What is Artificial Intelligence Marketing?
Artificial Intelligence (AI) has made the transition from once being a glorious manifestation of sci-fi imagination to today emerging as a technological reality capable of disrupting industries.
Artificial Intelligence (AI) has made the transition from once being a glorious manifestation of sci-fi imagination to today emerging as a technological reality capable of disrupting industries. In an increasingly hypercompetitive business environment, the marketing function is no exception to the application of AI. In fact, in a recent PwC study, 72% of the marketers interviewed, consider AI as a “business advantage”.
When actionable data is considered the fulcrum for growth, the modern marketer barely utilises 5% of the customer-centric data – that often exists in straitjacketed silos – at his disposal.
This is where Artificial Intelligence Marketing comes into the picture. It is the calibrated use of customer data - from online and offline sources - and computational concepts such as Machine Learning to predict customers’ digital actions or inactions (on web or mobile app platforms), enabling businesses to intelligently target the right customers with the right content across the right channel, and at just the right time.
Here are 4 ways in which AI Marketing can be leveraged within the marketing automation ecosystem to craft and deliver highly differentiated customer experiences at scale:
If the customer is king, content is your anointed messenger to influence decision-making. AI allows marketers to adopt a data-driven approach with the objective of making predictive sense of their digital customers’ diverse behaviours across channels and devices. By analysing historical browsing and transactional patterns, marketers can identify relevant customer segments.
These segments can be then be targeted with laser-focused personalised and contextualised content through appropriate channels of communication, such as emails, browser push notifications, app push notifications, or in-app messages, to nudge them along their journey towards conversion.
AI further allows marketers to easily embed high-sentiment keywords in these messages that have resulted in a conversion event based on key metrics such as open and click rates relevant to each customer, chronicled over a period of time.
Do they react better to vanilla text messages? Or, do they react better to emojis, images, and GIFs?
Higher the degree of personalisation, higher the chances of campaign success.
For instance, in the context of e-commerce, advanced analytics allows marketers to identify a customer segment that reacts favourably to price drop sales. AI can then help target micro-segments with the right campaign content based on previous products viewed, items added to cart, or purchased.
Send Time Optimisation:
Marketers also need to target the right audiences at the right time. AI allows marketers to identify customer segments that respond to a particular campaign at specific times based on historical behaviour. Over a period of time, the system establishes a degree of predictability around the customers’ reactions and this learning input is fed back into campaign intelligence.
Consequently, leveraging the power of AI, marketers can add another dimension of relevance to their multi-channel communication by delivering these campaigns when different customer segments are most likely to respond and act.
Does your customer check his mail between 10AM – 12PM? Or, is he more likely to respond to an app push notification between 4PM – 6PM?
The timelier the customised campaigns, the higher the chances of conversions.
Building on the above example, the price drop campaign would have greater success if delivered to identified customer segments when they are most likely to respond positively in terms of purchase.
Whether it is travel, food delivery, online fashion, or media OTT, today, AI can help marketers make the most relevant product or content suggestions based on their past browsing, purchase, or viewing activity.
This ensures that only those customers that have displayed an inclination towards a particular product category are targeted with relevant or correlated recommendations at just the right time. This opens up multiple cross-sell and upsell opportunities, while helping marketers boost per session length and platform stickiness.
For instance, a media OTT app will recommend a horror film to a user based on his genre consumption history, either through an in-app message (during an active session) or through a triggered email when the film is added to the content library.
A Chatbot is an AI-fuelled software that can interact with humans through a live chat interface. Although at a nascent stage of adoption, the rapid rise of conversational marketing means that over 80% of brands are looking to use Chatbots by 2020.
When programmed to handle standardised queries, these virtual agents extend a high degree of personalisation across web or mobile platforms. The added element of AI enables marketers to customise bucketed responses based on historical interactions with customers, accurately responding to queries, providing suggestions, and redirecting customers through relevant deeplinks.
Additionally, Machine Learning and Natural Language Processing (NLP) algorithms lend a human touch to the conversations, creating a seamless customer experience while driving down manpower costs significantly.
For instance, a Chatbot integrated on a food delivery provider’s platform can be used to render 24-hour live chat customer support based on FAQs pertaining to delivery tracking, order cancellation, refund process, etc. Over a period of time, the Chatbots responses will become more intuitive, refined, and focused, feeding off multiple interactions mapped to individual customers.
The application and benefits of Artificial Intelligence Marketing will continue to expand. With the proliferation of voice assistants and emergence of IoT, brands that carefully evaluate and embrace the power of AI in an attempt to create an integrated, seamless, and personalised customer experience are more likely to reap the rewards of higher ROI, customer engagement, retention, and top-line growth.
To know about Smartech’s Artificial Intelligence Marketing offerings, schedule a demo today!
A data-driven marketing strategist with a hard-nosed penchant for frugal innovation, Pradyut is the Senior Growth Marketer & Product Evangelist at Netcore's Smartech.
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