From predictive analysis to leveraging customer intent — AI is doing it all for marketers and consumers alike
Don’t you just love how Siri, Alexa or Google Assistant answer all of your questions? Isn’t it interesting when you receive prompt responses on some website’s chat box no matter what the time is? Yes, marketers know this interests you and this is why AI holds fascinating possibilities in the future for marketing. Using AI, brands are studying user needs, behaviours and predicting their future actions. Some of the key areas where companies have been leveraging AI globally include:
AI’s competence to handle a large volume of data, and finding reasons and patterns among them has given marketers exceptional ability to make data-driven predictions and decisions. For instance, US-based Reflektion has created a platform that uses AI and machine learning for predictive analysis. Its algorithm enables modelling of millions of users every day and predicting what customers will do next.
Reach out at the right time
AI identifies the target audience based on their interests, focus, likes, etc and decides the target group. Last year, SapientRazorfish collaborated with Microsoft to develop an AI based solution for global cosmetics retailer Sephora. SapientRazorfish created a platform named Cosmos, which collected information about a customer’s profile and purchasing history. It also notified customers by email, direct mail or SMS when their favourite products were in stock or on sale, and even when customers were near one of their retail stores.
Personalising user experience
Titan was amongst the first few Indian brands that understood the importance of personalised experiences and thus launched a chatbot on its e-commerce store to engage better with shoppers. The chatbot conducted intellectual automated conversations with customers and offered them a highly personalised shopping experience. This helped Titan to have customer insights, engagement rates and track customer satisfaction.
Enhancing customer service
At times when issues get complicated, an intelligent support system will have a certain capability to direct customers towards parallel support channels. For instance, if a customer is unable to reach the telecommunication service team, then chat AI can act as a support channel and can help solve customer queries. Many companies in India are already leveraging such platforms, both on the B2B and B2C fronts. Last year, a survey by Gartner found that 84% of organisations are expected to increase investments in customer experience technology in the near term.
As technology changes rapidly, marketers need to alter their strategies to stay ahead in highly competitive industries. Going forward, AI, machine learning and analytics will play a major role in speeding up this shift. It is more about being curious and staying relevant with the latest trends that can benefit your business.
In the near future, AI will enable marketers to create a completely new experience for customers and meet their needs like never before. Marketing is expected to get more intelligent and data will be at the centre of this.
The author is consumer business head & CMO, Acer India