5 Ways to Benefit From AI in Marketing
Artificial intelligence has become one of the basic tools in the arsenal of digital marketers. It has revolutionized the e-marketing sector. It is no longer used by large companies only but also small and medium-size enterprises. As a recent study shows, 55% of companies use or are considering using AI in their marketing programs.
AI Marketing allows marketers to collect and analyze massive amounts of data from social networks, emails, and the web in no time. Marketers can use the results of these insights to boost their campaigns’ performance and improve return on investment (ROI). In this article, we’ll go through multiple ways you can benefit from AI in marketing.
Artificial intelligence refers to computer programs (software) that makes computers and other devices think and behave like humans.
Chatbots are computer programs developed to interact with customers over the Internet, answer their questions, provide support, and help them run purchases. Chatbots can be integrated into websites and social media pages.
Chatbots enhance interaction with the brand and help improve customer experience by providing support to them around the clock, and these robots can interact with many customers simultaneously.
Many companies have come to rely on chatbots to provide support to their customers due to their low cost. The beauty of the matter is that in many cases, customers are not aware that they are chatting with a computer program due to how advanced the AI programs have become.
2. Dynamic Pricing
Dynamic pricing (commonly referred to as personalized pricing) is a pricing strategy in which the price is determined according to demand, product inventory, and the customer’s profile. Artificial intelligence programs can analyze your profile by using cookies, visit history, searches, and other digital activities, and accordingly will determine product pricing dynamically to maximize profits.
An example of using dynamic pricing is hotel reservation sites, as prices are dynamically dropping and rising depending on room fill rates, the tourist season, previous reservations, and customer history.
3. Targeted Ads
Using cookie data and browsing history, artificial intelligence can target ads to customers based on criteria such as geographic region, age, gender, and more. You can notice this clearly in Google right now: have you ever noticed that if you were searching for something on Google, and then you went to YouTube, the ads that appear to you in it will often have to do with the things that you were searching for on Google.
Google has used artificial intelligence algorithms to analyze your network activity and search history to target you with ads that match your needs and interests. You can use the same techniques to target people better and more efficiently by using deep learning consulting.
4. Understanding Customers
Artificial intelligence technology can help marketers know what consumers are saying and feeling about their brand in real-time. For example, there are social media monitoring tools that analyze what people in social networks say about your brand.
Artificial intelligence programs can determine whether your trademark is praised, slandered, or neutrally mentioned. Based on this information, marketers can modify and craft their marketing messages to achieve maximum effectiveness. These tools enable you to do multiple things:
- Learn about influencers in your sector.
- Determine how customers feel about the brand or a product.
- Identify phrases and topics most commonly associated with your brand.
- Easily be able to follow up on any mention of your brand.
Content curation is one of the best examples of harnessing artificial intelligence in digital marketing. E-commerce sites, blogs, and many social networks use artificial intelligence to analyze the activities of their visitors on the Internet and provide suggestions and recommendations for products and content that are relevant to them to boost conversion rates and help increase the average time spent on your website.
Interesting related article: “What is Online Marketing?”