In simple terms, AI is the science of making machines smart.
Artificial Intelligence (AI) refers to systems or machines that mimic human intelligence to perform large-scale tasks and that have the ability to constantly improve on the information they collect.
Machine Learning (ML) is a class of artificial intelligence methods characterized by training systems to apply solutions. In Marketing Technology, ML is an opportunity to quickly make crucial decisions based on big data. Marketers use ML to find patterns in user activities. This helps them predict the behavior of users and quickly optimize advertising offers.
So, what is AI Marketing Technology?
If AI is the science of making machines smart, then AI MarTech is the science of making marketing smart.
AI MarTech looks to solve the “one size fits all” results. It makes a huge difference in predicting consumer behavior and optimizing MarTech tasks where speed is essential.
You take the best creative ideas from the marketing team and use those with ML to be able to accurately predict and optimize experiences for each unique visitor.
AI does this by analyzing the content and the activities at a scale that are being implemented and determining if it’s actually driving results at the end of the day.
In this article, we want to share some of the specific benefits that we’ve seen in our experience at Zigatta when applying AI to Marketing Technology.
#1 Accelerate revenue growth
When personalization-at-scale is done right, businesses achieve a notorious increase in sales revenue, in order frequency, and a higher ranking in average order value. The benefits transcend marketing alone and drive higher customer satisfaction metrics as well.
Here are some stats provided by the team at DRIFT to further prove the point:
“41% of B2B professionals surveyed said they’re using AI to accelerate revenue.”
“$5.9 trillion annual impact of AI and other analytics on marketing and sales.”
#2 Create personalized consumer experiences at scale
Today’s consumers want their individual needs met immediately, and don’t want to be treated as just another member of a business’s generic target market. The amount of content and the complexity of matching this content to various audiences could be too much to handle manually as marketers. AI has become one of the central pillars in delivering personalization at scale and speed. In the end though, your AI is only as smart as the data you feed it. This is why the data you track is so important.
Just take a look at Netflix, they have implemented AI technologies paired with their customer database to be able to spot trends and make discoveries faster and better than humans in most cases. This is what helps Netflix to provide personalized recommendations to their users based on what they like to watch, and get it right almost every time.
#3 Drive down costs
With increasing customer requests, providing a personalized customer experience could become a tough task and poor customer experience could lead to a downfall, creating high revenue risk as well. Predictive AI allows you to create solutions based on the customers and to be more efficient on nearly all interactions in businesses every year.
This can result in millions of dollars saved by enabling us to address issues that affect costs and revenue.
#4 Generate higher ROI on campaigns
Using AI to drive personalized customer experiences helps you use the power of your data, and using ML to predict the behavior of users and quickly optimize advertising offers at scale and speed, will result in maximizing your marketing budget and being able to save up time and have better accuracy.
#5 Get more actionable insights from marketing data
Actionable insights make you rethink a situation and push you forward to find a new solution. While most insights are helpful, not all are actionable. Machine learning is great at speeding things up and being more accurate in predicting consumer behaviors. AI reveals the “Why” behind individual customer interactions, resulting in more actionable insights that AI predictions can use to be “relevant” in the moment of an interaction.
Here at Zigatta, our Data Science Team created an AI-game that shows clothing items to know what customers like (and dislike) based on a recommender system. With this AI-game solution, we were able to help a startup achieve up to 5x the speed over the initial data gathering process, obtaining more actionable insights. In addition, item returns decreased by 11%, boosting customer satisfaction, after improving the deliveries of professionally curated clothing with the machine learning recommendations module.
#6 Predict consumer needs and behaviors with greater accuracy
This is what AI is for. It allows you to detect what the market demands in an early, fast, and agile way through machine learning and to access the behavior of each consumer to optimize their experience with valuable content.
Artificial Intelligence enhances the speed, precision and effectiveness of human efforts, it will provide a predictive analysis of possible new environments that could affect our business.
Zigatta assembled a team of consultants and data engineers to design and implement a modern, centralized CRM system, a robust Business Intelligence solution, and a Machine Learning algorithm with predictive analytics. Integrated an Azure Machine Learning solution to provide insights about chunk detection, up-sales recommendations, and onboarding on new and existing customers.
#7 Reduce time spent on repetitive data-driven tasks
With AI support, you can maximize the possibilities to monitor performance, set goals and make the right data-driven decision to optimize your organization’s efficiency.
Your goal is to automate routine tasks that marketers normally perform. And that reduces the time required to complete those tasks, leveraging time to generate value and eliminating the need for marketers to perform tedious, repetitive, and time-consuming tasks.
#8 Shorten the sales cycle
Having a better understanding of your customers is one of the fundamental principles to offer a quality service. Thanks to AI, it is much easier to identify the preferences and buying habits of your leads, so you can offer them options that make the buying process faster.
Machine learning and Artificial intelligence are the perfect tools to combine customer service and sales.
For example, ManyChat, a powerful chatbot that for free allows you to automate and personalize messages and possible question and answer sequences, allowing you to connect to Instagram Direct Messages, Facebook Messenger, and SMS, creating fluid and colloquial conversations and providing an experience of privacy, instantaneity, and humanity.
#9 Unlock greater value from marketing technologies
Today our customers are increasingly demanding in terms of price, quality and value, expecting a personalized and tailored experience.
Marketing technologies allow companies to understand customer desires, communicate more accurately and obtain more and better quality information about their customers.
It’s not just about making marketing smart, it’s about helping your company get closer to the ideal customer.
As you see, Machine Learning and Artificial Intelligence are rapidly gaining popularity by automatically producing models that analyze complex data with accurate results. Significantly helping companies to increase their competitiveness in an increasingly digitized world.
Thanks to AI and Machine Learning, Zigatta will provide you frameworks, work schemes, monitoring tools, and all the sufficient resources that allow automating operational processes, data analytics and results in less time.