Emerging technology such as artificial intelligence (AI) is the buzz of the business world. Marketing is one specific industry profoundly influenced by this new development. Artificial intelligence utilizes computer algorithms to gain knowledge, make inferences, and predict different patterns or changes.
While there is much discussion surrounding this topic, most companies have not implemented new software into their marketing strategies yet. In a survey conducted by PointSource, an IT service management company, 679 senior-level decision makers were asked about their adoption of emerging technologies. The majority of those surveyed stated that are not currently using artificial intelligence, blockchain, or voice- activated technologies. Approximately 40% of respondents said that they were in the discovery phase of AI intelligence, and 33% responded that they are considering possible vendors at the moment. On the other hand, only 21% of respondents had selected a vendor for AI and 7% had previously tried a vendor and have already moved to another. Furthermore, approximately 46% of respondents stated they were going to major investments in AI within the 12 months.
The Home Shopping Network (HSN) is one company who has taken advantage of artificial intelligence to increase their revenue. In addition to its prestige as a successful television network, HSN has an active social media presence across a variety of platforms. However, recently the company desired to better understand their customers from an individual and personal respect. The Home Shopping Network turned to IBM Watson Marketing to help automate and collect data across its many different channels. Data analyzed included information about customers unique browsing habits, pageviews, search histories, customer profiles, and device types. The company began to recognize customer attitudes of products, content, and even their channel preferences. From an analytical standpoint, HSN believed in a consistent and sequential approach to the engaging personalized messages it was sending to their customers. Essentially, the company had to thoroughly examine where their customers where interacting with their brand and what was the customers’ perspective while engaging on different channels.
IBM Watson Marketing’s cognitive marketing platforms guided HSN to reduce the barriers between the number of different channels that they manage. The cognitive system allowed data to be organized on a platform to produce targetable segments or specific demographics. HSN’s team was able to create campaigns designed for a specific group of individuals based off their distinct preferences and behaviors. Representatives at The Home Shopping Network believe that through this approach, they have created a boundaryless retail experience for their customers.
To boost efficiency, many businesses hope to continue to adapt and make this change in the upcoming months which ultimately involves automating their day to day business operations. While improving efficiency is one advantage artificial intelligence brings to a company there are several others that are important to note.
A more visual experience
As humans, our brains process images at a faster speed than words, therefore; graphics are important when you are promoting a product or service. Artificial intelligence allows individuals to upload images or items that they find interesting, and then those images generate similar products for those individuals to browse through. As image searches become more accurate through artificial intelligence, it will be important to have visuals on your company’s products and services available on the Internet.
Giving the customer what they want
With the aid of artificial intelligence, marketers are creating brand awareness by matching the right products with the appropriate customers. Businesses should be transparent and consistent in the products and services that they provide to their target audience. Collaborative filters are one example of AI in which results are generated for customers based off their previous searches and purchases. Amazon is an example of one company who advertises products that users have previously searched for.
Marketers will always be with customers
Artificial intelligence has introduced the online personal shopper to customers. Through AI, individuals can find specific products in seconds. This creates an easy and enjoyable experience for a target audience. In turn, this can build a positive reputation around your company as one that attempts to meet the needs of your customers in a convenient and quick manner.
Artificial intelligence is transforming the way businesses operate, engage, and interact with different audiences. As advancements continue to develop, it is important for marketers to take advantage of the new tools that can improve their customer experience while also boosting their own company’s innovation and profits.
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