What is AI Marketing?

It’s no surprise that Artificial Intelligence (AI) is at the forefront in digital marketing. The latest statistics reveal that current AI technology can boost business productivity by up to 40%. Companies and their marketing teams are swiftly embracing artificially intelligent technologies to promote operational efficacy while improving customer experience. With  these AI platforms, marketers have a more advanced understanding of their target audiences. The insights gathered through this process can be used to drive conversions.

We’re sure you must be intrigued by the notion of artificial intelligence, it’s been in a plethora of sci-fi films and novels and now it’s finally here, but not quite in this fictional way, yet. In the following article Go Ninja breaks down all there is know about AI in its current state and the benefits of implementing this technology.

What is AI?

The first step, naturally would be to clarify what AI is exactly. According to TechTarget, AI is the simulation of human intelligence processes by machines, especially computer systems. Specific applications of AI include expert systems, natural language processing, speech recognition and machine vision. This definition may seem broad and yes there is not just one singular interpretation.

However, AI has been identified as having three cognitive skills: learning, reasoning and self-correction.

Learning processes: This aspect of AI programming focuses on collecting data and creating rules for how to turn the data into actionable information. These rules, which are referred to as algorithms, provide computing devices with instructions on how to complete a specific task.

Reasoning processes: This aspect of AI programming focuses on choosing the right algorithm to reach a desired outcome.

Self-correction processes: This aspect of AI programming is designed to continuously fine-tune algorithms and ensure they provide the most accurate results possible.

At its core, Artificial Intelligence is a constellation of a multitude of technologies that are able to perform tasks that require human intelligence. When applied to typical business tasks, these technologies can learn, act, and perform with human-like levels of intelligence. In other words it is used to simulate human intelligence in machines, essentially saving us time and money in business.

It is no wonder that AI marketing has recently become an evolving topic in the present day, digital era.

What is AI Marketing?

According to TechTarget, artificial intelligence marketing is the process of leveraging AI methods and tools such as data models, algorithms and machine learning to produce customer insights that marketers can use to optimise spending, customise content and personalise the customer journey. Examples of AI marketing solutions include chatbots, image recognition, personal assistants (such as Google Assistant, Amazon Alexa, Microsoft's Cortana and Apple's Siri) recommendation engines, targeted advertising based on your search and dynamic pricing on e-commerce sites.

Simply put, AI marketing is a method of using intelligence technologies for data collection, gaining customer insights, anticipate customers’ “next moves”, and make automated choices that will determine marketing efforts. In marketing, AI is usually used when speed is essential. AI can even boost return on investment (ROI).

AI allows marketers a deep insight into consumer behaviour. This in turn aids in targeting the right strategy, to a specific person or target audience. Ultimately this is an efficient and time-saving method to execute marketing efforts. You might be wondering how this can be used in your marketing efforts.

Why is AI Marketing Important?

AI marketing and the positive influence it can have on your marketing efforts are huge and will only continue to grow in relevance. In a recent study it was recorded that, 76% of consumers have the expectation that companies, they have an interest in, should understand their expectations and needs. With AI marketing this is possible as marketers are able to crunch large amounts of data, gathered from marketing analytics which is retrieved from the internet, social media and emails, relatively quickly. For this reason AI marketing should be incorporated into marketing efforts. This may seem slightly vague, so lets consider the benefits of AI marketing.

What are the Benefits of AI Marketing?

Automation

AI makes your marketing automation more intelligent. It works alongside marketing automation to allow the translation of data into literal decisions, it will positively impact your business outcomes and establish meaningful interactions.

It’s all about data collection, but what matters the most is AI’s ability to swiftly and accurately turn data into actionable insights. Essentially, the fast pace with which these marketing tasks are executed and implemented is the most important thing that AI marketing can do for your business. AI can help marketers determine the best actionable to convert current consumers, scale the number of campaigns created and it helps define which campaigns to send appropriate consumers.

Minimising Error

As a human, we are imperfect and so it’s natural for us to make errors. It has become quite the topic of moral debate as to whether AI can replace humans and essentially human error, but what will the implications be? This is cause for us to write about a controversial topic, and not quite appropriate for the nature of this discussion but we will delve into this, in another post.

AI exists with the purpose of eliminating human intervention, ultimately eradicating human error. This is especially important when it comes to data security. Common data security issues are a massive cause for concern for many businesses. With cyber-attacks being a real threat and worry for any e-commerce business, AI has substantially reduced these risks. AI addresses these issues by learning, adapting and reacting to the cybersecurity needs of a business.

Save on Costs

AI can help you eliminate redundant resources that are typically used to create and deploy a marketing strategy. With AI, you can reduce costs significantly by working faster and efficiently and ultimately increasing revenue.

If your organisation is unnecessarily spending money and time to achieve results, AI can be beneficial in doing mundane and repetitive tasks. Statistically, according to Ignitarium, AI processes data 125,000 faster, than what a human can, with zero error. Yes, this delves into the previously mentioned debate but we can’t deny that every business can benefit from efficiency. The cost of hiring employees for these remedial tasks can be greatly reduced and efforts can be spent hiring highly skilled professionals to execute critical tasks.

Increase ROI

AI aids marketers in better understanding consumers and thus improves the consumer experience. AI-powered marketing enables marketers to accurately predict customer behaviours, allowing them to design an individually tailored consumer journey with precision, which essentially will increase ROI. With the in-depth analysis of consumer insights, marketers can maximise ROI without wasting time and money on creating ineffective campaigns that could potentially annoy consumers, driving them away.

Increased personalisation

Artificial Intelligence will personalise your marketing endeavours in multiple ways. Many businesses are employing AI to personalise their websites, emails, social media posts, video, and other content to address consumer needs effectively.

One such example where businesses can use personalisation as a marketing tool, are with push notifications. Many e-commerce businesses receive positive feedback with mobile-friendly push notifications. The success of this is attributed to creating a sense of personalisation.  When executed well, push notifications gain the attention of the consumer because each individual consumer will receive a tailored message, based on what they wish to be communicated about, regarding the brand.

Smarter and Faster Decision Making

AI aids in processing data far quicker than if a human were to do the same task. Not only is it faster but AI guarantees accuracy, security, and enables the rest of your team to focus on strategic marketing initiatives driven by AI data collection.

AI is able to track and collect real-time data based on marketing campaigns, this allows marketers to make informed decisions on the spot without having to wait until the campaign ends. This allows the marketing team to determine how best to adjust and execute future campaigns based on data driven reports.

Final Thoughts

Artificial Intelligence has absolutely changed the digital marketing landscape and will continue to shape the future of our marketing endeavours. There is no denying that this technology streamlines the workplace and reduces the workload. It even removes human error from the equation. How will this impact job stability in the future? How does human error fit into the future world, if we are no longer accepting of it? At Go Ninja we believe it is crucial to implement and take advantage of these amazing new technologies but we also believe that it is important not to loose touch with our humanity. The very things that make us human and full of error are the same things that make life astounding with us in it. Contact a ninja if you want to know more about AI marketing and how best to implement it into your marketing strategies.