Having a highly effective marketing strategy, as we know, can help companies gain new customers and retain current ones.
But as times continue to change, marketing strategies are now going online and embracing emerging technologies.
Artificial Intelligence (AI) is one such technology that may have been used rarely in the past but plays a significant role today and will continue to do so in the future.
In fact, between 2020 and 2027, the AI market is set to grow at an average growth rate of 33.2%.
What’s more, AI has excellent benefits to offer companies looking to take their marketing strategies and efforts to the next level.
Providing tailored services, recommendations, and improving the quality of the buyer’s journey is vital for the success of any marketing strategy, and AI can help businesses do just that.
Here are a few ways businesses can leverage AI for their marketing strategy:
#1 Find High-Potential Leads
One of the proven ways companies can use AI in their marketing strategy is by identifying the leads that are most likely to convert into customers.
Deep learning, a specific branch of AI, enables marketers to find individuals most likely to lead to conversions. This allows them to target such leads specifically and nurture them with a tailored approach.
Knowing which leads are most likely to become customers will help marketers focus their marketing efforts in a specific direction.
This would also allow marketers to optimize their resources and strategy according to the results that are being targeted.
A more targeted and personalized advertising experience can be a great way to convert such customers more effectively.
#2 Create Highly Targeted Content for Better Engagement
One of the benefits of narrowing down the right audience to target is doing so with the right kind of content.
AI can help marketers utilize smart segmentation to identify their target audience’s interests and behavior.
Equipped with such insights, brands can target their customers through highly tailored content. Brands can also use content across various channels such as emails, websites, and social media to target customers.
With the omnichannel presence of brands becoming imperative, targeted and specific content will differentiate companies.
Dissemination of meaningful content will become less intrusive by the day and even more effective when highly targeted.
Additionally, you can seek the help of SEO experts who can help your content reach the right people at the right time.
#3 Implement Chatbots
Chatbots are everywhere now, aren’t they? Several industries are now opening up to the possibility of integrating chatbots into their strategy so that they can leverage the true potential of AI.
Not to mention, Chatbots have proven to be a highly effective and cost-efficient solution for medium to large businesses.
As Chatbots are projected to become more human as they evolve, the industry will be valued at $1.3 billion by 2024.
Plus, businesses are increasingly preferring chatbots as they can also help them optimize the internal workflow.
As businesses become more proactive in collecting customer insights, chatbots will become smarter and more efficient.
About 80% of businesses already invest in chatbots in 2021, which means that you have not yet done so yet, you are already running late.
#4 Provide Tailored Offers
A deeper understanding of customer preferences or behavior will allow companies to send them offers they can’t refuse.
For instance, tracking customer spending habits and preferences can be quite beneficial for restaurants.
This, in turn, allows them to offer discounts and deals on restaurants that their customers are most likely to cash in on. A truly win-win situation.
Many brands miss out on attracting customers by sending them deals and offers that are not good or relevant to them.
eCommerce companies can also leverage AI to understand their customers better and provide them with offers that they would want to use.
Needless to say, when you send customers offers based on their previous spending habits or preferences, it is much more likely to trigger a purchase.
#5 Get Real-Time Insights
Another great advantage of using AI in your marketing strategy is using real-time insights and tweaking them accordingly.
When you can track how customers interact or engage with your brand in real-time, you can modify your marketing strategy to work better.
With that in mind, knowing the extent to which customers like your content and the aspects that are not sitting well with them will help you tailor your content to be more effective.
Of course, real-time insights on customer preferences means that your advertisements will be more relevant to your customers and will be more likely to hit the mark.
#6 Less Resources, More Quality
You need to remember that integrating AI mostly means that you would be automating a lot of processes. Subsequently, you will need fewer resources than you did when these processes were manual.
More importantly, even though the number of resources required for processes reduces, the quality only increases.
AI in your processes and systems means that you will not need to worry about the accuracy or quality of your output. It will always meet the required standard, and in some cases, even exceed them.
AI is undoubtedly a technology that is here to stay for the foreseeable future. If anything, it is branching out into many smaller segments, which are becoming indispensable for businesses.
Since modern businesses are data-dependent and data-run, AI will likely boost marketing strategies and improve them to meet organizational goals. With that in mind, businesses should start investing in this highly beneficial technology in 2021 — one project at a time.
Ronak Kothari is the founder of RONKOT, a full-service digital and printing agency specializing in web design, development, and digital marketing. With over a decade of hands-on experience in marketing, Ronak helps brands reach new heights.