Artificial Intelligence (AI) is disrupting the status quo across nearly all industries. New innovations are emerging every day that enable a whole new level of sophistication. Nowhere is this trend more apparent than in marketing and CMO’s have no choice but to take note.
There are countless new solutions that enable everything from ad targeting and customized product recommendations to voice recognition and chatbots. Tech-savvy CMO’s are leading the way and demonstrating what is possible. However, it is becoming necessary for all CMO’s to adapt to these new strategies or be left behind.
It’s critical that marketing professionals take the time to educate themselves on new technologies and imagine applications that could propel their companies to exceed goals and delight customers. As AI reaches the masses in everyone’s personal lives, those same individuals’ preferences will evolve, and they will expect the same level of service in business scenarios.
Chatbots are a great example of AI in marketing, and their prevalence is growing quickly. Chatbots provide automated responses based on contextual scenarios and previous answers that have been “learned” by the tool.
For example, you have probably visited a website recently that has a chat function. When the box pops up with a name and picture that appears to be a company representative, odds are you’re communicating with a chatbot. You will be able to message back and forth just like it’s another person on the other end, but the responses are being developed automatically based on information readily available in the chatbot tool.
Content Curation, Product Recommendations, and Ad Targeting
AI powers content curation and product recommendations. Based on an individual’s online behavior, AI tools can determine their interests, buying habits, research techniques, and more. These marketing tactics are very common, particularly for retailers.
Think about a young woman who has just found out she’s pregnant. She may Google “healthy pregnancy” or a similar phrase. She will, of course, see many results for articles, websites, and other resources covering that topic.
The next day, when the same woman is online researching philanthropic companies for a charity project, she will be greeted with ads and other content promoting books, publications, websites, and products all targeted to pregnant women. The value of AI is undeniable for marketing professionals who can clearly target buyers that have a need for what they are selling.
Speech Recognition and Search
Voice prompts are quickly becoming a part of everyday behavior for many. Initially, this technology was clunky and unpredictable, however, the latest versions are remarkably accurate. Not only can a speech recognition tool translate spoken words into written, but it can also provide educated responses to spoken questions, or even take action on spoken commands. The possibilities of this technology are fascinating, and it is still in its infancy.
Take, for example, a businessman on the run between meetings. He is about to have lunch with a prospective new client and needs to review the financial information of the company before he arrives.
While in route to the restaurant, he can simply speak into his smartphone and ask to view the financial data of the company. Instantly, he will be provided with the data he needs to review as AI tools can provide results based on context and will deliver the pages that are most relevant to the request.
Thinking of the capabilities mentioned above, marketers can benefit greatly from marketing automation tools that use AI to engage customers and prospects. They can analyze behaviors and develop campaigns based on exactly when, where, and how those individuals like to receive information. As you can imagine, results are significantly better when campaigns are customized to suit each recipient’s preferences.
Winning the Game
CMO’s have a plethora of new marketing solutions available, many powered by AI. They have the resources to understand their customers and prospects better than ever before, and that can lead them to great success if they embrace the opportunity.
While change can be difficult, it is essential to stay abreast of new developments. Marketing strategies and tactics are changing rapidly, and only those who are educated and willing to try new methods will survive.