AI in Marketing

AI, better known as Artificial Intelligence, is constantly progressing in the modern business world. Utilizing AI benefits marketing campaigns in many ways, in order for them to be more effective. It helps businesses fulfill orders more efficiently and optimizes current and future campaign endeavors. Using this tool in marketing allows a business to have a greater advantage over other companies. Continue reading to learn more about Artificial Intelligence related to marketing and what benefits it has.

Data Analysis

To start, we will talk about AI’s relation to data analysis. Utilizing Artificial Intelligence in data analysis allows a company to very quickly sift through large amounts of industry and consumer data, rather than spending an inordinate amount of time (and money!) doing this manually. This type of data analysis allows companies, like BOOM! Marketing, to collect data from various marketing campaigns that have been run or are running. Through doing this, we can observe different data trends and metrics that could ultimately help companies determine who to target and where to invest their dollars, to better optimize campaigns and their results.

Media Buying

Artificial Intelligence can also be used in Media Buying, which is the buying of advertising space on different marketing platforms, including websites, streaming applications, and games. AI allows advertisers to automatically buy advertising spaces across platforms based on the wants and needs of the company. This type of AI is able to predict the most effective ad placements so that businesses can reach their target audience, increase clicks and conversions, and maximize their ROAS (return on ad spend).

Automated Decision-Making

Artificial Intelligence can also give businesses the opportunity to use automated decision-making. This consists of the AI using first-party and third-party data to determine which marketing strategies are most beneficial for company growth. This way, the AI can create reports for the advertiser, as well as simultaneously complete different tasks regarding pushing out ads.

Content Creation

Another way in which AI is sometimes used is for the creation of content. Oftentimes companies will use AI because it is cost and time effective, but it can create amazing content as well. The types of content that AI generally is used to generate are the writing of video captions, email subject lines, blogs, copy for posts, and more. 

Customer Personalization

Lastly, AI is very useful for real-time customer personalization. Artificial Intelligence is able to customize content and messaging based on a customer's previous e-commerce behaviors and demographics. This has proved to be an invaluable tool. A report from Epsilon, the current leading outcome-based marketing company, found that “80% of customers are more likely to do business with a brand when the brand provides them with a personalized experience (CMSWire).” Artificial Intelligence is critical in cultivating this experience for every customer. Another large factor in AI personalization is the ability to recommend products. AI can use past data to push business products to consumers that have either shown interest or fit into the products’ target demographic. Finally, AI is able to decrease wait times and inquiry for customer service representatives. AI-powered chatbots have the ability to maintain scripted and/or rule-based conversations with live customers. This allows customers to skip a layered multi-step process that may involve waiting for a live customer service representative and receiving the information they need quickly.

Congratulations, you made it! You now know everything you need to know about Artificial Intelligence and its use in Marketing in order to utilize it in your business. Although AI learning and adaptations are ever developing and it is hard to conceive what AI’s limit is in business, one thing's for sure: Artificial Intelligence will continue to be used in local, national, and international business for the foreseeable future. This is by no means a complete list of all AI capabilities in marketing, but this blog highlights some of the main uses that pertain to you. If you have any questions about the use of AI in general or how your business can incorporate it into its marketing strategy, don’t hesitate to reach out to us at BOOM! Marketing.