25 Oct Using AI to Increase the ROI on Your Digital Marketing Efforts
Artificial intelligence is an incredibly powerful tool in today’s business landscape. AI offers solutions and means of marketing to your customers in ways that were previously entirely cumbersome and time consuming.
As described by Lindsay Tjepkema of Emarsys: Artificial intelligence marketing (AI Marketing) is a method of leveraging customer data and AI concepts like machine learning to anticipate your customer’s next move and improve the customer journey.
This type of analysis of vast quantities of data and anticipation of customer movement means businesses being able to change advertising strategy on the fly, hyper-personalize their approach, uncover new revenue opportunities, and gain deep understanding of their customers among other benefits.
Some of the ways AI makes this possible are as follows:
Big Data Analysis
A well built, properly trained, AI engine is able to sift through and analyze massive quantities of data which would take humans unfeasible amounts of time. This means the sample of data is much larger than what has traditionally been relied upon to make marketing decisions. The outcome is that companies can make more targeted decisions to reach their desired audience more effectively and identify quickly when something is not working.
Everything stems from big data and the results from AI analyzing the information. One of these outcomes is a deep understanding of a business’ customers, their motivations, interests, likes/dislikes, political influences, and socio-economic factors. This creates a more complete picture of the target customer and allows a business to connect with them more personally, directly, and in more meaningful ways.
New Revenue Opportunities
Areas that AI can help uncover new revenue opportunities are numerous but will frequently relate to identifying new target demographic profiles, trend analysis, and search pattern analysis. Such insights allow the business to clearly understand where to focus their efforts in order to maximize the result.
This is a brief touch on some of the ways AI is helping to increase the ROI on digital marketing efforts and not meant to be an exhaustive list. The results will vary by business and industry but there is incredible opportunity there for any business looking to grow their business.
The team at fusedlogic is helping businesses to increase the ROI on their ad spend, and optimize website traffic and conversion through our Artificial Intelligence Lead Engine. Contact us today to find out how this engine can be deployed in your business!