Artificial intelligence (AI) is a buzzword that has been around for decades, but it’s only recently that the technology has become affordable and accessible to businesses. AI in marketing uses automated technologies to enhance customer experience and satisfaction through data collection, analysis, promotional tactics, and streamlined marketing. So what does this mean for your business moving forwards? Luckily, here at TargetMarket, we’ve got the scoop for you regarding things you need to know about AI in marketing.
Enhancing Personalization Across Channels
Getting your needs met is a basic human function— so how does that roll over into the marketing landscape? Personalization is a key trend in marketing, and AI in marketing can help to deliver personalized experiences. Through personalization, a company can help to build trust within the targeted audience. It can even assist in positioning the brand or service in the marketplace. AI can discover customer behaviors and preferences and tailor future communications with those potential or current consumers.
Streamlining Tedious Processes
Let’s be honest, repetitive tasks can sometimes make your head spin. However, as a marketing professional, many repetitive tasks, such as sending emails and scheduling social media posts, are always in the cards. With AI, these tasks can be automated, freeing up time for marketers to focus on more strategic activities. In terms of other tedious processes, AI can help to test different strategic initiatives and creative platforms.
Analyzing Consumer Behaviors
AI can be used to analyze large amounts of data and identify patterns and insights that would be difficult to uncover manually. This includes data on customer behavior, advertising performance, and campaign results.
SEO Keyword Research
AI in marketing can automatically generate lists of relevant keywords based on your target topic or niche. These tools use natural language processing to identify patterns and trends in the way people search for information online. Additionally, artificial intelligence can analyze how keywords are performing in real-time and identify opportunities to optimize your campaigns.
Market research is the intersection between consumer behavior and economic trends. Together, they can help to inform and improve your business ideas. Some factors that can help get a good sense of your market include demand, market size, location, and pricing. AI can be a powerful tool for market research due to its ability to identify trends and patterns that may go unnoticed if not for quick and accurate data analysis.
Data-Driven Decision Making
Decision-making in the workplace can feel laborious. Making the best decision possible often requires a lot of time and energy— not to mention a sense of accountability once the decision has been made. The Harvard Business Review breaks down the decision-making model into four parts:
- Big data, using machines like AI
- Summarized data
- Human judgment
- Business decisions
The big data that eventually informs a business decision is made from transactions, clicks, likes, impressions, and other key performance indicators that would be nearly impossible to collect just through human processing.
The Cons Of AI In Marketing
The pros of AI in marketing are plenty, yet there are still shortcomings of these intelligence machines. As machines, they often lack the creativity and personalization that one could get from a human relationship. This means they lack essential human emotions such as empathy and concern. Additionally, they lack the imagination and human creativity that has made some of the world’s most successful campaigns.
With its ability to customize the consumer’s experience and deliver growth potential, AI in marketing is here to stay. Do you have questions about your target audience, data collection, or any other aspect of your marketing efforts? Our team at TargetMarket is here to act as an extension of your business with strategies that deliver measurable results. Get in touch today to discuss how we can help you grow your business through our comprehensive marketing solutions.