Artificial intelligence is reshaping how marketing works in amazing ways. AI and mobile devices have enabled brands to connect directly with their audience. Now, digital advertising is changing as we know it. With AI quickly outpacing human intelligence, what does this mean for the future of ad formats? We can assure you that this blog will help you win the argument that the marketing department is not a cost center but an investment center!
What is Artificial Intelligence in marketing?
AI is a system that uses algorithms to analyze data and automates the decision-making process. It is used in marketing, customer service, product development and many other fields. Relevant and tailor-made ads are a primary concern, so marketers can even use AI to create personalized ads.
The key is to use AI to collect data about your customers and show them ads that will be relevant to them. The use cases for AI in marketing are endless. From helping consumers shop to aiding digital marketers in their campaigns, Artificial Intelligence (AI) is here to stay. Some Top Companies Using Artificial Intelligence in Marketing: IBM, Google, Facebook, Apple
Here are some of the top use cases for AI in marketing:
Automating the tedious parts of ad-buying and ad-serving, like automating the process of buying media and transparently tracking the results. An excellent example of this is Unilever, a consumer goods corporation, it deploys AI data centers located all over the world to combine insights from many sources, such as social listening, CRM, and conventional marketing research. Using this knowledge, Unilever created a variety of ice cream flavors with cereal flavors for the Ben & Jerry’s brand.
Providing better insights and recommendations for marketers, including new ways of reaching consumers based on their interests, behaviors, and past transactions. For example, Since its first release, the Amazon team has improved Personalize’s capability to the point where it can now make recommendations for a variety of quickly evolving product types that are up to 50% better
Increasing efficiency across the entire marketing funnel by streamlining processes like creative planning and execution, measurement, reporting, analytics and optimization. For instance, To process the data and provide customers with tailored marketing messages, Starbucks uses predictive analytics. When a user walks up to a nearby store, these messages include suggestions and deals designed to raise the customer’s average order value.
AI can even help you improve your site performance and user experience, given you overall support. Using a marketmuse AI-powered content research tool, Tomorrow Sleep saw its organic traffic rise from 4,000 per month to 400,000 per month within a year.
Multiple forms of AI in Marketing
AI is not new, it has been around for a while. But its usefulness is growing at an exponential rate. It gives you a lot of advantages over traditional marketing channels For example, you can reach more people without spending huge amounts of money.
It also helps you to reduce your risk by not having all those human resources involved in creating and implementing campaigns, only machines will do that job for you.
AI is not just limited to smart products but also includes other objects like cars, refrigerators, washing machines etc. This means that companies can now connect their products directly with consumers through the Internet allowing them to interact with them in real time.
For example, instead of selling your product via TV or radio ads we will now be able to speak directly with our customers via chatbots and voice assistants which means we can offer personalized services or sell specific products based on what they ask us!
AI-powered CRM systems
One of the strategies that enables a business to manage and assess its relationships with its past, present, and potential consumers is Customer Relationship Management (CRM).
This is a result of manual work being done throughout processes or challenges using CRM solutions. Therefore, incorporating AI into CRM processes could benefit firms by enhancing CRM procedures and minimizing the need for human participation while completing particular tasks like manual data entry. Employee productivity increases as a result of their increased attention to greater priority tasks.
Here are different ways AI-powered CRM can benefit marketers:
Boost Customer Retention and Engagement With the help of AI, marketers can personalize their messages to customers and make sure that they are delivered to the right person at the right time. This will ensure that your customers stay loyal to you and keep coming back for more
Increased revenue for the business and improved customer loyalty If you use chatbots in conjunction with your other marketing efforts, it is possible for them to predict which customers will be most interested in a certain product or service, thereby allowing you to connect with those potential buyers before they buy anything from you at all! This means an increased chance of conversion rates, which will ultimately lead to higher profits for both you and your customers alike!
Reliable Sales prediction AI-powered CRM also helps businesses predict sales figures based on previous sales history data collected by other channels such as email marketing campaigns, website consultations, external sales channels like social media and advertising networks, as well as internal metrics like lead quality scores based on purchase history or other factors that indicate whether or not a lead is likely to convert into a sale.
Blockchain marketing is a new model for the marketing industry, which will change how consumers interact with brands. Blockchain technology can give brands a real-time view of their customers’ behavior, helping them to deliver better customer experiences and drive more engagement. While blockchain still seems like some far-off technology, major companies like Microsoft and Amazon have already switched to it to enhance daily operations and internet security.
Blockchain is now a valuable tool for marketing and advertising. Deeper insights into audience interactions with advertising campaigns are provided by blockchain’s decentralised ledger technology.
Blockchain is a terrific investment that will not only help us build trust with our consumers but will also safeguard our collective online privacy and reduce fraud and theft. From a philosophical and practical standpoint, blockchain offers a picture of a more reliable and secure digital experience.
