AI in Marketing

Most people think of AI as a tool to automate important secondary tasks, such as scheduling, but it can have a much greater impact on businesses. Artificial intelligence is used to maximize the advantage of customer personalization in marketing. It’s the process of leveraging customer data using AI applications like machine learning and creating more personalized marketing and analytic systems.

Source: MagePlaza

A new Deloitte survey that includes 1,100 U.S. executives from organizations considered to be early AI adopters shows, 82 % received a good return on their investment for their AI projects.

The applications of AI in marketing are wide bound. A few such examples are

1. Customer segmentation

We anticipate the customer's next move based on the data available in the customer segmentation. The various data available from social media, emails and other platforms can be segregated easily. It’s easy to understand what the customer wants at each specific time from the large real-time data.

An example of this includes Facebook ads where customers provide social media data when they agree on the end-user agreement based on which customer profiles are made using data analytics of AI.

2. Future forecasts

AI can be used to forecast sales based on the data of current and future campaigns or ads.

Advantages of using artificial intelligence in marketing

Improved ROI (Return on investment)
It boosts the return on investment by analyzing data based on customer needs that in turn leads to an increase in returns.

Identification of trends
AI can help predict insights or responses from the customers and can be much help in product modification or improved product manufacturing.

Robust solutions
AI can identify and interpret concepts and themes across large data sets incredibly fast and accurate. It can interpret from any platform like emails, human emotions/ natural language, social media, customer feedback, etc.

There is no doubt that AI is going to penetrate various aspects of marketing, including social media, marketing automation, and even the creation of new products and services.

References:

1. Deloitte Survey: Artificial Intelligence Delivers, but Missteps Can Yield 'Bridges to Nowhere' | Markets Insider (no date) Business Insider. Business Insider. Available at: https://markets.businessinsider.com/news/stocks/deloitte-survey-artificial-intelligence-delivers-but-missteps-can-yield-bridges-to-nowhere-1027638384 (Accessed: February 18, 2020).
2. AI Marketing: What, Why and How to use Artificial Intelligence Marketing (no date) Mageplaza. Available at: https://www.mageplaza.com/blog/ai-marketing-what-why-how.html (Accessed: February 18, 2020).
3. Tjepkema, L., Enochs, M., Donlan, K., Barlow, H. and Stewart, B. (2019) What Is Artificial Intelligence Marketing & Why Is It So Powerful?, Emarsys. Available at: https://emarsys.com/learn/blog/artificial-intelligence-marketing-solutions/ (Accessed: February 18, 2020).