Artificial intelligence is no more hype in 2018, it's becoming a reality. A report by Gartner predicts that by 2020, 85 % of the customer interaction will be managed without human interference. Companies have started investing in AI and related technologies to leverage its benefit as competitive weapon. Researchers are exploring the potential benefit that AI can deliver in the business world as well as society as a whole. With the implementation of AI in real world, enterprises are trying to integrate AI in organization culture and strategy to make data driven decision. Following are ways that AI will boost marketing and increases the ROI:
Smart Searches: Consumers are efficient in leveraging these tools with the emergence of social media and intelligent search engine. They can get huge information and search patterns for better content optimization. AI improves learning, the search behavior of customers, SEO and social media strategy which leads to smart content delivery and better results. Now a new feature is also there called voice assistant by which we can also search.
Intelligent Marketing: AI systems are well prepared in automatically sorting and analyzing big data which comes from various sources like, social media, customer support etc. When it comes to big scale, AI can help marketers to find innovative ways to optimize the content, placement, targeting and bids. AI can also recommend fresh content that the audience is mostly like to engage with.
Automated Customer Support: The idea behind human-level AI system is becoming a reality. Enterprises are stepping toward making chatbots and voice assistants as a part of their digital strategy. Very soon the traditional customer support will get obsolete as a means of communication usually includes email or telephony but now they deal with IVR system. Customers are in favor of brands that support automated bots for painless resolution. Now bots are trained how to interact with the customer. It increases the loyalty among the customers.
Churn Prevention: Churn of a loyal customer is one of the major losses for any enterprise. Reason for churn could be anything like our competitor is offering a better deal or service to the customers. AI powered tools work on the historical data, create a predictive model and forecast churn behavior of the customers. The old customers are incentivized to retain with the brands and these old customers also maintain the brand value.
Smart Content Creation: Artificial Intelligence (AI) is a hot topic nowadays, but some companies are still yet to explore how to use it in their strategy activities and campaigns. But according to Gartner by the year end of 2020, 85% of the customer interactions will be managed by artificial intelligence. Data Scientists and Engineers that are working on AI are pushing themselves hard to create AI systems that learn the nature, language, and emotions so that they can perform the entire task and also predict the behavior and possible activities.
AI enables marketers to convert ideas into reality but also is empowering them to connect with the customers in a way which was considered almost impossible. While this technology may appear to be consuming more resources or needing big investments in starting, but when it is implemented it gives more outcomes thus, the ROI is going to be huge. Thus, brands are using this technology to gain massive advantage over their competitors who lacks in this technology.