It’s no secret that technology and digital innovation have forever changed how we do business. But what you may not know is how artificial intelligence is changing the marketing landscape in ways that are fundamentally altering businesses’ abilities to attract and retain customers in their digital space, as well as the way marketers can drive growth by using analytics and automation to streamline their strategies across multiple channels. Let’s take a look at how AI has changed the marketing landscape as we know it today.
Introducing AI And Its Potential In Marketing
Artificial intelligence (AI) allows marketers to make smarter decisions, automate mundane tasks and engage in deeper conversations with their customers. With AI on your marketing team, you can uncover new insights from customer data by using machine learning to drive actionable results. The potential of AI in marketing can no longer be ignored. It’s time for marketers to move beyond seeing AI as a tool for automating analytics and start leveraging it to change how they interact with their customers at every stage of the customer journey.
How AI Can Be Used To Target Ads And Personalize Content
Artificial intelligence, or AI, promises to transform the world in many ways, from improving our health and transportation to enhancing our learning and productivity. A specific area that can be enhanced by AI technologies is online marketing. Online marketers are always looking for better ways to target ads and personalize content for users — AI can help do that efficiently and at scale. For example, with just a few lines of code, an advertiser could automatically make sure a person sees an ad based on their browsing history or search history (assuming they’ve consented to see such targeted ads). Or, they could ensure someone receives a discount coupon when they visit a particular store.
While these two examples involve using AI algorithms to match people with relevant content based on their past behavior, another approach involves using AI systems as assistants for creating more personalized experiences for customers. For example, Netflix used an algorithm called “CineMatch” that analyzed your viewing habits and suggested other movies you might like. Businesses that take advantage of these opportunities will have an edge over competitors that don’t.
Plus, AI offers so much more than just targeting ads and providing customized content; businesses also stand to benefit from cost savings through automation, increased sales through more effective targeting strategies, increased efficiency through processes that require less human input, improved accuracy through predictive analytics and real-time data collection/analysis, among others. It’s no wonder experts predict AI will soon become a core component of every company’s business strategy!
Advantages Of Implementing AI In Marketing
Digital marketing and automation are all about making work easier, increasing productivity, and making money. What better way to do that than with AI? We’re still in the early days of using AI in marketing, but here are some ways businesses can be using it right now to make more money. A new report from Juniper Research predicts that AI will double eCommerce revenue for US retailers by 2022. That’s good news for everyone!
Using AI for marketing means being able to get even smarter about targeting ads at specific groups of people. There are already services like Amazon’s Sponsored Products tool, which automatically suggests relevant products based on your customers’ shopping habits — you pay only when someone clicks on your ad or buys something through it.
The Challenges Of Using AI In Marketing
There are some challenges associated with using AI to improve marketing efforts. AI systems require a huge amount of data to be trained properly, which means you’ll need to provide your machine learning algorithm with a large amount of historical data. You’ll also need to give it detailed metrics and enough information about each metric so that it can determine what makes for successful marketing campaigns. This can be challenging as you might not have as much historical data available as you might like, especially when starting.
Finally, AI requires enormous amounts of computational power to run algorithms quickly, which makes implementation difficult for small-to-medium businesses that don’t have dedicated IT staff or lots of computing resources on hand.
Despite these challenges, there are still ways that marketers can take advantage of artificial intelligence. If you already have a lot of historical data from past campaigns, an AI system could analyze it and help you find hidden patterns that would otherwise go unnoticed. For example, if one campaign generated more sales than another by 10%, an AI system could point out where things went wrong to ensure future success.
The Future Of AI In Marketing
As AI continues to improve, it will reshape marketing by providing data-driven insights that human marketing teams can’t match. For example, virtual personal assistants use AI to provide customers with exactly what they need promptly. To stay relevant in today’s marketplace, all businesses must adopt AI strategies. From customer service to sales, all marketing teams should experiment with AI and embrace it as part of their company’s future. Ultimately, companies will move away from relying on human marketers and toward a fully automated approach driven by technology. This doesn’t mean that there won’t be any room for humans in marketing — rather, AI will free up time for human marketers to focus on more strategic tasks.