As technology becomes more advanced, we are seeing big changes in the marketing landscape that we’ve never seen before. Data is easily accessible thanks to the internet making it easy for us to analyze behaviors, know our customers better, and market to them more effectively. One such technology that’s making waves is artificial intelligence.  

AI has been around for quite some time but it wasn’t until the last few years that organizations began utilizing it in their marketing efforts. If you’re curious about how AI has changed marketing departments across the globe, keep on reading.  

1. Customer Support Real-Time 

What does a customer do when there’s no attendant at the store? They leave. With the help of AI, you don’t have to experience that with your website. Whenever a site visitor has a query, they can get real-time support. Some of the best AI chatbots out there are already able to handle complex customer questions and provide support just as good as a human being.  

2. Predict Customer Behavior 

AI is able to analyze previous data and predict customer behavior in the future. As a result, you can customize your service to fit their needs and even target potential customers. AI gets smarter the more it learns and its predictions will only get more accurate as time goes by.  

3. Enhance Customer Experience 

Crafting a successful marketing strategy involves looking into the buyer’s journey, and tweaking each step to ensure that the last one results in a sale. If you want to increase your revenue, you need to think about the customer experience. AI enhances that by collating data and deciding which strategy is the most applicable to the individual. The customer gets a tailored experience which makes them more likely to buy.  

4. Influencer Outreach 

Influencer marketing is a great way to reach your target audience. However, the outreach part of it isn’t always fun. You have to gauge the influencer’s personality making sure they are a good fit for your brand. AI can help make the process easier by scraping data on the internet for influencers with huge followings and analyzing them based on how receptive they are to P.R. outreach. This saves you a lot of time as you only need to pursue influencers who are best matched to you.  

5. Product Pricing 

This method of pricing your products with the help of AI allows you to charge customers prices they are willing to pay. You don’t need to change your prices every time. AI does this for you. Its machine learning capabilities analyze customer patterns and predict their receptiveness to certain price tags. It can even predict the exact amount of discount it takes for them to convert.  

If you’re curious about competitor prices, AI can look into your top competitors’ catalog, compare it with yours, and tell you whether you’re pricing your products too high or too low.  

6. Sales Forecasting 

Imagine how much money you could save if you know exactly how much of each product in your inventory you have to stock? AI helps predict future sales by looking at past sales data. Not only that, it also looks at the industry demand and economic trends. Then, it provides estimates on how much demand for the product there will be. This ensures that you are only selling a specific number of items and prevent wasting money and storage space on unsellable inventory.  

7. Ad Targeting 

This task is normally assigned to PPC experts but AI can make the ad targeting more accurate not just in terms of what audience to market to also the type of ad, what time it’s seen, and where it’s seen. Again, it uses data to make precise predictions so you don’t spend ad money needlessly. More than that, it can also adjust bidding amounts depending on the value a customer is able to provide to your business.  

Which of these strategies do you find the most valuable for your business? Share your thoughts in the comments below.