Blockchain marketing helps companies to:
Connect with consumers in real timeConsumers are able to access the same information that companies use to make business decisions, such as the cost of shipping or payment terms. Brands can also offer tailored offers based on what consumers have purchased in the past.
Drive revenue growth through predictive analyticsBy analyzing data from both sides of the transaction, consumers and businesses, marketers can predict which products and services will sell well and help businesses optimize inventory levels so they always have enough inventory available when needed by customers.
Boost Security Each blockchain transaction is validated and made available to the public, but the parties involved remain anonymous. You’ll have enhanced security as a result for all transactions.
Prevent Advertising FraudBlockchains can be employed on ad networks, to remove the middlemen and directly track the users who interact with your ads. Through the open ledger, advertisers can identify the source of fraudulent or blacklisted clicks, and blacklist fraudsters. Blockchain can be used to combat fraud issues across the networks.
AI-powered retargeting – Boon for E-commerce
But the benefits don’t stop there. You can also use AI to reduce marketing costs. For example, you can help your business reduce its cost per acquisition by 25%.A marvelous example to note here is RedBalloon, an ecommerce company’s return on ad spend increased by 3,000% thanks to an AI advertising system, which also helped them save costs. Additionally, they reduced marketing expenses by 25% as a result of increased effectiveness.
AI is a powerful tool that can help ecommerce companies grow their business significantly. Here’s how:
Reaching new customers who visited your site but didn’t make a purchase. AI will recognize visitors who have shown interest in your products or services and show them relevant ads on other sites or social media platforms.
Expanding your customer base by targeting people who may have been interested in one of your products, but didn’t realize they had a specific budget for it. You’ll be able to reach people with all budgets and find new opportunities for growth in this way.
Increasing sales by providing more value for customers who have already bought from you through retargeted ads and other marketing strategies.
How AI is impacting the lives of marketers?
AI marketing is a new way of doing business that is based on artificial intelligence. It is about creating more effective marketing by using data science and machine learning techniques.
AI marketing is an intelligent way of using technology to create customized content, whereas AI marketing tools help you in building better strategies for your business. They also help you in creating more effective sales funnels, automating tasks and monitoring KPIs (key performance indicators) for your business.
8 best AI marketing tools that make marketers life easy in 2022:
SurferSEOIt’s a good idea to have a tool like SurferSEO on your marketing tool belt. SurferSEO allows you to find the most visited pages on your website and then generates a list of links that will help you get more traffic to those pages. You can sort through the links that have already been clicked, or create custom lists of sites that should be part of your link building campaign.
Seventh SenseSeventh Sense is another great tool that allows you to do keyword research and track ROI from your efforts, all from one place! It also helps you determine which keywords are more valuable than others, so you can focus on those instead of wasting time on low-value keywords like “local business,” which won’t get you much traffic at all.
Linkedin Sales NavigatorIf you’re looking for an easy way to find prospects in your database and start reaching out, Linkedin sales navigator is one of the best tools out there for finding people who might want what you’re selling via social media or email marketing campaigns (or even cold calling!)
GrammarlyIt has highly precise AI that instantly evaluates internet grammar and spelling. However, you can also add it to Google Chrome as an extension. The Premium and Business packages offer more robust features like tone, clarity, and style checks.
CopyAI In 2020, an AI copywriter was developed and released. With time, it gained enormous popularity and quickly became the go-to tool for copywriters. It provides more than 70 tools that enable automated artificial intelligence content generation.
SocialbakersIt can provide audience and social media profile information for your brand. This usually involves leveraging the strength of AI to analyze social data at scale, grasp what is being said in them, and then derive insights from that data.
Brand24Brand24 is a social listening tool that collects and examines all publicly accessible Internet mentions of your keywords. All of them are reachable from the same dashboard. It provides you with immediate access to information about your online mentions. Tools for reputation management are always useful because 93% of people research products before making a purchase.
Chatfuel Chatfuel is considered the best chatbot platform for Messenger. With Chatfuel, you can boost sales, customize marketing, and automate support. You can create your bot right away without learning how to code.
To conclude, the world of advertisement is already benefiting from AI and will only continue to do so in the future. As more and more businesses incorporate these tools into their marketing strategies, consumers are going to see the benefits of AI-driven advertisement for themselves. And that’s good news for everyone.
AI is one of the more exciting things to happen in advertising over the past few years. With the boom in mobile ads, AI can deliver relevant ads to mobile users. From searching for products to trying them out in stores, artificial intelligence has turned into a powerful tool that is reinventing how advertisers reach their desired audience.
It comes with a number of advantages, from saving costs to making online ads more effective. But you don’t have to take it from us, that’s how the industry feels about it as well. It’s a change that has attracted billions of dollars in investment, and will likely continue to do so for the foreseeable future.
All the best for your next argument? Now you know how AI can make marketing as an investment center and not a cost center!