10 Easy Steps to Get Started with Artificial Intelligence Marketing
Artificial Intelligence is helping businesses in many ways. Marketing is one of the key areas this technology is revolutionizing. Whether you are a marketer, entrepreneur or business owner, understanding how Artificial Intelligence can help achieve your marketing goals is vital to stay ahead of your competitors.
While there’s more and more materials on artificial intelligence, it’s often difficult to answer one of the first questions that comes into mind: how do you get started with AI? In this article, we’re addressing this question.
The integration of AI in marketing is fast becoming a standard for many brands such as agencies and online retailers. A recent research by eMarketer outlines that 70 percent of business leaders are looking forward to AI marketing to have a huge impact on the success of their business in the future. AI brings data-driven insights to the table and goes a long way in saving time for marketers and decision makers at multiple levels of organizations.
Those who are not yet using AI in their marketing strategies need to start embracing it. At least, for their own sake and survival.
A study by McKinsey & Company shows that 69 percent of AI early adopters have seen moderate to significant value after implementing the technology in their marketing campaigns.
However, the same study found that several businesses are struggling with the implementation of AI strategies because they don’t know how to use it.
The study highlighted that using AI in marketing campaigns is only half the story. The other half is based on the creation of a solid strategy and implementing and maintaining the correct AI solution.
AI is a fast-moving field and requires marketers to be always up-to-date with the changes in order to leverage them.
Choosing the right capabilities for your teams is no easy task. We have prepared a few easy steps to get you started. The 10 steps below work well even if you are a tech-savvy marketer, a marketing hobbyist, or jack of all trades tasked with finding the right AI marketing strategy for your business.
1. Understand artificial intelligence and how it can help you
It is very difficult, if not near impossible, to implement a successful AI marketing strategy if you do not know what AI marketing is.
Artificial intelligence marketing is the use of customer data and artificial intelligence concepts to predict your customer’s next move and improve their journey. AI marketing is everywhere, especially when you browse websites.
The three major pieces of AI marketing are:
- Artificial intelligence: computer systems or machines that perform tasks that usually require human expertise and intelligence.
- Machine learning: refers to systems that analyze data to formulate trends. They improve AI systems by giving them the ability to learn.
- Data science — the study of the interpretation of data.
These three technologies normally work hand-in-hand and give marketers the power to leverage vast amounts of data to improve customer experience.
2. Check your competition
You are not alone in this world. Unlike school, in the business world there’s nothing wrong with “copying” good practices. So do your research and find out what your competitors are doing. Use the information to bring your business to speed with the latest trends and technologies.
Head over to their blogs and social media profiles to see if they have implemented any AI strategies in their marketing campaigns.
In hindsight, this gives you an idea of what works and what does not. You can be spared from making their mistakes and launch campaigns that successfully work for you.
Here are a few examples in which AI is leveraged in marketing:
Chatbots
Chatbots help companies and businesses to respond to their customers as soon as they initiate a communication. Some of your customers may need help immediately and chatbots are there to provide that help on the fly.
AI-based advertising
This type of advertising uses data points from each user to display custom offers, tailored to their specific interests.
Personalized email
Algorithms can study how users interact with your website. Then use the data to send out customized newsletters and emails that best fit the requirements of each and every one of your users, potentially increasing conversion rates.
Churn prediction
Use machine learning algorithms to determine if disengaged customers are planning to jump ship to your competitors.
Image recognition
Image recognition software helps you identify people from platforms such as Facebook, Amazon, Pinterest, Instagram, and more.
3. Set and define your goals
The results you get from any campaign are determined by your set goals. Think beyond the hype and determine where you want your marketing strategy to get you. Identify the areas of your business that need data analysis or AI insights.
Use this information to visualize the end result you want to see. This should help you narrow down what you want artificial intelligence to do for you.
An example? Let say you want to improve the performance of your digital ads. You need to research and find AI solutions that help your business to identify creatives that perform above average and use them to maximize results.
If your aim is to know more about your customers, research AI solutions that analyze data and provide behavioral insights are more suitable.
4. Know your solution’s data
Have you ever heard of tradesmen who blame their tools when they fail to do the job? This happens partly because they don’t know how to use their tools. The same goes for the AI solutions you plan to use in your marketing campaign. You need to know how to make the best out of them.
