Have you ever chatted with a virtual assistant when searching for information about a product? Turned on the oven or heater at home via an app on your mobile device? Have you come across ads for products or services at a time when you were actually interested? Chatbots, Internet of Things (IoT), and dynamic personalised advertising are just a few of the online helpers powered by an artificial intelligence system.
The term artificial intelligence (AI) refers to intelligence that in any way reflects human capabilities. It means the ability of a computer, device, or robot to mimic the capabilities of the human mind by learning from examples and experiences, recognising objects, understanding language, making decisions, and solving problems.
Due to the huge amount of data that is generated online minute by minute, the use of AI tools in marketing is becoming indispensable. That’s why we’ve selected six trends in AI that you need to consider this year.
1. Predictive analytics – classify an enormous amount of data
Predictive analytics allows you to identify your potential customers and their expected behaviour with the help of large amounts of collected data. By understanding and placing this information in the context of your business, you can make smart and effective decisions that deliver measurable results.
In this way, you can design an optimal sales strategy based on past customer purchasing patterns, increase the relevance of your offer, optimise operational, marketing and technology costs, and increase customer retention rates.
2. Dynamic optimization of e-mail campaigns – tailor the sending time and content to the recipient
When e-mail recipients interact with content, AI learns their behavioural patterns. This enables it to prepare of e-mail campaigns that are content-adapted to the recipients and thus increase the possibility of interaction or motivation of the recipient to do what we want (click for more information or purchase).
AI also determines the most appropriate time to send e-mail campaigns and performs optimal audience segmentation according to interests. Did you know that AI can write better email campaign subjects than a human?
3. Personalised ad delivery – relevancy is paramount
Based on the large amount of data collected, you can use AI technology to show users customised or personalised ads. These allow you to reach potential customers in all stages of their journey. Build awareness and educate in the research phase and optimise conversions and increase your audience in the decision phase.
Personalised advertising also lets you create audiences that are similar to existing ones, increase your conversion rate, and optimise your advertising costs. In this way, you can reach your (potential) customers through all channels, devices and ad formats.
4. Content recommendations – read, watch and listen according to your interests
If you are a YouTube or Netflix user, then every time you visit, content awaits that AI selected for you, based on your past views. If you change your searches, AI adjusts and presents you with updated recommendations.
You can now implement the same functionality on your website. That way, you’ll know your visitors and their interests before they tell you what they want. By adjusting the selection of any type of content, you can achieve up to a 35% higher average purchase value and up to an 80% higher conversion rate.
5. Chatbot – a competent helper for queries
A friendly interlocutor on online platforms who is always in the mood to chat is called a chat robot or chatbot. Its advantage is that it provides the user with useful information on how to find the right product or service 24 hours a day. This is made possible by software to automate responses with the use of ‘natural’ language – the language used by people in conversation.
At the same time, this hospitable chat ‘person’ stores collected data, on the basis of which he learns and improves his performance in future conversations with the user.
6. Create dynamic pricing – increase profits and optimise inventory
Have you ever received a different price for a product or service than your friend? AI analyses a number of variables involved in real-time pricing: competitor prices, material and production costs, market demand…
In this way, it enables providers to set prices that bring them the most profit at a given moment, and optimise inventory.
The list of existing AI tools is even more extensive and it is high time you implement those that will optimise and automate your processes.
Developments in AI technology are definitely lightning fast and hard to keep up with. But as Brian Solis puts it: “Every business is a victim of Digital Darwinism, the evolution of consumer behavior when society and technology evolve faster than the ability to exploit them. Digital Darwinism does not discriminate. Every company is at risk. “
So go into action today.