3 Ways AI Will Reshape The Way You Do Marketing In 2021
Who can deny the usefulness of artificial intelligence in today's world? While every business is struggling to survive during the Coronavirus pandemic. It has witnessed that organizations and experts are considering AI a major solution that can transform various verticals of business & market.
AI's global market share is expected to reach up to 390.9 billion by the year 2025. This global market includes dissimilar industries including healthcare, supply chain, IT, social media, and more.
According to me, AI is the wave of change that will sweep away all the deficiencies of the current business system and bring in new tactics for doing everything. Though how this technology will shape the future of marketing and sales is a major aspect of astonishment.
Did you hear AI in marketing?
Yes! It is what I am talking about in this write-up. Recently, while gauging its potential for different business aspects, I realized how this technology could reinvent marketing. Let's understand more about it.
How is Artificial Intelligence significant in current marketing?
Amid global crisis due to COVID19, Digital Advertising and marketing has reached $322.5 billion in 2020. By the end of 2027, this share is expected to grow with 10.3% CAGR, almost a revised size of $640.2 billion.
However, the onset of crisis and pandemic implication, the growth rate is readjusted to 9% CAGR for the upcoming 7 years. Indeed, this is a great downfall in the market size of digital advertising and marketing.
Thus, it makes sense to invent the more better ways of digital marketing and advertising to bring the most out of this market space.
Do you know that digital marketing and advertising is the major driving factor behind the sales and revenue generation of almost every business, no matter small or mid? Yes, It is. Thus, it is essential to growing the potential of digital marketing & advertising. So, here comes the use of marketing artificial intelligence.
Artificial intelligence marketing is a term that defines the use of AI tactics for doing digital marketing and advertising. For years, experts have been engaged in crafting AI-enabled solutions for marketing that help in insight gathering, trend analysis, and customers' response.
Though the expansion of marketing AI is expected and promising, different ways have been outlined and tested that will emerge significantly in 2021, when the business world will be healing from the effect of coronavirus pandemic.
Integrating AI within your marketing can help you tremendously increase target audience engagement. Though, you need to Hire Python Developers deft in implementing machine learning and AI algorithms to acquire the best marketing AI solution.
So, take a glance of marketing artificial intelligence in 2021.
How will AI transform digital advertising and marketing in 2021?
As I suggested above, marketing artificial intelligence is a matter of interest among organizations, and there is no dearth of debates and philosophies. Though 2021 will be the most critical year for its expansion and growth. Here are the ways marketing AI will transform the way of marketing 2021.
Curious to know how PPC will be transformed with AI?
PPC is the major digital advertising and marketing tactic, and interference of artificial intelligence can polish it for better. Amazon, Netflix, and Google are engaged in infusing AI everywhere. In 2021, you will see that Google will bring in more marketing artificial intelligence.
In 2021, you may see Smart Bidding in Google Ads, which is a machine learning driven system that will devise bidding strategies by doing an in-depth analysis of humongous data sets. For marketers, it will be a great opportunity to establish better bidding understanding, as Google considers several aspects and signals to gain an in-depth understanding of the target audience and ways to convert them.
AI driven campaigns will be another astonishment for marketers, as Google's AI will have a complete hand on marketing campaigns. If you fancy the idea of a robot handling your digital marketing and advertising campaign, then Smart Display Campaign may be a good try for you.
As per experts, PPC will be more value-driven and less manually operated with the flourishing marketing AI. Besides, PPC analysts will be able to spend more time on strategy development while AI driven PPC tools will augment revenue generation capacities of marketing efforts.
For marketers, it will be a great opportunity to leverage machine learning-based systems to gain insight into audience interests and needs. In short, soon, PPC systems will be aligned with the purchasing behavior.
Integrated Artificial intelligence in the PPC system will also eradicate cognitive bias to beat competitors. From keyword analysis to campaign scheduling, this tool can inline PPC processes and ignite ease.
AI-enabled Conversion Rate Optimization
Don't you want to improve your organization's sales by driving the conversion rate? As per Salesforce, Artificial intelligence is a major sales-driving technology that enables conversion rate optimization.
