Posted on : 2023-06-09 03:51:04
Article : Good evening, Friday management TASK 245- Time is money and it’s better to spend it on higher-value activities than things, which can be automated thanks to Artificial Intelligence.
Brand, and retail marketers know that understanding their customers is key to creating successful campaigns. with development of AI, they will be able to take that understanding to a whole new level.
In fact, a recent study by Adobe found that top-performing companies are more than twice as likely as others to use AI for marketing, and 31% of marketers say AI is most helpful in understanding the customer. AI algorithms can analyse vast amounts of data to provide insights, predict customer behaviour, and assist in creating more relevant and targeted marketing campaigns. This results in improved efficiency and effectiveness, and ultimately, more successful marketing strategies.
AI is a machine that can learn and make decisions. In the marketing world, AI is used to automate tasks and make decisions. This helps marketers save time by automating repetitive tasks like data entry or emailing customers who have abandoned their shopping carts (a process known as cart recovery).
AI is also used for predictive analytics which is the ability to predict future outcomes based on historical data. For example, if companies are using an AI-powered CRM platform like HubSpot Sales or Salesforce Einstein Analytics, they use machine learning algorithms to predict which leads are most likely to convert into customers based on past behaviour of similar leads at other companies within the industry verticals.
Chatbots are becoming increasingly popular in the marketing world because they are very easy to implement. They allow to automate repetitive tasks such as answering questions or sending out newsletters with little effort on one’s part.
There are many ways in which technology may help with sales and customer challenges. Just to name a few:
• AI-powered solutions can improve FMCG sales forecasting and targeting,
• sales performance can be increased thanks to automating simple tasks,
• the average cart value can be increased by applying personal recommendations in the newsletters.
A good example of how operations can be optimized with the help of AI is the use case of a recommendation system suggesting salespeople which customers they should target and how to do it right. With such a solution, they can reach the right customer with accurate, personalized offers and all this at the exact time the customer needs it. No need to say that it impacts sales conversion. According to Bloomreach, up to 80% of shoppers are more likely to buy from a company that offers personalized experiences.
While this is all about introduction on present technology (AI) helpful assistance in all sectors of industry, we request you to share your experiences on utility of AI in your domain industry as a case study which would guide more executives, entrepreneurs. In our good morning, Management solution part we will discuss few brand marketers examples on 12th June 2023.
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