Artificial intelligence (AI) has revolutionized the business world.
From optimizing workflows to facilitating data-driven decisions and boosting productivity—it has enhanced business processes significantly.
For marketing, in particular, AI technology solutions enable businesses to gain a more nuanced understanding of their audience to drive conversions with lesser human efforts and more returns.
In fact, the market value of artificial intelligence in marketing is projected[i] to reach $107.54 billion by 2028.
In this blog post, we’ll dive into the role of AI in marketing and how you can leverage it for your business’ benefit.
What Is AI Marketing?
First things first, artificial intelligence in marketing is a method to collect customer data and anticipate their actions to automate marketing processes.
It enables machines to intelligently comprehend customer profiles to learn about their interests, behavior, and motivations. Armed with these insights, AI marketing solutions automatically target the right strategy to the right person at the right time.
This helps save marketing time and resources while delivering personalized customer experiences to boost campaign performance.
Key Elements of AI Marketing
Artificial intelligence in marketing bridges the gap between data science (customer data) and its execution (strategic actions) to help marketers better connect with customers. It does this with the help of solutions that comprises the following components:
Digital media has brought on an influx of big data which is difficult for marketers to sift through manually. AI marketing segment these large sets of data at a blazing fast speed to recommend the best choice of approach for marketing activities.
Machine learning helps make sense of the huge data repositories at the marketers’ hands. It is driven by artificial intelligence and involves computer algorithms to analyze new information in the context of past data. This helps predict common insights and market trends.
AI Marketing Platforms & Tools
AI marketing solutions are capable of understanding data in a human manner. So, they can identify useful concepts and themes across data sets to make intelligent decisions. Additionally, they can interpret emotions in communications which helps enhance audience receptivity with relevant messaging.
Use Cases of AI Marketing
AI marketing has various applications in business, including –
Data Analysis: When combined alongside high-quality data, AI marketing helps segment and investigate audiences in-depth to target them well.
Real-time Personalization: Using message tracking and analytics capabilities, AI helps deliver customized content to audiences to offer highly personalized experiences.
Automated Decision-Making: AI marketing helps translate data into decisions by quickly generating insights based on past performance and outside inputs.
Content Creation: AI promotes content marketing by writing both short and long-form content as well as generating copyright-free images of non-existent people and objects.
Natural Language Processing: AI can understand and optimize communications to find the most effective variation to tailor your communication, customer service, and user experience.
Dynamic Pricing: AI can monitor customers’ history and searches to determine the demand for a product and vary the prices accordingly in real time.
Sales Forecasting: By analyzing customer behavior, AI helps you predict what customers will buy next to promote your products for higher sales.
Benefits of Artificial Intelligence in Marketing
Using artificial intelligence in marketing offers a multitude of benefits to businesses, including –
Enhanced Marketing Measurement
Keeping track of every marketing campaign and the data it generates can be difficult. Hence, marketers find it challenging to report on and prove their campaign’s success. AI marketing allows for a more comprehensive view of the campaign analytics to understand what’s working and what needs improvement.
Increased Campaign ROI
Marketers can use AI marketing to level up their campaigns with the help of data insights. AI platforms can analyze high-performing ad placements and other promotional campaigns to best allocate funds for maximum customer engagement. This, in turn, will help get the most value out of campaigns and generate high ROI.
Better Customer Relationships
AI helps you enrich the customer lifecycle by delivering relevant and valuable information at suitable timelines. This increases customers’ interest in the brand, leading to long-term and meaningful brand-customer relationships.
Getting Started With AI Marketing
Now that you have a good understanding of AI marketing and its benefits, it’s time to know how to implement it in your business.
Every marketing strategy must have clear goals associated with it. And AI is no different. So, to execute an AI marketing program, start by identifying the areas that you want to improve with it. Set clear KPIs for them in order to gauge the success of your campaign.
Set Data Privacy and Quality Standards
While AI marketing platforms are great for personalization, it’s important to ensure that they don’t cross the boundaries of privacy. All the data collected and processed by your AI marketing solution must be compliant with privacy standards. In addition, it should be accurate and useful. So that it does not generate wrong insights that damage your bottom line.
Acquire Data Science Talent
Working with advanced AI marketing solutions and the vast amount of data they deal with requires AI expertise. Most marketing teams do not have that talent in-house. So, organizations should either hire such experts or partner with organizations that can assist them with their AI marketing operations.
Develop an Integrated AI Marketing Strategy
AI marketing tools are effective on their own. But to get the best possible results, you need to integrate them with your existing marketing strategy. This will help you optimize your current marketing performance and create new opportunities for growth.
The Final Note
Artificial intelligence is rapidly evolving and shaping the future of digital marketing. It is fast, data-driven, and human-like which makes it a key technology for businesses to accelerate their growth and future proof their operations.
Want to Leverage Artificial Intelligence for Your Marketing Operations but Don’t Know Where to Start? Schedule a Free Consultation.
At Grazitti, our data science & analytics team has delivered intelligent business solutions to a wide client base ranging from Fortune 500 companies to government agencies and medium-to-large enterprises. Should you want to know more, just drop us a line at [email protected] and we’ll take it from there.
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