Did you know 66% of the marketing leaders believe that in 2020, AI is critical for their marketing success? Implementing AI for marketing is likely to increase by 257% in the next two years. Hence professionals who can deploy AI in marketing decisions will be highly in demand for all businesses.
Marketers need to continuously have insights of customer behaviour. They have to be aware of their audience, they need to understand the customer personas , customer behaviour and customer journey which will help them position their products and services accordingly. The evolution of new age technologies has made it possible for marketers to build a very clear picture of their target audience. Thanks to the power of AI, personalized marketing-at-scale has become present day reality. AI-powered marketing has been gaining attention because of the insights that it provides based on the data that is available.
Thanks to continuous development in the fields of Machine Learning and Deep Learning, there is a humongous amount of consumer data that can be leveraged by marketers to provide a personalized marketing experience to their customers.
AI-Powered Marketing in the time of COVID-19
The unprecedented outbreak of COVID-19 has extensively altered the business landscape. While many changes in business are fundamental in nature, and are expected to remain in the ‘new normal’ even after the world overcomes the pandemic. Marketing, being an extremely critical area for businesses, will also be disrupted by these changes. There are three major areas that will impact marketing like never before.
- Extreme automation
- Consumers going digital
- Decisions that are data-driven
The technology adoption is going to be much faster in the current scenario. This makes it the ideal time for business and professionals to fast track their learning towards AI-Powered Marketing.
Let’s understand AI-Powered Marketing
AI is extremely useful for businesses and especially for marketers as huge budgets are being allocated for customer acquisition. AI can help process large data in fractions of seconds. It helps in analyzing and processing data of customers and understanding their behaviour which results in targeted communication. In simple words, AI makes personalized marketing today’s reality. The key areas of AI-Powered Marketing include:
- Maximizing marketing yield: With the continuous development in the disruptive technologies, AI-powered marketing can greatly maximize the marketing yield by increasing the revenue. AI powered marketing is becoming the prime choice of marketers as it helps them save their precious time by using the available resources effectively.
- Customer engagement: Every marketer wants to engage their customers with precision by providing them with what they want. This requires segmentation of the audience through various campaigns which could be time taking. Here AI-powered marketing comes to rescue as it helps in the creation and upgradation of precise segments on the basis of a campaign’s performance.
- Superior customer insights: Today, there is an explosion in the availability of consumer data which can be leveraged to gain insights into their behaviour. This will help marketers enhance the customer experience at a very personalised level. These customer insights can be used to understand customers’ behaviour for potential upselling or cross-selling and allow the marketers to create hyper-personalized campaigns for them.
It is critical for decision makers to understand and use the power of AI effectively while making decisions on different aspects of Marketing. Today, brands like Alibaba and Netflix are using the power of AI ,for precise customer engagement and customer delight. While Alibaba generated 20% higher conversion through the use of personalized landing pages with recommendation engines on Singles’ Day, Netflix uses AI to curate recommendations to keep users engaged and also retain or renew their subscription.
Building a career in AI-Powered marketing
The future of marketing is powered by AI, this has created massive employment opportunities across the globe. Major brands like Alibaba, Netflix, Amazon, Facebook and Google are leading the way to provide their customers ,personalized services. While there is a huge demand for professionals who have the required expertise, the shortage of the AI skilled workforce is creating a demand-supply gap. This is the right time to build the expertise , if you aspire to be a part of this new age AI Powered marketing.
Also read: Top 3 technology trends for engineering jobs amid COVID-19 crisis https://www.nationalskillsnetwork.in/top-3-technology-trends-for-engineering-jobs-amid-covid-19-crisis/
A person should be able to use AI to influence, guide or take marketing decisions related to product positioning, competition analysis, and customer sentiment analysis to enhance marketing yield and customer experience to be able to build a career in this domain. Being a digital marketer is not enough , you need the power of AI. Many institutes are offering courses specially designed for professionals who want to build a career in AI power marketing. Those who are eager can enroll to upskill themselves and be ready for industry requirements.
AI is going to change the way businesses used to be. With the rapid adoption of technology in the new normal, AI is going to impact both the businesses and professionals of the future.
Author: Purvi Shah | Talent Sprint | For more information, please visit https://www.talentsprint.com/