Implementing new technologies inside of an organization can present tough obstacles to climb. Businesses need to be sure that those technologies are worth the investment. In the case of AI-based solutions, they often are. According to Capgemini Consulting, 3 out of 4 businesses that implement AI-based solutions saw both sales and customer satisfaction increase by over 10 percent; 78 percent also saw operational efficiency increase by over 10 percent. What’s behind these numbers? What do AI solutions offer that companies couldn’t do before?
Improved Customer Insights
Marketing insights is an entire industry unto itself. AI can automate analytics and ingest significantly more information than a human could, and can report on those data in real-time. It can describe the value level of a customer, their loyalty to your brand, and who is at risk of churning. AI insight solutions can increase the efficiency of efforts to acquire new customers, maintain existing ones, and even reactivate lost ones.
Better Advertisement Targeting
Marketers today need to be cautious to optimize their efforts; throwing away marketing budget on ineffective, “spray and pray” campaigns is no longer an acceptable strategy for many teams. AI systems can analyze advertisement performance in real-time, and make adjustments to marketing strategy on the fly. AI tells marketers the “where” and “when” of advertisements and whom to target so they can focus all their creative energy on making the content.
Advancements in Natural Language Processing (NLP) have created a branch of products that seek to perfect the autonomous generation of content. NLP is useful for marketers for a lot of reasons already, including parsing customer sentiment about their brand and their competitors, categorizing text based on topic or urgency, etc. But soon, marketers might be relying on one of various services to handle or assist with graphic and web design and text generation.
Customer Support Improvements
Emerging technologies like Google Duplex, an extension of Google Assistant which can place phone calls and book reservations, among other things, have many questioning the future of robocalls and support calls in businesses. Duplex is capable of generating human-sounding voice and responding intelligently to human conversation. With a technology like this in place, businesses could reallocate resources and increase the efficiency of customer support services.
The Bottom Line
AI is an ever-expanding division of computer science. The scope of what is accomplishable autonomously will continue to change as businesses invest more into supporting infrastructure. Marketers are able to accomplish 1:1 interactions with their customers, personalization never seen before on a mass scale. AI capability is becoming a defining feature between companies, and those who resist adoption or can’t keep up with the rate of change might find themselves getting left behind.
Josh Fayer manages Marketing Communications at Zylotech, where he brings an extensive background in public relations and computer science. Josh Loves music! He sings with an a cappella group, Orange Appeal, (whose recent album Unpeeled he shamelessly plugs at work), and at home he loves to mess around with a variety of instruments. Josh enjoys spending quality time with his adorable dog, and exploring around his new home near the South Shore of Boston.
If you liked this post, check out our other blog post on how marketers are using AI to better relate to their customers.