Today’s consumers are more active than ever. The digitalization of our lives means that once passive consumers can now order whatever they want and when they want. Vendor competition is fiercer than ever with ever-changing trends emerging on social media platforms and ecommerce growing higher than ever due to the pandemic.
If you want to thrive in the new e-commerce world, it is important to stay ahead of consumer trends. Marketers must be creative and ready to adapt to consumer trends before they even happen.
Artificial intelligence is part of the rapid growth in technology. Artificial intelligence-powered marketing could become the key to consumer-based success. This smart technology can be used to predict consumer behavior and trends, which could help you get ahead of your competition and improve your relationship with your sales leads.
Already 37% of corporations have integrated AI into their business strategies, and the marketing sector is following suit. With 80% of emerging technologies now with a foundation in AI, there is no reason to not jump on this trend.
Read on to learn why AI could become the future of marketing, from predictive analytics to campaign planning tools.
What is AI Marketing?
AI marketing is defined as “leveraging AI to combine the insights from various datasets, algorithms, and models to predict future behavior.”
Artificial intelligence can transform your marketing strategy, whether it is used to target, plan, or personalize.
Artificial intelligence can transform every aspect of your marketing campaign. From consumer insight and behavior tracking to checkout and personalization for email, as you can see, it can improve the user experience.
Virtual assistance is essential if you want your business to stay ahead of the rest, especially with more businesses moving online after the pandemic.
Although it might seem more science fiction than reality, experts believe that AI marketing will become the future of e-commerce. By 2022, global spending on artificial Intelligence Software is expected to exceed $340 Billion.
We are not surprised that business leaders who have a keen interest in predictive analytics and customer-based initiatives want to get involved with this new digital trend.
Predictive Analytic Models in More Detail
If you are interested in the details of predictive AI, we will be going into more detail about its functions.
Machine Learning allows AI-powered analytic tools to analyze historical campaign data and combine that with user behavior trends and transactional data to create a predictive model for future campaign planning and personalization.
Three AI-generated models currently exist that can transform big data into predictive outcomes.
The Recommendations Model
This model is about analyzing historical data to suggest future sales opportunities.
This form of predictive analytics, which uses past purchase history to provide insights into consumer buying behavior, can be used by marketers to help them predict their customers’ purchase behavior. This data can be used to suggest ways that the marketing team can improve the user experience throughout the entire funnel, from the initial sales lead through to the checkout.
The Cluster Model
Cluster models analyze audience segmentation and can forecast their behavior based on past purchase history, brand engagement, and other data.
This model allows you to gain a deeper understanding of customer patterns, behavior, and trends. It is smart enough to predict the next move of your customer demographic before they jump.
The Propensity Model
This model analyzes customer behavior and predicts consumer actions.
This model can predict anything, from disengagement to a conversion act on an offering. It’s a great tool if you want to improve your UX design, customer experience, or return on investment.
Use Artificial Intelligence in Your Marketing Campaign to Get the Best Results
It is not surprising that artificial intelligence can give you a competitive edge. But let’s get into the reasons why it is so important for a campaign.
Aberdeen Strategy and Research recently found that predictive analytics is a key tool for business leaders to identify customer needs and increase their organic revenue.
Continue reading to discover the many benefits this marketing phenomenon offers.
Customer Insights
If you want to achieve success, you must understand customer behavior when designing your marketing campaigns.
Analytic platforms like Google Analytics or Finteza are essential to help you make predictions about the behavior that will affect your marketing strategy. You can segment your audience based on this demographic information by incorporating artificial intelligence in the first planning stage.
Your campaign’s success will be improved by this as you can modify the customer experience based on your predictive results. This increases your campaign ROI and your audience niche’s conversion rates.
Prioritizing Sales Leads
Smart marketers understand that a large audience is important, but prioritizing sales leads will give you more success.
Marketers can use predictive analytics to prioritize and qualify leads, identifying those customers who are most likely to convert into sales.
This AI-generated aid allows business leaders to pay more attention to these customers, and reduce the amount of retargeting spent on unrelated leads.
Get Personalization
A successful marketing campaign must include personalization. Personalization can improve customer loyalty, customer retention, trust, and overall customer satisfaction.
Artificial intelligence could be the key to success for today’s consumer who wants to be heard. AI can create a variety of experiences for customers, from personalizing email marketing to creating more conversational experiences.
This is essential if you want your business to be ahead of the rest with such a large online population post-pandemic.
AI Marketing Examples That Will Make You Want More
Here are some examples of industry leaders that will give you a taste of what artificial intelligence can do for marketing.
Starbucks: A Personal Recommendation
Starbucks is the number one example of AI personalization. Starbucks has been able to enhance its personalisation capabilities by using customer data and predictive analytics strategies since creating a mobile app that was successful in 2016.
This clever AI-based technology stores customer purchases and converts them into personalized marketing messages with predictive software. It targets all customers’ tastes and preferences.
Personalization has not only increased sales conversions but also made customer service a priority, increasing brand loyalty across a wide digital audience.
Chase: AI-Powered Copywriting
It is difficult to create creative copy that appeals to a broad audience. It is important to get to know your audience and write with them in mind. You can improve your SEO by improving your copywriting skills. This will help you to enhance your customer experience.
How can AI improve your copywriting?
Chase Bank addressed this question with its latest AI-generated campaign. It focused on humanizing and improving the customer experience.
Chase has teamed up with Persado, an artificial intelligence provider. Chase is currently personalizing copy for each customer to humanize their targeting.
Although it may be the largest business to implement machine learning in its copywriting strategy strategies, it is not the last.
