We get it: Implementing new technology is hard for any organization. You’ve probably read about AI in the news. You know the big tech companies are using it, but you’re not sure if it’s right for you. Capgemini reports that 3 out of 4 businesses who have implemented AI/ML solutions increased sales by over 10%. 78% of these companies increased operational efficiency by over 10%, and 75% enhanced customer satisfaction by over 10%. The numbers are impressive, but they beg the question: How? What did AI do for these organizations that they were unable to do before?
Better Customer Support
Technology has already made great strides in the customer relations space. Whether you want to order a pizza, buy a dress, or book a trip, you don’t need to wait to speak with a human to do so. AI bots can do the same for customer care. Imagine if a bot could settle a third of all the support calls a company received. This would wildly reduce hold times and improve customer satisfaction. Plus, bots are programmed to be quicker and more accurate than a human ever could.
AI systems can test a variety of messages on different platforms and determine the best, and most economical, way for a company to advertise. Albert, an autonomous media buying AI, makes “buying decisions based on widespread multivariate testing of audiences, bids, keywords, targeting, domains and placements to understand what’s working and what’s not, and what has the greatest potential to reach the goal(s) of the campaign.” AI tells marketers where to place ads, and who to target, so they can focus on the content being delivered.
As AI gets smarter, and better at natural-language, the possibility of AI-generated marketing content is not very far off. Take, for example, Narrative Science, a startup that “generates news stories, industry reports, headlines and more–at scale and without human authoring or editing.” It’s product, Quill, can already create basic, data backed, stories like sports game recaps, and business reports, and can even be directed to write in a specific tone.
Your customer data, if used properly, has the power to unlock a variety of insights. AI can analyze the information you already possess and deliver deep insights on each individual customer. It can tell you who is high-value, low value, loyal to your brand, and who is at risk of churning. It can identify you the offer that a customer is most likely to respond to and can suggest what channel to provide it through. It can even provide ways to re-activate lost customers.
AI is revolutionizing marketing in a way that marketers would have never dreamed possible. It is allowing businesses to interact with their customers on a 1:1 basis. To deliver them the right content and offers they want, through the channels they want them through. The time has come to get on board, or risk being left behind.