Artificial Intelligence (AI) is a hot argument in marketing these days. But first, let’s go back to know what AI is actually.
Artificial Intelligence is simulation of human intelligence with potential to learn and discover, covering a huge range of capabilities such as voice, image, recognition and semantic search.
With technology advancements and hacking tricks, data and analytics have become table stakes in modern marketing. And to stay in the competitive market has become a challenge- innovations, and explorations of various new opportunities have become even more important for businesses today than ever.
"What all of us have to do is to make sure we are using AI in a way that is for the benefit of humanity, not to the detriment of humanity." -Tim Cook, CEO of Apple
Implications of Artificial Intelligence in Marketing
• Helps in managing customer relationship by forecasting and data analytics
Customers' journeys in today’s business era are complex. They are constantly exposed to noises throughout the purchasing process.
With Artificial Intelligence, their experience of user could be personalized with foresight or predictive marketing. Artificial Intelligence predicts and recognizes the data pattern with high levels of certainty. With customer data using analytics enterprise can share personalized services, offers and other facilities.
And using AI business enterprises can identify the ideal customer, which would increase their marketing rate in the competitive market. They can identify the bolster account-based strategies and explore the upmarket initiatives.
• AI provides with optimized customer engagement process
AI- optimized customer engagement process helps in enabling the businesses in providing not only the right offer but also the right product and the right content to the right prospect at the right time. AI leverages and controls the complex and computations involve in optimizing of permutations.
a) By understanding user behavior enterprise recommends accurate products.
b) Using AI based chat bot user can access all the information in no time based on requirements.
• Reducing the gap between sales and marketing
Since marketing and sales have a similar goal of the business growth, but they differ in the method of achieving it, and this difference can often offshoot conflicts and wasted efforts.
AI fosters the collaboration of marketing and sales by identifying the right buyer persona. With the right buyer persona in place, marketing can easily produce customized collateral which attract and engage customers which really fit in the persona.
Which helps enterprise focus more on business innovations and decision making segments.
"In the long term, artificial intelligence and automation are going to be taking over so much of what gives humans a feeling of purpose." -Matt Bellamy
• AI with its automation feature explore new opportunities
One of the main key features of a business is process optimization. Process optimization is done in order to enhance responsiveness which will, in turn, increase market demand and its conditions.
In marketing, AI solutions help in automating manual activities such as doing research, setting up process-based workflows, conversations and updating CRM.
With the above tedious task performed by AI, marketing can focus more on important responsibilities.
With automation using data analytics not enterprise experience growth in business but all in customer satisfaction by sharing accuracy and personalized services/ products
• AI enhances the customer experiences
In marketing, the trend is becoming more customer-oriented and personalized. And the interaction with a customer for the business or its product is a crucial method.
But AI with its real-time modification makes integrating customer experience effective.
A strong AI software empowers marketing by increasing the awareness of the context and outcomes of customer interaction by letting customers move from one channel to another.