What is Artificial Intelligence Marketing & Why is it Important
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Artificial intelligence marketing is the strategy our modern-day business needs. With the entire population using the internet for one or the other reason, there is a massive dump of data that gets generated every second. This data when analyzed with the right tools, gives insights on what are the needs of the user or customer, what motivates his/her needs, and how those needs can be satisfied. Artificial Intelligence has emerged as a potent marketing tool for businesses to understand their customers better. To model their business that grabs customers' attention, and that aligns with the customer's needs.
What is Artificial Intelligence Marketing?
Artificial Intelligence Marketing (AI Marketing) is the method of using customer data and Artificial Intelligence / Machine Learning to identify, forecast, and satisfy your customer's needs.
Big data and digital transformation have lent great power in the hands of marketers. Now, they can create much more precise marketing strategies that will be data-driven and not based on intuition as it was erstwhile. Marketers can expect better ROI on their marketing spendings. And all this without breaking an extra sweat.
Elements of Artificial Intelligence Marketing
Machine learning gives brains to AI marketing. It can identify underlying trends and relationships between various datasets that remain invisible to human understanding. Machine learning can not only tell marketers what customers want but also what drives the customers' motivations.
Big data is the customer data with the marketer. Marketers can collect and segregate large datasets for further processing with Artificial Intelligence and Machine learning tools to understand customer behavior, upcoming trends, the right channel of messaging, and much more.
Humane Approach to Data
One of the reasons why Artificial Intelligence succeeds is its ability to understand the motives and drives of the customer in the same way a human would. Artificial Intelligence and Machine learning can interpret human emotions from social media, email and chat responses, etc. Marketers will have a clearer understanding of why customers choose a particular product and what they may need next.
Read also: Artificial Intelligence in Retail Planning
Benefits of Artificial Intelligence Marketing
According to the duke CMO survey, most businesses plan to increase their investment in analytics by over 11% of their overall marketing budgets.
We are already witnessing account-based marketing strategies, but Artificial Intelligence Marketing takes this a notch higher. Using an ad creator tool marketers can create highly targeted ads via the right channel and messaging, enabling a highly compelling proposition for the customer. Artificial Intelligence tools delve deep into social media activity, keyword searches, and various online data to create refined customer profiles for customers to create highly targeted ads.
The modern-day customer knows what he wants, and he knows how to find it. People are using Social Media platforms, and search engines to look for things of their interests. Artificial Intelligence Marketing tools can analyze these search patterns and help marketers to create relevant recommendations for customers.
Right Messaging and Right Channel
Artificial Intelligence Marketing tools help marketers in identifying the right content and the right channel to engage customers. This may depend on a lot of factors such as customer demography, education, profession, social status, etc. Marketers can have an individual level understanding of the kind of content that will interest customers, for example, blogs, Instagram posts, email messaging or phone calls, etc., and focus their efforts via the right channel.
Integration with Bots
Many enterprises are switching to bots for direct customer messaging and customer services. The chatbots are an excellent source of data generators that can capture the essence of customer communication and integrate this essential data with Artificial Intelligence Marketing tools.
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The beauty of Artificial Intelligence lies in its ability to continuously learn, and adapt to the changing nature of the domain it is dealing with. In our case, it happens to be volatile customer behavior. The prowess of artificial intelligence to learn and understand the changing behavior helps marketers in staying relevant in all seasons.
Why Artificial Intelligence is the Future of Marketing?
Artificial Intelligence is a powerful tool that marketers have access to, and there will be an increased dependency on Artificial Intelligence Marketing solutions in creating a better life-time value with the customer. Businesses will be able to improve customer retention and reduce customer churn. They will be able to utilize their resources better and in the right direction, without wasting money, time, and efforts.
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