Blog

The Marketing World Welcomes AI

We’ve all heard the rumours that computers will one day be able to replace humans in the workplace. Artificial Intelligence, or machine learning, is a rapidly expanding industry that has the potential to completely change the job market and how we do business. AI is making huge leaps in the marketing world specifically, offering solutions that increase workplace efficiency and improve the consumer experience. Here’s a look at a few of the ways Artificial Intelligence is changing the marketing industry!

Content Curation

Artificial Intelligence can learn what a consumer enjoys by tracking their usage patterns and can then tailor content based on these preferences. This ensures that they’re seeing what they want to see, which increases satisfaction and future purchase intent. Netflix relies on AI to generate their recommendations for what the user would be interested in watching next. They list a percentage (i.e. 95%) to indicate how likely it is that the customer would enjoy watching a specific program, which is calculated by analyzing what they have watched in the past and how they have assigned ratings. The same algorithms allow e-commerce sites to suggest products that the consumer is likely to want to buy next, encouraging additional purchases and eliminating the search process for the user.

Product Pricing

Price is one of the key factors in any marketing strategy, and AI is making it easier to determine the best price point at any given time. With the help of Artificial Intelligence, software is able to factor in current pricing trends, sales trends, inventory levels, and any additional considerations to determine the best selling price. This can be updated automatically to keep up with the constantly changing stream of information to ensure that brands can maximize sales.

Sales Forecasting

Artificial Intelligence is making it possible to predict which sales leads are actually worthwhile. It can also reveal how a specific lead should be approached, whether it be an email follow up, phone call, meeting invitation, or otherwise. AI can also suggest which specific salesperson within a company would be the best pick for the job, all of which could lead to increased profits by avoiding wasting time and winning more business. Harley Davidson grew sales leads in New York by 2,930% in only three months by introducing the AI platform “Albert”, which generated “lookalike” sales leads that closely resembled past high-value customers. Finding new clients could be become a whole lot easier, allowing companies to grow faster than ever!

Chatbots

Chatbots use Artificial Intelligence to interact with users in real time, just like instant messaging with another person! They can provide assistance and services to end users through language analysis paired with an extensive knowledge of the brand’s information and databases. Facebook has been developing a chatbot that could eventually replace 1-800 numbers entirely! Growthbot is a chatbot designed for marketing and sales that is integrated with numerous applications such as Salesforce, Google Analytics, and Facebook Custom Audiences. It can generate a list of prospective customers by entering a simple phrase such as “show me law firms in Toronto that use Google apps”. It can also generate the biggest influencers on a specific topic on Instagram, automatically return a company overview and list of employees by entering the company’s web address, and countless other useful commands for marketing professionals.

Web Design

Having an attractive, user friendly website is a must for any company. Artificial Intelligence is making it possible for websites to essentially build themselves with minimal user input. Applications such as The Grid process user preferences and translate it into a website design. Using algorithmic layout and typography selection along with automatic image recognition and resizing, The Grid is able to create a website that satisfies the company’s needs as well as user needs. Companies are able to select the purpose of the website, such as gaining a following or selling products, and the layout will change accordingly. Creating websites continues to become easier with time, and humans are starting to have a reduced role in the process.

Although computers are well on their way to dominating the workforce, marketing professionals are likely to hold onto their jobs for the time being. Artificial Intelligence currently lacks the creative capabilities of humans which is the pillar of the marketing industry. For now, AI will simply help remove the tedious and less interesting elements of the marketing process.