5 Ways Artificial Intelligence Can Be Beneficial For Your Brand

Artificial Intelligence (AI) has rapidly emerged and revolutionized the way businesses operate. In fact, AI can streamline tasks, gather customer data, conduct financial analyses, generate content, and even imitate human cognition. This has started a large controversy across multiple industries, where the outlook on AI is divided: on one hand, some think it is unethical to take away from human cognition and intelligence, while on the other hand, some think it is beneficial to have fast-working technologies to enhance human performance.?

In this blog, we will discuss 5 ways artificial intelligence is beneficial for your brand.?

1.??????Marketing and Segmentation

As the e-commerce industry is expanding, and the marketing strategies are getting more creative, it’s safe to say that the competition is fierce. E-commerce business owners are having to double, or even triple their marketing efforts to generate more conversions. AI techonology has thus developed the ability to help you in your marketing strategy. In fact, AI tools can hyper-segment audiences based on psychographics, demographics, as well as their past browsing behavior to help you reach your target audience. AI can also predict which platform or channel will work best, what type of content to publish on each, and whether the content should be advertised or kept organic. It can even give you specific ideas for each stage of the marketing funnel, so you can climb up the ladder and get successful results.?

AI tools can also offer great insight into your social media platforms; it can tell you what’s working vs. what’s not, and give you reports of your marketing efforts.?

2.?????Personalized Product Recommendations

Customers crave personalization. Research shows that around 70% of consumers are more likely to become customers if your brand caters to their specific needs. Most people do not want to waste time looking for what they specifically want or need, and rely on your brand to offer it to them without them having to dig deep. Creating personalized customer experiences manually is nearly impossible – but that’s where AI comes into play.?

AI technology can gather data and insight to learn about your customers through analyzing their behavior on your website as well as their information (demographics, previous purchasing behaviors, web searches, etc.) This allows AI to automatically generate a personalized experience for your customers by redirecting them to the products they are looking for.?

3.?????Automated Customer Journeys

Not only can AI help with your marketing strategy and customer personalization, but it can also help take you even further. Indeed, after it’s gathered customer info and personalized their shopping experience, AI can predict your customers’ next move through market, algorithm, and data analysis. The more AI learns about your customers, the easier it is for it to accurately predict their next move, whether it be adding an item to their cart or contacting customer support. AI can automate a response to your customers based on their actions. For example, let’s say your customer has viewed one of your products several times but is hesitant to complete the purchase. Your AI tool will pick up on this behavior and automatically generate an informative email including customer reviews, or a how-to of your product to further convince them to purchase it.?

4.????Dynamic Pricing

Having trouble with competitive prices? AI can help with that too! AI tools can suggest optimal prices for products in real-time by evaluating huge amounts of market data. You can then adjust your prices based on the data to boost your sales and lead the competition.?

5.????Virtual Assistants??

Virtual assistants (VAs), such as ChatGPT, are chatbots that use language processing and learning technologies to understand your customers’ queries and offer them support automatically. Beyond Apple’s Siri, or Amazon’s Alexa, virtual assistants can be incorporated into your website to help cater to your customers promptly and effectively. VAs are active 24/7 and can handle large amounts of enquiries quickly and efficiently.?