Machine learning and artificial intelligence in marketing have started a new wave that is taking marketing to its shores. However, AI has just entered the field of marketing and it is yet to build its legacy. So far it has provided promising results in molding the future of marketing.
Many marketers welcome artificial intelligence in their strategies but few are yet to implement it. It might seem like a foreign concept to a few of the marketers but those who really believe in it have gained huge success.
Let’s see how artificial intelligence is shaping the future of marketing:
Advanced Marketing Campaigns:
One of the primary benefits of machine learning is that it is very easy to identify several connections and patterns that humans can’t. Artificial intelligence for marketing will come in handy when you want to foresee the changing trends and user behavior patterns. With the help of machine learning models, you can access Google Analytics data and make use of behavioral data that is available on the web. This helps in finding the audience who are interested in your product, and, hence, most likely to convert.
Better Customer Service:
Using AI in customer service can help in maintaining a good relationship with your user base. Customers are more interactive with a chatbot than humans. Chatbots are learning and becoming more powerful than ever. The ability to learn and fetch a huge amount of data helps chatbots to reply efficiently thus helping in improving business interaction. Chatbots are trained to do more than answering simple questions; they can also troubleshoot problems and handpick products based on your interests.
Increased Return on Investment:
AI helps in ensuring that your customers are receiving what is more relevant to them. It is more concerned about providing personalized and valuable content, this way customers are happy that they are being noticed. Therefore, using artificial intelligence in digital marketing will definitely reflect in your campaign ROI. Most of the consumers are unhappy when the content they see isn’t personalized. Also, according to a recent study, it is found that 80% of the customers like it when they receive emails from retailers recommending products to them based on their interests.
Dynamic Pricing:
Dynamic pricing helps companies to be highly responsive and respond more efficiently. It allows them to manage supply and demand fluctuations. Several top companies already change their prices every day using machine learning algorithms that tweak the prices of products based on the client. It’s not only suitable for online stores. Big retailers are slowly embracing active pricing in the stores. For e.g. a few restaurants and cafes offer discounted lunch for those who can’t accept the midday rush or discounted prices to lower the food waste. A planned digital marketing solution like this will help you go a long way.
Dynamic pricing helps companies to be highly responsive and respond more efficiently. It allows them to manage supply and demand fluctuations. Several top companies already change their prices every day using machine learning algorithms that tweak the prices of products based on the client. It’s not only suitable for online stores. Big retailers are slowly embracing active pricing in the stores. For e.g. a few restaurants and cafes offer discounted lunch for those who can’t accept the midday rush or discounted prices to lower the food waste. A planned digital marketing solution like this will help you go a long way.
Related: Applying Artificial Intelligence for Video Campaigns
Gary Heath
5 years ago