This may sound a bit dramatic, but every day you postpone using innovative AI-enabled solutions in your marketing efforts, you’re losing the competitive edge. Yes. AI is no longer a distant future, it is a reality now, and companies like Amazon, Netflix, Facebook and Google are constantly using it. In recent years, Artificial Intelligence has gradually paved its way deeper into every company’s marketing efforts by helping brands enhance every step of the customer journey.
Many AI-powered tools are becoming affordable and accessible to medium- and small-sized businesses. Here are five ways that you can use Artificial Intelligence in your business-
1. Know what your customers are looking for
AI can help you analyze a lot of useful information about your customers, including their brand preferences and buying frequency. By segmenting the audience based on their purchasing behavior, as well as, other important parameters, you can serve your customers better than ever. In 2012, the eighth-largest retailer in the United States, Target, accurately predicted a teenager’s pregnancy based on her purchasing habits before she had even discovered she was (unexpectedly) expecting! Interesting, isn’t it?
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2. Use Dynamic Pricing for your products or services
What do the hotels, airlines, parking, and ride-sharing companies like Uber have in common? Dynamic pricing. A practice that’s becoming an important tool for even e-commerce retailers like Amazon. Is Dynamic pricing important for you? Well, even a small retail business with only a few product offerings will have a wide range of customers with different budgets, tastes, and values. So, AI-powered dynamic pricing will help you win more customers, or to the very least, retain the existing ones.
3. Use chatbots to enhance the customer experience
Most of the e-commerce apps use AI chatbot to manage their Tier-1 communication with their customers, thus saving their time, money, and a great customer experience. Read how AI chatbots are revolutionizing customer service.
4. Generate more ROI using AI-enhanced PPC advertising
“Google controls 40.7% of the U.S. digital ad market, followed by Facebook with 19.7%.”
Either your in-house team member or a PPC agency would be managing your pay-per-click ad campaigns. But, AI-powered or machine-learning algorithms can help you uncover new ad channels and optimize your targeting, layout, bids, and even copywriting. Facebook is already doing this with its ad delivery optimization.
5. Personalized the browsing experience of your website
AI in web development and AI in UX design is also an area that you can explore. It will help you intelligently personalize your site for different users to enhance the visitor experience. Both consumer brands and publishers like The Wall Street Journal, La Redoute, and Pandora are using AI to improve their website experience.
With AI, you can personalize-
- User experience of your website– AI can help you analyze multiple data sets from a single user, including their device, location, and demographics, with the website. A great way to personalize your content and offers, thus improving the conversion rate.
- Push notifications– Yes, with AI, now you can even send personalized push notifications catered to an individual user. Delivering them the right message at the right time.
Gartner has predicted that by 2022, AI will replace about 33% of data analysts in marketing.
While AI is still a new concept in the marketing space, it is quite promising. Most importantly, AI enables marketers to fulfill their dream of engaging with every individual customer in a personalized and meaningful way.
So, what impressive examples of AI in marketing have you seen lately?