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ability of a machine to think and reason like a human, so it can make cognitive decisions for a particular task.
Almost every facet of business that we are familiar with and engage with is integrating AI. Social media sites like Instagram are the most obvious example; they customize information and adverts depending on users' previous interactions. This is much more effective than manual efforts, as AI brings efficiency that matches the speed with which customers interact with products and services today.
A Few Marketing Success Stories with AI:
AI is not just limited to Instagram; it is also being utilized in our day-to-day grocery shopping. Walmart has developed a mobile application where consumers can speak or text their items to put it into virtual shopping carts and schedule deliveries all through their voice or a simple text. The application provides them products with the best value, catering to their needs.
AI is also being used for diagnosing fatal diseases like breast cancer. By training AI to read mammograms, it can compare between normal and abnormal ones. In a study based in Sweden, 80,000 women’s mammograms were analyzed: half were looked at by AI before a final review by a radiologist, and the other half were looked at by two radiologists. The study found that the AI-reviewed group had 20% more cancers detected than the radiologist-only group.
Bank of America has employed a virtual assistant, Erica, which tracks user’s spending habits and recurring transactions. This is used to send alerts in cases of excessive expenditure and of their spending habits. It also understands recurring transactions and sends alerts when there is an upcoming expenditure of the same nature.
These features in each industry root from the same idea as Instagram, which is customer engagement and satisfaction. AI is the way forward for businesses to unlock multiple ways to interact with their users and build a loyal user base effectively.
Tools and Technologies You Can Use for Your Business:
Chatbots
Companies can now use AI as a strong tool in a variety of ways. Chatbots, such as Amazon Lex, are e-commerce site tools that speed up customer service by answering questions quickly and efficiently. They are available around-the-clock. Chatbots offer prompt solutions for basic client inquiries such as refunds and restocking. Customers will find it convenient if their questions are answered quickly, and this will increase their loyalty.
Robotic Marketer
AI can also be utilized to curate marketing plans for companies. AI-powered technologies are used by services like Robotic Marketer to create marketing strategies that are especially tailored for the company. They create plans to effectively engage with the business's client segments by using big data and machine learning technologies. These tactics, which are all carefully chosen, cover everything from direct marketing to social media engagement.
How Can You Best Implement AI into Your Business?
The following techniques are available for incorporating AI into current marketing strategies:
- Using AI services, such as chatbots, to respond to consumer inquiries and streamline customer interactions.
- Developing analytics and visualizations with AI to focus on specific consumer segments and preferences.
- Using AI to determine and accommodate clients' preferred channels of interaction.
- Using AI tools to automate routine marketing content creation, such as social network postings, app notifications, email marketing, direct messaging of offers, and more (e.g., Emplifi).
In any of these ways, AI can be integrated into a business’s existing marketing strategy. It is a tool that makes traditional marketing methods more efficient. Without the room for error that comes with manual efforts, AI can maximize the returns from a business’s marketing initiatives.
However, these benefits come with potential pitfalls. Though AI's advent has revolutionized data analytics and understanding of customer behavior, it can also become invasive and possibly harm a customer’s digital identity if boundaries are not set. Social media applications like Facebook have faced controversies and lawsuits due to the invasion of customer privacy. Hence, it is crucial to establish a policy and boundaries within which AI should operate in one’s business before integrating it into your business model.
Where Do We Go from Here?
The way customers interact with businesses is changing rapidly. AI is being used in shopping to automate checkouts with self-checkouts. There is also the development of technology where all the items a customer selects through the shop are recorded, and at the checkout, it gives you the total amount without having to scan any item. AI is also touted to provide sound investment advice to users, gauging the volatility and returns on a particular stock, bond, or ETF and providing a diagnostic report of the investment to the user. The inclusion of AI chatbots in WhatsApp, Instagram, and Snapchat allows users to simplify their interactions with these platforms. What may have taken a few clicks and active navigation can now be done instantaneously. Users can now use these chatbots to navigate the whole application, building user engagement and leveraging the data obtained from users to tailor content and target ads.
AI is a powerful tool that, if used responsibly, can unlock a vast number of opportunities for one’s business and maximize its marketing efficiency. Don’t leave this tool hanging for your business. Do you need more help with your marketing strategies? Contact Marketing Eye’s Fractional CMO services or our outsourced marketing solutions outsourced marketing solutions for further assistance with your business’s marketing strategy.
Ready to take a step forward and level up your strategies? Contact Marketing Eye Contact Marketing Eye today to prompt your business into success.
