AI is Reshaping the Digital Marketing Industry - Myth or True?
Business is becoming more technological and digital than ever before. Nearly everything can be handled online and more and more companies are becoming digital. Be sure to check out DMI if you want to learn more about digital transformations and the benefits it can provide to businesses.
But in addition to digital transformations, another thing that is taking the business world by storm is artificial intelligence (AI). It has various different uses for companies in nearly every industry under the sun.
But what about digital marketing? Has AI really had a major hand in reshaping digital marketing, or is that simply a myth? Well, in simple terms, it is the truth. AI has played a significant role in the evolution of digital marketing.
But just how has AI reshaped the digital marketing space and what kinds of innovations has led to? Well, that is exactly what this article is going to look at. Keep reading to learn about a few of the ways that AI is changing marketing as we know it.
The Growing Prevalence of Chatbots
One of the biggest contributing factors to how crucial AI has been to digital marketing is because of chatbots. Chatbots are used by companies to provide human-like conversation and assistance to customers. They allow a business to have solid customer service, without having to pay for and employ a large staff.
As you likely know, strong customer service is one of the best marketing tools out there. If people have a great experience with your brand, they are likely to tell others about it.
These chatbots can function on websites, respond to emails, and even work in messaging apps. Chatbots use artificial intelligence to learn customer intent and can provide quick answers to a variety of simple questions.
They are also very convenient, and can help people with their concerns immediately, as opposed to having to wait for a human to be able to help. While chatbots are already good and can mimic human communication well, they are still only in their relative infancy, so expect them to become even better and more useful in the coming years.
The Use of Prediction
Using analytics to help make predictions is another way that artificial intelligence is helping marketing departments across the world. Advertisements are a critical part of many marketing strategies, and AI has helped streamline efforts through the use of prediction.
AI, using everything from trends, to preferences, to data, can help to predict what types of ads and content will perform the best for you. AI lets people hyper-focus their marketing efforts on their target, and not waste a ton of money or effort targeting those who will never become customers.
In addition to predictive ad content, prediction is also great for recommending products a certain individual may like based on past behavior and trends.
Another way that AI has changed digital marketing for products and services is making dynamic pricing possible. Artificial intelligence tools and platforms can recommend price changes on products by automatically evaluating a large collection of data. This can make your business more competitive, as pricing is a major aspect of marketing.
You can change up the price based on demand, to get more sales, or even if you need to match or beat the price set by your competition. AI can help you decide the right price to choose, and also when it should be implemented.
In conclusion, it is true that AI is reshaping the digital marketing industry and this will continue to occur. We hope the information included in this blog post has been able to show you just how it is changing the space.