Using AI To Go Beyond Conventional Engagement Strategies
AI has captured the zeitgeist with applications such as Chat GPT and Dall-E in 2023, generating content and creating art. However, the applications of Artificial Intelligence in marketing research and campaigns have been a game changer for the industry. From custom messaging to predicting downturns and enabling pivots in business strategy, AI has taken data analysis to the next level.
So, what is AI in Marketing? AI uses Cognitive Science principles like Perception-reasoning (PRA) and turns it into the Collect-Reason-Act cycle. Using the science of how the mind works, AI collects customer data across channels and then transforms them into valuable insights. AI then acts on this actionable information by sending the customers communication that prompts the user to purchase.
How is AI an invaluable ally across industries
Artificial intelligence is widely used in businesses to aggregate and create algorithms to predict and prompt user behavior. Social media and search engine advertising, ads over email, and e-commerce cart notifications all provide functionality that exemplifies the use of AI in business today.
Fast food chain McDonald's uses AI-powered digital signs to display menu items more likely to sell based on various factors. McDonald's Accelerating the Arches Program doubled down on the 4Ds- Digital, Drive Thru, Delivery, and Development. With its 2019 acquisition of Apprentice (renamed McD Tech Labs), it implemented and tested automated order-taking in 2021 using a voice-based application for multilingual, multi-accent, and multi-item conversational ordering. Automated order-taking boasts an 85% accuracy rating, with 20% of orders requiring human intervention. The chain also uses Dynamic Yield's machine-learning-driven solution to update digital drive-thru menu displays based on time of day, current order selections and restaurant traffic, popularity of menu items, and weather conditions
From dining to digital influencers, AI has been making consistent strides. AI-generated influencers like Shudu-the world's first digital supermodel; Imma, a Japanese virtual influencer, Lu do Magalu, with 6.4 million followers on Instagram; and Miquela, with 2.7 million followers, have worked with brands like Prada, Dior, and Calvin Klein. They prove that AI and simulated interaction can influence young spenders as much as the Kardashians. Paul Roetzer, author of Marketing Artificial Intelligence, emphasizes using AI across an entire gamut of content generation and distribution. Optimizing AI, Letter drop, a content operations platform, helps B2B companies edit and repurpose information faster to create and distribute 30%+ more content to drive inbound leads. With an AI-assisted SEO optimizer, Letterdrop can generate email and social media content from long-form content while offering better insights into what customers want to create appropriate messaging.
Use of AI to build high-impact marketing strategies
AI can be used in public relations and communication, and even fully tapping emotional intelligence and seeking influence through it. RAD AI is a tool with emotional intelligence that delivers authentic influencer content programs. It can analyze large data modules about audiences to create detailed personas and then identify optimal channels for distribution for them. Most importantly, it combines machine learning, natural language processing (NLP), and natural language generation (NLG) to measure authenticity by breaking it down into resonance, behavior, and emotion.
Another application of AI augmenting marketing strategy comes in the form of Revenue Acceleration Programs like Drift. It unites companies with buyers in real-time via chat, video, voice, and email, focusing on the customer lifecycle. Drift's AI-powered Virtual Selling Assistants engage visitors much like humans would, even responding with spontaneity to mimic an organic conversation. VSAs can provide ccurate information and route-target accounts to the right sales rep while deflecting support requests away from sales teams. The Persado AI platform, on the other hand, uses natural language generation, experimental design, and an unbeatable language base of tagged and scored words to deliver an average of 41% lift in conversion rates across customer engagement channels. It has worked with retailers like Marks & Spencer, GAP, Audible, and fintech companies like Vanguar
Future adoption LLMs among top trends
As AI adoption makes inroads across industries, a few trends that will emerge for the next few years will be the adoption of Large Language Models to impact AI-assisted customer service and even multimodal AI- that combines conversational AI and visual models. Google's Multitask Unified Model (MUM) uses AI to improve the search experience through the T5 text-to-text framework, where search results are based on contextual information from multiple languages. MUM is multimodal, so it understands information across text and images and will eventually expand to modalities like audio and video.
AI adoption has generated high ROI for companies across the board, with 74% of respondents in a Statista survey agreeing that their organizations witnessed revenue increases of five percent or more. But as companies negotiate AI adoption, considerations must be made within parameters of safety, responsibility, privacy, and accuracy as governments seek to draw lines to control its unfettered expansion.