The age of AI has begun. It's inevitable, and everyone knows this. But what is still unknown to the vast majority of people, is HOW AI can change their life and whether is there a possibility to benefit from it.
According to the latest data available, 80% of business and tech leaders say AI already boosts productivity, and the ‘shortage of data science talents' is the main challenge for companies that want to implement such changes in their businesses. Meanwhile, more solutions will come as the progress moves. To support this statement, the AI global market is predicted to reach $190.61B market value by 2025.
However, we already have dozens of ways to connect AI and marketing. The most important part is that they are already proven to be effective measures for businesses all around the world. In this article, we want to share some of the best practices of the usage of AI in marketing, in order to help you to find the right improvement for your business.
Without any further ado, let's dive in.
1) Customer Support and Monitoring
Any feedback is a treasure. Good, bad, excellent, terrible... All of these marks are pointing where you can grow or what you can position as your strongest side.
There are several options to make gathering clients' feedback easier and get to know them better:
2) KPI and Goal Setting
Of course, AI won't make a purpose and a mission for your company (at least, now), but it can help you establish the goal-setting system.
For example, If your marketing department is sticking to the SMART (specific, measurable, assignable, realistic, and time-related) goals model, you can turn your goals into a clear dataset in the database. After the time set for reaching the goal ends, you need to enter actual accomplishments and compare them to previous expectations.
By learning which goals brings the most impact, AI can help you make them more clear and reachable for the next quarters or months.
By gathering data through loyalty programs and undertaking your Social Meia Marketing well, you get the most important recourse from your customers - information. AI can help predict new trends by analyzing time, frequency, and amount of people posting the same keywords or buying the same product.
The simplest example is lemons and anti-cold medicine. It's trending every autumn without people even noticing.
Why? Because people start to get sick, so the demand for medicine and healthy food grows. This is a great time to advertise harder by exposing the pain points of your audience.
Now imagine what can big retail businesses with such technology do.
4) Content Creation and Messaging
You never know who is the real author of the text you're writing. What if this paragraph on your screen is written by AI?
Anyway, let it be a mystery. The fact is artificial intelligence can and will be writing effective copy. We have seen it with Grammarly and their AI-driven proofreading software, and now it's going to replace the writer together with the editor.
Today AI can assist you with:
5) Upselling and Recommendations
Have you ever wondered how Spotify recommendations work so well (or why they suggest you the music you don't like)?
The thing is that they only analyze your behavior in the app. Subscriptions, likes, searches, time spent on listening, and many more factors help them define your perfect match.
If you find this technology familiar, you're right. We face it constantly in online shops. The thing is this technology is suitable for far more industries than just e-commerce. What about flight ticket recommendations based on your past flights? Or maybe you want to sell more precious coffee drinks to your customers by knowing when they are willing to spend more (learn about this Starbucks case here).
If it's working with shops and coffee, then there can be a way to implement it in your business.
6) Target audience segmentation
Have we mentioned how is it important to gather data from your customers yet?
AI is the way to find the invisible nets between your customers. By knowing what they regularly buy, what they do, or where they live, you can sort them into different segments based on your sales needs.
Sure thing, it's better to know that your sports equipment store has more football fans among its visitors compared to basketball fans. What about knowing how many of them are supporting Real Madrid and Manchester United? Or maybe how many of them play tennis besides football and would love to buy a bundle of equipment for these activities?
7) Marketing Budget Optimisation
Every marketing campaign has its own budget, which is divided between several channels in order to bring maximum value to the company.
But what about ROI? How do you actually know it was worth it?
AI can help to eliminate ineffective channels and redistribute the budget in favor of channels that convert visitors into clients. The neat part is the redistribution itself, by using sales statistics, AI can extrapolate data and predict the best possible outcomes. This is (hypothetically) how you'll know that the main problem was not in choosing Twitter as a secondary PR channel, but in giving too little budget for Facebook Ads.
8) AI Images Generation
We bet you already heard about some websites that can generate you an image based on what you will type in text box. What you could have not heard, is that it got way better over the year.
In 2022, the Stable Diffusion was released. It's an advanced AI text-to-image algorithm that generates images based on text. The good news is that unlike previous AI text-to-image algorithms (like what DALL·E was using), Stable Diffusion is quite good at generating faces. It also can make nice 3D scenes, sketches, photos, and more.
It means that today you can easily create a simple image for your marketing campaign. No need to bother your designer with ideas you cannot properly explain, the AI will do it for you.
After all the above mentioned points, what is the place of AI in marketing?
Increasing ROI, more satisfied customers, clear messaging, a better quality of content, accurate data... Let's be honest, there are plenty of them, and there will be even more over time.
We are sure that the technologies available nowadays can bring your business to another level. Especially when it comes to marketing, the sphere where every dollar spent can take you to the top, or send you to the bottom. Soon it will not be an option, it will be a necessity.
If you're not sure how AI can help you solve your business problems, book a call with NeuroForge representatives where we will discuss the possibilities for AI implementation in your company and the perspectives of growth after this.