Analytics, AI/ML

Role of AI in Marketing

Cogent Infotech
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Dallas, TX

Role of AI in Marketing

Businesses are on the lookout for new ways to communicate with consumers. Now more than ever, consumers want to interact with companies in more humane methods. Therefore, marketing moves in a new direction and makes automated decisions based on the collected data, customized communication. As a result, A.I. is frequently used in marketing campaigns where optimization is critical.

In this modern age of marketing, artificial intelligence plays a significant role. Companies now have access to information about every need and interest of the potential consumers. A.I. has provided an opportunity to cater to specific needs and desires in a differentiated and personalized manner.

Some of the measures that marketers use to understand their customers better are as follows:

Role of A.I. in Marketing

Marketers no longer have to guess what would appeal to their audience. They have tens of thousands of data points on their target groups to help predict which message would resonate with whom. A few examples of these data points include consumer data, which provides user_ids, timestamps, search history, etc. Timestamp data helps with the peak time of consumer engagement. This data reveals what is working concerning their T.G. Also, it gives you an understanding of how the components of your marketing puzzle fit together.

According to Gartner, the Global Research and Advisory Company, A.I. will replace around 33% of data analysts in marketing by 2022.

Spotify, for example, utilizes A.I. and ML to produce personalized playlists based on what a customer has previously listened to, current hits across genres, and which songs are trending in a particular city. In addition, databases are also used to construct personalized playlists for users and genre playlists based on artists mentioned in conversations, publications, and other sources. This has aided Spotify's rise to prominence as a leading streaming service that places a premium on customer experience through customization, also called Personalization 2.0.

Targeted Marketing

Advertisers now have access to customers' television-watching habits, behavioral patterns, and other intelligent devices such as refrigerators and air-conditioners, in addition to the Internet. This access has also made it possible to conduct targeted marketing campaigns. As a result, we are not very far from when customers will see a different T.V. commercial than others simply because they have different interests.

As soon as any stock runs out, a refrigerator will be able to order products independently. Artificial Intelligence will not only assist advertisers in selling new goods, but it will also assist users in getting all they want in terms of connectivity and products.

For example, Amazon uses predictive analytics to recommend products to customers based on their previous purchases and behaviors, resulting in higher conversions and customer satisfaction. In addition, A.I. and ML are  helping marketing teams monitor attribution more precisely, allowing them to see which campaigns contributed the most to ROI.

Artificial Intelligence

Marketers typically segment their target audiences based on demographics and location. However, assuming that all men of a certain age or living in a specific region would receive the same message because of their demographics is not a smart idea.

Psychographics, rather than demographics or geography, now form the marketing and marketing relations practices of brands. The study of customer personalities, behaviors, views, desires, and lifestyles is known as psychographics. With the availability of big data and artificial intelligence, and machine learning technologies, marketers attempt to interact with you how they would like.

Weber Shandwick found that 68% of CMOs say their company is "planning for business in the A.I. era," with 55% expecting A.I. to have a "greater impact on marketing and communications than social media ever had" in a June 2016 survey. This shift in perception could pave the way for marketing and other industries to embrace A.I.

According to Giesler, the chairman of the marketing division at York University's Schulich School of Business and the director of the Big Design Lab, a shift in the decision-making process necessitates as much change in humans as in technology.

How to Use A.I. for Optimised Marketing

A.I. techniques use data points and find insights concerning the business perspective. But, these techniques are dedicated to general use cases which apply to a limited range of business operations. Hence, the need to optimize the datasets and algorithms for implementing marketing strategies is of utmost necessity. Additionally, the dilemma of using a technique or an algorithm for a particular objective is also crucial for an optimized marketing strategy.

Cogent Infotech can help you with this optimized marketing strategy by using different facets of A.I. marketing, including Audience Intelligence, Media Monitoring, Customer Attribution, and many more. In addition, the custom A.I. platform of Cogent Infotech and its research experts can assist you with the most profitable strategy.

Also, the custom A.I.s feature a range of optional parameters for specific business cases. These work better than off-the-shelf models as they come with higher accuracy and can create actionable outcomes. Book a consultation session with Cogent Infotech for more information.

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