Artificial intelligence or AI technology has been around for decades but only recently has it been widely used to improve the effectiveness of marketing. Intelligent technologies are quickly adopted by plenty of businesses and their supporting marketing departments to facilitate operational productivity while enhancing customer experience. As per Fortune business insights, the AI industry market size is expected to be worth $266.92 billion by 2027.
Marketers and advertisers may achieve a more detailed and thorough knowledge of the target market through AI platforms. The data points obtained from this method could then be used to achieve conversions and at the same time to reduce the workload of marketing teams. Artificial intelligence refers to a discipline that studies how people and brands interact with one another and how data can be analyzed to support those interactions.
AI marketing uses machine learning software to enable automated decision-making on the basis of data processing, data analysis and additional consumer insights or economic patterns that can influence marketing performance. In marketing campaigns, AI is also deployed where speed is crucial. In order to understand how to engage best with our buyers, AI tools use information about customers' profiles to provide them with personalized communications at the correct time even without any involvement of the marketing team.
To most marketing practitioners, AI is being used to maximize marketing teams or to conduct certain strategic tasks which demand less human nuance. It can perform tasks such as;
To use a specific example of how a company can use marketing tools, let's say that you sell shoes. You may have employees that bring in random shoppers to determine what they might be interested in. If you use a machine that identifies keywords related to shoe types, sizes, and price, you can create a list of potential customers that you can then send coupons and deals to. By having a virtual assistant walk them through the process of purchasing the shoes, you can have them pay by credit card or mailing the coupon directly to the shopper.
AI marketing is still a relatively new concept that many marketers are finding useful. However, many companies are quickly discovering that this type of software can streamline their business model and provide them with a competitive advantage. Since most people shop online, it only makes sense for marketers to take advantage of this medium to increase sales. Virtual assistants offer a fast and easy way to analyze customer data and find out what their next move could be. For companies that aren't using AI marketing tools, now is definitely the time to do so.