Marketers need to use a lot of technology. They use analytical tools, social media, e-commerce, and coded algorithms to enhance customer experience. However, as AI becomes a hot topic of discussion, marketers can also explore new avenues with its application.
Artificial Intelligence is any technology that mimics human intelligence. As advancements have been made in the fields of AI and Marketing, an entirely new dimension has come into existence: Artificial Intelligence Marketing (AIM). AIM is a technique that combines database marketing and direct marketing and is performed by a computer or algorithm.
Simply put, AIM is a data driven and reaction oriented form of marketing. It applies the laws and concepts of behavioral targeting in order to attain desirable results.
The core principle of AIM is threefold: Collect, Reason and Act.
Step 1: Collect
This step involves all routine activities required to capture customer or prospective customer data. The data collected is then saved onto customer or prospect databases.
Step 2: Reason
This second step is where the data is converted into meaningful and useful information.
Step 3: Act
This final step is where all the information is gathered and put to good use, aligning it with the concepts and objects of marketing.
With AI, the differentiating factor is that all three of these steps are performed by machines and not humans. This is extremely essential because due to the algorithms used, large chunks of data can be organized, segregated, and then put to use within minutes.
AI has already made its place in the world of marketing. There are many AI powered marketing apps that are gaining huge popularity among marketers and businesses. Sentient, Persado, Chat Bots, Email Avatar and Watson are some examples of marketing apps that are AI-based.
Megha Shah for TechFunnel.com