How AI Is Redefining Marketing Industry By Amol Roy, Founder, The Shutter Cast
While the business world continues to evolve year after year, there is a growing need for brands to regularly alter the ways to market themselves to be most effective in today’s competitive marketplace.
The world of marketing is fast evolving and marketers are aggressively searching for innovative ideas to make a differential position for their brand. With the advent of Artificial Intelligence, it has become easy to analyze the huge volume of data available online and draw valuable insights out of it. From building comprehensive solutions to streamlining operations and better decision making, AI is optimizing everyday work.
AI Transforming Customer Experiences
While the business world continues to evolve year after year, there is a growing need for brands to regularly alter the ways to market themselves to be most effective in today’s competitive marketplace. This is common knowledge for areas of marketing like digital publishing and social media, where there are momentous shifts in the landscape every few months with the advancements in technology.
Moving ahead, let’s explore the top uses and benefits of AI in marketing:
Hyper-personalization: Traditional marketing methods are no longer as effective as they once were. Today’s consumers want brands to tailor their communication according to demographics, location, or interests. A personalized experience is what customers demand nowadays and AI does exactly that. It helps marketers to personalize their communications by predicting customer behaviour based on intelligence learned from past brand interactions. This becomes possible with the help of following records of every individual -product browsing history, addresses lived and worked at, wishlist, TV shows, and music customers have played etc. Therefore, the only key to better personalization is AI.
Reaching Target Audience in the Right Place at the Right Time: Originally an IT function that was used to measure website activity and basic traffic, web analytics has now become a very important marketing channel. Web analytics, including collection, reporting, and analysis of website visitor’s data, helps identify what users are doing on your website. The focus is on using the website data to determine the success or failure of your marketing efforts and to drive strategy and improve the user’s experience. Web analytics has gained immense significance and subsequently evolved tremendously in recent times and this trend is not setting anytime soon. But what is driving this growth? It is the real-time monitoring of users, easier marketing, prediction of future demand, deep insight into user behaviour and interests, instant brand awareness, reaching the target audience in the right place at the right time, and competitive advantage.
Building Personal Brands: Brands, today, are interacting with consumers at nearly every touchpoint humanly possible: while listening and watching their favourite series/podcasts, while scrolling through Facebook or Instagram, when watching TV, and so on. During each of these interactions, brands tell consumers over and over again how important or life-changing their products or services are. They are customizing their marketing communication according to the preferences of every individual. The excessive exposure to these brands has made the consumers lose any interest in a brand with a faceless logo on a billboard, helping brands create unmatched reach and awareness.
Customer Service Chatbots: In today's era of e-commerce, brands make sales around the clock. Hence, customers also expect brands to solve their queries or provide them support around the clock. AI-based chatbots automatically respond to customer queries using keyword identification in addition to assisting them in ordering food, booking a cab, and increasing organizational efficiency.
Prioritizing all of these and other benefits of AI in marketing is important to succeed in a world that’s increasingly relying on technology.
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