Artificial intelligence is looking to change the game of marketing by leveraging customer data, to help brands thrive in the competitive market.
FREMONT, CA: Today is a time when technologies play an increasingly important role, especially in the business landscape. It seems that businesses that do not adopt these changes will soon disappear. Among all the technologies, Artificial Intelligence (AI) is most intriguing, as it has great potentials to transform how business is being conducted. Among all business operations, marketing is significantly affected by AI. With the right AI, the marketing strategy will become effective. Here are some instances of how brands are using AI to power marketing efforts beyond what has been done before.
Everything brands do impacts customers buying behavior. Marketing, sales promotion, pricing, competitor activity, and service can result in more sales or lost sales. Brands that have developed a single customer view are able to do customer segmentation based on customer value, understand how much marketing activity to carry out to attract the most valuable customers, and avoid the risk of leaving. AI-based predictive marketing solutions can take all data and quickly develop an accurate, predictable single view allowing brands to develop sales and marketing.
• Prevention of Revenue Loss
Brands hard to bring in new business from their rivals, and their best customers are constantly under attack from competitors. Understanding those customers, their value would be very useful. Brands should also be able to predict when this could happen and what kind of strategies would prevent them from leaving the brand. Artificial intelligence can take all the data and, through machine learning, quickly identify those that matter. It will then help brands build sales and marketing strategies to retain customers.
• Enhanced Brand Experiences
Brands use artificial intelligence to build better customer experiences, and they are just beginning. AI in the brand environment enables companies to collect information, study customer behavior, and act on insights to improve experiences. This means that brands are able to classify targeted data into meaningful categories. This will empower brands to create awareness, advocacy, and ultimately, increase adoption among their target customers.