Personal Experiences with AI
In today’s day and age almost every person actively uses the internet. As a result every single person has had an encounter with marketing AI whether they know it or not. For years now companies like Google and Facebook have been using browsing data to personalize recommendations to the user. If websites that you are browsing use the advertising service Adsense like how Youtube does then that data is automatically sent to Google. I have had examples of when I was on Youtube looking up product reviews of a computer and then over the next several days I would receive advertisements for different computers. I realized that they used the cookies and data from Youtube and several other sites to personalize advertisements. There is evidence to prove that AI marketing can significantly help a business. “The 2017 Real-Time Personalization Survey by Evergage notes that 33% of marketers surveyed use AI to deliver personalized web experiences. When asked about the benefits of AI-powered personalization, 63% of respondents mentioned increased conversion rates and 61% noted improved customer experiences.(Evergage Inc)” From this survey 98% of marketers surveyed believed that personalization strongly advanced customer relations. While 74% of them felt very strongly about it’s impact.
These surveys really showed how effective personalization can be for marketers. Artificial intelligence can be used to increase profits significantly in the rapidly increasing digital age. According to a report done by Google 63% of all shopping journeys begin online. Not all of these shopping journeys are linear and can differ in many ways. Which is why having AI to personalize and have as many interactions and touch points with customers is vital. If your company isn’t there then simply another one will be. Having an AI system to better customer relations is another way business’ are advancing and gaining a competitive advantage. Spotify for example personally I use the service because of how well the service personalizes music for the user. “As of December 2019, Spotify has 217M users that log over 100 billion data points per day. Utilizing user data and proprietary algorithms, Spotify has been able to sort and prioritize the content to create a superior, personalized user experience.(Iglehart)” Every week they curate a personalized playlist for the user of songs that they recommend all from using data of previously listened songs. I believe this feature provides a service to customers that provides them a significant competitive advantage. If companies want to stay ahead of the curve they should embrace change and AI technology in order to better connect with customers and gain marketing leverage over competitors.
