Role of Artificial Intelligence (AI) in Marketing

Digital Marketing
Role of Artificial Intelligence (AI) in Marketing

Role of Artificial Intelligence (AI) in Marketing

WHAT IS ARTIFICIAL INTELLIGENCE?

 
Artificial intelligence in marketing is important. Artificial intelligence or popularly known as AI is all about the machines that are capable of doing the tasks and pieces of work which usually require human intelligence. It makes it possible for the machines to learn, adapt, adjust and then perform human-like jobs. Artificial intelligence (AI) has taken the world by storm in the last decade. It’s everywhere around us today, from personal assistants on our phones to self-driving cars. Some innovative brands have been relentlessly trying to expand the bandwidth of machines which are fueled by artificial intelligence. Artificial intelligence is our first step towards a fully automated world. AI opens the world of opportunities for humans to explore. It’s a humongous world with no bounds when it comes to possibilities. Every single thing we see today can be enhanced to our benefit by adding artificial intelligence to it. Let’s understand the role of artificial intelligence in marketing.

At the earliest one of the greatest mathematicians of all time Alan Turing laid the foundation of artificial intelligence by putting forward a simple and straightforward question “Can machines think?”.  

All the research around AI were conducted with given below basics in mind:

  • Thinking like humans 
  • Thinking with rational approach
  • Acting like humans
  • Acting with rational approach

It took years of iteration to finally reach the point where we are today. Countless efforts were put in to make artificial intelligence thrive. Everyone of us once in our lifetime have made use of artificial intelligence in some way or the other. From filtering spam mails to conversational bots on websites, artificial intelligence is all around us. 

FOUR TYPES OF ARTIFICIAL INTELLIGENCE:

1: Reactive Machines – It’s the most basic type of artificial intelligence. It’s programmed to give the same exact output when initiated with the same type of input.

2: Limited Memory – It’s the most widely used AI type . It combines pre-programmed information and historically gathered information to give the most suitable outcome. 

 

3: Theory of mind – This is the most human-like type of AI. With this type of AI machines acquire human-like decision making capabilities. It learns and understands human’s behavior and emotional patterns and reacts accordingly.

4: Self-aware – It’s the most advanced type of artificial intelligence. This type of artificial intelligence is aware of its own emotion as well as emotions of people around them.This type of AI is still under development.

ARTIFICIAL INTELLIGENCE MARKETING:

It’s not an overstatement to say that artificial intelligence is leading the way in all the industries it has been adopted in. Every single industry of the world is slowly and gradually recognising its true potential. Hence, the time is not far when every single brand of the world starts using AI to grow and prosper. It’s pretty obvious till now that the companies and the brands which make use of artificial intelligence are way ahead of their real time competitions in innumerable ways. There’s nothing wrong in saying that artificial intelligence is revolutionizing the whole market system in the most extraordinary manner. It’s not only changing how things work but also changing the way people think of a product and approach it. 

WHAT IS AI MARKETING?

Artificial intelligence marketing is evolving at a pretty crazy pace. AI can shoot up the return on investment (ROI) of marketing. Artificial intelligence marketing is simply putting intelligence technologies and systems to work to collect information and data, consumer’s insights, predict customer’s behavior and perform automated actions that impact marketing outcome. AI greatly helps in understanding customer’s behavioral patterns which in turn helps the marketers to save time, effort and money and impact the customers in the most efficient way possible. A simple example of artificial intelligence marketing is smart compose in Google Docs which suggests what to type next by the help of your previous typing history. 

 

ROLE OF ARTIFICIAL INTELLIGENCE (AI) IN MARKETING:

 

Artificial intelligence plays a huge and vital role in digital marketing . AI helps businesses understand the needs and expectations of the customers in less amount of time and at a faster rate. 

Let Us Know About The Broad Role of Artificial Intelligence in Marketing:

 

1. Better and Efficient Decisions 

 

Artificial intelligence helps in reading the customer data in an effective and fast manner without any errors or glitches. This enables the marketers to impact the customers deeply and in the best way. Data collected and forwarded by artificial intelligence is accurate, real time and impactful. Artificial intelligence can also direct marketer’s next moves. All these benefits combined together help in making better and more efficient decisions which in turn helps in conducting a successful marketing campaign.

2. Increased Cost Effectiveness and ROI

 

Artificial intelligence can reach and read more people with less effort when compared to human resources. The time saved through AI adds up to the cost effectiveness. AI eliminates any room for error and hence reduces efforts. All the pros of artificial intelligence put together make it very cost effective when compared to other marketing mediums. 

The productively collected data helps marketers to perfectly tailor a marketing strategy to impact a particular set of audience. This not only saves up the effort and time which could have been otherwise wasted in the process of iteration. But it also adds to the beauty of personalization. The no-wastage approach helps in boosting the ROI of marketing to a great extent. 

3. Putting Automation to Work

 

Automation is one of the most essential outcomes of artificial intelligence. Automation can turn data into a desired action positively impacting the marketing ecosystem. AI helps a brand to greatly impact and implement marketing actions in a short period of time. 

4. Better Personalization

 

It greatly helps to develop a deeper connection with customers. It gives the customers a sense of value and makes them believe that a brand cares for them. Artificial intelligence is the secret magic which helps brands in personalization of marketing strategy.

