How AI Is Transforming Marketing?
AI Disruption in marketing
1. Imagine a marketing market WITH Aritificial Intelligence
Innovation has always been the main engine of an improved standard of living throughout history. Imagine a marketing market in which AI(Artificial Intelligence) is the common in digital interactions, transforming the experience of engaging with a brand’s app or website.
Today, AI technology is changing the way marketers reach and engage with customers. With the rapid development and supply of AI, text and audio-based communication has spread rapidly and video and image-based marketing has become easier. As a result, sales can now be accelerated at a lower cost than traditional marketing channel combinations.
However, there are still many problems with AI technology.
Marketing is a creative industry. Empathy, sympathy, and storytelling are attributes that machines cannot imitate, at least not yet. There are also issues like copyright.
But after all, AI is not bound by human limitations. We don't know what AI can do in the near future.
4. Evolution and future of AI in marketing
Artificial Intelligence (AI) is rapidly transforming the future of digital marketing by revolutionizing the way businesses interact with customers and achieve their marketing goals. we combine all the above considerations to depict the current state of AI and its likely evolution.
In the short and mid term, AI will have a great influence in four major areas.
1. Controller of numerical data
AI can do statistical analyses of numeric data very well using machine learning. A typical use case is the application of AI to optimize prices. Pricing strategies must balance two competing concerns; that the price is low enough to attract customers versus high enough to enable the firm to earn sufficient profits. Firms use AI to analyze vast amounts of numeric data (including less intuitive predictor variables) to both set optimal prices and then change prices in real time.
2. Controller of data
Efforts to analyze non-numeric data offer the potential to improve understanding of what customers want, and firms’ customer service. Some AI applications can analyze non-numeric data (in some cases, after conversion to numeric data), primarily using speech and image recognition capabilities achieved with deep learning neural networks. Some AI applications in companies use all types of data (i.e., use numeric data and non-numeric data), we term the AI applications in this cell as reflecting “Controller of Data.” With this data, companies can create customized experiences for their customers based on their preferences, behaviors, and past interactions with brands. Personalization can increase engagement, loyalty, and transformation as customers feel more connected to brands and products.
3. Improved customer experience
AI-based chatbots and virtual assistants can provide users with instant, personalized support and support around the clock. Chatbots are already used by many companies, allowing companies to engage with customers in real time and provide support and support when needed. This can help companies improve their customer experience, increase customer satisfaction, and build brand loyalty.
4. Automation of marketing
AI-based tools can help companies optimize campaigns to increase efficiency and ROI. This includes identifying which campaigns are most effective, which channels drive the most traffic and transitions, and which messages resonate with the target audience. AI-based tools can also help companies automate and streamline their marketing processes, freeing up time for marketers to focus on other areas.
5. AI is a double-edged sword
The future of digital marketing is undoubtedly AI-driven. Although the limits of its use are now clear due to several ethical and technical issues, such as Protecting privacy and Job security for marketers, it is increasingly invading the realm of human "creativity."
As AI technology continues to evolve and become more sophisticated, businesses can expect to see even more opportunities for using AI-powered tools to enhance customer experiences, drive conversions, and achieve their marketing goals. Companies that utilize these AIs efficiently will survive, but companies that do not will die one after another.
These advances in AI will also make it more difficult to emphasize the differentiation between marketing companies, and at the same time, will intensify competition by introducing more diverse companies.
Therefore, continuous research and data collection are required on how to use AI and apply it to marketing.