AI In Marketing
- 18 December 2020
- Posted by: Namita Ahuja
- Category: Marketing & Advertisement Technology
The new wave of data-driven marketing strategies is taking the digital world by storm. Just like artificial intelligence has taken over social media, marketing strategies are taking advantage of this technological advancement. Since it isn’t humanly possible to craft personalized large-scale marketing to target buyers with precision, it is only through Artificial intelligence that can lead to the conversion of prospect buyers.
How Is AI Shaping Marketing?
AI marketing allows marketers to crunch amounts of data analysis from social media, emails a lot faster. The insights help the marketers not only boost campaign performance but also gain a return on investment. So, it isn’t just about leveraging the consumer data but also improving the customer journey.
There are several brands that have leveraged AI technology as an integral part of their marketing strategy.
Amazon pioneered personalized product recommendations on the basis of the customer’s past purchases and browsing behavior. The company has certainly taken technology to its benefit even in certain physical stores where the customer is charged automatically as soon as they walk out of the store through the Amazon go app.
While this might sound like it’s straight from a fantasy movie but Amazon is getting on the trend by using AI in the fashion industry as well. The AI-driven personal stylist uses machine learning algorithms to suggest individuals an outfit recommendation.
Starbucks strategic plan of connecting with customers and collecting data by using the reward program and loyalty cards is one of the best examples of predictive analytics. Through predictive analysis, Starbucks delivers personalized marketing messages including recommendations when customers approach the local stores.
Nike brilliantly hopped onto the trend of personalization by launching a campaign that allowed customers to design their own sneakers. The customers were allowed to choose their own graphics and colors through the “Nike Makers’ experience”. The designs were printed and made available to the customers in just 90 minutes! This tactful campaign was not only consumer engaging but most importantly helped the marketers collect consumer data.
How Is AI Used In Marketing
Gains Customer Insight
AI tools are practically aware of what a customer is feeling about a particular brand. With the existence of social media, marketers get to know better about the consumer wants. So, every time a customer asks Alexa or google home to order food, AI does its work of showing the brands according to the customer’s needs. This is precisely how algorithms work and are thus known to be the new “gatekeepers”.
With the existence of AI, we no longer have to resort to the traditional way of buying/selling ads that involved the tedious process of talking to a salesperson to set up a contract and have it executed. It targets specific customers that match business criteria through the data from the cookies every time a user visits a website. Facebook is a top-notch example when it comes to automated targeting. Facebook ads allow marketers to use data analytics to create custom profiles.
Customers no longer have to hesitate to reach out to the companies in terms of inquiring, buying, and complaining. Chatbots have made the process a lot convenient where businesses can help customers find a product they’re looking for. The “one tap away” assistance is considered to transform the digital marketing game. This science-fiction inspired technology is known to skyrocket business due to its quick, inexpensive process.
Since AI is known for personalization, it also includes a pricing strategy wherein the price is determined on the basis of demand and supply. Websites bot monitors the predictive analysis that provides with real-time pricing. Customers and marketers benefit from this dynamic pricing.
AI Marketing is believed to take over the jobs of content creators and marketers but even with artificial intelligence in place, designing and input of marketing logic are necessary. The emerging trends of automation in the marketing industry has helped build several capabilities. AI in marketing being a powerful tool is something marketers must adopt to achieve better results. So, if you are looking for successful marketing strategies, then now is the time to plunge into the world of AI marketing!
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