An increasing number of companies are beginning to spend their marketing dollars on artificial intelligence (AI) technologies.
From personalized music recommendations at Pandora to targeted online ads that can learn your preferences, AI marketing is transforming the way that marketers engage with consumers.
One recent study found that 20% of B2B manufacturers use AI-driven software applications for customer service, and another report predicts that by 2020, 70% of the global workforce will be employed in AI-related jobs. Here at https://ncreportcards.com/ has some more information about the future of AI marketing.
By 2025, AI marketing is expected to be a $4 billion industry in North America alone where half of all companies worldwide use AI in some capacity.
In the same way that digital sales have outpaced sales through brick-and-mortar establishments, AI marketing is poised to have a profound impact on how brands interact with customers.
In this post, we’ll examine just a few ways that AI is transforming marketing today and discussing some of the potential advantages and challenges associated with this burgeoning field of research.
AI Marketing: Advantages and Challenges
The primary challenge with AI-driven marketing is that there are no industry-wide standards for best practices. While some companies are working to establish a standard for artificial intelligence in marketing, there is no comprehensive guidebook or common set of guidelines to help marketers interpret the results from tools like IBM’s Watson, Marketo’s Hadoop, and Salesforce’s Einstein Machine Learning.
In a recent survey by IBM’s Watson line of enterprise products, it was found that 85% of participants didn’t have a clear idea of how AI works or how AI can be integrated into their digital marketing plans.
For example, Direct Energy is using data from its phone calls to train deep learning models on the company’s website. By taking advantage of new software tools like Einstein Machine Learning, Direct Energy is able to gain insight into what customers really want. By doing this, the company has been able to more effectively reach out to customers with informative newsletters and personalized offers through email marketing.
AI Marketing: Aspects of the Future
While AI undoubtedly has great potential to transform marketing, it also carries its share of challenges. Some researchers have even expressed concern that machines can have a hard time comprehending certain concepts or expressing themselves in the sort of language that humans understand.
The development of smarter machines will require patience and continued research by companies around the world. One thing is clear however—the race for artificial intelligence has just begun.
AI: The Future of Marketing: Conclusion
By taking advantage of the latest software and research, companies can harness the benefits of AI to enhance their marketing campaigns. This is just one example of how AI is changing the customer experience and will likely continue to do so moving forward.
AI has already transformed other industries including finance, healthcare, and transportation. It’s not hard to imagine that it will ultimately become an integral part of marketing as well.
An increasing number of companies are beginning to spend their marketing dollars on artificial intelligence (AI) technologies. From personalized music recommendations at Pandora to targeted online ads that can learn your preferences, AI marketing is transforming the way that marketers engage with consumers.
One recent study found that 20% of B2B manufacturers use AI-driven software applications for customer service, and another report predicts that by 2020, 70% of the global workforce will be employed in AI-related jobs. By 2025, AI marketing is expected to be a $4 billion industry in North America alone.
AI: The Future of Marketing: How AI Can Enhance Email Marketing
Another area in which AI has found widespread applications is email marketing. By analyzing users’ past behavior and preferences, marketers can send customized emails that are more likely to be opened and acted upon.
For example, one company used an email marketing software tool to track the activities of its customers during their trips to the mall.
The tool was then able to match this information with data from social media platforms like Facebook, allowing the company to create targeted ads that were more relevant and compelling for potential customers.
By using similar strategies, marketers are able to send emails with specific recommendations, discounts on products based on past purchases, or reminders about upcoming sales.
A recent study found that the use of such AI-driven email software by several retailers increased sales by 2.3%, which may actually appear underwhelming, but when you consider that brands like Nordstrom and Zappos reportedly saw 12% and 15% increases in sales respectively, this is a significant statistic.
Another benefit of AI-driven email marketing is the ability to reach your customers in new ways. For example, one company’s AI algorithm was able to predict which customers were most likely to be willing to try new products or services offered by the company.
This sort of personalized messaging is likely to become increasingly sophisticated in the next few years, as developers add more layers of data such as your location and age grouping into their models.