Role of Artificial Intelligence in Marketing

One of the most up-to-date trends and a major breakthrough in digital marketing of recent time is artificial intelligence. Artificial intelligence is swiftly gaining popularity; it has ventured most of the sectors in the market today. It is quite evident how AI is changing the way marketers’ asses, solve and implements a solution to improve customer engagement and is gaining insights into how the interactions could be more effective.

Marketing as a field is hugely leveraging by Artificial Intelligence. As marketing mostly involves remarkable planning, intuitive decision making, handling the uncertainty, and factual implementation, AI proves to be the ideal decision support system. AI assists the decision maker with the most relevant and operative inputs to reach a conclusion. That is by providing predictions, evaluating data and trends, providing the latest information, reducing information load, and so on and so far. Now lets us understand the intricate relationship that exists between AI and digital marketing

The Relationship between Digital Marketing and AI

AI is already projecting promising opportunities in the field of digital marketing. It is enabling one of the most crucial aspects of marketing, i.e. predictive analytics. This is, in turn, contributing to improved customer experience, and targeted marketing thus will undoubtedly offer businesses with increased ROI.

Also through additional and na?ve processes like the Internet of Things (IoT), big data and Machine Learning, AI made its presence even more impactful. The above mentioned na?ve topics are among the major components contributing to unleashing the potential of AI. Since last year AI is experiencing remarkable changes and accordingly, the impact AI on sectors like marketing. Now lets us learn how marketers are benefitting from this new age technology.

How are marketers leveraging from AI today?

Even though AI is na?ve to the field of marketing, there has been no compromise is the extent of its usage and the value it has added to marketing. It has bestowed numerous benefits to marketers and one major bonus that the marketers have gained is the growth of competencies of the factual figures, or otherwise called the data analytics. Currently, predictive analytics (the use of stats and forecasting to predict the future) is gaining the limelight more than ever before all credits due to AI. Well, as they change is the only constant, this trend also changes as technology advances. We will further see the major changes that AI is got in marketing.

Artificial Intelligence and its key role in the marketing

1.              Marketing Automation

The primitive responsibility of marketing is to recognize potential customers to be able to supply the right products at the right time and at the right location. AI automation provides real-time monitoring to understand demand. With the utilization of structures of data-mining algorithms, organisations are capable of accessing relevant information which otherwise is a redundant, time-consuming, and of more importantly the economic hit for the companies when done manually is huge. On the other hand, AI seamlessly gathers the socio-economic behaviour, information regarding the purchasing trend in the past of the customer, and primitive interaction with the customer.

2.              Automated Distribution

Distribution of products hugely depends on accurate information. With Artificial Intelligence, it becomes easy to track down the flow of products as well as to keep a tab on demand on the product. One of the best examples is the purchase of Kiva Systems by Amazon. Kiva robots are accepting orders, refilling products, and are also able to lift heavy loads with much ease thereby increasing the efficacy of the company.

3.              Analyze Social Networks

Social Media is one of the key inputs for marketers about how customers are responding to their products. Marketers use data from social networks to interpret the trend and mindset of people. It helps marketers comprehend the consumer behavior towards their product which is vital to understand a market and its sections. AI is has managed to accomplish this intricate job effortlessly and proficiently. The flourishing of online stores is the best example of the maximum utilization of results obtained after analyzing social networks.

4.              Data mining

Data mining is excavating data from the deep and gigantic web. Data mining plays a crucial part in framing marketing strategies. The web is vast and it even hard to imagine how many days it may take for a human to do the work manually. Artificial Intelligence is a boon here; it does all of this work in a blink of an eye. It does the mining of sentiment analysis by studying people's behaviour, attitude, personality, and emotion towards objects, issues, events, attributes, and also by analyzing various other topics. Search Engine on Google is the best example of AI to perform the above task. This sort of analysis will aid marketers in complex decision making.

5.              Internet of Things (IoT)

Internet of Things is the na?ve present and strong future of marketing. AI in the form of IoT is a bonus to companies. Internet of Things is a mammoth web that connects people with each other, it also connects the human race with things, and things to things. In short, IoT is a massive linkage that connects everything together and provides interminable opportunities to marketers to listen and respond to consumer behavior almost in real time. IoT also supports the easy exchange of sales data, conducts keen customer analysis, and even allows the marketers to connect with customers and consumers virtually. Artificial Intelligence is the set to change and shape of marketing through its multifaceted benefits which are even economical.  

- Alex Wood