In the modern landscape of marketing, companies are increasingly relying on AI to help them go-to-market faster and have more effective targeting to engage with customers, all while reducing cost and increasing revenue. AI is being used in many ways to help companies succeed. AI is revolutionizing the way companies do business and provides great potential for those who understand how to use it. Below are the 5 ways companies are using AI to maximize revenue and improve customer engagement.
1. Use AI to Create an Original Content
AI can be used to create marketing and sales content. For example, this entire blog article was created using a language model like ChatGPT, WriteSconic, or Jasper, to name a few. This type of AI technology is trained on a massive dataset of text and is able to generate human-like responses to prompts, including blog articles, responses to FAQs, ad copy, and much more. There are other tools like QuillBot to help with paraphrasing and checking for unintentional plagiarism against billions of sources.
AI algorithms are used to generate images or videos that are unique and have never been seen before. These algorithms can be trained on a dataset of images and use that information to create new, original artwork. Another way AI algorithms can be used is to take an existing image and apply the style of another image to it. For example, a photograph of a landscape could be transformed to have the style of a painting by Van Gogh. If you think that wasn't enough about using AI to complete images with missing parts or unwanted elements in photos, AI is used to create and manipulate artwork, from generative art and style transfer, to image completion, 3D modeling, and music generation. As the technology continues to evolve, more possibilities for AI-generated art will emerge.
Companies are using AI to create engaging videos at lightning speed and at a fraction of the cost. Use AI videos to create and share promotional videos, product demos, customer testimonials, and other types of marketing content that can engage and educate your target audience. Video AI tools like Synthesia are also being used to deliver training and educational content to employees, customers, or students in an engaging and interactive format. Synthesia can be used for marketing purposes.
2. Improve Customer Engagement and Satisfaction with Self-Learning Chatbots
Chatbots powered by AI can understand and respond to user input in a natural, human-like manner.This includes understanding the intent behind a user's message, as well as identifying entities, such as people, places, and things, mentioned in the message.
AI can identify the intent behind a user's message and match it with the appropriate response. For example, a customer asking "What are your store hours?" would be matched with a response that provides the store hours. It can also detect the sentiment behind a user's message, such as whether the customer is happy, angry, or neutral. This can help the chatbot provide a more appropriate response, such as offering assistance to an angry customer, or predict what a user is likely to say next, based on previous responses.
Many companies are integrating chatbots with their CRMs, ERPs, and e-commerce platforms to provide a more seamless customer experience. AI powered Chatbots like LivePerson can provide 24/7 availability, quick response times, and improved customer satisfaction.
3. Get Higher Engagement and Conversion Rates with AI-powered Email Marketing Tools
AI can be used to analyze customer data and segment that data into email groups based on demographics, interests, and behavior. This allows for more personalized and targeted email campaigns, which can result in higher engagement and conversion rates.
AI can also be used to analyze customer data and generate personalized subject lines and content for each individual email recipient. This can include personalized greetings, product recommendations, and other elements that are tailored to the recipient's interests and behavior.
Software like SeventhSense is used to manage and analyze their email marketing campaigns. It provides features such as list management, A/B testing, personalization, tracking, and reporting. The software helps companies optimize their email marketing efforts, improve engagement rates, and drive better business results. Lastly, AI-powered NLP can be used to analyze the intent behind a customer's email, and match it with an appropriate email response, which can improve the customer service and sales processes.
4. Use AI to Conduct Market Research
AI algorithms can be used to analyze customer reviews, social media posts, and polls to identify patterns and trends in customer sentiment. This can help companies understand how their products or services are perceived in the market and identify areas for improvement.
It can also be used to predict future market trends and patterns based on historical data, allowing companies to identify opportunities for growth and make more informed business decisions such as creating helpful topics, improving product features, and identifying areas of dissatisfaction so that the customer experience can be improved. By providing more accurate and efficient data analysis, AI can help companies better understand their customers and the market and make more informed business decisions.
Kompyte is an AI driven competitive intelligence software that provides go-to-market teams with the insights they need to win their market. The software uses machine learning to collect, analyze, and organize data to help teams generate and share actionable insights in real-time.
5. Using AI for Real-time Ad Targeting
AI algorithms can be used to analyze data on customer demographics, interests, and behavior, to predict which individuals are most likely to be interested in a particular product or service. This allows companies to target their ad campaigns more effectively. In addition, using AI in real-time bidding systems helps optimize ad placement and targeting in real-time, based on factors such as the customer's browsing history, location, and device.
Ever wonder how AI is being used to analyze the intent behind a customer's search query, and match it with an appropriate ad? This can be done using search intent targeting.
Lastly, AI can be used to segment a company's audience into groups based on demographics, interests, and behavior, allowing for more personalized and effective ad targeting and retargeting.
In conclusion, AI technology is rapidly becoming a key tool for corporations across all industries. AI is providing a lot of opportunities for businesses to gain a competitive advantage. Schedule a consultation to talk about growth opportunities within your business.