AI has broadened the scope of marketing because of its efficiency, versatility, and accuracy in the past few years. It has improved customer experience and has made the task easy for companies to promote their products and services. Also, AI can predict accurate marketing results.
So, let’s look at some of the advantages of AI in marketing.
Advanced Personalisation using AI
AI has made easy to analyze customer’s behavior and interests by collecting data and designing patterns automatically. Gone are the days when people had to analyze the data manually and predict trends. So, by the use of AI, lead generation and customer engagement have become easy, fast, and efficient.
Proactive in sales opportunities
Companies have a large number of customers and data, and to find which products to target to which customer is a big hustle. Here AI comes to the rescue and predicts optimum solutions and strategies using data and customer information. It recommends products and services related to the customer’s interests and provide regular updates and news regarding to their interests.
Prevent Revenue Loss
With a lot of competition in the market, with every company trying to acquire your customers, it is important to keep them engaged, otherwise will result in revenue loss. Hence, it becomes important to know your customer’s value, know their interests and expectations, and ways to persuade them not to leave your services.
AI collects the company’s data and predicts trends and ideas that help in designing marketing strategies to retain customers and add new users.
Dynamic Pricing
Customers often tend to compare and buy products at the lowest possible price. Dynamic pricing is another advantage of AI in marketing where AI sets prices, according to the availability, demand, customer profile and other factors to maximize both sales and profits.
This gives a product a good advantage in the competitive market and also appeases customers to buy, thus increasing revenue and sales.
Chatbots
Customer service chatbot is a relatively new technology to solve customer’s problems, reducing the workload on customer care centers. Chatbots are set with answers to common queries and provide an instant reply. This reduces customer service time and enhances customer experience. Chatbots also helps in marketing products by providing details to customers at one click.
Data Segmentation
Data segmentation is basically the process of dividing and grouping data based on different criteria that help in making marketing strategies and plans. With AI, companies can analyze different data sets in an ordered way that helps in knowing their customer’s demands and interests in a better and efficient way.
Hence, AI has an enormous potential to promote products and analyze customers. Some other advantages of AI in marketing are:
- It reduces marketing costs.
2. It Generates clean and useful data.
3. Increases transparency between companies and customers.
4. Obviously helps in increasing business and revenue.
Therefore, it is advantageous to use AI in marketing.
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