It may still sound futuristic, but these days companies are utilizing Artificial Intelligence (AI) to improve their everyday marketing: 58% of enterprises use AI to tackle their marketing challenges (Source: Capgemini).
These new technologies are being used especially for automation and personalization when communicating with their consumers. By providing a better (aka less cookie-cutter) consumer journey, companies can create more memorable experiences which not only result in higher sales but also are less costly.
Learning More About Prospects
The digital revolution has provided retailers with more data that they can handle. AI is here to help make use of this goldmine of personal preferences and consumer preferences: clever, self-optimizing systems can help marketers with delivering the right message at the right time.
By building comprehensive profiles across all channels, Marketing teams are empowered to create personalized and relevant content, which automatically is distributed to the target customer.
By collecting and analyzing the available plethora of information on consumer demographics, socio-economic data and even geographical patterns, AI can give sound recommendations to Marketing teams. This will allow further improving digital experiences and drive up engagement rates. A deeper understanding of the needs, behaviors and background of their consumer base will increase engagement rates and sales.
Retaining Existing Customers
The collected metrics and analytics data can be to increase current retention rates, as well. In the long run, upselling and retaining an existing customer is cheaper than seeking new business. For example, whenever a consumer bought something, they should receive personalized communications that suggest not only similar products but also extensions of the initial purchase.
Anticipating your customers’ needs will make them feel more relaxed and comfortable with your brand. In turn, they might share more personal preferences and feedback your marketing efforts. This offers the possibility of extremely personalized experiences that a customer will never want to miss again.
Modern marketers look for ways to integrate AI to understand, anticipate and act on the problems their prospects face when shopping online. Contextual content, marketing automation, cross-channel marketing campaigns and personalization find their realization with new and powerful applications of AI technology.