Throughout history, technological advancements have led to new avenues for storytelling and marketing. For example, television came and revolutionized advertising by being able to connect with massive audiences at one time. Then came mobile phones, which added a touch of personalization to a rather mass-focus method.
Technology today could also be included under the umbrella of Artificial Intelligence, which comprises Machine Learning and Internet of Things. Just as any other technological development method, this new type of technology will have a major bearing on marketing efforts and will change how people interact with information, technology, brands, and services.
Let’s look at some facts to support this claim:
- According to Accenture and Frontier Economics, AI has the potential to double annual economic growth by 2035 in 12 developed economies that, together, generate more than 50% of the world’s economic output.
- Google Alphabet’s Director of Engineering Ray Kurzweil predicts machines will be smarter than humans by the year 2029.
- In the report titled, “Predicts 2017: Marketers, Expect the Unexpected,” Gartner research estimates that AI bots will power 85% of customer service interactions by 2020.
So exactly how will AI help in marketing?
Essentially, marketing efforts – whether online or offline – are structured after thorough analysis of marketing research data. Multiple reports are created and insights are developed, based on how the marketing efforts are distributed to derive maximum return. Thanks to AI and machine learning, the whole process of gathering data and developing reports and insights has been shortened.
Machines can now generate results within minutes for what would have taken days or weeks before. So, marketers can now channel their energy towards innovative and creative marketing strategies instead of spending hours on excel sheets and graphs.
Content has become a widely used marketing tool. AI is a rather useful tool when it comes to content marketing since it can be used for various tasks such as Search Engine Optimization, Social Media Optimization, Social Media Marketing, and Keyword Generation. In some cases, AI can also be used to generate content.
Last, but not least, AI is also very helpful in marketing forecasting. Being able to predict the success of an email campaign or marketing initiative can help companies continuously improve marketing efforts. AI will also help in monitoring ongoing campaigns and developing weekly, monthly, and quarterly reports that indicate success and reach of the various campaigns. Clearly, AI stands to solidly disrupt the marketing industry just as it is disrupting all other industries.
Want to implement AI in your marketing strategy? Click the link below to watch a quick video and to download the whitepaper. What Does AI Have to Do With Marketing?