Artificial intelligence (AI) has made significant inroads in the marketing sector. Today, the use of AI and Machine Learning (ML) is making market research and marketing campaigns faster. cheaper, and more targeted, cutting down timelines from weeks and months to hours and days.
Since, every business seeks to attract more customers, expand its market share, raise brand awareness, generate more leads, and enhance customer value, marketing is an indispensable part of running a successful business.
However, although both traditional and digital marketing have their benefits, they also come with a set of limitations. That's where artificial intelligence marketing comes in to play.
Leveraging AI and ML in marketing can significantly expand your marketing campaign’s effectiveness and ensure timely, successful delivery of marketing results.
So, how exactly does AI work in the marketing sector?
Role of Artificial Intelligence in Marketing
Artificial intelligence in marketing refers to applying AI technology to make automated marketing decisions based on data analysis, natural language processing, and various other computerized observations of audience or economic trends that may impact marketing efforts.
According to Accenture, AI is a constellation of many different technologies working together, including deep learning, intelligent automation, and any number of AI-related technologies to enable machines to sense, comprehend, act, and learn with human-like levels of intelligence.
AI is especially beneficial in marketing where objectives and goals need to be achieved within a particular time frame. Custom deep learning, for example, helps predict customer behavior and build a successful full-funnel marketing strategy. It also enables companies to reach out to their present and potential customers in a more personalized and timely way.
A deep learning algorithm can deploy a targeted approach to decide the optimum time advertisements are shown to consumers, taking into account time, placement, and type. And best of all, these types of deep learning algorithms and AI systems become more efficient with time, grasping complex data patterns and carrying out speedy and efficiency tasks at scale.
AI solutions work based on behavior-based feedback, meaning they are very effective and accurate when it comes to targeting your key performance indicators or KPIs. Keep in mind that machines are not like humans who are naturally prone to making mistakes and human error.
With AI systems, there is also the benefit of speed since they are able to understand customers’ behaviors deeply, calculate all possible scenarios, and adapt as necessary in real-time.
Specific Benefits of AI in Marketing
Some specific benefits of applying AI in your marketing campaigns include:
1. Improved Customer Relationships
One of the key advantages of using artificial intelligence and deep learning in your marketing is improved customer relationships.
AI can help you send more personalized messages to customers at the opportune time and stages in the customer lifecycle.
It can also help marketing teams identify particular at-risk or hesitant customers and prompt measures to re-establish engagement or a relationship with them.
2. Faster Decision-Making and Automation
Another benefit of leveraging AI in your marketing efforts is that AI carries out data analysis incredibly fast, which allows for swift decision-making. For example, with AI tools, marketers are able to make better media choices sooner rather than later by leveraging real-time analytics.
AI also uses machine learning to reach objective, data-based conclusions based on each customers' context and situation. This gives marketing teams invaluable insights to boost conversions, as well as enough time to implement strategic solutions and market responses.
Besides that, with AI marketing, you can automate marketing strategies even in the middle of a campaign. Marketing automation can be the secret to your business’s breakthrough success.
3. Accurate Measurement of Return on Investment (ROI)
Finally, by applying AI technology in your marketing efforts, you are able to more accurately measure the ROI on your marketing investment without leaving out any costs or expenses.
That enables you to assess each particular campaign's success or failure, so you can make the right business decisions to keep growing.
Moreover, because AI can help you understand the audience better, you can create more targeted marketing campaigns, resulting in increased profitability in the long run.
As you can now tell, using artificial intelligence marketing is one of the best ways of ensuring success for your marketing campaign and business goals.
From improved customer relationships to enhanced automation and greater accuracy in measurement of ROI, the benefits of using AI solutions shouldn’t be ignored.