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We have all heard, seen and read the buzz about AI (Artificial Intelligence). It's developing so quickly and you might feel as though you and your business are being left behind. What does it really mean for your business and marketing now and in the future? We are here to help it all make a little more sense.
What is AI?
Firstly, AI stands for Artificial Intelligence. AI is an interdisciplinary science with multiple approaches which is why there are so many different definitions and versions out there. There is no singular definition of AI however at its core it is capable of performing tasks normally required by human intelligence.
AI marketing is a method of maximising intelligence technologies to collect data, and customer insight, anticipate the customer's next move, and make automated decisions that impact marketing efforts. When applied to the usual tasks, artificial intelligence can learn, act and perform with humanlike levels of intelligence. With AI, marketers can understand customers’ behaviour, actions and indications in a better way which can help save us a lot of time and money.
Why is AI marketing important?
AI marketing allows us to gain a lot of marketing data analytics from social media, websites and emails faster than ever before. This is why we believe it is a must for every business now.
Automation
AI makes your marketing automation more efficient. It has the ability to work with automation to enable translating data into decisions thus having a positive impact on your business. Everything is about data, but what matters is how quickly and accurately it can be turned into actionable insights. This speed can allow you to scale the number of campaigns you are running online, determine the next action that is best for your customers and then determine which campaign is best for them.
Minimising Errors
Let's be honest, we as humans are prone to making mistakes. AI exists to avoid human intervention which can eliminate the likelihood of human error, especially in the most concerning aspect, data security.
The common data security problems make many businesses worried about the lack of safeguarding when it comes to customer data and other critical data of the company. With cyber-attacks on the rise the risk that every eCommerce business has but fortunately, AI can help address these problems.
Cost Saving
AI can help you eliminate many resources used to create and employ a marketing strategy. It has the ability to work more quickly and efficiently which in turn will increase your revenue. Instead of having employees spend time on repetitive tasks you can have AI do this for you.
Personalisation
What will make you stand out against the competition? Personalisation! If you are worried that this aspect of your business will be lost due to Artificial Intelligence don't be. Many companies have already implemented AI to personalise their social media posts, website, emails and other content to understand better what customers want. For example, product recommendations are being used across a number of businesses like Amazon and Nike to make the customer's experience more personalised. This is due to AI, an implementation that could never be carried out by a human on the level it currently is.
How to use AI
Sales forecasting - Knowing what to do next and carrying it out correctly is what every business owner aims for in order to meet expectations and earn more sales. Using AI in marketing allows marketers to understand customers and their actions based on the data collected previously.
Data collection - The insights that Ai collects for businesses are valuable sources for them to understand customers at their best and make decisions based on them. The AI algorithms can collect billions of data from customers via their site interactions, geographic specials, previous purchases and more.
Content Generation - AI tools can help content creators create content in a much more efficient and easier way. Although content at its core is routed from human creativity, AI can be used for specific tasks such as email content messages and social media content performance.
Chatbots - If you haven't used a chat on a website before you will have at least seen one either via a live chat on a website or through social media, especially Facebook Messenger. This is how AI is applied to help build a better customer experience. This form of AI can be good to help keep communication up with customers when you are unavailable.
Although we believe AI is the future and the way forward for most if not all businesses, it will never replace marketers. We need to learn to work in tandem. AI can help marketers accomplish and improve on what they are already doing and what to do next. AI has made leaps and bounds over the years but it still had a long way to go. How you will implement this form of technology in your business is up to you.