Can AI redefine marketing?
AI technologies are slowly, but surely becoming an influential component of our society, as a collective group and of our daily lives, as individuals. No matter from what perspective you look at it, the aim is the same – to enhance the human element.
In marketing, artificial intelligence can help both professionals and customers by reducing the number of available options, delivering relevant products or services to targeted audiences and facilitating communications.
How is that possible?
In the digital era, although it may seem an easy and fast process, customers’ journey to the final purchase is anything but linear: they do their research online, follow reviews and gather plenty of options to choose from. Through smart algorithms and recommendation engines that find patterns in consumer behaviour, AI tools can help reduce the number of options and offer clients relevant answers to their searches. This in turn prevents them from wasting time which could be used for other purposes.
Marketers know the customer picks up their preference from a variety of brands available nowadays, therefore contextual factors are decisive when choosing one brand over another all the time. AI plays a major role in harnessing content delivery by analysis factors such as demographics and preferences to only recommend personalised and relevant products to clients.
Artificial intelligence can also predict consumer behaviour based on databases processing, which can be extremely useful when customers want fast delivery options. AI processes and filters the results and plugs them into future screens and pages. An example for this is Amazon, the retailer leader, and its Prime Now feature, which uses AI tools to enhance the convenience of online shopping and deliver products in as fast as two hours. Similarly, Domingos says approximately three-fourths of movies watched on Netflix come from the company’s recommendation system, which also runs on machine learning.
What about communication?
Customer loyalty is an important aspect of all marketing campaigns. It might be difficult to attract new clients, but it’s even harder to keep them loyal to your brand with so many available options. In this sense, communication should be at the heart of any campaign. The fast-paced business environment makes it difficult for companies to keep in touch with customers 24/7. For this purpose, chatbot systems alleviate the need for human customer service and offer automated, fast and relevant communication. Dubbed ‘chatbots’, these AI engines use natural language and dynamic menus to handle customer inquiries, while also giving brands a way to automate the process of guiding a consumer along the customer journey.
It’s safe to say marketers should expect quick changes with AI’s potential to build upon and grow itself. Businesses and marketing departments are already vigorously moving ahead with the adoption of AI technology. However, despite advancement, experts believe AI is still far away from the ability to snuff out humans.
“All the beautiful things we associate with marketing, they are and will continue to be the human actors and the human participants, not so much the technology,” says Markus Giesler, Chair of the Marketing department at York University’s Schulich School of Business, interviewed by the American Marketing Association. “The beauty of real technology is that it’s like a mirror: We look inside it and what we see is who we are as human beings. Markets are human. The technology helps us get closer to the beauty of that principle.”