How to leverage AI to generate more effective and efficient marketing? To learn more about the impact of AI on marketing and advertising, I spoke with Ryan Coyne, CEO of Starboard, a digital marketing and advertising company.
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How AI is changing marketing
Consumer understanding. Coyne suggests that AI is changing marketing in several ways. One is that it now contributes to a better understanding of consumers by integrating and aggregating large amounts of consumer information. As an example, imagine a sales representative or customer service agent who not only knows every detail about this product, but also knows every question ever asked about it and what the right answer is. Now imagine there are an infinite number of these salespeople or support agents. The impact on sales and customer support will not only manifest itself in the replacement of millions of jobs, but will also create a more immediate and personalized experience for the customer.
Personalized messaging. Coyne also suggests that “AI not only helps sellers understand consumer needs and behavior, but it can also use this information to target individuals with personalized advertisements. For most consumers, it’s common to receive emails, messages, and pop-ups with product recommendations. However, AI takes it to the next level by creating ads tailored to specific individuals or groups, improving the chances that they will purchase your product or service. » For example, imagine you have a Labradoodle and you are a customer at PetSmart. In the new world, PetSmart will have the ability to contact you via text and have a personalized conversation about your dog by name – then convert you into an online customer by reminding you that your dog needs a specific product and by sharing stories of how other Labradoodles in town are succeeding with the same products.
Predict future trends. Beyond generating consumer insights, Coyne suggests that AI will be able to identify, capture and predict future trends. By studying and analyzing social media content, AI “can more accurately predict consumer tastes, preferences and needs, as well as how these cues might change in the future.” As a result, AI marketing can help human marketers predict future supply and demand, and also generate strategies for improving products and future campaigns.
Improve customer experience. As Coyne suggests: “AI-powered chatbots can provide personalized and effective customer support, in real time 24/7 through natural language processing, allowing them to understand and respond to queries and requests client. As natural language processing models improve, the tool will help identify the intent of each customer and make it virtually impossible to distinguish between an AI-powered chatbot and a human.
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