By Deepa Krishnan
A persistent buzzword that quickly seeps in jobs and industries, the resounding popularity of artificial intelligence (AI) heralds an exciting era for enthusiasts, marked by extensive experimentation and widespread adoption. In marketing, a notable shift is already underway, as almost all (98%) marketers are harnessing the power of AI in various capacities.
In the context of AI in marketing walk expected to grow from $15.84 billion in 2021 to approximately $107.5 billion by 2028, let’s take a look at the next AI-driven marketing trends that every forward-thinking marketer must adopt in 2024.
Segment-of-one marketing: Improve personalization, exceed customer expectations and accelerate business growth
“The incessant pursuit of mass will make you boring, because mass means average, it means the center of the curve, it requires you to offend no one and please everyone.”
– Seth Godin, It’s Marketing: You Can’t Be Seen Until You Learn to See
Instrumental in meeting growing consumer demand for personalized interactions, this year’s focus is on AI tools that are emerging as essential elements for improved engagement and retention. By overcoming the limitations of traditional tools, which often resulted in high personalization costs or lacked access to comprehensive consumer data, marketers are now able to leverage AI to effectively analyze vast datasets, enabling personalization at scale and in real time. Using vast data sets, AI is emerging as every modern marketer’s trusted collaborator to uncover deep insights – both quantitative and qualitative – about each consumer; understand their feelings; and engage each of them through unique but relevant touchpoints, including personalized campaigns, content, recommendations and promotions they are looking for.
But that’s not all. Notably, marketers are experiencing positive ROI from personalized campaigns, and those who excel at personalization generate 40% more revenue than their counterparts, highlighting that this trend will not only be key to meeting, but exceeding consumer expectations in order to generate unprecedented growth. for businesses this year.
Reactive to proactive: predictive analytics for optimized decision-making
” You have the choice life. You can either live on purpose according to a plan you have established, or you can live by accident by reacting to the demands of others. »
–Michael Hyatt
In the post-Covid-19 era of uncertainty, predictive analytics is emerging as the cornerstone of data-driven decision-making. By leveraging AI capabilities, marketers now have comprehensive insight into user behavior, brand mentions, social media, and market trends aggregated from multiple websites, apps, and more sources. This wealth of data signals more than just a technological advance; This denotes a paradigm shift from a reactive to a proactive mindset – where marketers are increasingly empowered to make informed decisions that significantly improve operational efficiency.
This trend is accelerating in the hotel industry industry Additionally, the adoption of AI helps businesses comprehensively analyze historical behaviors, booking patterns, and external factors such as events and holidays, to predict future demand and adjust accordingly. accordingly their real-time pricing strategies to maximize revenue during peak periods and optimize rates during slower periods. periods. Additionally, hoteliers can also be seen leveraging generative AI to identify high-value guests and create targeted marketing campaigns – in order to attract and retain valuable guests. As more businesses adopt and adopt the predictive capabilities of AI, forward-thinking marketers can gain a competitive advantage by leveraging the predictive power of AI to craft strategies that resonate with the dynamic pulse of the market for all the months to come.
Unleash Creativity and Drive Impact: Harnessing the Power of AI-Generated Content
“Artificial intelligence is the future and the future is here”
-Dave Waters
While content remains king, marketers are getting creative in their use of AI tools – streamlining and adapting their content strategies to pique consumers’ curiosity and connect with them in refreshing ways. While NLP tools are used to refine the result with feedback, recommendations and insights on aspects such as writing style, tone, readability, grammar and SEO; Generative AI is leveraged to generate marketing content that resonates with their target audience – and therefore much more likely to optimize engagement and conversions. Going beyond traditional methods of using AI, several marketers are experimenting with tools such as augmented reality and virtual reality in conjunction with AI to deliver a unique and engaging marketing experience, while ensuring personalized offers based on their individual preferences and needs.
In the hospitality industry, we can see hoteliers experimenting with, for example, AR content featuring virtual tours or offering augmented hotel environments – allowing guests to explore the surrounding area before or after making a reservation and encouraging them to spend more time to commit. the hotel’s website.
The author is responsible for marketing, India and Southwest Asia at Hyatt
