How AI is improving ROI with data-driven decisions
Imagine a world where your marketing efforts are not just efficient, but supercharged, targeting the perfect audience at the most opportune moment. This is the transformative power of Artificial Intelligence (AI) in the new era of digital marketing, with AI technology enabling marketers to efficiently make data driven decisions that drive ROI.
Data from UBS Global Wealth Management suggest that the AI market will experience a compound annual growth rate of 20% and reach $90 billion by 2025.
Curious to know how you can leverage AI to revolutionise your marketing strategy? Keep scrolling through to find out more!
Why you should care: the impact of AI on marketing ROI
If you're still on the fence about AI, consider this: enterprises that utilise AI have reported revenue growth of 3-15% and sales ROI growth of 10-20%. These statistics paint a vivid picture of the transformative power AI holds in the business realm and, in this blog, we'll delve deeper into the relationship between AI and digital marketing.
The evolution of traditional marketing to digital
The era of traditional billboards and radio commercials is long gone. Digital marketing has usurped the throne, offering unparalleled data analytics capabilities and consumer reach. The real paradigm shift? The emergence of AI.
Marketers are constantly on the lookout for ways to better understand consumers. AI's prowess in data analytics has proven to be the perfect way to improve these understandings and use them to inform data-driven strategies. This union has set the stage for a new age of marketing, where precision meets creativity and, as businesses adapt, those who harness this power are set to lead the pack.
AI tools to support your digital marketing efforts
Now, let's dive into the exciting world of AI-powered tools and marketing solutions that are transforming the game for switched-on marketers, just like you.
1. Chatbots: your 24/7 customer service reps
Chatbots have revolutionised customer relations, managing everything from rudimentary queries to complex conversations. HubSpot’s ChatSpot AI is a great example of this. ChatSpot harnesses the power of natural language processing (NLP) to create a unique user experience termed ChatUX. Essentially, ChatSpot interprets natural language prompts, like “build me a report on monthly website visits,” and combines data from HubSpot CRM, ChatGPT, DALL·E 2, and Google Docs to generate a comprehensive response.
Another is Birdeye, which offers features like automated surveys, reputation management, and marketing automation tools such as chatbots. They assist businesses in fostering customer relationships and bolstering their online presence.
Powered by ChatGPT-3, Appy Pie is a no-code platform offering tools like a chatbot builder with pre-built templates and integrations with services like Zoho CRM and Slack. Besides chatbot creation, they provide app marketing, support, and an analytics dashboard to monitor bot performance.
2. Predictive analytics: the crystal ball of marketing
Predictive analytics instruments can forecast consumer behaviour, market fluctuations, and even revenue streams, empowering you to make decisions grounded in future market dynamics. For example, Looker’s BI Platform and Big Data Analytics Software empower businesses to instantly explore and share insights from their data. With capabilities like embedded analytics apps and real-time dashboards, it’s a visually rich tool that provides utility across various organisational sectors.
Another tool is Improvado, a revenue data platform that consolidates real-time marketing data from over 500 sources, offering insights on lead behaviour and enabling data-driven predictions, all while enhancing marketing outcomes with its Professional Services.
Similarly, Domo provides executives with a platform to consolidate data from various sources, enabling app-driven workflows, real-time dashboards for event analysis, and company-wide business intelligence, specifically tailored for executive insights rather than marketing data.
3. Content generation: AI as your personal copywriting assistant
Generative AI utilities can help build a foundation for quality content in a matter of minutes, driving efficiency and allowing your creative team to concentrate on more strategic and high-level operations. Some of our favourite tools include:
4. Automated social media management: posting while you sleep
Why bother with manual scheduling when AI can handle it effortlessly? Automated social media utilities scrutinise peak interaction intervals and post accordingly, amplifying your digital footprint. Examples include:
The ethical side of artificial intelligence in marketing
AI has become a game-changer in marketing, offering unparalleled insights and automation. However, its rapid integration brings forth pressing ethical concerns. From potential biases in AI algorithms to concerns about misinformation and privacy, there's a lot to consider. For instance, if AI unintentionally perpetuates stereotypes due to biased data, it can lead to insensitive content.
Moreover, as AI delves deeper into defining digital marketing strategies, questions arise about intellectual property rights. Recognising these challenges, many brands are setting internal guidelines, defining AI's role, and emphasising transparency. It's clear that while AI offers immense potential, it's crucial to navigate its use responsibly and ethically.
Final thoughts
The transformative potential of artificial intelligence-informed digital marketing is clear, with the technology already reshaping how brands interact with their audiences and offering insights like never before. It's not just about adopting the latest tech trend; it's about harnessing AI's power to drive real results. For those looking to integrate AI into their marketing strategies, the journey begins with clear objectives, understanding the technology's nuances, and seeking the right expertise.
If you're keen to navigate the AI marketing strategy landscape with confidence, ALYKA is here to guide you. With a data-driven approach and a passion for digital excellence, we work to keep your brand ahead of the game.
Ready to embark on your AI marketing journey? Reach out to us and we’ll get the ball rolling.