Artificial Intelligence (AI) is leading the way in almost every industry it touches. According to Accenture, 84% of business executives believe they need to use AI to achieve their growth objectives. In the past few years, AI has paved its way toward marketing as well. It is helping brands enhance every step of the customer journey and boost their marketing campaign returns on investment (RoIs). To help you benefit from the opportunities AI has to offer, we’ll tell you how to use it to become an intelligent marketer in this article.
What Is AI Marketing?
To answer this question, we first have to understand what AI is. AI is a wide-ranging branch of computer science concerned with building intelligent machines capable of performing tasks that typically require human intelligence, such as sensing, comprehending, acting, and learning. Machine learning (ML) and natural language processing (NLP) are components of AI.
When we look at AI marketing, we can define it as a method of using intelligence technologies to collect data and customer insights, anticipating customer behaviors, and making automated decisions that impact marketing efforts. In marketing, AI is typically used when speed is essential or large amounts of data need to be processed, analyzed, and used. A very known example of using AI in marketing is personalizing shopping recommendations in e-commerce.
Why Is AI Marketing Important?
AI puts a lot of use cases on the table for marketing, each with their corresponding benefits. Those may be quantifiable, like an increase in sales, or unquantifiable, such as user satisfaction. Let’s take a closer look at some of the main benefits of AI in marketing.
Faster Decision Making
One of the enormous benefits of AI is its ability to crunch vast amounts of marketing data faster than humans can and use ML to reach fast conclusions based on the customer and campaign context.
As stated earlier, AI can help make your marketing more personalized. Product recommendations, emails, webpages, and programmatic advertising are just a few examples of where a modern marketer can tailor-fit content to let each customer hear precisely what they want to.
We all know that marketers spend too much time on repetitive, mundane tasks. AI can help you achieve significant cost reductions by shortening the time spent on those tasks while reducing chances of errors. For instance, AI can make thousands of copy and creative variations of ads while testing, analyzing, and improving a campaign’s performance at the same time.
Not only can AI save costs, but it can also help you make fast decisions on allocating funds across channels or analyze the most effective ad placements to get the most value out of campaigns, which increases RoI.
Ways to Use AI in Marketing
From improving campaign performance to enhanced customer experience or greater efficiency in marketing operations, the benefits of AI in marketing are apparent. Here are some ways to use AI as a marketer.
You probably had a conversation with chatbots more than once. Chatbots not only figure on more and more websites; they are also used in social media, such as Facebook Messenger. With the development of NLP through AI, chatbots are used to answer basic questions based on historical data. Besides responding to questions, AI is at its best when creating personalized and tailored content, turning them into proactive advertisers for your business.
Content is king in today’s marketing landscape. The amount of digital content has exploded over the past few years, bringing companies a whole new set of operational marketing challenges. To streamline the asset management process, among other things, many organizations depend on digital asset management software. AI technology is now used to enhance these systems with features, such as automatic asset tagging; speech-to-text conversion; and facial-, object, and image recognition.
AI-Enhanced PPC Advertising
Almost every respectable company uses pay-per-click (PPC) ads as part of its marketing strategy. Since a lot of data is involved, AI is a valuable addition to enhancing your paid advertising results. Creative automation and dynamic ads help you scale your content creation and deliver personalized ad variants to your audience. Smart Bidding strategies optimize your campaigns for specific goals, such as maximizing conversion value, target cost per action (CPA), or visibility.
Dynamic or personalized pricing is a strategy wherein the price is determined by demand and/or supply. For example, the cost of your Uber ride increases when the demand is high. AI can suggest optimal prices for products in real-time based on historical and real-time data, which has been especially popular and effective in retail.
There is no doubt that AI will continue to shape the future of marketing and the roles we fulfill as marketers. The bright side is that AI allows us to do the previously considered impossible—engage with every customer in a personalized way. It’s time for marketers to define where AI can make the most significant impact and ensure that the groundwork for collecting and storing data has been laid. Using AI-powered marketing is not optional but a must if you want to run a successful business in the future. As always, the ones who adapt survive.