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Artificial Intelligence, better known as AI and Machine Learning is a growing trend across several sectors, including business online marketing. For those who don’t know, AI and Machine Learning work together to train the computers to crunch datasets by providing requested information and produce data analysis according to their findings pattern.
Recently, its utilization has extended to online marketing, where some marketers have already caught on to this growing trend by using AI to help them automate their marketing decisions. For instance, to pull out data quickly from various sources and crunch it into a coherent and insightful analysis to be used for decision-making. As a result, marketers are able to save time allowing them to refocus their efforts to address any other challenges that come their way.
Some marketers are already leveraging the power of AI and Machine Learning to gather valuable insights about their customers and improve their company’s sales process, such as optimizing the digital ads and automatically posting them during times with the lowest-priced clicks or highest lead conversions.
How Marketers Can Utilize AI & Machine Learning
According to research from Business Insider, less than 50% of marketers currently use AI and Machine Learning, but this number is expected to exponentially grow by 2019. In addition, it could also have the highest year-over-year (YoY) growth of any leading technology that marketers adopt in the coming year and need to master in order to catch up with the latest trends. Not only Machine Learning, but marketers also need to be able to crunch the ever-growing volume of consumer-generated data used to influence their marketing decisions.
Other techniques such as deep learning and natural language processing (NLP) are also mentioned in the article as data data-driven decision-making tools that should be adopted in the coming year by marketers. The research by Business Insider also examines how marketers can utilize AI and Machine Learning to enhance their current and future online marketing strategies. One main benefit they provide is that AI and Machine Learning enhances personalization, and along with that, they identify the best practices for marketers looking to integrate this technology into their marketing strategies.
The question now becomes, how can AI and Machine Learning work in the online marketing field and help marketers enhance their strategy?
Consumer insight is the key to producing better marketing decisions and this is why most Marketers spend countless hours gathering information on consumer behavior. Before the age of AI and machine learning, one of the ways to research consumer insight was to find some high-quality datasets that were used as a foundation of marketing decisions. But now as we are entering an era of robust data-driven decisions, it becomes increasingly important for businesses to deeply understand their audience.
Although AI and Machine Learning are not always 100% accurate in providing the requested data and analysis, their predictive analytics aim to make the most accurate predictions by analyzing past and present customer behavior patterns. Using the datasets gathered, marketers can incorporate deeper insights into their online marketing efforts to increase the performance of their targeted campaign.
Better Customer Segmentation
These days consumers have become more educated and better informed about the products or services that they seek. They have developed higher expectations toward products or services they encounter and expect a more personalized experience that addresses their specific needs. As a result, marketers need to catch on to this trend and level up their efforts by improving their interactions with the consumers. They can accomplish this with customer segmentation and tailor specific strategies for each segment.
AI and Machine Learning enables marketers to segment their customers and understand each behavior by relentlessly analyzing customers based on their buying patterns. With this, marketers can take consumer segmentation to a whole new level and accurately predict their future behavior as well. With this information, marketers will not only be able to specify their target audiences’ specific needs but most importantly, help consumers create a long-lasting relationship with the brand.
Improved Customer Interactions
We all know that dissatisfied consumers will never go back and the brands that fail to fulfill their expectations will be left behind. One of the ways to personalize services and deliver exceptional customer service in an effortless manner is by investing in chatbots. Chatbots is a virtual assistant operated by AI and it can help build personal interactions with customers efficiently. Chatbots use AI to track the conversations and use it to predict consumer behavior. Once the information is gathered, they can personalize customer interactions to make each customer’s journey unique to them. Chatbots can also quickly tackle consumer’s issues whenever they arise.
How AI Is Currently Being Used by Companies
The AI trend is gradually taking effect, but if you take a closer look, some tech giants have already integrated AI into their services. For example, Google has demonstrated the power of AI in its software called Google Assistant which supplements our everyday lives through its various functions and capabilities. Secondly, Facebook uses AI to interpret the images that are uploaded to its platform either to identify a person or to find out the context of the content. Lastly, Amazon has adopted machine learning for product recommendations. If you have been exposed to these services, that’s how AI and machine learning works.
Those are just some examples of how different industries have harnessed the power of AI to enhance their service offering. The possibilities offered by AI are endless and it’s perhaps the finest example of automation available. From improving customer service and retention to digesting and analyzing large amounts of data in a matter of seconds, there are many ways that businesses can integrate AI to help them maximize their results.
Integrate AI into Your Marketing Efforts
Creating an effective online marketing strategy is a job that will never finish. As consumers’ expectations and trends are constantly changing, it becomes difficult for marketers to stay ahead. However, AI and Machine Learning are created to revolutionize online marketing by providing marketers with robust quality datasets through the use of data-driven analytical technology and deep learning that can be utilized to shape more focused consumer segmentation and more personalized consumer experiences.
Deep learning doesn’t require any human operators to make it work. Their algorithms are set to give marketers detailed information in an automated manner. Therefore, investing in AI, Machine learning, as well as deep learning will allow marketers to understand, analyze, and anticipate these changes in trends and consumer behaviors faster in order to develop effective marketing campaigns and save more time.
Wherever marketers choose to implement AI, they should be aware that artificial intelligence and machine learning technology are affecting various aspects of business and defining how they work. Since this technology is quickly evolving to combat the latest trends, investing in AI and machine learning should be their top priority if they wish to succeed in the competitive market.