We discussed before how Artificial Intelligence has helped marketer develop insightful campaign through refined market segmentation, accurate data and how it improved customer interaction. AI is a broad term covering all technology that seeks to mimic human intelligence. As a result of I would like to discuss some of the most effective AI technologies for marketing across the customer lifecycle.
Artificial Intelligence and Smart Content Curation
AI-powered content curation allows a brand to show the website visitors content that’s relevant to them. Most importantly relevant content has been proven to lead to better customer engagement. The more someone uses the service, the more the data the more accurate AI-powered content .For instance Think Netflix’s recommendation system that suggests shows that a user would be interested in based on his/her history.
Programmatic Media Buying
Machine learning algorithms models generates Programmatic media buying to effectively place ads that target intended and relevant audience.
Therefore AI can help recognize safe websites and questionable websites. For example it identifies terrorist or misogynistic websites, and add them to a list of unsafe websites where a brand doesn’t place ads.
The machine learning algorithm is fed large amounts of historical data and uses this data to generate a propensity model which, in theory, can make accurate predictions about the real world.
Further it can be applied to predict:
- The likelihood of a customer to convert
- At which price the customer is likely to convert at
- Which customers are likely to make repeat purchases.
It is important to keep in mind that a propensity model is as good as the data provided to create it.
Artificial Intelligence helps in Ad Targeting
With AI, thousands of variables are constantly optimized so that a more effective ad placement and content can be achieved. In the same vein AI runs vast amount of historical data to run targeted Ads. Furthermore it can establish which ad is performing best on which people and at which buying stage.
Artificial Intelligence and Dynamic Pricing
It is well known that sales help shift more product, but sometimes it can also hurt the bottom line.
AI helps with this problem by creating a propensity model that can Identify and target :
- Those who need special offers to convert.
- Those who don’t need offers to convert.
This filtering leads to maximized profits.
In conclusion businesses of all sizes can implement all artificial intelligence techniques mentioned above. Each AI tactic can help take the customer down the marketing funnel. AI is helping marketers around the world save time and create effective campaigns.