What is Artificial Intelligence (AI)? And what is Artificial Intelligence aided marketing?
Artificial Intelligence in simple words can be explained as “The machines having the capability of performing cognitive functions like learning and problem-solving.”
Artificial intelligence has been there since long. But, it is taking off stupendously in the last few years.
Artificial Intelligence is a disruptive form of technology which is changing not just the entire Technology Industry but even our day-to-day life.
Artificial Intelligence is already changing the way the marketers implement their strategies. It can be defined as “the method of leveraging customer data and AI concepts like machine learning to anticipate your customer’s next move and improve the customer journey.”
With the evolution of big data analytics, the marketers have improved their Return on Investment (ROI) with no markedly extra efforts. The marketers get a clearer picture as to who is their target audience and work on them with focussed marketing efforts.
The following five factors have transformed marketing with the induction of Artificial Intelligence.
Increased Personalized Marketing:
Big Data doesn’t just give you an insight about customers and their behaviour; it also lets you use the insights to personalize the marketing messages. With the induction of Artificial Intelligence, the opportunities are not limited to demographics or industry types only; now you can market your products/ services to organizations on a requirement by requirement basis.
With personalization of products/ services, conversion rates will improve significantly, and it won’t stop there only; you will be doing the prospective clients a sending them the emails about the content they are more interested and are more likely to respond.
As we all know businesses have been trying to evolve with segmentation continually, the scope even increases with the assistance of Artificial Intelligence.
More Efficient Lead-Gen
The lead generation is one of the most important parts from the perspective of every organization’s revenue model. The big data provides raw information, and with the help of Artificial intelligence, it can be shortlisted into the data with higher conversion probability.
Although the technology to provide AI-driven Lead-Gen platform is already there, there is still scope for improvement in the integration of AI.
More Accurate Analytics
The Artificial Intelligence comes in handy while analysing the huge numbers and their relative importance in an accurate manner. It would have less accurate and more time consuming if any human being was performing the same task.
Also, if the AI is being used for the business generation, then it is only logical to use the AI for Analyses of the processes.
Automation in Sales & Marketing
There are a lot of products or services where the potential customers don’t necessarily need to talk to a sales rep for the implementation or installation of products or rendering the services. The only factor in such cases is the delivery time and the price of a product/ service.
Such scenarios are ideal for the use of Artificial Intelligence as there is not much need for human intervention. These processes can be automated with the Artificial Intelligence fulfilling the time and cost criteria.
The full gravity of the reach and scope of Artificial Intelligence has not been grasped by the industries yet. According to a survey by Demandbase, only 26% of respondents were confident about the positive effects of AI in the business of marketing.
With the use of machines, the average time needed to perform the tasks is going to reduce, with more accuracy and quality of the work resulting in the reduction of the overheads costs of an organization.
More importantly, it is not what AI is going to add is giving it, but what it is going to reduce is going to give AI the breakthrough it needs.