Artificial intelligence's impact on marketing is a topic that interests all those who want to boost their commercial initiatives, enhance their brand equity, launch new products or services, and much more. In this article you will read about the essential points to be taken note of in order to improve the efficiency of your strategy.
First, it is important to remember that marketing is about building relationships between companies and people. Today, its main goal is to support business objectives by creating an optimal, smoother, and seamless customer experience.
Also the marketing strategist must always keep an eye on the future; thinking about how to simplify, improve and optimize processes; and looking how to make data processing more efficient and productive to be used in decision making.
Which skills should we enhance to raise our marketing strategy to the next level?
- Creativity: Being creative is an inherent human characteristic; however, when we design products, services and communication activities, we can be inspired by technology.
Today there are tools that may help creative teams in their process in order to find inspiration, for example, by using browsers, image banks or social networks and their suggestion algorithms.
And even AI could be involved in creative tasks, for example DALL·E 2 has recently been introduced, DALL-E is a new AI system that can create realistic images and artwork using a natural language description. In our Art-Explorer. demo, you can also find an example of an AI solution applied to the world of art.
- Analytics: In order to gather relevant and accurate information about motivations and behaviors of our potential customers, we have to enhance our analytical capabilities to the maximum. At the same time, this analysis will be helpful for us to conclude on performance of our marketing efforts and to make data-driven decisions.
At this point, AI and Data Science make our job much easier, thanks to machines' computational capabilities. We will have higher processing speed, accuracy and predictive strength; but on top of that, it allows us to analyze amounts of information that would be almost impossible without these powerful tools.
If our analytical capabilities are better, we will be able to develop powerful, fully personalized, more accurate and automated marketing and sales activities.
Big Data, together with Data Science, is another great partner for marketers.
With the use of Big Data and AI we can have deeper market insights, more accurate and reliable customer segmentation. With the development of new technologies, we can now, besides enterprise and market data, also obtain a huge amount of valuable data from mobile devices, computers and other connected gadgets.
For example, in the typical A/B Test, marketing campaigns are evaluated by groups, where you can get an average value to know if a campaign A is better or worse than a campaign B. But with Big Data, we will have the capability to evolve some variations and alternatives:
- The A/B test can be performed almost automatically, where various options can be active in real-time, measuring each one's impact, allowing us to know which is the most effective one.
- Using Uplift models allows us to go a step further, given that it lets us know which campaign is more effective for each customer. In other words, in traditional A/B testing you know that campaign A performs better than campaign B in average, but it may happen that certain customers prefer campaign B. Techniques such as Uplift models and causal inference allow you to determine which campaign is more suitable for each customer, which has a positive impact on your business.
By using such new technologies, we can know better our customers, which allows us to create tailor-made marketing campaigns for each profile.
Stay updated with our posts, where we will explain in a more technical and detailed way how the Uplift Models work.
We must not forget that technology can become our best ally in the design and execution of a Marketing Strategy. Artificial Intelligence, data science and big data are critical partners for the Marketing departments across different organizations.
Each company will constantly seeking to provide the more customized products and services to their clients; with the lowest costs and the highest efficiency, data helps them mainly with the following features:
- Predictive analytics
- Insights-based content generation
- Customer Relationship Management (CRMs)
- Effective digital communication
Moreover, if you have ideas of #technology applications that can be useful for your strategy, or any questions about the impact of artificial intelligence in marketing; do not hesitate to contact us at firstname.lastname@example.org, we will be happy to hear from you.