Before implementing any solution, make sure you fully understand how it works. From the platform’s blog posts, FAQ section, and descriptions, any information resources is valuable. True AI companies should publish documentation detailing how to use their solutions. Also, some companies will take a step further providing courses or seminars.
You should see the solution’s reviews on the internet to have a clear picture of what you are going to be using. It goes without saying that you want to stick to something that the majority of users believe in.
5. Research case studies
In most cases, companies developing new solutions publish case studies to show potential users how the business’ clients benefit from using the new solutions. A case study should look at the challenges faced by the company and how the product helped them overcome the challenge.
Go to the company’s websites and dive into their case studies. Pay attention to the following details:
- Similar challenges — check if the customer has similar vertices to yours. The more it is aligned to yours, the more it will likely work for you too.
- Goals — ask yourself if the customers were using the AI product to achieve goals similar to yours. If that’s the case, then it could be the one for you. The more the goals and motives of the customer align to yours, the higher the chances that the same product will work wonders for you.
- Success rate — determine the customers’ success rate in using the product and ask yourself if it is the same result you would like to achieve.
- Customer quotes — check if there are any customer quotes in the case studies. Check what they said about the solution.
6. Does AI work for your business problem?
The world tends to move in the direction of buzzwords and hype. Take the time to think if you really need an AI solution for your business or if you have been forced to think that you need it because everyone around you is hopping on the bandwagon.
Establish clear goals of what you hope to achieve in the end. Do your research on competitors and solutions and you can slowly get an idea of whether you need to integrate AI or not.
If your business is not ready for it, that’s ok. There is no harm in admitting the truth. Maybe the time will come when you need to integrate AI in your marketing strategies. It doesn’t mean that you have wasted your time doing the research.
That is the purpose of the research in the first place. To study the feasibility of using AI in your marketing campaign. The results and the wait will come in handy when the right AI solution comes your way in the future.
7. Do you have your AI ethics statement?
AI ethics is a hot topic and major news publishers are writing about it. Companies need to make sure that they use AI ethically.
When you are at your implementation stage, you need to write down how artificial intelligence will make your company better and more transparent.
You should publish your ethics statement to your customers so that they know what you intend to do with the data you collect. This builds trust and gives your business more credibility.
8. Know the risks and opportunities
Implementing AI in your marketing campaigns comes with both risks and opportunities. Knowing and preparing for them could help to minimize the damage and maximize its impact on your business.
Risks:
- Expensive — your chosen AI solution may be expensive for you. Some AI solutions offer cost-saving insights. In the long-run, you will see that the solutions paid for themselves. Shop around as much as possible.
- Learning curve — your employees may not be well versed in using your AI solutions. They need time to learn the ropes. You should accept that your employees will spend time familiarizing with the new solution.
- Employment threat— not everyone likes AI. If not explained properly, your employees might believe that it will steal their jobs.
Opportunities:
Know your customers — AI helps you to have a better understanding of your customers. The better you know your customers, the better you can customize your ads and the more you will likely reap good rewards for your effort.
- Optimize budgets — implementing AI in marketing could go a long way in saving money by optimizing ads.
- Save time — The majority of AI tasks are automated and this could help you and your time valuable time.
9. Find pilot partners
Since most solutions aren’t cheap, it’s just natural to test them before allocating a big budget on them. Instead of paying the full cost upfront, opt for a solution that allows you to test-drive before deciding to buy it. The majority of solutions allow you to test them before buying them.
During the testing period, measure your metrics and success rate. See if your AI solution is producing the results you require. It may be interesting to note that some solutions might bring you unexpected results that may be as important as your original goals.
Use the testing period to see how friendly the solution is. You don’t need to end up buying an AI solution with a steep learning curve. Get a simple-to-use but effective AI solution.
10. Integrate AI in your marketing
The AI revolution is in full swing and there is no going back. The new technology is not perfect from the start. It needs to be refined. And it will only get better with time.
Whether you are going to implement your AI solution at this moment or in the future, it is important that you start preparing for its use in your marketing endeavors.
When you have implemented your AI solutions, think of the following:
- Revisit your goals to see if you have met or surpassed your target.
- In case you didn’t meet your target, find out why.
- Check your frequency for using the AI solution and if there were any missed opportunities.
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