AI's Impact on Marketing
Source: forbes.com
AI in Marketing
Just as the internet transitioned from academia to the broader world, AI is heralding a new revolution. The internet brought instantaneous information but also concerns. Similarly, AI offers opportunities and valid concerns.
Like the internet, AI must prove itself trustworthy to gain acceptance. One sector with opportunities to drive customer satisfaction through AI is marketing. Marketers can draw from data sources that feed customer data into workflows that drive personalization, ad optimization, and customer service.
AI Adoption
Successful AI adoption relies on regulations, talent, infrastructure, ecosystems, and data. AI systems struggle without enough data or learn the wrong things if data is inaccurate, leading to misleading output. For marketing, timely and accurate data helps inform and accelerate workflows. Leveraging vetted data sources and choosing user-friendly data collection platforms is critical.
AI Transformation
AI is transforming marketing, adapting concepts from the first internet boom to meet customer sophistication. Consumers demand tailored experiences. AI systems that draw from consumer data such as order history and demographics to deliver personalized recommendations are more likely to satisfy consumer needs. AI learns as it gathers more data, increasing the accuracy of its recommendations and boosting ROI.
Marketers can leverage AI-enabled insights to design programs that tap into customers’ preferences to enhance loyalty. AI can uncover activity changes in a specific product category, enabling marketers to capitalize on any trend.
Customer Journey
AI can help marketers optimize the entire customer journey. By analyzing datasets to identify potential drop-off points, recommend next-best actions, and personalize touchpoints in real time, AI can help brands deliver the right message, at the right time and through the right channel, improving conversion rates and customer satisfaction.
Businesses can leverage AI to engage with their customers. Natural Language Processing enables chatbots and virtual assistants to handle customer inquiries in real-time. Marketers can have AI analyze these interactions to identify key areas of concern and suggest ways to improve the experience.
Key concerns such as the potential effect on the environment, anxieties about data privacy and fears of human worker replacement must be tackled head-on. Marketing is one area where AI can be leveraged to reach customers directly. As marketers, we can take advantage of AI and show others the benefits of investing in these new tools.