- February 22, 2019
- Posted by: admin
- Category: AI
Who does not have the urge to know what lies in the future?
But when the human mind tries to predict, the result is flawed for most of the time. Yet, interestingly enough, when it comes to predicting or analyzing future using Artificial Intelligence, the outcome looks way better.
And this is exactly why Artificial intelligence in digital marketing and predictive analysis is being employed by every business nowadays.
Now, what is this predictive analysis all about?
A form of data mining technique that involves the application of machine learning and statistical models to predict future events based on collected data, is called predictive analysis.
For instance, banks notifying you about suspicious activity on your credit card is purely based on this concept. Statistical models track your past transactions and figure out a certain pattern of your transactional history which is used to predict future transactions. And the slightest deviation from this trend pulls the trigger and you are instantly made aware of anything that seems different.
How can AI help marketers?
To understand the basics of how AI is changing marketing just give it a simple thought. If the marketers are able to garner insights about the buying patterns of the customers or say future market trends, wouldn’t they be at the greatest point of benefit?
AI marketing trends involve decoding the buying habits of customers and then predicting their future buying habits, based on the information that is gathered. And mind you, artificial intelligence for marketingis actually highly accurate!
What are the ways in which digital marketing can predict the future with the application of AI?
The future of ai in digital marketing holds infinite potential. AI can help businesses take advantage with –
1- Accurate prediction
Although sources say, customers who are fully engaged account for 23% when it comes to earning revenues and profitability, for most businesses, disengaged customers are the main concern.
So AI marketing technologies involve generating a predictive model and then analyzing the cause behind their disengagement. Accordingly, marketers can then use necessary means to attract and engage customers for better profitability.
2- Fusion of social media with AI
There are several tools that can be integrated with social media to leverage the benefits of AI, for analyzing customer behavioral patterns across all possible channels. Brand marketers can easily take cues from the findings to modify business strategies.
3- Business content creation
According to what world famous technology entrepreneur Elon Musk thinks, computerized systems will be capable of doing everything that we do, by 2040. Already, business content is being generated today, not by humans but by intelligent machines. For instance, reports suggest that Google has already invested nearly $800,000 for news content creation using only AI.
4- Fruitful connection with customers
The main motive of using AI in digital marketing is to generate awareness among brand marketers about building a bond with buyers. And this is not just about offering huge discounts and deals to attract consumers. Predictive analysis using AI can actually help marketers project about the future behavioral patterns of the buyers. For example, who is highly likely to return a product, who buys in which cost margin, etc.
If the buyers do not belong to the category of returning customers, marketers can analyze their past transactions to ultimately come up with strategies to convert them into loyal buyers in the future.
If businesses are unable to adapt to changes in consumer preferences, they will ultimately phase out amidst competition. Integrating Artificial Intelligencewith digital marketing techniques is, therefore, the best way to predict the future of changing market dynamics.