Artificial Intelligence (AI) is one of the breakthrough technologies that have revolutionized nearly every industry. Recent studies show that AI can boost the productivity of any business by over 40%. As a result, AI is becoming integrated with most marketing tools that companies rely on to reach their target customers. But how effective is AI when it comes to marketing?
This article will share 6 ways AI can significantly boost your marketing efforts.
Provides Actionable Data
Tools that use AI have the ability to generate actionable data about your target customers. With this data, marketers can make fasters decisions from an informed perspective. For instance, AI technologies are very vital when it comes to lead scoring.
When leads are scored based on their likelihood to convert, your marketing and sales teams find it easier to decide on which leads to prioritize. This saves them time that could have been wasted on leads that are less likely to become actual sales.
Personalization and Recommendation
Personalization is one of the tested strategies that businesses use to boost the ROI of their marketing campaigns. With personalization, every target customer receives a customized marketing message based on how they have been interacting with the business’s website or mobile application.
This level of personalization is possible because of machine learning – one of the core aspects of AI. Today, advanced websites and apps have algorithms that learn about the users’ behavior as they interact with the site or app. This data is later sent to the marketing automation apps that use it to personalize the marketing messages sent to each target customer.
For instance, if someone visits your site and searches for a particular product but doesn’t go beyond the description page. This data can be used to create a personalized email ad with details of how to complete the purchase or recommend to such customers similar products that they could be interested in. Again, this increases the likelihood of getting more conversions than sending generalized messages.
This product pricing strategy uses artificial intelligence to automatically vary the price of products depending on the customer’s willingness to purchase and other marketing conditions such as competitors’ prices. This pricing is popular with airlines, hotels, car rental companies, utilities, and e-commerce sites.
For example, an e-commerce site may choose to offer discounts based on changes in demand, the inventory level of the products, and the pricing of the same effect on other popular marketplaces such as Amazon. Furthermore, adjusting the price in real-time is possible because artificial intelligence algorithms constantly analyze all the above factors to decide the right price.
The good news is that any e-commerce website can use dynamic pricing without having to integrate any custom tools into its site. There are several WordPress plugins that you can install on your site to incorporate the dynamic pricing functionality.
AI Enhances Ad Optimization.
The way your target audience responds to your ad should give you an idea of what changes to make to improve its conversation rate. For example, if most of the people who click your ad don’t go beyond the landing page, they could see something about your landing page that makes it unintuitive for them to proceed.
Most ad platforms like Google and Facebook now use machine learning to offer business details of how customers respond to their ads and the recommended changes to improve the ad’s performance. Ad optimization is also crucial in deciding who to show an ad to. For instance, if a specific category of people responds to an ad positively, these platforms will now show that ad to more of such people.
Chatbots in Customer Service
If your site gets thousands of visitors every day, it will require your customer service and marketing teams to spend hours every day responding to the various questions that some of the potential customers ask. However, you will also notice that most of the questions that these customers ask are similar.
AI-powered chatbots have solved this problem by responding to all the commonly asked questions, which gives your customer service team more time to attend to the more complex queries. In addition, these chatbots continue to learn about customer support conversations to add new common questions that customers ask.
Most customers tend to move on to other sites if their questions aren’t answered within a couple of minutes. Chatbots improve e-commerce sites’ response time, which is crucial to the customers’ experience with the site.
Creating content is one of the tasks that will take up a lot of time for your marketing team. We now have AI-powered tools that marketers can take advantage of to generate content for various marketing tasks, including email marketing, creating landing pages, social media ads, etc. Some popular tools used to develop content automatically include Writesonic, Grammarly Business, Jasper, Peppertype.ai, Rytr, etc.
These tools come with templates that marketers can choose from based on the type of content they want to create. Don’t expect these tools to develop near-perfect content like that by an actual human. However, marketers can use them to avoid making each piece of content from scratch, so they can auto-generate the content and then edit it in whatever way.
There are a lot of ways AI has improved the effectiveness of marketing. Marketers today have a lot of AI-powered tools at their disposal that they can take advantage of to enhance their marketing efforts. You may have to spend extra dollars to get these AI-powered tools, but this additional investment will be worth it based on the possible returns.