Artificial Intelligence is seen as a game changer in the world of marketing. It is slowly transforming the way brands and consumers interact. Businesses are utilising this technology to improve the way they market their products and services and ultimately boost their sales.
Marketers have always dealt with information, gathering and processing to discover what makes consumers tick. This involved a lengthy process, but now the speed at which AI and machine learning technologies process information is different from the way humans handle data.
Big Data processed at a greater speed means decision making is quick. The number of people required to go through certain tasks in analysing the data will also decrease. This in turn will reduce the operational costs while maximising performance.
Accuracy and precision
Human beings are prone to mistakes, after all that’s what makes us human. The use of AI brings accuracy, as more data will be crunched and processed better than an individual can ever handle.
When it comes to predictive analysis, machine learning technologies are efficient because of the ability to identify risks and opportunities associated with a certain decision being made.
In targeted advertising, machine learning can deliver ads that are tailored for that individual based on the information they provided and their behavioural habits while using the internet.
The targeting feature reduces wasted effort by marketers, as they can zero in on people who are likely to support their business. Facebook Ads have been able to leverage the power of machine learning technologies, and allows you to reach people based on their demographics, location, interests and behaviours.
In today’s world, a personalized service has become a prerequisite for many consumers. People expect to see value for money. After all, it is a hallmark of customer service. AI powered chatbots have been introduced by some companies to assist customers with answering their inquiries.
Besides assisting customers with efficiency, chatbots are also able to collect valuable insights from the consumer. This results in improved customer service and an increase in sales.
E-commerce continues to grow and is seen as the future of shopping. AI has infiltrated that space with some websites programmed to analyse your browsing activities. The information collected will be used to design personalised offers for the visitor.
Netflix is a good example of how a company is applying machine learning algorithms to personalize services based on customer demands.
There is no doubt that artificial intelligence is reshaping marketing by assisting organisations to automate some of their business operations. However, that does not mean humans will be eliminated from the process. This technology should be embraced and be seen as something that will improve the industry, speeding up the marketing processes and working hand in hand with humans to complement each other.