Artificial Intelligence Marketing: The rise of a transformative force
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“AI is already transforming the way we market. It’s helping us to better understand our customers, create more relevant content and deliver more personalized experiences.” David Ogilvy, Founder of Ogilvy & Mather, ‘The father of modern advertising.’
Artificial Intelligence (AI), is a term that was coined by an American mathematician and computer scientist, John McCarthy in 1955. It refers to the ability of computer-based operating systems to mimic and or duplicate meticulous human-like activities such as recognizing speech, making decisions, and identifying patterns. AI in business has become more mainstream as businesses try to save time, cut costs and improve proficiencies. Did you know that AI is predicted to be worth over $500 billion by 2024?
Artificial Intelligence marketing (AI marketing) is defined by the Forbes Agency Council as a method of leveraging technology to improve the customer journey by anticipating their next move with no additional effort from the marketer. AI marketing uses machine learning, big data analytics and other processes to get a deeper understanding of the targeted audience since much of the guesswork involved in customer exchanges is eliminated thus leading to more effective customer touchpoints. This results in the boost of a marketing campaign’s Return on Investment (ROI). AI marketing is being used by the agile Chief Marketing officer (CMO) to complement marketing teams or to implement more strategic activities that require less human tact. A recent survey conducted by PwC shows that 72% of business leaders rely on AI marketing to grow their businesses. Jump on the bandwagon, do not be left behind!
AI marketing will collect data, learn the behaviour of the customers, for example, liking a Facebook post or clicking a button, and then it will analyse the information. According to the HubSpot blog, the top three reported uses for AI marketing are content personalisation, predictive analytics to gain valuable insights and targeting decisions. Other uses include media buying, automated email campaigns, sales forecasting and search engine optimisation (SEO) since AI algorithms analyse traffic to a website, identify key words and track competitor activities.
One use of AI marketing that has been around for years is chatbots. Chatbots solve quick glitches for customers, answer frequently asked questions and much more. A chatbot personalises the customer journey. According to techcabal, Zivai is a chatbot that offers Zimbabweans an alternative to ChatGPT. Techpress says that Talktoai.co.zw is a chatbot that lets you interact with ChatGPT. Apple’s popular Siri, is a chatbot that uses voice-recognition software. Chatbots transform marketing operations. Chatbots are game-changers!
Previous viewing history is used to determine the artwork for recommended movies or TV shows. If one tends to watch Danai Gurira movies or shows, for example, The Walking Dead, Netflix will most likely recommend other movies or shows, she has acted in, for example, Black Panther. Amazon
Only those that leave under rocks, don’t know that Amazon has an incredible customer experience! It was one of the first companies to build their business around AI and machine learning. Amazon is obsessed with customer experience. An article by Bernard Marr, a world-renowned futurist, influencer and thought leader in the fields of business and technology, says that Amazon’s entire organization is constantly humming with artificial intelligence and that founder Jeff Bezos mandated that data is shared across the organization, not hoarded in one department or process. Did you know that Amazon is so confident about its AI that it will ship things to you before you even think about buying them? They are using continuous AI to understand the context and intent behind customer enquiries, so that they know why people are searching for specific products.
Why should a Zimbabwean business invest in AI Marketing?
AI marketing is a transformative force that will give a business a cutting edge. Adobe Business says that personalized marketing experiences drive sales increases of up to 80 percent and that the development of AI marketing offers the potential for double-digit improvements in outcomes: 41 percent of marketers say that AI leads to higher revenue generation from email campaigns, as well as a 13 percent improvement in click-through rates. According to an Oracle report, 34 percent of marketing leaders believe AI will lead to the biggest improvement in customer experience because it enables hyper-personalized content. With AI, there is a more precise measurement of marketing campaigns, for example, AI marketing tools will pick out which hashtag or hook generates a high volume of leads. AI marketing enables marketers to make quick, informed and cost-effective decisions.
Most people don’t really know what AI marketing is and what it can or can’t do. This, in itself, is a setback. No one will invest in what they don’t understand or don’t trust. This obviously leads to ethical, legal, safety and other such concerns. The first step would therefore be to understand AI Marketing, its benefits and its limitations. At the same time, no system is perfect. Whatever concerns one might have, there will be ways to mitigate them. After all, the benefits of using AI marketing, far outweigh the drawbacks. AI marketing works best when a company invests in technological advancements, incessant fine-tuning, monitoring and robust feedback to minimise concerns because there are no one-size-fits-all solutions.
AI marketing is without a doubt a transformative force that will change roles and expertise requirements for most companies. It will be a very big differentiator in the near future. Businesses that want to survive and conquer should not ignore, the transformative force that is AI marketing…A force to reckon with. Finding a technology partner to walk with through the AI marketing journey, is highly recommended. Predict and lead industry changes!
Rujeko Adlyne Bara is a Maz member and a Maz Trainer. She is an avid Business Strategist, a Brand Champion and an Author who contributes regularly to The ZimMarketer Magazine. Contact: rujekoadlynebara@gmail.com
