A recent study by Albert and Forrester reveals that three marketers out of four don’t exploit the full power of AI, which results in their missing out on potential upsell opportunities.
Less than half of the marketers interviewed by the researchers say that they see AI playing an active role in creative development processes. An even smaller group, 34 percent, believe AI could be crucial in other aspects of a business. There’s even a tiny but relevant percentage that looks at artificial intelligence-powered services with suspicion..
But how come?
The Problem marketers have with artificial intelligence
The problem, it seems, is that marketers have a limited view of how AI-solutions can be valuable to their work.
Of course, they know AI is useful, but they see it merely as a supportive, assistive tool for campaign-related tasks. Simply put, they use an electric bike to pedal downhill: sure, you get faster, but that’s not where the bike’s engine will make the difference.
What happens when you use a tool in an assistive way is that your workflow will influence the performance of the tool you’re employing – not the opposite. What AI can bring to the table, instead, is a new way to approach markets and a new number of markets that were unexplored before.
What is the true power of AI for marketing?
First, let’s get practical. To express their full power, AI-based solutions must serve a clear purpose. That is, they can’t be simply used as support but rather should be integrated into the whole marketing process. You want to see AI make the difference, just like an electric bike’s engine when you pedal uphill!
Let’s consider some examples of AI applied to marketing and sales.
We can start with behavior prediction. AI-based clustering and interpreting of consumer data can be used for predicting customers’ behaviors. This technique dates back to 1998 and is applied within the most diverse fields, both in B2B and B2C markets. The TV platform Sky has even implemented a machine learning model that is designed to recommend content according to the viewer’s mood!
Then we have social listening and sentiment analysis. Through technologies of natural language processing, marketeers can analyze their brand presence and target their campaigns more efficiently. An example of this is Samsung, which identified customer’s dissatisfaction with a new release and took the necessary measures before it was too late.
Another good use of AI can be the so-called dynamic creative. AI technology can power creative ads dynamically, making them resonate with the selected audiences. It can facilitate and expedite testing and can support human creativity with data-based assumptions. For more information on this, check out the Econsultancy’s State of Consumers study.
Then we have data filtering and analysis services. That’s partly what we do at Dashmote. Thanks to AI, we can process huge amounts of data, which allows us to provide a solution to marketeers who need to better understand the markets in which they are moving. They’ll be able to upsell their product in a more efficient, capillary way. You can take a look at our services here.
And last but not least – and certainly not the last, as this list could go on and on – are the location intelligence technologies. Again, something that’s heavily done here at Dashmote. We “mapify” business data to allow companies to better understand their market and get a measure of what they are still missing. A nice piece about it is this Natan Sykes’ article.
Use artificial intelligence in a better way
So, wrapping it up, crunching data has to be at the basis of marketing and sales operations. Professionals want to take informed decisions, in turn saving their time and their money. Thanks to a thorough use of data, they can avoid missing out on potential big opportunities and automate the process, making it run smoothly and quickly.
No one says AI will replace good marketers, but it will make them pedal faster and sweat less when headed uphill!