According to research conducted by Gartner, approximately 30% of companies globally will be using Artificial Intelligence (AI) in at least one core marketing process by 2020. What is your plan to leverage AI to gain a competitive advantage? In this article, we will share five applications for your consideration.
1. Chatbots: Chatbots are an effective method to engage and communicate with buyers. For example, you can have a chatbot operate within your website or even build one to run directly on many social media platforms. Several companies have opted to use chatbots to help field frequent customer inquiries or offer realtime replies 24x7x365. Ready to dive in? Take a peek at the following chatbot tools: Watson Assistant, Bold360, Rulai, and LivePerson
2. Analytical Insights: Instead of parsing through Google Analytics for hours to come up with actionable marketing intelligence, what if you could create a report in a matter of minutes? Breakthroughs in data science has allowed marketers to highlight the most important trends and improvement opportunities - all while saving time and money. Take a peek at Paveai or DashThis for reporting options.
3. Ad Optimization: When it comes to repetitive and mundane tasks, it's no surprise that machines can do a much better job than humans. Machine learning algorithms make it possible to optimize your digital advertising to achieve greater engagement, conversion, and acquisition. There's no doubt that you'll still need a human touch when coming up with the concept and creative assets, but an AI-powered campaign will give you an extra boost that drives conversions. Take a peek at AdEspresso, refuel4, or zalster before launching your next campaign.
4. Dynamic Pricing: What if you could set your product price based on demand? First buyer discounts? Inventory-based pricing? Unique customer profiles? Dynamic pricing can be configured within an online store to help maximize sales or recover lost revenue. Take a peek at the following tools for your predictive pricing needs: Wiser or PerfectPrice.
Are you ready to leverage AI as a competitive advantage at your organization? We hope the ideas and resources shared above spark ideas on how to incorporate intelligence into your growth plan. To discuss AI technologies as a strategic competitive advantage, schedule a conversation.
