Marketing teams in enterprises play an important role in attracting customers and infusing them into the sales pipeline. For a customer-centric business, this holds a lot of value as customers make up for most of their revenue. Incorporating Artificial Intelligence, or AI, in marketing is becoming a necessity to not just keep up with the digital transformation but to also serve changing customer dynamics.
Businesses that are taking advantage of AI solutions for marketing find a lot of benefits. From enhancing customer experience, streamlining marketing efforts, and driving conversions, AI can do a number of things. Here are some of the ways you can use AI marketing solutions and how they’ll help your organization.
Customers can have queries about a product or service at any time of the day. Hiring customer service representatives to get in touch with every customer and resolve the queries can be an expensive undertaking. AI-powered chatbots can resolve common queries and frequently asked questions by customers without human intervention. If a problem is too complex, they can direct them to a human agent reducing the workload on them.
- Enhanced Personalization
It is estimated that over 40% of consumers didn’t choose a brand because of a lack of personalization. People are more likely to engage with products and ads that are tailored for them or have a personalized touch. With the help of AI solutions and machine learning, companies can make use of predictive analytics to better understand customers needs. Tailoring content for an individual provides a higher possibility of conversion which leads to increased revenue.
- Streamlined Marketing Efforts
Not everyone who visits your website will turn into a customer. With deep learning and AI, you can streamline your marketing efforts and target only those leads who have a higher chance of a conversion. Using AI in marketing solutions analyzes a customer’s past behaviour and preferences, it becomes easier to assess a lead’s state of mind. This saves marketers from targeting unworthy leads and spending valuable time and money.
- Dynamic Pricing
Dynamic pricing is a great way to attract customers and improve your sales records. Discounts, rebates, and offers can entice a number of leads to turn into customers. Organizations can use AI to intelligently plan their dynamic pricing based on changing customer demands, demographics, availability, holidays, and several other factors. If people are more likely to buy a certain candy during Halloween, then stocking it can be a great way to increase sales and revenue.
- Improving Content Delivery
While you’ve streamlined your marketing efforts and gotten the hang of dynamic pricing, your generic ads can still eclipse everything. Instead of targeting everyone under the shining sun, AI marketing solutions can help you refine your ads and target only the demographic that is going to use your product. With audience analytics, you can identify where your ads are performing the best, what is the feedback of users on those ads, and what you can do improve them. This way you can accurately identify potential customers and show them hyper-relevant ads.
- Search Engine Optimization
Marketing campaigns are seldom performed without search engine optimization. Being on the first page of search engine results gives the brand an upper hand over several other competitors around the world. For an organization working in a highly competitive market, even a little advantage can make a huge difference. Integrating AI into your marketing campaigns can help you find the best keywords to target and can also improve your content by pointing out spelling mistakes and grammatical errors. Search engines like Google emphasize a lot on search intent and curating content that leverages it can give you a lot of potential customers.
- Increased Cost Savings
AI solutions in marketing have the potential of taking over human tasks. With the incorporation of chatbots and automated AI models, a number of repetitive processes will be completed quickly. In a survey, it was estimated that more than 85% of future customer interaction can happen without the need for human interventions. This gives an increased ROI to organizations as they can save on hiring human resources.
While the benefits of using AI in marketing can lure you into jumping on the bandwagon, you should consider several other conditions. First, you should assess whether your marketing team requires a sophisticated AI system in place and what changes it will bring to your existing marketing efforts. Choosing an AI development company is also a tough decision as you’d have to compare different vendors based on different conditions. Just implementing AI solutions in marketing because it is catching on shouldn’t be the way to go. Serving your consumers better and turning potential leads into loyal customers should be the target.