Artificial intelligence (AI) is changing the business landscape at a dizzying pace. AI leverages technology to perform problem-solving tasks that include sophisticated computations such as recognizing human emotions for marketing and customer service purposes. As recently as 2018, Harvard Business Review made the prediction that AI was likely to make a significant impact on marketing and manufacturing.
What Is AI?
Business Insider encourages leaders of commerce to embrace AI as a way to gain a competitive edge via the creation and utilization of new paradigms. There is no time to waste. Whether we realize it or not, we are already benefiting from AI advancements in our life on a regular basis. One of the most discussed AI advancements most people have heard about is self-driving cars.
Essentially, AI makes it possible for machines to learn and adapt from experiences like human beings do. This translates into more efficiency. These computers are programmed to process large amounts of data to recognize patterns that can be used to enhance business operations. Specifically, one of the most exciting applications for this new technology is AI-generated social media efforts strategically positioned to customize and improve the customer experience.
How AI is Shaking Up Digital Marketing and Sales
Granted, human beings can still do all of the tasks being turned over to AI. The difference is that AI makes it possible to process mountains of important data much more quickly and on a larger scale. In this unique moment in time where big data shapes critical business decisions, AI learns, analyzes, and understands precisely how to expeditiously apply insights gained via AI to create the digital experience that customers expect. Personalization is key for earning the consumer’s trust and business.
AI marketing insights arm marketing managers with the feedback needed to adapt quickly when campaigns don’t produce the expected results. This benefit saves companies a tremendous amount of money and precious time.
By automating time-consuming processes like content generation, email marketing, web design, video marketing and PPC ads, AI streamlines labor-intensive marketing efforts to ultimately improve ROI. It is easy to understand how AI takes a lot of the guesswork out of the marketing process based on its ability to predict consumer behavior with a precision that was impossible before this technology harnessed the power of big data.
Artificial intelligence has closed the information gap making it easier to process and manage the information provided by multiple consumer touchpoints. The challenge has always been to meet the customer where they are at different points along their journey. Automated attendants, speech technology, websites, and virtual assistants generate leads that require an accurate response that is personalized, intelligent and timely.
AI can collect and analyze data quickly to scale a personalized response in ways that weren’t possible in the recent past. Consumers expect a lot more than they ever did prior to using intuitive technology that is capable of interacting with humans. In today’s demanding market, consumers demand a fast and intelligent response to questions before they make a purchase.
Crafting a relevant marketing message that aligns perfectly with a consumer’s specific concerns is key for success. AI offers the solution for meeting the sophisticated consumer’s high expectations. Brand loyalty is not easily earned as companies compete for the trust they need to capture market share and shine.
AI and ROI Stats
The true test of any technology lies in the ROI stats. Artificial intelligence has gained the attention of the corporate community as a prerequisite for competing in the near future.
Entrepreneur reports AI stats shown below that are sure to impress.
- Increased close rates by 59%
- Revenue increases of 54%
- 52% increase in conversion rates
All marketing efforts include a variety of unique tasks that are all important for achieving corporate objectives. Statista reports that 79% of respondents surveyed about AI globally stated that their marketing and sales departments enjoyed a 5% boost in revenue when they used AI for pricing and sales predictions.
The AI Challenge for Business
It’s a new and constantly changing world in sales and marketing. As exciting as new AI innovations are, they also represent a substantial human resource challenge for most companies. Practically speaking, it is infeasible to upgrade a corporate marketing team in all aspects of AI strategies while also equipping them to tackle this new changing landscape without possessing specialized skills such as copywriting, video production, geo-targeting, and other related skills learned over time.
Imagine owning a race car that can travel 225 mph with no driver available who can drive that amazing piece of equipment to your desired destination. That’s how a lot of company executives feel as they listen to the marketing buzzwords of the day and consider AI as a new tool that they need to excel.
While corporate leaders may know they need to use AI in order to compete, they aren’t sure where to start. That’s when it is time to call in the professionals.
First, any company has to know exactly who their customer is and where that customer goes to get their information. Then, it’s time to decide on a message. It sounds simple, but marketing is no longer that simple. Customers expect more. They want to get information on the platform they use when they want it, 24/7.
Granted, any established business probably knows basic information about who their customer is, but that data changes continually based on new competitors, the latest marketing technology, and other unforeseeable factors.
Digital marketing is fueled by data. The only way to remain relevant is to embrace that marketing reality and use AI to process as much data as possible, as quickly as is feasible.
Hire the Expert Marketing Team You Need to Compete
Specialization is the name of the game. Marketing has become a high-tech affair that demands specialty skills, a team dedicated to staying on top of changes in the marketing landscape and equipment for:
When you’re ready to embrace the new face of marketing and compete using AI technology, call Bake More Pies!