Artificial intelligence used to be the fodder of fiction movies. But AI has never been more prevalent in our modern society than it is today. AI is so widespread these days that most people don’t even realize that they use the technology daily.
AI isn’t just reserved for techy companies anymore. AI serves nearly all industries, whether big or small, including the marketing sector. But first, what exactly is AI?
AI is all around us. AI utilizes advanced coding and simulated learning tactics to perform tasks faster and more efficiently. AI is used to perform many different tasks. Case in point, whenever someone asks their smartphone a question, that’s AI in action. The same goes for direct voice assistants such as Google or Alexa.
Chatbots that interact with individuals on websites are also an example of AI in action. As you can deduce, AI learns from human interactions to deliver enhanced experiences. Marketers can include AI in their marketing strategies not only to fuel business growth but also to enhance the overall customer experience.
5 things all marketers should know about artificial intelligence in 2021
1. AI is cost-effective
Because there is an untrue perception out there that AI is too costly to be accessible especially to small business owners. As such, the terms AI may breed a sense of anxiety in some marketing departments. However, AI has come such a long way since its advent to become a cost-efficient option.
Case in point, bots are easily accessible these days. And because they are so efficient, it makes sense to include them in your overall marketing strategy. In particular, chatbots can make all the difference in the world as it regards customer care. What’s more, bots do not expect a paycheck at the end of the month or time off for sick leave or vacation time.
2. AI is all about personalization
It’s no secret that buyers today want a personalized experience. In particular, Gen Y and Gen Z buyers would prefer that marketers deliver personalized experiences, both on the websites they visit and the messages or marketing emails that they receive. The good news is that AI is all about personalization.
AI utilizes the data it has on customers to engage customers more effectively. Sometimes marketers are not fully capable of making sense of all the data they have at their disposal, but AI does. When data is used properly, it leads to a heightened level of personalized marketing that consists of interactions that are tailored to the exact needs and wants of the potential customers that brands are looking to reach.
3. AI training is needed
AI Technology is more accessible but integration is slow. It’s is clear that marketers benefit greatly from AI technology such as virtual assistants and other AI-assisted marketing technology to personalize, automate, and target various marketing campaigns and initiatives.
However, for marketers to take full advantage of this impressive technology, they need the necessary training. This training is vital as it teaches marketers how to handle the technology and how it can be adapted to day to day operations. Lucky for marketers though because AI learning material and books are widely and easily accessible for those looking to expand their AI knowledge.
4. AI is a great choice for improving efficiency
Manually generating content can be tedious, especially if it involves a huge set of data. But AI generates data automatically so that marketers do not have to outsource the service to copywriters or editors. This process of creating content through AI is referred to as content generation.
Content generation is highly useful for creating content involving stock updates, financial reports, news, and stories. Although content generation tools have come a long way since their advent, they are still not capable of generating long and eloquently written articles such as the kind created by content marketers and bloggers.
5. AI improves customer segmentation
Customer segmentation refers to the process of understanding a business’ target market based on their needs, interests, habits, as well as preferences. Customer segmentation is the best way for businesses to supply buyers with exceptional customer experiences.
The capacity to segment customers correctly all boils down to the type of data that’s available on each shopper. But capturing and analyzing each customer interaction is not an easy thing to do especially when marketers have other things to worry about.
That’s where AI comes in. AI processes data in real-time and can even help businesses to move customers from one segment or persona to another as their shopping habits change over time. Because the segmentation is so precise, it enables marketers to send the most relevant and most personalized messages possible. When this happens, it reflects in the overall campaign ROI.
Previously, any insights that were available to marketing departments about consumers would have been largely made up of demographics. While these have always been helpful, they were still largely generic, until the advent of AI.
These days, with AI, the world has entered a robust area of data analytics that are allowing marketers to understand their customers’ paint points on a much deeper level. Simple demographical data is no longer sufficient. AI not only gathers the relevant data quickly but it also accurately predicts any future outcomes.
AI is not going anywhere anytime soon. As such, the best thing that modern marketers can do is embrace the technology instead of shying away from it. Sure, the terms AI can be scary to deal with but it has so much potential to shift the way marketers work.
At least 30 percent of marketers acknowledge the power that AI has whether it has to do with testing or planning. This percentage is likely to increase considerably in the next coming years therefore giving marketers enhanced efficiency.
As with all forms of new technology, there is still a long way to go for modern marketers hoping to integrate AI in one form or another. Many face obstacles when it comes to adopting this impressive technology. The good news is that there are a lot of guides and resources out there that can further educate marketers on everything they need to know regarding AI.