The Financial Express
By Rikki Agarwal
Virtually every part of life has been influenced by the Artificial Intelligence (AI) revolution, which has also given digital marketers nearly superhuman powers. Although it wasn’t always focused on the customer, marketing is becoming more customer-centric today, thanks to the rise of digital marketing. People frequently use social media, making it feasible to estimate their desires accurately, and AI plays a crucial role in this scenario.
Artificial intelligence has positively impacted how businesses handle consumer communications and marketing operations. With the advent of AI, digital marketing has seen considerable upheaval. It aids businesses in developing effective digital strategies, optimising marketing campaigns, and increasing investment returns. Moreover, it greatly impacts many facets of life through intelligent devices, chatbots, to self-driving cars. To provide a personalised customer experience, these are made to ascertain the preferences and interests of the consumer. A recent retail industry survey discovered an intriguing trend: 80% of corporate executives anticipate implementing AI technology within the next six years.
How does AI help in enhancing consumer experience?
Lately, many brands have embraced AI, with companies like Amazon and Spotify successfully utilising AI systems. For instance, Amazon uses AI to display to customers the products that are pertinent to their searches, purchases, and views. The increased demand for individualised experiences may enhance consumers’ likelihood of making their first purchase or returning back to the brand. Digital marketing now includes AI, which provides several advantages and alternatives. Let’s examine how artificial intelligence can be incorporated into digital marketing.
The main benefit of AI in marketing is that it increases return on investment (ROI), which is frequently one of a company’s most significant expenses. Brands can now discover a lot about consumers’ product preferences and services. The first innovations were made possible by companies like Amazon, which has a recommendation engine, and Google and Facebook, which have platforms for targeted advertising. Each platform has been enhanced with AI today, enabling them to have more influence as they access more information about consumers and their purchasing patterns.
AI in Customer Relationship Management
By enhancing user experience, artificial intelligence can profoundly change the face of digital marketing. AI can assist marketers in better comprehending the needs, routines, and travels of their clients. Brands can utilise AI to continually get fresh or better information that helps them improve their consumer reach and marketing tactics. They can employ analytics to help them improve their marketing strategies and comprehend how to reach consumers efficiently.
Since customer retention is one of the most crucial business focus, customer relationship management is a skill every marketer should be proficient in. By identifying behaviour patterns that can lead to customers switching brand loyalty, AI can lower the risk of customer ‘churn’. Personalised promotions or incentives can automatically target these clients to win back their loyalty. Another marketing tool gaining popularity among AI-enhanced marketers is a chatbot powered by natural language processing. Incoming customer inquiries can be divided into groups, and those who need a response can be customised to lessen dissatisfaction. AI-driven CRM will also enable organisations to estimate sales more correctly across different markets, allowing for a more effective distribution of resources and stock. It can also be used to detect customer records that are likely to include errors or duplicate information to preserve the quality of the data in the CRM system.
Artificial Intelligence: The Future Of Digital Marketing
Marketing strategies have been improvised over time. The digital world has fundamentally altered how we deal with customers, enabling more individualised interactions. Artificial intelligence has been incorporated into digital marketing to assist marketers in determining client wants and meeting those needs with the appropriate products. AI developments provide a promising future for digital marketing.
A new trend in marketing is emerging that unifies everything on one platform, thanks to artificial intelligence in digital marketing. AI has opened up the possibility of hyper-personalisation through customised product recommendations, intelligent content recommendations, and chatbots for customer support. This has dramatically changed brand and customer interactions. The predictions made by the AI systems enable marketers to work more productively and efficiently, helping brands boost sales and increase customer retention.
The author is the co-founder and chief operating officer at Blink Digital
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Transformation of digital marketing due to AI – The Financial Express
The Financial Express