Artificial Intelligence in Marketing
The world is changing faster than we know it and Artificial Intelligence is about to take Marketing by storm. Previously, data entry and mining for key insights into business performance required manually going about sorting the information and using good judgement to base decisions. Nowadays, the game is changing with automation and using machine learning and algorithms to not only make better decisions, but in some cases remove the need for a human to analyse data whatsoever.
The power of automation tools and software have helped sales teams and marketing times dominate, and working together achieve incredible results.
However, the power of automation has only been the technological beginning. The real power is coming from Artificial Intelligence or AI, being able to do repetitive work functions and process huge amounts of data in seconds. Whereas in the days gone this would take unspeakable amounts of time – so what do we do with this new ever growing power?
The big players in tech are already cashing in on the potential of AI in their marketing efforts, but this may be confusing to the masses.
Let’s dig into how to understand and potentially use the power of AI in Marketing.
Tell me how to understand Artificial Intelligence?
The term intelligence and it being artificial is what is meant by replacing the human thinking and learning ability with a computer. The speeds at which the computer can perform such a task is accelerated to almost unimaginable levels, and it’s only just beginning.
The power to problem solve and make decisions in real time at incredible speed is what will allow Marketers to focus on more strategic and higher level functions. The leading edge AI is self-learning whereby the parameters set for a task give it the ability to learn rapidly. Such as trying to play a video game, it pushes the parameters of the possible options at such speed that it may take minutes or hours to learn what would take a human days, months or even years!
The power of AI in marketing is allowing for Marketers to improve the sales process and increase lead generation, improve metrics like click-thru rates, conversion rates and analyzing the best opportunities throughout your sales funnel. Basically, you have the power to reduce advertising budgets, improve conversion rates, or overall increase the return on ad spend.
How Marketers leverage Artificial Intelligence for Campaigns
The first and most essential approach is to leverage AI in saving time – what tasks take the most time or consideration; cognitive efforts. Marketing teams are spending time doing competitor research, reviewing Google or Facebook ad campaigns and using AI feedback loops can help Marketers to iterate faster.
There are tools to help review your content, such as keywords and article relevancy. In the competitive world of digital marketing, any competitive edge is considered and implemented for the best strategy.
There are companies building platforms that specialize in these areas of importance – from sourcing the most relevant or effective images to the readability and insightful utility of your content. A very important item of focus is Ad Spend and how much money you’re putting into acquiring customers’ attention or driving sales demands the best data. How can you compare dozens, 100s, or even 1000s of campaigns or their variations – use Artificial Intelligence tools.
What can AI do for your revenue?
The world of possibilities is growing rapidly within the technology era, helping marketing teams reduce time on manual data entry and using their skills to build better strategies. The growing trend of AI platforms is helping teams achieve incredible results, instead of adding contacts manually or assessing keywords for hours.
Being able to target potential customers in real time instead of using databases with unbelievable accuracy is what it means to be leading edge. When some of these tools are used together in strategic automation, entire roles can be automated. The power to decrease irrelevant data or tasks, and increase more accurate sales forecasting by reducing turnover rates and expanding the lifetime value of customers – this is the power AI offers.
Imagine having a super computer that can help you achieve what used or recently was considered impossible. I encourage every marketing firm and company to investigate the powerful opportunity that is in front of them and what it can do for your business. The opportunity of Artificial Intelligence in marketing will likely expand our capacity to imagine what is possible!
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