Published work. Technology. How AI is transforming digital marketing.

 

5 Ways AI is Transforming Digital Marketing

 

AI or artificial intelligence is everywhere these days. From its inception in 1956, it has come a long way in aiding human beings to automate and simplify their tasks. Automated personal assistants like Siri or Alexa are finding their way into every home. Although there are issues of rampant disruption and worker displacement in the marketing industry, AI has become integral towards creating quality and automated content in the industry. Areas, where AI is used, are advertising automation and optimization, chatbots assisting websites, and content personalization amongst many other applications. Here are 5 ways in which AI is transforming digital marketing:

 

  1. Using Machine Learning to turn Big Data into an actionable entity: 

Instead of using stated intentions via focused groups or surveys,  Big Data’s predictive analysis and propensity modeling tools we can better judge the consumer demand. Using them, we can find out exactly what the consumer wants, and the biggest advantage of it is that larger the dataset is, the closer is the fit between consumer demand and what the company is offering. 

 

For example, if one company has a target of improving its sales, the algorithm underlying the analytical tool will identify the most optimal strategy to reach this goal by crunching a lot of numbers present to it as data. The target audience, campaign objectives, and desired outcomes are fed to the system and the tool recommends various campaign strategies along with the costs of each strategy. Then the marketing campaign is made public.

 

2.      Analyzing consumer behavior and turning the statistical data into marketing plans:

Websites and platforms are good places to collect a lot of user statistics and data. Most marketers base their campaigns and strategies based on data collected from users. While websites collect huge amounts of user data, it isn’t possible to sift through that using any other tool than automated AI tools as it is extremely laborious to do so.

 

Here AI becomes of relevance, it takes that huge amount of data and traces patterns in it to predict consumer behavior. Those patterns are then used to create marketing strategies and plans based on customer needs which have been predicted by the AI.

 

3.      Using chatbots to intelligently converse with customers and meet their needs thus replacing human intervention:

In 2016 the first generation of chatbots emulating human beings appeared on major websites. The reaction of the consumers was favorable, and they soon became a trend. A survey of 1000 consumers found out that 49% of them were partial towards communicating their problems via text or chat on the internet, through their phones or otherwise.

 

Millennials favored this method of communication the most. 54% of millennials preferred chatbots over other methods of communication. So keeping the future consumers in mind, companies must think of making the jump to create chatbots for their websites to solve troubleshooting and other problems.

 

4.      Finding potential consumers and employees:

AI can be used to quickly sift through profiles of customers and employees which usually exist among large piles of data, going through which is laborious, time-consuming, and costly for a human. Using AI tools companies can identify potential consumers, clients and employees easily and the analytical tools can be smart to the extent of letting the user know even how warm a particular lead is.

 

5.      Analyzing historical data to predict consumer behavior and escaping large costs to collect new data:

According to the business and industry, it costs 5 to 25 times more to acquire new consumers than keep old ones. Modern deep learning techniques can aid companies to go through the existing data and build customer profiles based on historical data for no or little additional cost. Methods like text analysis can be used to create a customized experience for each consumer, thus maintaining customer loyalty and lowering attrition rates. This huge database of historical data is a perfect substitute for gathering new data to predict consumer behavior patterns which is costly.

 

AI is still a new technology and there can be many more advances to the already existing tools to detect consumer behavior. Soon it is going to be an integral part of everyone’s lives, aiding human beings with the smallest of things making life easier for us. Although the day when machines take over human beings is very far, we can rely upon AI for our marketing needs.

 

 

Footnote:

 49%  statistic-https://www.aspect.com/globalassets/2016-aspect-consumer-experience-index-survey_index-results-final.pdf

5 to 25 times- https://hbr.org/2014/10/the-value-of-keeping-the-right-customers

 

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