David McManus / November 7th 2018

AI in Marketing

Artificial intelligence (AI), specifically machine learning, is quickly becoming an increasingly integral part of many industries, including marketing. The rise in AI-powered systems are taking time-consuming tasks off marketers, and delegating them to machines. This process allows specialists to refocus their efforts onto marketing that matters.

Marketers are already leveraging the power of AI to discover valuable customer insights, automate tasks, and improve workflows. According to Salesforce, just over half (51%) of marketers currently use AI, and an additional 27% are expected to incorporate the technology by 2019. As the volume of consumer-generated data grows, AI computing techniques such as machine learning, deep learning, and natural language processing (NLP) — will become increasingly important to data-driven decision-making.

Straightedge have selected the 3 primary benefits that AI can bring to marketing professionals, in order to save time and increase productivity.

 

Streamline marketing procedures

 

Every marketer understands that effective marketing is an ongoing enigma. With consumers needs and expectations changing constantly, it’s difficult for any seasoned marketer to stay in the loop of current insights.

However, AI-driven technology is set to revolutionise marketing, by presenting marketers with a vast amount of quality data at scale, through the use of deep learning.

Deep learning doesn’t require any human operators to command or analyse outputs. Instead, it runs on algorithms that are able to pick up detailed information by mimicking activities of the human brain. This allows marketers to understand, analyse and act faster to develop smarter campaigns and preserve their time for more demanding tasks.

By sorting through billions of segments of information, AI enables marketers to better understand their customers, which can then guide the design and launch of new products and services. An example of how machine learning is already helping multinational corporations is at American Express. The bank developed a real-time recommendation engine to better keep up with changing customer behaviours and methods of access, such as mobile technology.

Using its large data set and a learning algorithm, the system can now identify new customers and recommend new services for existing customers and vendors much faster than what was previously possible.

 

Increased customer engagement

 

Even as consumers balk at privacy concerns, they continue to demand more personalised communications across all channels. Consumers want individualised and relevant content delivered at the right time on their preferred device.

AI is increasingly allowing companies to do just that. Netflix’s recommendation engine, for example, is tuned for hyper-specific categorisation and can match titles to the exact people who are interested in seeing them. These strong recommendations have ultimately resulted in an increased viewership, lower churn and (with the help of a larger user base), more data to strengthen its algorithm. Netflix’s AI-assisted recommendation system is estimated to save it $1 billion per year.

As the demand for personalised service has increased, brands that don’t meet customer expectations will be coming up short. After all, everyone knows a dissatisfied customer won’t return.

An easy way for marketers to customise and deliver great customer service is to invest in AI chatbots. These virtual assistants can help build stronger relationships and interactions with customers in a cheap, efficient and consistent manner.

They use AI to track and predict user behaviour, and with this information, they can implement stronger keywords and personalise customer interactions to make each customer’s journey unique to them. Intelligent conversational chatbots, can rapidly and immediately tackle issues as they come. Unlike humans, chatbot works around the clock to deliver strong interactions and improved customer service whenever issues arise.

 

Continued learning

 

Not only can AI be used to uncover once-hidden insights, it can actually be taught and learn to incorporate previously uncovered insights into new campaigns, optimising outreach to target only the most relevant users.

Over time, these AI solutions will become even more intelligent, effectively eliminating waste, greatly increasing conversions, and promoting real-time decision-making.

 

Conclusion

 

Wherever marketers choose to implement AI, it is of great importance that they realise that artificial intelligence technology is reshaping marketing as we know it and affecting various aspects of business.

Since this technology is continuously developing and expanding, AI should be a top priority investment for marketers that wish to succeed in the competitive market. Those who fail to do so, will be left behind.