AI can also help identify keywords that would enable businesses to write persuasive content. It would also help to better respond to customer comments and feedback.
user response to personalized ads
Source: Statista
Many users in the US like personalized ads and a 2022 survey showed that 81% of Gen Z users like personalized ads. The percentage decreased with age though – but still 57% of millennials like personalized ads.
Data Analytics
Data analytics is another key use of AI in marketing. Using AI-powered data analytics would also help in taking better strategic marketing decisions including allocating marketing dollars and choosing the correct media for advertisement.
AI would also help marketers to respond swiftly to changing market trends and tweak their strategy to respond to any changes in the marketplace. Companies can also use data analytics to arrive at a pricing strategy.
Automation
AI can help automate several marketing functions. Automated marketing campaigns including email campaigns are another way through which companies can use AI in marketing. It’s a cost-efficient way and when used along with AI it can create better results with a targeted approach.
Chatbots are another way through which AI helps in marketing. While chatbots have been around for a long, canada telemarketing database they would get better with generative AI.
What Impact Is AI Having in Marketing?
AI is already having an impact on marketing. Companies are using it to understand the consumer better and using it to not only enhance their existing proposition – but also come up with new products and services.
Companies are also using AI to understand their customers better. This helps in increasing customer loyalty towards the brand and increasing customer retention.
AI is helping companies lower costs across the board and while most companies are using AI to optimize their logistics and supply chain costs – using AI in marketing is also helping lower costs.
Notably, a CNBC/ SurveyMonkey Workforce Survey showed that 46% of employees in marketing and advertising verticals fear that AI would make their jobs obsolete – which is twice the overall average.
How Can AI Be Used in Marketing in the Future?
Meanwhile, AI is yet to make major inroads into marketing but a 2017 analysis by McKinsey showed that marketing is one business function where AI would add the most value.
One of the reasons some companies have been hesitant to use AI in marketing is because it’s seen as a function where a high degree of emotions and by its extension human involvement are required. Also, some companies fear that AI might generate offensive or inappropriate content which would harm the brand.
Meanwhile, the use of AI in marketing looks set to increase in the future. These include:
How Will Generative AI Shape the Future of Marketing?
Generative AI in Marketing
Since generative AI is still in its early stage, a lot of companies might test the waters before pivoting to the technology. With the current state of even the best generative AI systems, they still need to be fact-checked and watched over by a person to make sure they don’t make glaring errors. As generative AI gets better, the need for a human bottleneck will likely evaporate and efficiency will skyrocket. Companies like Amazon AWS offer tools that can help companies further integrate generative AI into their marketing to make the process as efficient as possible. Amazon incidentally sees a big opportunity in AI and is integrating it across different business functions.
Combining AI with AR
Earlier this year, Snap launched its new service around augmented reality (AR) which lets users try apparel and wearables from the comfort of their homes. AI is already being used in AR technology in solutions like complex resolution up-scaling. Combining AI with AR could power a whole host of useful features for marketers.
For instance, as more companies integrate AI chatbots into their ecommerce platforms to help buyers select the right product and service, they might also consider combining it with AR to make the proposition even better.
Making Real-Time Decisions Based on AI
While AI is being used to make decisions including in marketing, generative AI would help companies take decisions in real time. This could entail changing the product pricing based on the market as well as gauging the demand and supply in real-time.
How to Start Using AI In Your Marketing Strategies Right Now
There are several ways to use AI in marketing strategies right away. Amazon AWS for instance offers multiple tools to integrate generative AI into the marketing function.
Companies like Affectiva help build M