AI in Marketing

What if you could accurately predict and respond to customer needs with perfect timing? AI increases engagement on websites and social channels by analyzing visitor activities, tracking behavior patterns and responding to perceived needs with targeted content. Here are some ways companies utilize AI through predictive analytics and clustering algorithms to increase engagement:

• To identify the most effective platforms and highest performing topics to reach each customer segment based on actual data and content performance per segment.

• To curate and recommend content to visitors by predicting future needs based on past behavior.

• To optimize advertisements by showing products to users who have previously added them to their online shopping carts.

• To show personalized content by responding to customer data attributes and behavior.

• Interactive content generates two times more conversions than passive content
  -Kapost
  

EXAMPLE: Amazon.com recommends products to a female customer who recently viewed dresses, tanks and sunscreen. Since this content is personalized to her behavior, she is more likely to make a purchase when reminded of her recent needs

Chatbots and virtual assistants are able to imitate intelligent human behavior to provide fast, personalized service 24/7 without human intervention.

While chatbots take on simple tasks, like answering FAQ’s or helping a customer complete a purchase, employees can focus on higher-value revenue generating activities that require more creativity or a more personal touch through human interactions. 

• EXAMPLE: Sephora’s Facebook bot allows customers to preview products as the bot imposes the products on their selfie. (left). 1-800-Flowers has a chatbot that guides customers through selecting bouquets using natural language processing and machine learning.

  Images: Marketing Insider Group, 1-800-Flowers

It can require many software systems to carry out the business processes of an organization. Each platform provides useful data that affects future decision making in areas like inventory management, order tracking, monitoring website activity and marketing performance, as well as tracking lead relationships and optimizing the sales process. Yet often times having various systems means managing many datasets that do not integrate perfectly.

AI helps organizations by uniting data across multiple technology platforms and software systems, improving efficiency, productivity and accuracy in decision making while identifying and interpreting patterns within the data at a rate with which no human can compete.

AI also provides predictive analytics where third party research and data in general consumer trends is integrated with actual customer information to predict future needs. This helps organizations forecast sales and demand for certain products or services, and also ensures enough staff is on hand to provide services.

• Because of its ability to adapt and interpret patterns and data so quickly, AI’s predictions will be trusted as much as top-level C-suite executive recommendations.
  -Forbes
  

AI provides the ability to quickly analyze massive amounts of data and respond with machine-learned or programmed responses so businesses can perform thousands of routine tasks at once. Automating repetitive tasks provides a competitive advantage in the following areas:

• Product Pricing (Dynamic Price Optimization)-

  uses an algorithm to correlate pricing and sales trends, AI helps align the data with factors like inventory levels and product demand to ensure the greatest profit at all times.

• Sales Forecasting-

  AI analyzes communications to assess the best next step to nurture leads and opportunities based on past client behaviors and conversions.

• Speech Recognition, Voice Search and Text Translation-

  AI predicts the language used and the translation language needed to expedite processes (used by Skype, Apple’s Siri, Microsoft’s Cortana, Amazon’s Alexa and Google Translate).

• Customer Segmentation-

  An AI clustering algorithm enables data mining from multiple systems in an effort to identify common customer traits, group segments accordingly and optimize communications to the most popular segments.

While people have dreamed about AI since the 1950’s, never before has it been as widely implemented into routine business performance as it is today. If AI is the right fit for a company and employees can find the right balance to blend man and machine, the benefits of being proactive will bring great value to customers and position organizations for huge competitive advantages. Here are some ways that AI propels innovators ahead of their competitors:

• Cost-effective 24/7 Service for Customers

  AI-assisted bots have improved accuracy over and can now speak, understand text, absorb and retain information to provide helpful assistance around the clock - freeing up human employee time to boost business.

• Better Informed Decision Making

  With an abundance of data and more accurate interpretation of that data, AI helps executives make informed decisions on a timely basis .

• Shorten Sales Cycles and Expedite Customer Journeys

  Improve the alignment of Sales and Marketing and accurately address current customer pain points with personalized, consistent and useful content deployed at the right stage of the sales cycle. Engage prospects and nurture them into leads with more product information, price comparisons and unique offers.

• Create More Effective Content Resources–

  Through analysis of user engagement with various content types, comparing the pattern of common successful elements within highly engaging content will provide insight for future content.

If you’d like to implement AI into your organization, you’re on the right track.

Select a platform

Which offers the AI activities you’d like to implement into your strategy and integrates with the other platforms you currently use.

Feed your AI platform customer data

Then select how to segment your prospects and customers to deliver the most relevant messages. For example, you can segment by location, gender, interests and more.

Discover how to use AI to meet customer needs

Use a human-centered thought process, which helps AI meet customer needs through your offers and how to design your customer journeys accordingly.