2024 AI In Shopper Marketing Technology Landscape
Snipp Interactive
Customer Acquisition Retention and Engagement (CARE) Platform Loyalty - Promotions - Sweepstakes - Rebates - Rewards
Artificial Intelligence (AI) is making waves across?almost every?industry, and shopper marketing is no exception. Capable of creating personalized shopping lists,?optimizing?ad creative, and even bringing more relevant products to market at a quickened pace, AI is poised to drive marketing efficiencies, customer experiences, and innovation for brands and retailers looking to stay competitive and relevant with their shoppers in-store and online.??
In a recent study conducted by?Deloitte,?40% of grocery executives surveyed think their company will be using AI for a business application in 2024. So, is there a single killer app, or will its impact reach broader? AI has its tentacles in almost every aspect of shopper marketing. This year, both the front and back offices are represented; for example, 31% of the grocery execs surveyed stated that AI could be used as a customer assistant, while 22% looked to manage supply chain logistics. Of course, there are many other ways that AI can impact shopping.??
We've created the AI Shopper Marketing Technology Landscape to help you keep ahead of the fast pace of innovation. Even though AI is being employed in-house by both brands and retailers, this landscape is designed to help you identify up-and-coming AI innovators in their respective categories. This guide follows from our?Shopper Marketing Technology Landscape?released in 2023.?
Artificial Intelligence In Shopper Marketing Technology Landscape 2023
Without further ado, here is the 2024 AI In Shopper Marketing Technology Landscape. Click on the image for a larger version (or here for a?PDF Version). See the graphic below for details about each category included in the landscape.
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AI In Shopper Marketing Technology Categories
Predictive Analytics?
Uses Ai for real-time demand forecasting to manage?inventory, analyze customer behavior for personalized?marketing, and track market and competitor data.
Creative Optimization
Analyzes consumer data to generate and refine ad content. Tests various creative elements, ensuring that the most?compelling creative is used for each target audience.
Advertising Optimization
AI analyzes consumer data for precise targeting and?personalization to optimize budget allocations across?channels and monitor real-time performance.?
Price Optimization
It uses real-time data for AI-generated dynamic?pricing, analyzes promotions, and tailors market?strategies to adapt to market changes quickly.
Promotions Fraud Management
Uses AI to detect fraudulent activities, optimize promotional?strategies, and ensure the integrity of discount offers,?promotions, and loyalty programs.
Product Innovation
Analyzes market trends and consumer preferences,?generates and refines product ideas, and forecasts?market demand, supporting product innovation to stay?competitive and develop personalized products.
Customer Engagement
Analyzes consumer data to create AI-derived personalized?interactions, automating customer service with chatbots?and anticipating customer needs.
Customer Support Tools
Automates responses, personalizes interactions, and?analyzes feedback, enhancing efficiency, resolving?issues quickly, and improving customer satisfaction.
Measurement
AI provides data-driven insights on campaign?performance, customer behavior, and ROI, optimizing?marketing strategies and improving decision-making.
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Retail Merchandising Services
Optimizes inventory, ensures planogram compliance, analyzes?sales data, manages promotions, and enhances in-store?execution for increased sales and efficiency.
Personalization
Analyzes consumer data to deliver tailored marketing?and product recommendations. Optimizes?customer interactions by personalizing content, offers,?and experiences based on individual preferences.
Dynamic Pricing
Software that automatically adjusts prices in?real-time based on market demand, competitor pricing,?and other factors to optimize revenue.
Demand Forecasting
Data analysis and?predictive models are used to estimate future consumer demand,?helping businesses optimize inventory, pricing, and?supply chain decisions.
Path to Purchase Analysis
Track and analyze consumer behavior across channels,?identifying touchpoints and influences to optimize?marketing strategies and enhance the buying journey.
Video Personalization
Creates tailored video content enhancing engagement and customer experience by customizing messages and visuals based on individual viewer preferences and behaviors.
Voice of the Customer
Analyzes?customer feedback,?identifies?trends, and provides actionable?insights?to improve products, enhance customer?satisfaction?, and?better meet consumer needs.
Supply Chain Optimization
Streamlines logistics,?forecasts?demand,?manages?inventory, and?reduces?costs, enhancing overall efficiency, responsiveness, and profitability for CPG clients.
Customer Segmentation
Uses data analytics to divide customers into distinct groups?based on behaviors, demographics, and preferences,?enabling targeted marketing and personalized experiences.
Retail Media Platforms
Enables brands to advertise directly on retailer websites, targeting shoppers with personalized ads based on browsing and purchasing behavior.
E-commerce + Digital Shelf
Enhances product visibility and sales by optimizing online retail platforms' listings, keywords, images, and descriptions.
Social Commerce + Shoppable Media
Third-party technology solutions for retailers to enable brand advertising and promotions on their owned digital media assets. Retail media was once reserved for brick-and-mortar titans like Walmart and Kroger but is now a growing opportunity for regional grocery and drug retailers. Tech providers like Kevel and CitrusAd have made monetizing their digital assets easier for these smaller players, allowing their brand partners to market directly to their digitally engaged shoppers.
The First AI In Shopper Marketing Landscape?
We hope you received value from this Shopper Marketing Technology Landscape. Feel free to contact us if you see other categories of AI innovation or if we’re missing key innovators or examples!?Feel free to?drop us a line?with any feedback, additions, or changes for us to consider in upcoming landscape versions. We’d love to hear from you!?
This article appears on the Snipp blog.