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How AI is Transforming Marketing to Power Business Growth How AI is Transforming Marketing to Power Business Growth How AI is Transforming Marketing to Power Business Growth Paradigm Marketing and Design
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Marketing Tips, Insights, and Trends

How AI is Transforming Marketing to Power Business Growth

Author: Madison Deckert Category: B2B, B2C, Marketing Date: February 21, 2024

Marketing team brainstorming ideas

It’s everywhere—permeating nearly every aspect of our lives, from how we shop to how we work to how we communicate. What I’m referring to, of course, is AI—the groundbreaking technology that’s revolutionizing industries and reshaping our daily routines.

On average, businesses that incorporate AI into their business processes improve efficiencies by up to 40% and reduce operational costs by as much as 30% (1). With results like these, it’s no wonder global market revenues for AI in marketing are expected to reach $107.4 billion by 2028 (2). AI is catalyzing a transformative shift in marketing that redefines customer interactions and personalizes the customer journey at scale.

Seven Ways AI Boosts Marketing Effectiveness

Let’s take a closer look at some of the most innovative ways AI is setting new standards in marketing, proving its value as an indispensable tool that fuels sales growth.

  1. Customer segmentation and personalization: AI has the power to instantly analyze customer data to segment audiences based on various criteria at the geographic, demographic, psychographic, and behavioral level. This deep level of segmentation allows you to create personalized marketing campaigns that are more likely to resonate with each group, leading to increased engagement and higher conversion rates.
  1. Predictive analytics for customer behavior: Using data, statistical algorithms, and machine learning techniques, AI can predict customer behavior, such as purchase intent, churn likelihood, which customers are likely to be interested in additional products or upgrades, customer lifetime value (CLV) to a business, and much more. With this predictive information, you can tailor your marketing campaigns to target specific customer segments more effectively, better allocate resources to maximize ROI, cross-sell and upsell existing customers, and proactively address customer needs.
  1. Copywriting: AI tools like ChatGPT offer a useful starting point for any writing project—from emails and social media posts to web copy, blogs, and more—with the ability to instantly generate ideas, outline broad concepts, and create initial drafts. Keep in mind, however, that because these tools lack the nuanced understanding of your specific audience and brand voice, and often create verbose and jargon-heavy text, it takes the skilled hand of a human to bring the piece to the finish line to ensure the message is compelling and resonates with your audience. Think of AI more as a helpful resource that radically streamlines your writing process, not a replacement for human creativity and strategic thinking.
  1. Design: AI is revolutionizing the graphic design world, offering an unprecedented ability to automate routine tasks (e.g., resizing images for different platforms), suggest design elements based on current trends and brand identity, create personalized templates, and more. With deep learning capabilities, AI technology allows graphic designers to quickly generate multiple design variations and determine which visuals perform best with their target demographics.
  1. Chat bots for instant customer support: AI-powered chatbots can help facilitate the 9-13 touchpoint process in the customer journey by providing consistent and instant support during various stages of the customer experience. They engage users from initial contact through to purchase decisions, ensuring each interaction is personalized and informative, thereby nurturing leads to improve the chances of conversion.
  1. Tracking marketing activities: AI systems offer sophisticated tools for tracking and analyzing the performance of various marketing activities, providing real-time insights into what’s working and what’s not. By using AI to monitor campaigns and marketing programs across multiple channels, marketers can quickly adjust strategies as needed and make data-driven decisions that optimize ROI.
  1. Lead scoring: AI offers a systematic approach to assess and prioritize leads, taking into account complex patterns and behaviors that may not be immediately apparent to humans. Using machine learning, AI continuously refines its scoring criteria, ensuring that the most promising leads are identified and delivered to the sales team, so they can prioritize their efforts on the leads that are most likely to convert.

AI is Only as Powerful as the People Who Use It

AI can be a catalyst for profound marketing advancements and enhanced decision-making—but only if used in conjunction with human intellect, emotional intelligence, and intuitive judgment. The synergy between AI’s analytical prowess and human ingenuity is where true marketing innovation and progress flourish.

Watch our on-demand webinar, Powering Your Business with AI: Tools, Strategies, and Insights to learn more, or contact us for a free consultation about how you can incorporate AI into your marketing programs and processes.

 

(1) https://www.linkedin.com/pulse/ai-workplace-future-business-efficiency-cost-savings-daniel-calciano/

(2) https://www.statista.com/topics/5017/ai-use-in-marketing/#topicOverview

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