With effective use of Chatbots in customer service, businesses can establish that one of them is talking to consumers.
In the digital age, consumers interact with the Internet in almost every aspect of their journey to use products and services. Different companies often try to harness the ever-growing data to impress consumers through digital devices, websites, email, social media and paid media. While programming or querying consumer and product data helps identify relevant groups for outreach, a system must adapt to the changing environment and must have the capacity to learn without intervention. manual. If you are thinking about using AI in your marketing initiatives. Then you have come to the right place.
These changing environments certainly vary by industry, from finance and retail to services based in the B2B and B2C space. With the pandemic, industries must realize a different paradigm when it comes to digital innovation and gain insight into customers. As everyday consumers and investors embrace digital transformation quickly, there is an urgent need for marketers to capture and convert leads while retaining consumers. In-store marketing ads, face-to-face selling of investment portfolios, or the incentive to open a branch accreditation card are almost a thing of the past and while going digital it is absolutely essential to know whose ‘address, when and why.
According to Salesforce’s research in State of Marketing, marketers in India have mentioned that innovation is their top priority and customer journey analysis is one of the main challenges.
Today, artificial intelligence automates many business processes, although according to the State Of Marketing Technology report by Walker Sands, 56% of marketers believe their businesses cannot keep up with emerging marketing technologies. Multichannel communications are growing in popularity, but email remains the most important player in the game, and that is why it is essential to eliminate repetitive and manual tasks in the engagement process and become one. with a data-driven approach. AI has certainly grown in popularity in recent years when it comes to self-driving cars, entertainment, manufacturing, and ready to be incorporated into your marketing strategies. Here are the top 7 things AI can help shape targeted marketing with better segmentation and automation.
- Optimization of dispatch times:
Email campaigns are usually sent explosively. However, how many of us have wondered whether to see an email and not open it the moment it arrived? Because different people open email messages at different times, knowing the optimal timeframe to send the message when the customer is more likely to view it is critical. With predictive optimization, not only emails but also in-app messaging, social media and push can deliver higher open and click rates.
- Target audience segmentation
According to Marketing Trends, $ 37 billion is wasted each year failing to engage the right audience with an ad. Depending on what your business offers, there is always a larger audience and a niche audience group. In Broader, a group of customers may be interested in receiving a weekly newsletter, but a niche group may still focus on innovative wearable technology or an athlete in running shoes or sports gear. And these traits certainly change with time, priorities, and other factors. AI can detect such patterns as they emerge from one and pass through the other, where predictive models with machine learning can effectively segment the moving audience in real time.
With data-driven and propensity-driven models, AI can eliminate human biases such as Only kids and teens are interested in video games.
Therefore, it enables better decisions to be made faster in addition to basic segmentation of demographic, geographic and behavioral data. These new persona segments are now groups with a niche target that could offer a high conversion rate through engagement.
- Choice of channel
With the ever-increasing use of the internet and multiple social platforms, it is often difficult for marketers to choose the right channel to establish a conversation with consumers and stay ahead of their competition. Algorithms can better predict such scenarios in real time as opposed to traditional methods of data analysis which might require significant implementation time. AI embedded in machine learning can optimize email, mobile, SMS, and social channels very effectively by building profile relationship with customers as well as increasing lead generation. retention and engagement.
- Message fatigue
Too many marketing messages can certainly divert a potential customer to your company’s unsubscribe page or be marked as spam. This damages the reputation of the brand and in turn reduces loyalty. With AI predictive analytics, prioritization allows campaigns to better associate the right message with the customer rather than sending out an occasional generic newsletter. AI helps control this information overload.
- Personalization with AI:
Creating a personalized bond by establishing a relationship between the brand and the consumer goes a long way in building loyalty. According to Salesforce, 94% of marketers in India believe personalization improves overall marketing efforts. A great example would be how Amazon shows relevant products that you might be interested in in the best possible way. In addition to using a custom pre-header, subject lines, content tailored to individual needs, algorithms use information from past interactions, interests, and recommend the next best deal or product. For example, in the case of a financial investment client who spends a lot of time researching individual stocks, it may also be worth looking into an index fund that offers diversity. Companies often use personalization in their emails, but AI is delivering it at scale and creating a full omnichannel experience for users.
- Conversational Marketing:
With effective use of Chatbots in customer service, businesses can establish that one of them is talking to consumers. Chatbots can switch from one channel to another as well as cross topics. Similar to the live customer representative, AI can deliver human-like responses by sensing customer emotions, solving customer problem, and gathering key information at the same time at scale.
- Information and analysis:
With an insane amount of data collection every day, not all data is structured and clean; Manually analyzing data and creating reports isn’t the smartest way. Instead, faster and smarter data projection technology can give a 360-degree view of consumer data and the effectiveness of products or services. Consumer psychography, lifestyle, values such as metrics bring out crucial information. Natural language processing, text-based keyword mining, sentiment analysis, emotional analysis help companies research customer ideas and brand themes. Speech recognition, video and image analysis indicate what is important to the consumer and how much time is spent researching products.
Enabling AI can take marketing automation to the next level in your marketing strategies, which helps you build trust over time with customers and customer acquisition.
According to MIT’s 2020 Tech Review, this shows what percentage of different industries aspire to take advantage of AI in their businesses.
Orchestrating campaigns with an integrated assortment of data sets, models and machine learning services can implement intelligent processes to achieve greater ROI on digital marketing investments and improve the customer journey through all channels and points of contact.
Priyal Borole is an expert in marketing automation. He currently works as a Leader – Digital Marketing and Analytics for T. Rowe Price, one of the world’s leading investment management firms. Priyal comes from database marketing with a history in the retail banking and insurance industries. He holds an MA from DePaul University of Chicago and an Adobe Certified Expert. He has worked in marketing automation for over a decade and leverages various technology stacks to innovate and create omnichannel communications to build strong relationships between the company and its customers.