Role of Machine Learning & AI in Digital Marketing
With the advancement of technologies, Artificial Intelligence and Machine Learning have been playing a vital role in the realm of Digital Marketing. Many Marketers are getting huge benefits by fostering AI in digital marketing strategies of their businesses. Plenty of brands are looking to equip themselves with tools of machine learning to boost their marketing strategies.
Every business has a common objective to achieve higher revenue and faster growth. Tools based on AI and machine learning can fulfill this objective by improving various elements of business. That’s why the adoption of AI in digital marketing has grown by 45% since 2017. AI is a rapidly growing technology and its use in marketing will only continue to increase in the years to come.
Digital marketing is a sector that is suitable for new opportunities and challenges. Since the use of AI in Digital Marketing is growing drastically, it is beneficial to reap the benefits of being early birds. In this article, we will discuss some specific applications of machine learning & AI to improve our marketing efforts.
The world of digital marketing use to revolves around data and analytics. The ability to extract the right insights from sheer amount of data is crucial to the success of any marketing campaign. It can be used to analyze the overall sentiment of people about a brand and to recognize what aspects of brand are discussed on social media.
Businesses are continuously looking for different ways to gain competitive advantage in the market, and the ability to listen deeply to customers and making decisions based on their feedback is a main step towards this. Feedback of customer on social media and other online platforms are a great source of useful and complicated business insights.
This information could help the businesses to make marketing decisions that can serve customers in a better way. Fortunately a subset of AI called Natural Language Processing helps businesses to understand their customers effectively and arrive at these insights more efficiently.
This Strategy was started when customers were addressed by their name while sending email and SMS. Personalization is not limited to addressing customers by their name perhaps it is meant to provide relevant content in real time. It can be used to influence purchasing behavior by promoting offers, cross-sell initiatives and product recommendations made during purchase.
AI helps marketers who are looking to establish a deeper connection with their audience by providing them a highly unique experience. With thorough analysis, AI helps in both content curation & creation, suggesting what kind of content will be well-perceived by the audience. Therefore, Digital Marketers can personalize their content according to their audience’s interests to receive better reach and engagement.
Data of individual consumers makes it easier to personalize the content that reaches the consumers. Every ad you see online can be personalized as per your requirements. The tools of machine learning and AI are used by businesses to enhance the understanding of their target customers.
These tools can be very helpful in analyzing what types of keywords and content are relevant for your desired audience. It can be used to acquire new customers, retain old customers and improve customer experience across every step of their journey.
Over the past 10 years, marketing has increasingly become data driven. Reason behind this is the sheer amount of data accessed by marketers has rapidly increased. With so many tools available to analyze and transfer the data into a valuable strategic asset, predictions about customers have become extremely accurate. This is specifically true for those tools that leverage AI in the form of machine learning & data analytics.
Machine learning runs on data and marketers are required to manage their data house in order to leverage its power. Without quality data, your predictions are meaningless. Machine learning provides you with capability to predict how your audience will react to promotional offers and other marketing tactics. It can predict the likelihood of whether a customer will engage, convert or buy a specific product.
In the case of online shopping, you generate lots of data including clicks on various webpages, browsing behavior and location. All these information are enough for marketers to predict your next purchase. Or if they can’t, then they obviously know how to pull you into the circumstances that can trigger those clicks.
AI tools are effectively minimizing the guesswork with predictions that are much more precise than ever. An early understanding of how customers will react to different marketing techniques can improve the effectiveness of your marketing efforts. As data is at the heart of personalized experiences desired by consumers, having an accurate prediction will boost your efforts.
Content curation is another way in which AI has influenced our daily lives. A great example is content curation system of Netflix which suggests movies based on your interests. In fact, Ad networks now claim to use AI-powered programmatic advertising to curate the best ads for your website visitors. This means more optimization of cost as your ads will only be shown to peoples who have a proven interest in your product.
AI is capable of mimicking human cognitive functions like acting and reacting to inputs. These systems are also capable of understanding human-generated content that is rich in emotions and context. You can imagine smart compose feature of Gmail which can read your email and craft suitable responses while you are going through the message. Using AI in Digital Marketing raises the level of effectiveness by automating the task.
Chatbot is an AI based software application that can engage in conversations with people through pre-defined sentences and phrases. If you are getting lots of website visitors as well as click on your webpages and still unable to make any sales, then your conversion rate is not good. Chatbots can boost your conversion rate by engaging the visitors while they are browsing your site.
Chatbots are software programs that are designed to make conversations with human beings. Many major brands have already integrated Chatbots into their web interface to perform searches and provide answers of specific inquiries. Chatbots have become popular due to their 24*7 continuous operations throughout the day.
Chatbots can relieve customer support team from the monotonous task of answering repetitive queries. It makes communication of your visitor easy and directly connects them with business consultant or customer care team. Chatbots can feed your customers with more content and educate them about the benefits of your services. It allows marketers to gather personal information about users such as location, email address and preferences for specific products.
Accuracy and Optimization
The most compelling reason to implement AI in digital marketing is that you will become less susceptible to human error. Both traditional and digital marketing requires some level of guesswork. Decisions based on data will be more effective and far away from guesswork. AI can improve the bottom line by increasing revenue through the help of better projections.
Certain assumptions are made to target the right set of audience before implementing a new strategy of marketing. Artificial Intelligence makes this guess through a series of predictive analysis using previously collected data. This is beneficial to make relevant decisions while carrying out marketing campaigns. These factors convey the importance and necessity of using machine learning and AI in digital marketing.
The digital form of marketing is evolving and marketers are looking for different ways to delight and engage their customers. You can facilitate the work of your marketing team by using machine learning and AI in your digital marketing strategies.
If you want to be a great digital marketer, then AI and Machine Learning are the key ingredients because they give amazing opportunities to target the right people with personalized & customized campaigns.