Can AI impact consumer buying behavior?
AI a.k.a Artificial Intelligence
The more data AI gathers, the faster it can adapt to fit the needs of an audience.
AI is a powerful marketing solution that has an intelligent way to deliver customized experiences via machine learning. It learns from experience to perform tasks as humans do, then uses machine learning to better mimic and automate them. By generating insights that predict what users are likely to do next and recommend what actions to take, they are leading towards the future, and it’s here to stay.
Artificial intelligence has not only embarked on the future of marketing but has also inoculated the way customers behave. It’s a method that leverages technology to improve the customer journey, which they use to identify patterns and inform many strategies throughout marketing.
Will Consumer’s buying behavior get affected?
Definitely, and only through one process: personalization. One of the most critical components of integrating prospects to consumers, improving ROI, and enhancing lifetime value is personalizing the customer journey. AI generates insights that forecast what users are likely to do next and recommends appropriate actions.
When consumers browse the internet, AI gathers and analyzes information about their online activity based on their demographics and psychometrics. The data obtained by AI reveals a lot of information about the consumer, such as purchasing frequency and brand preferences. Therefore, it assists companies in predicting the purchase habits of their target customers in the simplest way possible.
Let’s take an example: Netflix.
No, I am not asking you to go and watch the new season of Bridgerton.
Netflix gives you recommendations on the shows you have already watched. That’s the power of AI; it makes you want to engage with the brand more. It cornerstone customer’s requirements first to regulate the brand’s services.
Why wouldn’t a customer get influenced to just “watch” Bridgerton Season 2?
Customer relations with AI
Before diving into the relationship, let me state that we, as marketers, can only grow by understanding consumer behavior, wants, and expectations to provide appropriate services. With AI, customers have developed a subconscious connection.
Customers’ purchasing and loyalty will increase, but their expectations will also rise. When customers begin to trust your brand, their commitment grows, and they are more likely to become enthusiastic promoters of your products in their social circle.
AI tools reveal exciting insights about the customers’ sentiments, needs, desires, and expectations. In addition, AI-driven systems offer insights into the future trends in the market, which will reshape customer behavior. Thus, companies can proactively make informed decisions about their businesses based on these insights, eventually leading to more profits.
In a nutshell: Artificial intelligence impact business productivity.
In my opinion, it’s all about the customer’s choice, but the significant impact AI has brought can’t be ignored. Eventually, AI would shape up to the needs of consumers, but for any business to grow and be competitive in the market, they should consider AI-driven solutions.
The vast amount of data makes it difficult to gather evidence and assess how consumers purchase these days. AI makes this simple; a combination with human-created data and information for studying customer behavior results in the actual use of AI.
Since customer satisfaction is the organizations’ prime concern, many companies’ investments in artificial intelligence should grow to know customer behavior because, in the end, the customer is their priority.
Sorry for not having a chatbot here; we can chat about the new season of Bridgerton in the comment section below.
Until next time,
Tanvi