Whether you want to acquire more conversion from your landing page or CTA, it removes major roadblocks such as time to run A/B testing and makes optimization handy. While areas of digital advertising & marketing are overlapping all the time, marketing AI tools provide a unified view of conversion optimization to incur the best outcome of the avenue.
A/B testing is a primitive method of conversion rate optimization, while marketing AI platforms enhance it and perform tasks without human intervention. It does things that no human can do when it comes to a decision making for landing page result orientation.
Trained machine learning models examine different ways to apply methods to convert visitors across different landing pages, and strives to reduce the bouncing rate. Smart Traffic is an AI-enabled optimization solution infused with contextual bandit algorithms, which learn the behavior of visitors on your landing page on the basis of different parameters such as device, location, timezone, browser and more.
By collaborating with martech AI solutions, Smart Traffic offers two major things: One, display results to customers (no need to turn it on), another; it keeps on learning and adapting changes during campaigns such as traffic source, and more.
So, don't you think optimizing your campaigns for better conversation through artificial intelligence and machine learning will be more optimal & revenue-driving?
Marketing AI Tool being used by marketers for conversion rate optimization are:
Uberflip: It enables marketers to predict customer behavior, personalize, and convert more swiftly. Moreover, marketers can create a one-to-one experience to cater the required information to users.
Node: This AI-powered tool allows lead identification for conversion, streamline growth, and offer insights over companies most likely to convert into higher paid customers.
Shoelace: This AI-based application displays the right ads to the right customer and creates brand equity by enhancing marketing from the bottom line.
Keatext: It is an AI-powered marketing platform that uses text analytics to interpret feedback and aid in enhancing content offering for better conversion.
AI-augmented Marketing Chatbot
As per a report, 44% consumers use chatbots to make purchases with 75% messaging business. Moreover, 85% of customers' interactions will be automated by the end of 2020.
Moreover, Servion prediction outlined that 95% customer interaction will be driven through AI. In short, AI chatbots will be a major part of the marketing landscape. Infused with NLP, AI chatbots cater a platform for conversational marketing that provides personalized customer experience with the desired convenience.
Chatbots are AI assistance that provides a platform where anyone can put their queries and doubts (especially customers), while AI incurs relevant bits of data and helps in detecting insight. It imitates human conversation and feels like conversing with humans.
Customer chatbots are being infused in several industries including retail, ECommerce, Online Payments, Banking, and more As Juniper Research outlined that retail will be saving $11.5 billion by 2023, and gather $112 billion revenue. While other industries will also glean positive results.
Clearly, the use of chatbots will increase in 2021 for marketing and advertising. If you are thinking about infusing chatbot into your business website for better customer services, you need to consult a chatbot development company that can craft a dedicated NLP and machine learning based system specifically suited to your customer needs.
Here are some Chatbot marketing tools currently helping businesses to understand needs:
- Aivo: It is one of the best chatbots that boost customer service APIs through AI and ML algorithms. Real-time text and voice support are major features of this chatbot. Moreover, its Agentbot is able to comprehend all the codes and nuances of different channels for offering better personalized experience.
- Botsify: Through human-like conversation experience, it offers a 30% increase in revenue generation and reduces operational cost up to 80%. Moreover, it allows you to pair your website with Facebook for more optimal results.
- Chatfuel: This platform is beyond other types of chatbots, as it takes marketing AI to social media platforms and caters automated support for cost reduction and sales upsurge. Its user-friendly interface allows marketers to customize bot and include conversational rules.
- MobileMonkey: It is another Facebook Messenger bot most appreciated and loved by marketers that cater chat blasts with notifications, promos, and updates in FB messenger, enable click-to-Messenger Facebook Ads for follow-ups and instant lead generation. Besides, it also makes promotions easy by quizzes, contests with post autoresponders.
Marketing artificial intelligence will grow more exponentially in 2021 as not it will help in engaging target audiences but will also improve marketing efforts. Apart from these, there are many other ways AI can improve marketing in many ways, such as content curation, Artificial narrow intelligence, and more.
In 2021, you will find AI marketing the biggest sales-driving factor that will take your marketing efforts top of the world and help you grow even in the crisis.
Investing in AI marketing can bring your business huge benefits. So if you are thinking about embracing marketing AI in 2021, don't hesitate and Hire Tensorflow Developers who can leverage AI and ML algorithms as per your business marketing needs.