One of the most crucial stages that have the potential to make or break any business is marketing. Since the importance of a wide customer base holds the prime significance in determining the revenue and success of any organization, marketing is an essential tool. But the fact stands, the procedure requires immense time and intelligence to make a company stand out from the crowd. Sometimes it becomes daunting to devote such time and effort in the process. Since the establishment of AI and Machine Learning, the concept has become only more profound. In fact, according to Salesforce, 3,500 marketing leaders have expressed that one of the most promising technologies with an immense growth prospect in the next 2 years is AI. 64% of B2B marketers consider AI valuable for their sales and marketing strategy. On that note, let us dive into the details of how AI has the potential to revolutionize marketing.
1. Enhancing Customer Experience
Every customer nowadays desires a customized service and a personalized experience. It is a known fact that highly satisfied customers are almost a cent percent likely to return. This is when AI chatbots can prove to be of great use. 71% of B2B marketers have displayed a profound interest in using AI for personalization for improving the overall customer experience. By being efficient, consistent, and relatively inexpensive, these bots can engage the customers in an interactive manner and convey the message that the company is always there to cater to their needs. It can also keep track of the behavior of the customer and provide relevant information. They work 24 x 7 and based on the history of the customers, provide them with valuable information, resolve their queries, thus, building a better business to consumer relationship. In fact, according to a prediction of around 80% of B2B marketing executives, AI has the potential to revolutionize the entire industryby the year 2020.
2. Making Conversations Enjoyable
Let’s face it. The concept of AI, especially in the field of marketing is a new one. The common masses are trying and testing new things all the time. AI chatbot is a relatively new concept that is sure to spark a certain level of curiosity among people. A chatbot is a computer program, a machine learning algorithm with natural language processing (NLP) capabilities. It consists of different layers for collecting and analysing data. So, the truth remains, the customers are going to increase their interaction with your business simply out of sheer curiosity regarding the experience a chatbot can provide. A chatbot is capable of mimicking a real retail store experience as the communication with the customer is direct. As we can already witness, Microsoft’s Cortana, Amazon’s Alexa, Apple’s Siri, and Google’s Assistant have made a mark and are really paying off as far as marketing is concerned. Plus, the conversations are enjoyable as the fact that a human-like behavior arising from a bot is itself fascinating.
3. Efficient in Problem Solving
Do you remember the last time you called a customer service and had to wait for a lifetime till your call was being forwarded to someone in charge? With AI chatbots being used in customer care, they can aid the customers in solving any queries within minutes no matter where they reside. For instance, Erica is a bot created by the Bank of America that could be used across a plethora of platforms, such as Facebook Messenger and SMS text messaging. The AI bot helped customers make pragmatic decisions, based on their spending.The customers don’t have to scroll through a great deal of clutter to find what they are looking for as the bots are at their constant beck and call. No more cold calls, spam emails from various marketing teams, and disruptive advertisements, all thanks to the applications of AI in marketing!
4. Offering 24/7 Customer Support
Conversational updates regarding checking your email, make appointments and reservations can be carried out without even a tinge of flaw. Regardless of how much humans advance, they can never be as good in multitasking as a machine. This is where AI excels. It can aid customers in carrying out tasks at a tremendous pace and with a high efficiency that most humans can’t. AI can facilitate an efficient integration of your digital life in a single place. Nanorepis a tactful combination of NLP and a chatbot for facilitating e-commerce and streamlining various customer services. IKEA, Vodafone and FedEx are a few customers that employ Nanorep for delivering efficient services to customers. Moreover, a chatbot can solve the issues of more than one customer at the same time. After all, it’s high time we said goodbye to call waiting during customer care, right?
5. Great Cost-Cutting Solution
Even though AI cannot completely replace human intervention but it plays a huge role when it comes to cutting costs in an organization. In some cases, a bot can do exactly what a human does, even better! Thus, the need for human labor declines dramatically. As a result, the company can cut the cost of hiring multiple employees for a task that a single bot can carry out with great ease. For instance, companies have employees calling to get customer feedback whereas an AI can complete the task in a better way.
From presenting insightful data to being available throughout the day for customer service, AI definitely holds an edge as far as revolutionizing marketing is concerned. With the advancement of Artificial Intelligence technologies, the world can actually see the change that is about to descend on us. Most people are a tad bit startled by modifications in our regular ways.
Research says 33% of Marketers consider that integrating AI with their present role and workflow is a major hurdle. According to a report, only 13% of B2B marketers are sound with AI knowledge, 55% are confident to some extent, and 33% are not confident at all. But that doesn’t mean change has to be bad, does it? Once marketers see the big picture and realize how chatbots can reshape the entire state of a business, the enormous boost that the marketing sector will witness is going to be worth commending. With an engaging experience and an aim to provide the highest level of customer satisfaction, the AI chatbots are all set to bring about the change humanity has been striving to achieve for decades.