Artificial Intelligence or AI has been the most talked-about technology in the past few years, and we have also seen the adoption of AI marketing technologies in various businesses across many sectors.
In digital marketing, the arrival of AI technologies that are now more affordable and widely available than ever has also allowed the AI marketing trends take shape. In 2020, it is expected that 60% of companies are going to use AI in their marketing, and so it will be the norm, no longer a luxury.
How, then, will these AI technologies affect marketing in 2020? Here are the top six ways.
1. Real-Time Interactions
AI is becoming a norm in many workplaces and even in our daily lives, with some of us have interacted daily with Alexa, Google Assistant, or Siri. In the future, we can most certainly expect more forms of interactions with various forms of AI, even where we don’t expect them at the moment.
The most common form of interaction with AI in today’s businesses is through chatbots, which not only can listen to the customers and answer relevant questions but also can collect (and in some cases, analyze) valuable customer data. Simply put, businesses and especially eCommerce businesses that are not integrating conversational AI features in the process may quickly become obsolete and lose their audience.
We can also expect more forms to be utilized in providing better real-time interactions, for example by integrating AR/VR technologies with conversational AI. For example, AI can interact with customers so they can experience a product through AR. By interacting with the product virtually, we can effectively drive higher conversion rates.
Also, with how brands are now required to listen more to their customers, AI simply can provide 24/7 real-time live chat customer service while at the same time, cutting the required costs to invest in human customer supports.
2. AI for Predictive Forecasting
Predictive analytics and forecasting are certainly not the newest in AI marketing trends. However, with AI-powered tools continue to advance with machine learning and deep learning technologies, we now have more ways beyond simple regression models to analyze data, process the available data, and produce actionable insights to predict future possibilities.
There are many questions AI can help answer in today’s predictive analytics implementations: how will customers behave in three years? What products are future customers more likely to purchase? Who should be your next target audience? And so on.
We can also use AI to collect data about past sales, where AI can study the data from purchase history, email conversations, phone calls, meeting interactions, and more. It can then extrapolate the data to the customer’s behavior and the outcome of the sales process and predict the outcome of current and future expected sales.
AI can also help in “forecasting” the performance of your ongoing and future marketing campaigns for your brand and so can assist you in optimizing future marketing campaigns. AI can generate reports using data only, and so will eliminate the risk of human errors.
3. Automatic Lead Scoring
Nurturing leads until they are ready for purchase can be an expensive and time-consuming process. So, making sure we are putting our efforts into the most qualified lead is very important to ensure cost-efficiency and maximum ROI.
This is where an AI-powered campaign with targeted timing can help us with an automated scoring process and lead qualification. One of the most important factors of ensuring the success of your campaigns is to deliver the right message to the right people at the right time. Machine learning and deep learning technologies in AI can help to achieve this with data-driven personalization and automation.
Also, the two-way interactions performed by the AI can then generate even more data, and with machine learning, the conversational AI can then learn to improve itself to qualify leads with more efficiency. So, the more audience it interacts with, the better the AI can qualify and score leads. This is why AI software will simply become the norm in lead qualification and scoring.
4.Automation To Target Precise Timing
Machine learning and deep learning have allowed AI to be even better in collecting, analyzing, and extrapolating a massive amount of big data into hyper-targeted segments. With this, AI can use the data to better predict and forecast times of peak engagement and the most effective timing in general to target individual users.
Again, delivering the right content at the right time is very important in maximizing click-through rates and conversion rates. AI can remove all the ineffective guesswork and simply allow more precision in delivering our content and campaigns.
5. Leverage AI To Maximize Customer Retention
Maximizing customer retention can provide much better profitability than acquiring new customers.
Here, we can leverage AI technologies to better understand existing customers and so we can maximize loyalty and retention. For example, AI can analyze the existing customer’s behavior data and—again—deliver a more personalized campaign while considering the best possible timing to engage an individual customer.
Newer AIs can also integrate with your existing CRM software and merge data from many different sources so they can more effectively engage past customers and execute better initiatives in bringing these customers more revenue.
6. Dynamic and Personalized Advertising
AI can gather a huge amount of customer data in real-time that can be translated into a better and more effective advertising placement. We can provide a much higher level of personalization with our advertising campaigns.
Delivering generalized content is, simply put, no longer effective in today’s saturated digital marketing. Google Ads and Facebook Ads, for example, now collect data from various data points with their machine learning algorithms and can analyze and extrapolate the data in real-time.
And, AI technologies are not only collecting data from your previous behaviors and conversations but now AI is able to predict the products a customer is going to look for in the future and what content the audience might be interested in by using various demographic and behavioral data.
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The key to success in any B2B marketing strategy is understanding your target audience, and AI can simply provide a better, faster, and effective way to interact with thousands and even millions of people in real-time. As a result, not only AI can provide faster customer service, it can also gather customer data in a much faster and more accurate way.
These six AI marketing trends are all focused on that benefit, and how AI has allowed us to analyze and extrapolate a massive amount of data from various sources at a faster rate. Also, obviously, AI can provide better ways to automate our tasks and campaigns.
In short, AI allows accurate personalization for each individual prospect so it can maximize conversions.