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automation as a part of this revolution. Understanding customer behavior, identifying shopping patterns, predicting demands, devising recommendations, etc., are just some of the backend marketing operations that AI and automation can orchestrate today. These trends and insights point to a tech-led marketing universe that is extremely data-and-resource-driven, puts customers first, and organizes result-oriented campaigns. These aspects also allow smaller companies to compete with bigger brands. Let’s now take a detailed look at the 9 ways AI and automation are transforming marketing and the 5 key trends for the same that you can expect in 2023.
[Finances Online]» 8 Ways AI and Automation will Change the Marketing Industry in 2023
Technology aids innovation, and innovation leads to transformation. The marketing industry has been deeply impacted by AI and automation technology.It is experiencing drastic paradigm shifts in processes, workflows, touchpoints, and data synthesis. There are 8 critical ways in which AI and automation are set to impact the marketing industry in 2023.[WordStream]1. Learning Consumer Behaviour
Consumer behavior is the most important aspect of marketing today.Businesses need cognizance of what consumers say about their brand's products/services to optimize the usage of resources and devise highly targeted marketing campaigns.Since consumer data is more complicated than that, the raw data is fed into AI-driven data analysis engines for detailed processing.Businesses can then thus understand the trends, identify patterns and predict demands with reasonable accuracy by studying what their target audience is searching for, viewing, or purchasing online.2. Personalization
The pandemic taught consumers of the world a new, convenient way to shop and interact with brands. The digital world has altered how consumers perceive their shopping experiences, and personalization plays a large part in it.A study by McKinsey revealed that un-personalized experiences with a brand leave 70% of the visiting customers frustrated.This is where AI is drastically changing the marketing landscape in conjunction with marketing automation.Intelligent algorithms identify the kind of content and brand experience required by different cohorts and target customer groups. They tailor the journey, thereby increasing consumer engagement, retention, and satisfaction with the brand.3. Improved PPC Marketing
PPC, or Pay-per-Click, is an advertising model where businesses “purchase” advertisement real estate on online channels by paying the publisher for each click the ad gets on that channel.SourcePPC advertising is a game of timing, pricing, and precision. Automating the PPC bidding process in marketing operations has revolutionized this mode of generating more leads for a business. It is one of the popular marketing automation trends that will continue to make an impact in 2023.AI-enabled automation tools govern the PPC bidding process based on target audience activity and display the relevant content designed for this purpose.4. Trend Predictions
Data is available in abundance today, and it holds the key to predicting the future needs and product demands of consumers.For example, the rise in digital space has led to an increase in the demand for SaaS products for businesses.With AI, it is possible to predict such trend-governed product demands by analyzing Big Data and setting the product development process in motion ahead of time.One excellent example of marketing based on trend-directed product needs was displayed by Apple.With rising digitality around the world, consumer privacy had become questionable. Leveraging this sentiment, Apple was able to predict the need for privacy – it marketed all its consumer electronics to reflect just that.5. Customer Experience Design
When consumers interact with your brand online, they leave behind a rich data trail that has a high potential of delivering keyinsights on how they wish to interact with your brand. Gathering customer data for creating brand-specific, immersive journeys has become easier with the use of AI-powered technologies, like chatbots. The collection of information from this data trail is made possible in real-time with artificially intelligent automation technologies. These applications collect the data, clean it up, structure it and store it in data warehouses until it is called upon for analytics. Insights derived from this enriched data then assist businesses in creating exceptional customer experiences with the brand.
6. Advertising
Advertising is more than just PPC or sending out flyers about a new product or service. It is a complex science involving audience assessment, lead qualification, and ad publishing.Coupling advertisement services like Google or Amazon with artificial intelligence helps businesses to segregate brand audiences into cohorts, enabling better lead qualification and audience assessment.This enables the AI engine to attach attributes like browsing time, type and duration of interaction, preferred touchpoints, search terms, and buying intent to each cohort, giving the business a clearer picture of its audience.This information is instrumental in strategizing highly effective marketing strategies.7. Public Relations
The way brands manage public relations today has changed significantly. It isn't limited to print media any longer-brands are leveraging social media for PR as well.Online platforms have allowed public relations opportunities to mushroom for brands that are searching for innovative ways to get their products and services out into the mainstream.Think influencer marketing. It is a form of PR activity; just not traditional. So, how does AI fit in? This novel technology can help with audience search and outreach.AI engines are now adept at matching a brand’s products with PR channels that have fostered and cultivated a wide audience for specific products or services.This isn’t limited to influencers or online forums, but social media channels with audiences that share the same vision and ethos as the brand as well.8. Content Marketing
AI is helping businesses design content that resonates with their brand. It works to solidify the brand's authority in its field.The epitome is the online content platform, BuzzFeed, which leverages AI-powered technologies to-
- Identify which keywords suit which type of content
- Categorizing content
- Personalizing customer feeds
- Virality prediction of topics
- User preferences
- Trend identification and trending topics