Here’s the bottom line: if you’re not employing AI in your marketing, then you may as well say goodbye to your efforts today.
And I’ll tell you why.
The world we live in today is more competitive, digitized, and fast-paced than it ever was.
The innovation of business technologies, particularly in artificial intelligence and automation, have shaped the entire business acumen at a global level.
These AI technologies have had a massive impact on marketing and businesses as well. According to a Semrush, 71.2% of marketers agree that AI, particularly chatbots, can enhance personalization to a great extent.
And this is where the term ‘AI marketing’ comes into the equation.
To stay ahead of the game, marketing teams and businesses today need to know exactly how AI is being used in marketing and what the best tools are to help.
Let’s dive in.
What is Artificial Intelligence Marketing?
First things first, let us begin with the basic definition of Artificial intelligence marketing.
AI Marketing
AI marketing is a mechanism where AI-related technologies, concepts, tools, and methodologies are used to make better business decisions, enhance the customer journey, and eventually, increase ROI.
In a broader perspective, the role of AI Marketing is to understand the emotional, psychological and contextual components that drive consumer behavior.
It enables you to improve your marketing strategy through a better understanding of your business data, customers and behaviors through various processes such as predictive and data analytics.
Let’s break down some of the key elements of AI marketing.
(If that doesn’t interest you, read on to the next section on the 5 reasons why you should employ AI in your marketing).
Major Element of AI Marketing
AI marketing is largely based on the following components:
Automation Platforms
Chatbots are an example of how you can achieve effective automation in your marketing campaigns.
If designed and implemented accurately, chatbots can provide data insights that can aid in making better short-term or long-term business decisions and achieve marketing goals.
One of the major reasons why automation plays a vital role is the fact that it helps bring in huge amounts of data within relatively less time and less effort.
Machine Learning (ML)
This is an AI concept that revolves around studying and analyzing human behavior, patterns, and actions based on past data that helps in forecasting better and more accurate outcomes.
From a marketing perspective, this becomes an integral part of today’s business environment where it can help your learn more about your customer buying trends even before they actually buy a product or a service.
Analytics
Keeping into consideration the amount of data that can be collected from various digital outlets and platforms, it is imperative for you to understand the relevancy of this collected data. Irrelevant data will not only waste marketing resources but can also end up in inaccurate business decisions.
This is primarily why many businesses and marketers today use various marketing analytics tools and techniques to identify and categorize data according to their campaigns, product placement and business goals.
The elements of AI solutions
There are also some elements of AI solutions you should be aware of: Core AI Solutions, Application AI solutions, and Industry AI solutions.
AI Marketing generally falls under Application and Industry AI solutions.
Why Should You Use AI Marketing?
As a business owner or a marketer, you might have wondered what the impact of implementing AI into your marketing strategy would have on your existing or new business.
The impact is huge!
A survey conducted among global marketers in 2020 reports that 41% of marketers witnessed revenue growth when AI and automation were used in marketing campaigns.
The survey was primarily conducted to study business outcomes through the use of various AI mechanisms and tools.
Here are the other benefits from the survey findings:
Image Source: www.statista.com
From this survey, it was realized that AI techniques and automation bring in more than just one benefit to businesses worldwide. Revenue growth, personalized customer experience, reduction of overall time spent on data collection, accurate prediction of consumer behavior, and data analytics – all these elements were attributed to AI in marketing.
Here are some more reasons why you should leverage AI in marketing to be an integral tactic in the modern-day business environment:
1. It’ll Reduce Your Business Costs
AI marketing techniques can reduce your overall business costs to a huge extent. For instance, you do not have to pay high wages and overtime to your marketing teams anymore. Automation enables you to use various software, applications, and mechanisms that collect data in a relatively quick time and at fewer costs.
2. You’ll Reach A Larger Target Audience Outreach
AI marketing allows greater customer outreach as compared to traditional marketing techniques. According to a report, chatbots handled 85% of customer service conversations initiated over digital or