3 key areas where marketers are leveraging #AI today.
The hardest thing that people are trying to wrap their heads around is being able to imagine ways in which AI can be applied and customized for their business. Hollywood isn't helping.
However once you speak to people on the ground like marketers and demystify what AI can do, it opens up a whole new dimension around understanding consumers and increasing relevancy in messaging.
Here are three key areas where marketers are leveraging AI today.
It’s no secret that personalized messages drive higher conversion rates than those aimed at a broader audience. When MailChimp measured stats “across all segmented campaigns,” segmented campaigns performed better than non-segmented counterparts.
Email opens were 14% higher than with non-segmented campaigns, unique opens were 10% higher, and clicks 100.95% higher. Meanwhile, bounces, abuse reports and unsubscribes were all lower.
Basically, this is personalizing marketing through analytics sitting on top a campaign. It allows for top-down segments to develop and be enriched with bottom-up data-informed signals, making creative execution more relevant.
While behavioral-based targeting and expected returns has been a widely researched and published domain for well over a decade, it has surprisingly low penetration in its adoption within marketing operations in Fortune 100 companies.
Propensity, or predictive, modeling helps marketers identify the propensity that their customer will do something. This could be buying a related product or service. It could also be identifying if the consumer who purchased something in one product category will buy another item from another category.
We can add a level of scoring to actions which increases the data sets (why you need the AI) but allows for much richer actions.
Specifically, “[W]e can then determine the next best action to point our consumers towards. These models quickly become the core of any AI program in marketing departments,” Soni said.
Big data analytics
Massive amounts of signal data — the more the better. Think location beacons, social media messages and audio and listening data. AI and machine learning enable companies to derive actionable insights from large data sets.