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People tend to underestimate the importance of AI in marketing. We genuinely believe that you’ve got to start implementing the basics of artificial intelligence in your marketing plan in 2019. Here’s our guide on where you should start and what is AI in marketing and advertising.
When you work with your customers and market your product on a variety of target audiences, you’ve got to use the latest technologies. This will determine the success of your marketing and advertising efforts.
Unfortunately, some marketers tend to underestimate the value that artificial intelligence in marketing brings to the table and ignore the benefits that they can use. Today we’ll help you understand the essentials use cases of the AI in marketing.
1. Analyse Data to Improve Target Audience Research
One of the fundamental values that AI in marketing has is the amount of data that it can analyze. No matter the kind of business you run, AI technologies can help you sort out the collected data and improve the understanding of your target audience.
While you run an e-сommerce or offline business, you still store the data about your users/clients in the digital database. You can put it to good use and let AI take care of analyzing the needs of your customers to improve your interaction with them.
How it benefits your business: Using AI in marketing is crucial, and when you let it analyze the collected data about your customers, you will be able to understand what they need, what the look for and how they interact with your products or services. This way, you’ll be able to improve your sales pipeline and, therefore, land more sales.
2. Create a Chatbot to Improve Customer Experience
Chatbots are hyped, and there is a reason for that. They not only help you ease the life of your customer service agents but can also increase the amount of data available for users.
A properly tuned chatbot can serve as a middleman between you and your customer. Since providing all the necessary information on the product or services you have is one of the critical elements of marketing, chatbots can become a great tool to support it.
As of today, setting up your own chatbot is not that hard. There are plenty of tutorials on the internet. You can start with the basic one by setting up your Messenger bot through Facebook. This way, your Facebook page will become actually useful and bring real value to the users besides the viral posts and advertising.
How it benefits your business: Chatbots can help your customers get more information regarding the product or services they plan to use through your platform. They can serve as a helpdesk with all the answers and additional data. They can also upsell products and notify the users that have already used them regarding the new services or features you have.
Basically, when we talk about the data analysis, that’s the point where you can collect additional data from your users to analyze later.
3. Let the AI Take Care of the Audience Segmentation
What is that data analysis that we talk about? What is an example of what it can do in particular? One of the things that it can do is the target audience segmentation.
When you plan to work with several target audiences and groups of users/customers, you’ve got to know who is who and how to approach each group. AI can help you with that. It can sort out the fundamental differences between the users you deal with and group them by selected filters.
How it benefits your business: This way, AI will do ground research for you so that you could focus on the marketing plan for each group of users. You will already have the target audiences sorted out, and all of the differences between them will be highlighted. You’ll just have to figure out how to approach each group and produce content to support this.
Segmentation helps you avoid knocking on the wrong door with your advertising and services.
4. Improve Product Recommendations
If you’re running a retail business and have multiple products to offer to your clients, AI can help you choose the appropriate recommendations.
So basically, you need AI to review two primary data sets:
- Customer’s preferences
- Features and descriptions of your products/services
While having these datasets analyzed, AI will be able to provide your clients with the best recommendations. Therefore, you’ll be able to market and sell products more efficiently.
How it benefits your business: It can increase the number of sales since you’ll be able to market appropriate products to the customers according to their real needs.
5. Implement Dynamic Product Pricing
One of the more rare things that giants like Booking.com are already using is dynamic product pricing. When it comes to AI in marketing, it can help you update things like pricing on the go depending on the particular time frame.
This will work if you deal with the products or services where price depends on the demand in a specific time frame. So for example, if you’re in a hotel or real estate business, you’ll truly enjoy working with the AI. This way, you’ll be able to change the pricing without actually doing it manually.
How it benefits your business: You can market your products or services based on the demand data and change the pricing on the go. This will drastically improve your sales without additional required manual work from you.
There are plenty of AI use cases of how artificial intelligence in marketing is affecting the world and can improve every aspect of your interaction with your potential customers. We’ve reviewed a few, but the pool of possibilities is enormous. Now when you know what is AI in marketing, you should try to improve your marketing efforts with the help of artificial intelligence. The results will come quicker than you may think.