Applications of Artificial Intelligence are thriving industries. Many businesses are pioneering in implementing this technology in their processes to make better decisions and achieve a competitive advantage over their rivals. In today’s post, we will explore how marketers can utilize this technology to improve their marketing efforts. We have listed out a few of the best applications of Artificial Intelligence in Marketing from companies like Facebook, Pinterest, etc., who have been using AI successfully in their marketing strategies over the years.
Improving Customer Experience with Chatbots: The use of chatbots has been increasing exponentially across various industries such as e-commerce, travel, and finance -Chatbots can help you interact with your customers by answering their questions and even help place orders online if it is an e-commerce website. Most companies are using text chatbots, but Facebook is currently testing out voice-enabled chatbots. The use of chatbots has been increasing exponentially across various industries such as e-commerce, travel, and finance –Chatbots can help you interact with your customers by answering their questions and even help place orders online if it is an e-commerce website. Most companies are using text chatbots, but Facebook is currently testing out voice-enabled.
Balancing Marketing Budgets: Artificial Intelligence technology allows for better allocation of marketing budgets to yield better results. For example, if modern technologies allow your business to advertise products more efficiently than your competition on social media websites like Facebook or Twitter, then AI will automatically increase your budget in these platforms.
Customer Segmentation: Businesses are using machine learning algorithms to analyze different customer data with the motive of targeting content or products at a specific audience by analyzing past purchase behavior, shopping cart value, likes on social media, etc.; making better use of customer data will help marketers segment customers based on their “lifetime value” which means they can allocate marketing budgets more efficiently.
Data Analytics: Modern AI techniques allow applying Artificial Intelligence technology to business analytics problems. For example, AI-powered tools like Amazon Redshift and Google BigQuery uses machine learning modeling and statistical programming techniques to provide insights into your customer base. Using AI technologies to perform deep data analysis will become a key part of the process as businesses aim to turn more of their data into insights.
To summarize, AI technologies are increasingly used across various business processes; one of the best applications that marketers can use is chatbots to improve customer experience.