AI isn’t limited to machines and robots, it’s integrated in our everyday lives; suggesting clothes to buy, a series to watch or a car to test-drive. A technology that makes the impossible possible – responding to real-time data and analyzing consumer behavior to create bespoke, personalized experiences.
In short, AI is the simulation of human intelligence processes by machines and technology, (which in most cases is computer systems). This form of data-driven technology makes it possible for us, as marketers, to build a clear picture of our target audiences. Generating revenue by predicting what is needed to make a sale, make a customer happy and prevent churn.
So the real question is, how can you make the most of AI technologies in your business?
Applications of AI Marketing
With such a varied mix of AI technologies it’s crucial to recognize that capabilities and benefits differ between applications. Some variations of AI are better for reaching customers, whilst others are useful for conversion or retention. And while you may already be using some of these applications in your customer journey, the key is to connect all touchpoints and tools to create a better-personalized user experience:
Reach new people via voice-search and programmatic media to attract potential customers to the website. AI such as Alexa and Siri can help you control your home, but also help you find products and services. Here’s an example of how we won awards for an interactive ad promoting Alexa by demonstrating how it works.
Engage with (potential) customers by offering recommendations on your website or using marketing automation. Machine learning can run through billions of customer data points and establish the most effective times to make contact or the most effective words in subject lines.
Convert via a chatbot or retargeting users who visited the website.
Retain customers using a machine learning model to prevent churn. A subscription company is highly reliant on recurring revenue. They can predict churn by user behavior and segment these potential churns to target via a retention campaign. The AI system learned from user interactions, interprets information, and makes predictions, just like people would but in larger datasets.
Marketing- and sales tools need to be connected to provide the best experience and give teams more insight to take the right actions. However, to make AI a reality some challenges will need to be solved, including:
- The ever-changing nature of technologies and disciplines means constant upskilling is needed to remain knowledgeable
- Rising customer expectations and changes in behaviour increase pressure on marketers to deliver faster across all touchpoints. Marketing solutions need to be modular, easily adaptable and scalable.
- AI can produce siloed data that results in manual work, difficulty integrating tools, teams, and processes. Teams need to work together with similar systems and KPI’s, else their overall approach is difficult, and people will miss crucial information.
Want to know more about preparing data in your company? Jessica Jacobs, Global Director, Partnerships and Growth at Incubeta, explains how: Preparing Data for a Leaner & Personalized Digital Experience.
3 tips to start using AI in Marketing
So what are the next steps you can take to adapt to the data-driven times?
- Education program – marketers need to know the basics of AI.Hiring data scientists and business analysts will help your business grow, however, marketers have to understand AI and collaborate with the data teams. Together, they can implement AI solutions, and deliver real value.
- Collaboration – connect teams via centralized tools. It’s critical to centralize data and opting for a shared environment where everyone understands the information will mean collaborative projects, knowledge, and reports.
- Exploration – launch an AI pilot. Start driving change by choosing a small project that would help provide more marketing insight or efficiency. Consider partnering with data experts to get started with low-hanging fruits and increase your chances of success.
Multiple companies have already started investing in AI and making their data structures leaner. And now’s the time to make a plan and future-proof your business. Once you’ve prepared your organization and data infrastructure, the possibilities are endless.
To learn more about the benefits of Machine Learning and Artificial Intelligence, get in touch today!