What is Artificial Intelligence and why should Marketers understand it?
In the past two years there is a term that has grown an enormous presence among Marketing conversations. Most of us are aware of that term and at the same time many are not fully aware of what it entitles and the impact it is already having in the Marketing industry.
Artificial Intelligence is already among us and here to stay, impacting in all those industries where technology is already present. If you are not a developer, you do not need to become an expert on it, but it is important that you slowly become more acquainted with it since it will become more and more recurrent in your business conversations.
In this article, we will briefly explain what is Artificial Intelligence and provide examples of how Artificial Intelligence is already impacting the Marketing Industry
What is Artificial Intelligence?
If you search online for an Artificial Intelligence definition, you will find a million of those. Some of them are more complicated than others. For the purpose of simplicity and easy understanding, I selected the definition provided by IBM:
“Artificial Intelligence leverages computers and machines to mimic the problem-solving and decision making capabilities of the human mind”
I chose this definition because this article is aimed at the Marketing community, meaning that we should not try to understand the HOW (“leverages computers and machines”) but should focus on the result, the WHAT, the benefit - “mimic the problem-solving and decision making capabilities of the human mind”
Why is Artificial Intelligence in Marketing important? What is Marketing AI?
“Mimic the problem-solving and decision making capabilities of the human mind”
This one sentence englobes so many benefits and opportunities in the Marketing Industry. Companies strive for efficiency and effectiveness and artificial intelligence augments the reach of those terms within the business organization.
Marketing AI, refers to the concept of Artificial Intelligence directly applied to Marketing defined by, again, leveraging computers and machines (remember we don’t need to understand the HOW) to collect data, customer insights, consumer behavior, creating audiences and make automated decisions related to the Marketing Media Planning & Media Execution process”
Let’s dive into some of the benefits of Marketing AI:
Understanding your audience: Artificial Intelligence helps you analyze large amounts of data and predict every customer’s buying behavior/decisions. With this valuable information you can implement more effective marketing campaigns to a target audience.
Save time & money: digitilizing your organization’s processes will enable a centralized way of working, making sure that every team member is compliant with your processes whilst collecting valuable data for further improvement. Automating several repetitive processes will save you time and money (efficiency) and enable your time to focus on what really matters most (effective)
Data Driven decisions: using AI-drive data analysis and services will enable you to drive a more effective digital marketing strategy by removing assumptions whilst marketing. Better formed decisions translate in effectiveness in your marketing strategy, driving a higher ROI (return on investment)
Improved user experience: Artificial Intelligence unlocked a new level when it comes to identifying your target audience and displaying them the right content at the right time. This benefit naturally enhances customer satisfaction as they find what they need, driving not only more conversion but also increasing brand loyalty.
3 Real Examples of Artificial Intelligence applied to Marketing
By now you understand what Artificial Intelligence means and you grasp some of the main benefits in Marketing AI. Let’s get to the practical side of this concept and see how AI can support your business:
Chatbots: are one of the major examples of AI technology in Marketing. They help in customer engagement and boosting customer experience on your brand’s website. Chatbots cover most of the common questions and even offer the possibility to triage your customers to a human if the situation requires. Remember, efficiency is key, so allow your team to focus on what really matters most whilst letting chatbots support those customers that don’t require human interaction and even in a faster way and 24/7 available (expand your customer support operating times)
Personalized product recommendation: one of the widely used AI technology by eCommerce / retail brands. By understanding what your customers are interested in based on their browsing history, buying history, etc… target your customers with personalized recommendations and boost your product sales.
Enhance the shopping experience: Artificial Intelligence is broadening the possibilities for brands to improve their shopping experience. For example, through augmented reality, customers can check out how a pair of shoes will look on them by simply using their phone from the comfort of their home. See this example from Adidas and their shopping experience:
Conclusion
So now you know, Artificial Intelligence is on its ascending curve of impact among all industries. It might sound scary for the non-tech savvy users to talk about it or even try to understand. Remember, don’t focus on the HOW but on the WHAT benefits it brings to you and your organization. I hope you got a glimpse of it through this article.
The question I have for you now is, is Artificial Intelligence in your organization’s radar? How are you updating yourself on its constant evolution and its benefits on your industry?.
Our tool, Cubik, is web-based solution for augmenting your Media Planning and eCommerce initiatives powered by Artificial Intelligence. Contact us today and learn more about how Marketing AI can help you improve your business.
