Can Your Marketing Strategy Keep Up with the AI Revolution?
What is AI Marketing?
AI marketing is a fast-growing niche market that will only continue to see massive growth. Not only is it growing more prevalent, but it is also evolving quickly. Experts in the field are crafting their hypotheses of where this technology will lead us, and unlike the AI naysayers, they see opportunity for advancement instead of fear.
What will be the next step for AI?
What developments are leaders noticing and predicting this technology will undergo that will differentiate it from its present state?
A little less than a year ago, world leaders convened for a global event to discuss the future of AI. What was one of the most salient topics? Augmenting humans. While it may seem far-fetched, human augmentation is already happening whether we realize it or not.
It only takes opening Google or a social media app to realize that AI is delivering us content it almost certainly knows we want, so we don’t have to look for it ourselves.
Almost every aspect of AI marketing — predictive targeting, programmatic advertising, data insights — is geared toward determining what businesses need to know to reach the right customer, and what customers need to know to make the best purchase decisions.
Will AI take our jobs?
Whether you employ AI in your business or are simply familiar with the concept, you’re probably aware that people are worried about this. While AI certainly will make some jobs unnecessary, it is also forecasted to create more jobs than it eliminates.
This presents opportunities and also challenges.
AI will change the job landscape as it keeps progressing, meaning people whose jobs have been replaced will need to be trained in other ways to be able to contribute during this new era. Our workforce will need to become more skilled and educated to complement the acceleration of AI.
While things will need to shift, there’s no need to go into a panic about our jobs. There are several ways in which AI fails to match human potential. It may be able to segment audiences, personalize messages, and craft logos, but efficiency isn’t everything. What AI doesn’t have is empathy.
What makes humans unique?
Humans have social, emotional, creative, and cognitive skills that AI lacks. This is good for humans because it means we have some capabilities that technology is powerless to replicate.
If you apply this to your own business, you will find that AI frees up your time for decisions better made by humans, who can find ways to empathize with your target buyers and audiences in the ways that matter.
Now that we know AI’s weaknesses, what are its strengths?
Well, we know the answer… sort of. As of now, AI can automate many tasks such as data analysis, bidding, and recommendations.
But in marketing and beyond, it is just getting started.
The evolution of artificial intelligence can be likened to the need for flight attendants. Before planes existed, nobody knew that they would be needed. Before the Internet, nobody knew how much easier their work could get. AI has stepped in and said, you think the Internet made life easy? Just look at me.
To consider a moderately new technology that we never knew we needed, take chatbots for instance. If you use the Internet, you have witnessed the rise of chatbots firsthand. Chatbots went from being almost completely useless to predicting responses from customers and asking the right questions to solve your problem (or collecting sufficient information to pass on to a human employee).
If chatbots are doing so well, where are they heading from here?
Well, tech experts are anticipating that the next step for chatbots is a full-fledged conversation with humans, where they can engage in a dialogue that offers even more value to potential customers. Chatbots like Jane.ai are marching along the continuum of machine learning and natural language processing to arrive at a horizon that meets humans in their need for solved problems and answered questions. At some point, AI and humans will meet in a new place altogether.
See Related: Facebook Acquires Kustomer to Improve the Customer Experience
Where will humans and AI meet?
The destination where both will meet is the autonomous enterprise. This will be an organization where decisions typically made solely by humans will be made by collaborating with machine learning. Before computers, we didn’t know there was another way that would change the way we work forever.
AI isn’t siloed to the category of sci-fi. It is a technology that is evolving every day to help humans make better decisions and save time. Instead of humans relying on their experiences as a guide, AI can analyze data and look for patterns with a level of accuracy that humans would be hard-pressed to match.
Just as social media is revolutionizing communication and connection, the autonomous enterprise will strongly improve the quality and speed at which everyday decisions are made.
These are exciting times, but we know you’re thinking about the all-important question that will help your business in the here and now:
How can AI marketing drive your ROI?
Now that customers expect experiences personalized to them, AI is more of a staple than a choice. You must optimize for personalization, meaningful metrics, and conversions.
First, personalization. As we’ve discussed, giving your AI the right data is essential for seeing results. This allows for the technology to be able to identify trends that you can implement into the customer journey.
Next, meaningful metrics. Every marketing manager seeks to increase ROI, but many can’t determine what “smart metrics” are. The key is to differentiate meaningful metrics from vanity metrics. The latter would include anything in the arena of social media engagement, and might also look something like page views or keyword rankings. Typically, conversion rates come out on top as the most important metric to measure. It should be the basis for your campaigns and inform which tactics and channels are best used.
On top of conversion rates, finding good leads and measuring customer lifetime value are also important for your business.Through deep listening and insights, AI can help with relationship formation and CLV measurement.
Finally, tools. Now that we’ve determined that smart data and meaningful metrics are key for conversions and CLV, how do you get your customers to take action in the ways that you need? First, you have to make sure that you are using the best tools. By tools, of course, we mean artificial intelligence software.
Let’s run through some common features and uses of AI software. The purpose of AI platforms is to accomplish tasks better than humans. It does this by identifying preferences and patterns and providing insights into how to optimize your marketing campaigns.
A good AI should have access to all data, learn from experience and learn in real-time, and identify what works. It must be analytical, contextual, and scalable. The hardest challenge for AI is to determine context.
Trapica Insights, Trapica Suggest, and Bilbi.ai are AI marketing tools that are successfully rising to the challenge to help your business unlock its potential.
Once you determine your artificial intelligence platform, you’ll discover what insights you reap in exchange for your data. Are these insights that you can apply to improve your customer journey? If you’ve picked the right platform, the answer should be a resounding “yes.”
We hope you choose to implement this AI marketing expertise to discover a smoother journey for both you, and those you are trying to reach and convert. It may just transform your marketing campaigns, your ROMI, and your business.
Bonus! Marketing Tools:
2. Bilbi AI: Daily Marketing Campaign Insights
