AI and machine learning takes marketing to next levels
Who would have thought about the rise of digital marketing minimizing the disadvantages of traditional marketing? Digital marketing changed the marketing industry, and companies can reach out to more people at low prices. Who would have thought about the AI and machine learning eliminating the complexity in Digital marketing?
"AI and machine learning perform the complex tasks giving more time to experts to think of new strategies"
Marketing is essential for every business. Customer relationship can be acquired through marketing. Earlier traditional marketing techniques were used by companies which involve television, posters, banners and so on. People of only a few areas can be targeted using traditional marketing.
These days people love to use Facebook, Instagram, Twitter, and other social media applications. Each day a lot of users register on these sites. With comparatively less pricing, more people can be targeted using digital marketing. So, companies started using social media as a platform for advertisements. By this, they are creating a win-win situation. How?
Well, People get entertainment free of cost using social media applications. Apps like FB get money for advertising on their news feed. Companies get benefitted as more people will get to know about their products.
Everything is going well, but there exists a problem. Every product solves a unique purpose. Companies who want to promote their products should target people who require or have an interest in using their products. Let us consider a small business where they sell t-shirts as one of the domain. Advertisements related to t-shirts should be displayed to youth within a certain age.
If ads are displayed to all, then it is wastage of money and time as only few will show interest. Since there are millions of people, filtering them with specific interests, it is challenging and time-consuming. Machine learning and AI are the combined solution for this problem. Let's see how.
AI and machine learning completely remove the complexity of filtering people. Now marketing people can focus only on developing strategies to attract people. The first step is to decide what type of audience will want to use your product. Design banners and if possible videos describing the usability of the product.
Once the type of audience is finalized, based on the data provided, AI will filter out the people based on your priorities. That data is used to target specific people with interests on the usability of products. Not only for filtering people out of millions, but AI and machine learning are also utilized in marketing in lots of ways.
Let’s consider the example of the Google Search Engine. As soon as you start typing, lots of suggestions are displayed. Most of them will be relevant to what you are going to search for. How is this possible? Google themselves admitted that they use Rankbrain, a machine learning language, for this. Google records every search queried by the user.
Its powerful algorithms search as soon as the user starts to type in the search box. Artificial Intelligence coupled with machine learning aided in this revolutionary search behavior.
Chat-bots On Websites
Nowadays the replies of chatbots resemble humans. It is not possible for customer care people to be available online all day. In those cases, chatbots will be of great help. They humbly chat with humans and take in queries posted by users.
This is quite an interesting concept when you get to know the working. Let’s say you searched for a pair of shoes on Google. You searched for quite a bit of time. (Remember that the websites take help of artificial intelligence to monitor user activities.) You browsed through Amazon, Snapdeal, Flipkart, etc. All these activities are being monitored. If you visit any other websites, users may find similar search results in the left or right column of sites in place of their ads. The process is all dynamic. Based on your searches, the ads portion changes.
Note: User activity is not misused. They use it only for marketing purposes.
Honorable mention: Artificial Intelligence has made this feature possible.
We discussed that AI, and machine learning has paved a way of automated refinement of people for targeted advertising. After social media, websites are a great way of advertising the products. But ads should be displayed to only those people who are interested in seeing them. Both AI and machine learning takes care of this phase.
Things like device information, interests and activities of users over the internet are all taken into consideration before displaying ads. Based on factors, relevant advertisements are shown to them on websites.
E-commerce websites offer discount prices on their products at regular intervals. It is a marketing strategy to attract users. But interestingly, the price for items on sites is dynamic but not static. That signifies that based on demand, the rate may decrease than the actual cost. Artificial Intelligence takes care of this section.
Previously to solve problems, programs are coded with fixed inputs, which it process to give an output. If you want to add specific behavior to a program, it has to be coded again, and errors should be fixed (if any). Machine learning concept is introduced to overcome this problem.
Machine learning enables the system to accept new modifications. Keeping in mind that business runs well only when customers are satisfied and are loyal. Communication with customers plays a vital role in any business to take it to the next level. It is not possible to give the same message to all who asks different questions.
With the help of this concept, personalize messages to clients can be achieved. Based on activities, messages will be stated and sent. By analyzing the previous data of users, machine learning can predict about the customers (whether they are returning customers or not). Machine learning prediction can also know Customer's lifetime in the business.
Digital marketing is a revolutionary step surpassing the disadvantages of traditional marketing. AI and machine learning eliminated the complexity involved in digital marketing. This created time for experts to plan and apply unique strategies to attract people. Advancements in every field of technology are happening rapidly. Simple steps to follow are as follows.
- Know your product.
- Find out its purpose and for whom it serves.
- Plan a strategy.
- Filter through millions of people using AI and machine learning.
- Target ads to those selected people.
- There is a 92% chance that at least some will show interest and proceed to buy your products.