Artificial intelligence has always relied on big data to make prediction and improve results from it. It analyzes big data to get better output and has been transforming internet marketing over period. It has helped brands over time to provide valuable insights which helped them to serve their customers better.
Internet marketing has been the key to any company in promoting their products and services. With the advent of AI this has been easier as the insights and patterns from the data has helped marketers to make better internet marketing strategies.
These strategies has been a game changer in today’s world where upgradation and relevancy is the key. If you take example of very famous game Pokémon Go to Alexa, from VR devices to self-driven cars. All are great examples of how artificial intelligence has been the key to reshape how products are procured and promoted.
With the rise in technology a mix of AR, VR and MR has been widely adopted by companies all over the world. They are using these technologies to make something new, something out of the box to woo the customer. Customers like the experience of personalization, getting products and services which are of their interests. AI has been successful in doing this.
Let’s understand more by going through the blog. This blog will help us understand the practical implications of AI in internet marketing.
What is Internet Marketing?
Internet marketing has been the most widely used method to promote products and services by big brands. This involves using electronic media like: desktop, mobile phone, social media to promote a product or service. The objective is to increase brand awareness, drive more sales through websites or emails. Internet marketing has been the mix of several marketing strategies which a company deploys to drive better results.
For example, XYZ Ltd. wants to open a business of garments. They decided they will get a website developed which will be an e-commerce website.
Promote their products through social media platforms. Send emails to each and every customer who buys their product for a possible up sell and cross sell (https://blog.hubspot.com/service/cross-selling). Doing influencer marketing to target relevant audience, sending money on paid ads and promotions. Increasing their ROI and adopting marketing strategies that gives the company best results by analyzing data and metrics.
This can be the perfect example of a company trying to sell their products and deploying some of the online marketing strategies effectively.
What is meant by Artificial Intelligence?
Artificial Intelligence has gained attention over the years because of the innovation and advancement that is associated with it. It means machines and computers that helps humans in making their day to day tasks easier. How are they able to do that?
Machines and computers are able to learn from the big data that is continuously fed to them. They are able to mimic human actions and solve problems proactively that was not possible earlier.
It is a field of science that is able to create a machine that not only performs tasks. But learn, think, respond and perform activities, just like a human being does it.
Few of the activities that machine learning has been able to do are: robotics, voice recognition, visual or display recognition, language processing, problem solving, etc. Machine learning works on algorithms that learn from past experiences and keep on updating itself. As it become older it is able to perform tasks in a smart manner because of its learning tendency from past data and results.
It has been said that artificial intelligence can surpass human intelligence in future if it continues to grow at current pace. It is the key for many online marketing strategies that will change marketing in the future.
How Artificial intelligence is changing internet marketing?
Brands have successfully applied AI into their marketing strategies because of the better ROI and results. Two such companies that has been able to do this are Amazon and Flipkart. They show products to customers in which they are interested in only. This really increases the chance of sales as consumer needs the product in a quick manner. Consumers are shown product based on their previous purchases and products that are related or frequently bought together based on their current purchases. This has been the key factor for these companies to increase their sales by 60-70%.
Below are few ways how AI is changing internet marketing:
1. Analyze and improvise: AI has been continuously mapping consumer journey from their entry into the website to checkout page. It has been successfully able to gather data that provide accurate insights about consumer, their behavior and their interests. This has been helpful in targeting consumer better, increasing relevancy and chances of putting them in the sales funnel.
For example: Netflix will show you TV shows recommendations based on the previous genres shows that you watched. If you have watched Friends which is a comedy genre TV show. You will get recommendation to watch Big Bang theory, how I met your mother, etc. This has been very helpful for marketers to better analyze their consumers and develop online strategies based on that.
2. Combination of virtual reality marketing with AI: Brands are trying to combine virtual reality experience with artificial intelligence to develop products that are continuously becoming popular among consumers. If you take an example: VR headset, or smart TV. You will realize how easy they have made our life. We are able to see 360 degree images, display our smart phones screen on our television and operate every OTT platform on television itself.
This has greatly enhanced consumer’s experience and attracted them to buy from companies that develop these kind of products. Consumers want something different, they want personalized yet different experience when it comes to entertainment. Marketers are able to provide this because of AI based internet marketing strategies.
AI in internet marketing business
As big data is gaining importance over time and advancing, it has been possible for the marketers to aggregate data and carry out forecasting because big data helps in analyzing the past data and then carry out predictions on the basis of previous performance. Big data has made it possible for marketers to carry out demand forecasting more accurately.
Artificial Intelligence neural networks can create a magic to next step by using unstructured raw data to draw conclusions about the solutions and effects within data. As it has an ability to detect similar patterns, AI can sense the opportunity and automatically act upon them. Moreover, more a neural network goes through this process, the faster and more effective it becomes.
1. Application of AI chatbots:
The creation of AI semantic recognition, language processing and voice conversion technology has meant that AI customer service is user friendly and much more effective. If we compare with manual customer service, AI chatbots have more advantages as AI chatbots enable businesses to go beyond the traditional one person to one-person form. Instead, chatbots can deliver a “one-to-many”, providing support to a number of customers at the same time and in different time zones which makes it more effective and efficient. Moreover, AI chatbots don’t need to take a break, so they can answer customer queries around the clock and in real time. This does not really mean they are highly efficient, but they can also provide support 24*7 and 365 days, thus improving customer experience. Additionally, customers can choose the language used by AI customer service according to their needs and preferences, authorizing a brand to deliver localized customer service. Many brands are communicating through messaging apps like WhatsApp, Facebook Messenger, and Slack, all of which can benefit from AI chatbots in order to streamline the process. This has been actively used as one of the internet marketing strategies.
2. Email marketing
AI helps to send customize mail to potential customers based upon its psychology and areas of interest. AI enables automatic scheduling of an email and it also provides a targeting based on location, language, needs and preferences etc.
3. AI digital advertising:
It has become very easy for the marketers to implement AI based advertisement as it helps in promotion on apps such as Instagram, Pinterest, Facebook, LinkedIn etc. The AI based digital advertising helps to differentiate between demographics, age, culture, language and income groups. Internet marketing has been changing because of AI in advertising.
4. Marketing content:
With the growth of AI it has become easier to publish only that content which helps in increasing engagement with the consumer. Content creation has become all together a professional field through the introduction of AI. (https://blog.atomicreach.com/artificial-intelligence-in-content-marketing)
5. Testing:
AI enables marketers to do hypothesis testing very efficiently as it helps in getting proper results according to the nature of product and it also helps in determining the minor problems.
6. Lead Generation:
AI helps to set certain algorithms which help in generating quality leads so that conversion ratio increases. AI helps in targeting those customers who have a 50% conversion rate and can be long lasting for the business.
Conclusion
AI has made it possible to do marketing in a significant way which was traditionally not possible. Targeting and segmentation has become very efficient, thus Artificial Intelligence is here to begin revolution in the online marketing industry. Internet marketing has been changing because of AI technology.