The rate at which digital tools evolve is difficult to keep up with, to say the least. It seems like every month there’s a new product or standard that’s dropped into our laps to decipher and attempt to utilize. Well, as AI evolves, its main benefit to you is its complexity, as that complexity is what will give us the opportunity to stay in line with the evolution, instead of one step behind. The possibilities for AI use are nearly endless, but there are already some tried and true uses that we can rely on here and now.
CUSTOMER INSIGHT:
Data is integral, and sorting through it takes a lot of time and can require prior knowledge on how the data is collected or what steps are involved in order to interpret it.
1. Predictive analytics - analyzing past customer behavior and trends has always been part of the data gathering process, but AI has a leg up in its ability to process more data than an individual, giving more precise forecasting. Predictions based on purchase patterns, browsing habits, day and time trends, along with other behaviors, result in more accurate next steps for a customer. Thus giving you more tailored recommendations to specific parts of your customer base.
2. Customer segmentation - with AI, customer segmentation is more precise. Algorithms using AI are able to tune into finer details about the consumer, which categorizes them more precisely. These smaller more specific segments can be based on a plethora of details, from age to personal preferences to past interactions. The individual segments allow brands to deliver more personalized messaging that is more likely to resonate with the consumer. This is helpful when you start to implement dynamic content.
BUILDING A MARKETING PLAN:
1. Market and competition analysis - as we know AI tools are capable of analyzing vast amounts of data nearly instantaneously, which gives the opportunity for a more broad-reaching examination in quantity alone. Instead of just analyzing your own pre-defined data streams, it can take into account your competitors’ campaigns, customer sentiment and industry trends. From these analyses, we can be more confident in the effectiveness of our marketing model, as it ties directly into the current market conditions, as well as its ability to identify potential gaps in your current marketing plan.
2. Predictive modeling through goal setting - each business has a different road map for success, and AI algorithms can help build a realistic step-by-step process on how to achieve those goals based on hard data. Some examples of long term goals that AI can help with are setting conversion/revenue goals, optimizing engagement and retention, budget allocation and efficiency though A/B testing, and timeline or milestone goals. By aligning your objectives with all of your available data, you’re taking the guesswork out of setting realistic goals and are able to focus more on customer experience.
PERSONALIZATION:
Overall, customers are expecting relevant content, and AI can add that extra edge to enable your brand to really hit the nail on the head for every individual consumer.
1. Dynamic content - real-time personalized ads, which are ads that adjust content based on the audience and user behavior, are a product enabled by AI. This is one of the most effective tools, as it takes products your online consumers have already shown interest in and puts them right back in front of the consumer for a second look. This can be in the form of an email, for example “take a second look” blasts, or promoting products that have already been viewed when a customer returns to your site.
2. Product recommendations - product recommendation is important; by not personalizing the information or suggestions, studies show that you may be pushing a potential customer away. According to a survey by Stackla, about one third of respondents would leave a site without purchasing altogether if it’s not at least somewhat personalized. Some businesses, like Amazon or Netflix, rely almost exclusively on suggestions.
CONTENT CREATION:
AI can assist on general content creation, but also curating content based on user results, keeping them engaged for longer and across multiple pages.
1. Quick-result content - free AI tools like ChatGPT can assist in writing social media posts, email blasts, product or service descriptions, and really anything that you could possibly have a need for. Of course these results should be tailored - because AI can’t do everything! - but the suggestions give you a great foundation to build off of, and often are more relevant than you’d think they would be.
2. Visual content - there are some AI tools that can help build visuals, though these are generally AI tools that are added on to other products or services. Take a look at Canva, which announced an AI text-to-image generator in 2022, and Photoshop has implemented a similar tool in 2023. You can use these tools for a variety of methods, but take a look at some graphics below I created through the Canva tool.
Along with some promotional text, and a well-built landing page, these could be the visual foundation for a successful marketing campaign.
Whether or not this is the limit of what AI can do for us, it is transforming how the majority of us do our jobs. By combining the data-centric logic of AI with the predictive modeling capabilities, marketers can craft a strategic marketing plan that’s adaptable, audience relevant and, most importantly, effective, you can be confident that the way you approach the market will be prepared and equipped to optimize your resources.