Beatrice McGraw — February 21, 2020 Artificial Intelligence Marketing (AIM) provides superior solutions to bridge the gap between analytics and execution. It is the process of going through massive piles of data to originate positive results. As per the courtesy of Forbes, retailers invested around 5.9 billion US dollars on AIM. North America, Europe, and Asia-Pacific are mainly using this type of digital marketing and advertising.
Likewise, remote health monitoring, wearable AR, IoT kitchen appliances, and brain-sensing gadgets lie under the game-changing innovations. Prominent technologies are playing their role in the futuristic era. What about the impact of technology-specific marketing and advertising?
What Is Artificial Intelligence Marketing?
Artificial Intelligence Marketing is the process of leveraging the latest technology for the betterment of customers. It is an effective way through which advertisers can upsurge the return on investments (ROI) of their ads campaigns. This method utilizes customer data, machine learning, and other relatable computations for gathering considerable results.
AIM further assists marketers to generate appropriate content for the target audience. For this reason, understanding the importance and proper method for AI marketing is essential.
The Importance of Artificial Intelligence Marketing
Artificial Intelligence influences digital marketing and advertising at a high level. According to researches on Statista, the global software market for this technology is most likely to reach 89.85 billion US dollars by 2025. Furthermore, a universal survey in June 2018 concluded that 41% of AI companies are in the United States of America.
Artificial Intelligence Marketing allows advertisers to crunch massive bundles of data analytics through social media and emails speedily. As a result, marketers can experience a boost in return of investment (ROI) and campaign performance. All in all, Artificial Intelligence is known as one of the most effective digital marketing strategies worldwide.
Digital marketers can make the most of AIM by using it appropriately. Therefore, understanding every element of AI marketing is essential.
Artificial Intelligence Marketing – How To Use It?
Digital marketers can take the best advantage of AIM under several methods.
Sales Forecasting
AIM is applicable for combining records about past transactions. It can retrieve data through emails, phone calls, and meetings too. This attribute of Artificial Intelligence Marketing can assist in predicting the outcome of the most likely sales of current and future campaigns.
Customer Indulgent
AI marketing can help in analyzing customer expectations. The data generated through AIM is essential for understanding when a customer most probably needs a product. Digital marketers can also create profiles of their target audience.
This approach will help segregate interested individuals and opt-out rest.
Surge Pricing
Artificial Intelligence Marketing can also help digital marketers in applying this method of personalized pricing. In this strategy, retailers determine the price of products as per the demand of the audience. A considerable example of this includes the cost of ride transfer apps that offer the best discount codes when there is a rise in rates elsewhere.
Also, advertisers utilize AIM to increase their rates as soon as their product goes on-demand.
Voice Recognition
Siri, Alexa, and Google Assistant are the prominent chatbots based on the speech recognition technology. Artificial Intelligence can efficiently recognize spoken words and turn them into text. As a result, the duration of command execution boosts up.
Marketers can use this digital marketing and advertising strategy in their campaigns. The statistical calculation for 2020 by Oberlo estimates the average of US voice search users to reach 127.11 million by 2021. Moreover, the voice shopping market is most likely to hit the roof with 40 billion US dollars by 2022.
Content Creation
Artificial Intelligence Marketing and content writing can pair up for better results. As per the fact, AI-written content is not eloquent and acutely informative. However, it is applicable for generating simple blogs regarding stock updates, sports news, and financial reports.
Therefore, digital marketers can use AIM for creating personalized web content through content intelligence.
Automated Ad Targeting
Marketers can automate the process of ad-buying/selling with the data generated from cookies of apps and websites people visited. Artificial Intelligence is beneficial here as it effectively targets particular audiences that can relate to the advertiser’s criteria.
For example, AIM for Facebook Ads consumes data analytics for targeting and retargeting customer ads as per their profiles.
Essential Elements of Artificial Intelligence Marketing
AI marketing strengthens with a few core elements. These include Big Data, Robust Solutions, and Machine Learning.
Big Data
The concept of Big Data is clear and forthright. It revolves around the ability of digital marketers to crunch massive data with negligible manual work. Advertisers can utilize this approach for connecting to a target audience at the exact time through numerous channels.
Robust Solutions
AI marketing solutions interpret problems precisely like humans. Henceforth, it swiftly identifies large data sets and construes relevant insights. AI solutions are also able to deduce emotions during a conversation. A considerable example of this is Gmail service, as it intelligently generates emails by the smart compose feature of Google AI.
Machine Learning
Artificial Intelligence plays a substantial role in machine learning, as it enables a machine to improve performance over previous experiences. Digital marketers can use ML to predict daily insights and customer responses. As a result, advertisers easily understand the root cause of most reactions.
Artificial Intelligence Marketing Is the Future Approach
AIM is the king of digital marketing and advertising. This technology-driven method is most likely to rule every platform in the industry. Business owners are globally adopting artificial Intelligence. According to Forbes, 77% of companies in the USA and the UK are using AI-related technologies.
Among these, 31% experienced dynamic business value growth. Also, top business functions like sales and marketing gained a topnotch value of 35% and 32%, respectively. Machine Learning and Chatbots ranked as the leading AI technologies with a 34% value for each.
Digital marketers who have not yet adopted Artificial Intelligence Marketing must rethink and work harder to stand out in the futuristic era.
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