The Future of AI in Marketing
Global spending on artificial intelligence continues to climb as the technology evolves, and it is expected to reach $110 billion in 2024. Big tech continues to invest in AI, with top players such as Google, Amazon, Facebook, and Microsoft acquiring smaller AI companies and driving algorithmic advancements, innovation, and collaboration.
IDC’s program vice president, Artificial Intelligence, Ritu Jyoti, said, “AI is the technology that will help businesses to be agile, innovate, and scale. The companies that become ‘AI-powered’ will have the ability to synthesize information (using AI to convert data into information and then into knowledge), the capacity to learn (using AI to understand relationships between knowledge and apply the learning to business problems), and the capability to deliver insights at scale (using AI to support decisions and automation).”
AI in Marketing
With ongoing improvements in AI technology come exciting applications for marketers. AI has become a powerful element of marketing technology, and marketers are finding it much easier to gain deep, meaningful customer insights. Improvements in AI’s accuracy along with new possibilities in terms of cross-platform data integration and analysis are helping marketers succeed as they adapt to changing conditions.
Some marketers are finding that AI-supported email marketing drives repeat purchases and customer retention. By handing some of the manual and time-intensive data analysis, decision-making, and campaign optimization work over to their AI-enabled email marketing solution, they are able to work more strategically and make improvements to their marketing programs.
Highly Personalized Customer Experiences
How brands communicate with their customers plays a big part in creating a personalized experience. When a company or brand is able to speak directly to individual customers at the most relevant moment, it helps to facilitate the loyalty loop that has replaced the traditional customer journey. This is where artificial intelligence has a significant role to play, in creating personalized customer interactions.
Watch this short video to learn more about personalizing customer experiences with AI-supported email marketing.
The Role of the Marketer
As AI-enabled marketing technologies change, so does the role of the strategic marketer. While artificial intelligence continues to improve in terms of automated tasks, communications, and customer behavior analysis, the creative and strategic aspects are left very much in the hands of the marketer.
The Importance of Data Integration
Companies are seeing a surge in digital touchpoints, yielding more and more data to feed into their AI-enabled systems. As companies learn more about what AI can do they will likely look for opportunities to harness the power of their customer data and use AI-enabled technologies to automate routine tasks so they can work more strategically.
Data integration across platforms is essential for realizing the full potential of AI-enabled marketing. AI can be applied in many ways, from email marketing to social campaigns, analytics, and content marketing. Marketers who have a high level of data integration across their ecommerce platforms and apply AI across their marketing efforts will have a real advantage.
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ReSci is a team of marketers and data scientists on a mission to democratize AI. We make powerful recommendations and predictions accessible to brands.