A Primer: How AI Marketing Software Can Boost Sales
November 29, 2018
The machine-assisted world is coming at us faster than ever before. The time to check out Artificial (AI) Marketing Software is now! You know what we mean… You can hardly walk down the street, listen to the news, or jump on the Internet without seeing some robot, or some new invention accessible to you via Google Assistant, Alexa, and Siri.
Artificial intelligence (AI) – that is, machines doing the work of the human mind – is no longer science fiction.
In marketing, AI software is the equivalent of having a super-smart marketing strategy (and market research) department looking at your data and helping you make sense of it – on a 24/7 basis. And, it’s revolutionizing the sales process.
Business Insider reports:
“According to market research firm TechNavio:
The AI market in the United States is expected to grow at a compound actual growth rate of about 50 percent through 2021.
In its 2017 report Artificial Intelligence: The Next Digital Frontier?, the McKinsey Global Institute urges companies not to delay “advancing their digital journeys” — especially when it comes to leveraging AI.”
McKinsey is encouraging entrepreneurs to jump on the AI train and not be left behind. “It will be those who understand how to use AI in new ways, to create new mindsets and paradigms, that will enjoy a competitive advantage that wasn’t there before.”
Truly understanding your customers has been a challenge for business owners since Day One. In recent years, web analytics have made it easier. But, AI is taking the art to a new level.
The real question now is not whether you have a lot of data about your customers (because you do). Rather, it’s: How do I take advantage of that data to increase my sales and serve my customers better?
How can a small or middle sized company like yours start using AI, and for what purposes?
Here are some ways that you can begin to leverage the power of artificial intelligence:
AI software, in general, gives you a holistic picture of how all of your marketing efforts work together. It looks at the minute patterns of each visitor’s online behavior on your website and your digital campaigns. It’s all about understanding each step of the “customer journey”– from creating Awareness and Interest to assisting visitors in making a Decision and taking Action.
By using AI software on your marketing platform, you can learn about where a customer is within your sales funnel at any moment. By analyzing real-time data, you can spot new opportunities.
The Benefits of AI Marketing Software
1) Creates and utilizes a free exchange of data in real time that’s integrated with your whole marketing “ecosystem”.
2) Enables you to pinpoint and use your customers’ “path to purchase” to further refine your sales funnels and to correct any spots where prospects might be bouncing off your site in midstream.
3) Further refines your customer segments, showing you where you need separate messages, content and incentives to bring each customer to a decision point. As a result, you can create “predictive content” to boost engagement and sales.
In essence, as a marketer, AI software allows you to see very quickly what’s working and what’s not – and why – without spending endless hours analyzing the data yourself.
Using AI helps you be proactive in responding to the behavior and needs of your prospects and customers. In fact, most AI software programs offer data insight reports and alerts that are generated automatically, available to you at any time.
Perhaps most importantly, AI software helps you take customer insights from various platforms, like your website, as well as from the social media posts of your prospects and customers – and then use that data to gain a better understanding of how to improve your open rates, lift marketing campaign opt-in rates, and ultimately, boost your conversion rates by as much as 50 to 68 percent.
For example, one of the most popular ways to get started with AI is to add a voice-search assistant on your website.
To learn more about AI, check out some of the most popular AI marketing systems, such as: Marketo, Watson Marketing, Cloud Machine’s Learning Engine, Salesforce’s Einstein, skikit-learn, Microsoft’s Azure, OpenCV, IBM’s Watson, Apache’s PredictionIO, Nvidia’s Deep Learning AI, Ayasdi, Meya, and TensorFlow.
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