Artificial intelligence can make a marketing personalized and specifically tailored for the customers in so many ways. Thousands of brands and companies from all over the world have put artificial intelligence to work to personalize their posts, blogs, emails, websites and content all over. It’s the secret formula that makes the customers more and more connected to the brand by viewing the content. It has been crafted especially keeping them in mind. Product recommendation on online shopping platforms is one such great use of artificial intelligence which makes the whole customer experience far more personalized than ever thought of. 

Role of Artificial Intelligence (AI) in Marketing

Specific Role of AI in Marketing: 

 

1. Chatbots

 

Chatbots are the prime example of automation through artificial intelligence. You might have noticed a pop up dialogue box which answers your questions immediately while visiting some sites online. These are called Chatbots. As the name suggests, these are the bots which are used to have chats with the customers. And make their site experience very personal as well as smooth at the same time. These chatbots help in answering repetitive questions on a website or an app. Besides answering the repetitive questions of the customers they also help in redirecting them to marketing channels. Thus chatbots help greatly in lifting up the marketing of a brand.  Chatbots reduce the efforts of humans thus making the whole ecosystem more effective, advanced and speedy. 

2. Email Marketing

 

Email marketing is the epitome of personalized marketing. It’s called the game-changer of the marketing world. Email marketing is all about collecting data strategically, planning accordingly and specifically and then reaching out directly to make an impact. Artificial intelligence plays a vital role in the whole process of email marketing. It helps in collecting the data from the audience or the consumers. This is a very necessary step for segmentation of the audience. This takes place in a very efficient and cost effective way by the AI.  Then AI aids in suggesting the marketing scheme perfectly tailored for the customers and with the help of human force a great marketing strategy is created which when put out impacts the audience in a magical manner.

3. Predicting the Future

 

There is no bigger superpower in a business than knowing the blueprint of the next step and it’s predictable response and artificial intelligence somewhat gives this superpower to a brand. Artificial intelligence through collected data from the customers such as which purchases are they making, in what quantity etc. helps in predicting and suggesting the next move. 

4. Personalized Customer Experience

 

As discussed earlier, personalization is one very vital outcome of artificial intelligence. It greatly helps in making customer-brand bonds strong and long lasting. It makes the customers more connected to a brand at every individual level through making their experience a memorable one. Shopping sites are prime examples of how well artificial intelligence works when it comes to personalization. Customers suggest only those products which are relevant to them and which they can potentially buy. This makes a customer’s purchasing experience smooth like butter. Personalization through AI is great for customer engagement. 

5. Getting Insights

 

Artificial intelligence is majorly useful for the brands in order to collect and perfectly order data. Data provides customer insights to a brand. Brands and businesses use these customer insights to know their target audience better. It in turn helps them to finely craft their decisions to produce results. This task would have been very time taking. And hefty if it would have been done by humans or any other means. And there would have been a chance of errors too. These insights help brands to avoid throwing out irrelevant information to their audience and also saves them from performing trial and error. 

6. Scheduling

 

Time scheduling is one of the efficient uses of artificial intelligence. Time scheduling can be beneficial anywhere. It is a type of automation useful for making one’s task easier and highly hassle-free. Scheduling can be of great use in marketing. A brand can make use of scheduling to put out their content at desired time without worrying about anything. This helps in making the whole ecosystem well ordered and well managed.  

7. Marketing Decisions

 

It’s a type of personalized marketing aided by the superb technology of artificial intelligence. Data collected with the help of artificial intelligence is useful for the brands to make customer nucleus marketing decisions. From deciding a product or service’s price to it’s outsourcing.

8. Voice and Image Recognition

 

Voice and image recognition are also a product of artificial intelligence. It comes in our smartphones, laptops and now it also comes in some cars and many more electronic devices. This feature is revolutionary when it comes to personalization. It’s not only useful for commanding or questioning it’s also useful in marketing extensively. Image recognition is a feature which is useful for shopping sites and other platforms to make the user experience better than ever. These features are like blessings for the marketing world. Voice and image recognition is useful by the brands to provide a better experience to its customers. It keeps on getting better every time a customer uses a site or an app. Hence this betterment is brought about by a great marketing channel which works upon data personalization. 

CONCLUSION:

Artificial intelligence is a game changing technology. However it opens up a window of new opportunities and possibilities for the world. AI makes difficult and hefty tasks easy to hack. Hence it helps people to save on cost of work, time of action and efforts too. Artificial intelligence has a scope for work in every single industry. Every industry from all over the world will slowly but eventually adopt AI for an effective outcome. 

Artificial intelligence produces great results when it comes to marketing hence marking it one of the vital components of marketing. AI’s role is widespread when it comes to marketing. It helps in making better and sound target audience centric marketing decisions while at the same time it greatly helps in personalisation of a marketing  strategy which helps in making a greater impact. It also helps in bringing automation to the game of marketing. 

All in all Artificial Intelligence (AI) is a blessing which is making the whole ecosystem evolve without leaps and bounds. However AI is yet to be fully explored. Hence there are many more folds which are open to our benefits. It’s a huge world in itself which will bring us more and more good. Hence for more information, you can contact Digital Ipsum Pvt. Ltd.