Biz Tips: How AI Transforms Everything We Know About Marketing

Biz Tips: How AI Transforms Everything We Know About Marketing

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How AI Transforms Everything We Know About Marketing

Source: http://www.vikypedia.in/ai-better-digital-marketing-fact-fiction/

Before we get into the specifics of and relevance to AI to marketing, I’d like to break the marketing of products into two categories.

To begin, the first categorization of marketing is one that is mediated primarily through in-person, physical interactions where both client and customer become aware of each other.

I’d term this sort of marketing as active traditional marketing on the part of the seller.

Let’s explore some of the current marketing methods we have and explain how AI has the capacity to greatly enhance and expand those methods.

Traditional Marketing

Some examples of this appear in the idea of alliance marketing, which develops out of individuals from two different businesses meeting each other and one individual finding the other might offer a useful service for their own business.

For instance, a the CEO of company that supplies writing services meets with the manager of an content creation service at a donut shop and they hit it off.

When people think of traditional marketing, they usually think of a list of generic, physical efforts like going as a door-to-door salesman plugging some sort of fidget that sounds convenient but that everyone knows you really won’t need in the next two weeks.

Photo by LinkedIn Sales Navigator on Unsplash

The evangelist that knocks on your door is also selling something in the form of a religious doctrine, but nonetheless he is engaging in the activities of traditional salesmanship.

Car salesmen and real estate agents also stand on the top of my list of traditional marketing methods for other a product or service.

If we’re considering the times of the infamously entertaining “Billy Mays” infomercials as traditional, such commercials are a reminder of this slightly clunky, adorable, yet inefficiency form of rapport marketing.

It is inefficient on the basis that you do not get the maximum results from the marketing strategy, but instead from the person doing the marketing.

Online or Virtual Marketing

The second characterization of marketing is nontraditional and mediated primarily over the Internet.

These sorts of campaigns are becoming more and more relevant as the necessary technologies become available to increasing numbers of marketers attempting to maintain a competitive advantage and reach a wide audience in comparison to their competitors.

Starting with the basics, indiscriminate email campaigns or blasts are one of the most common low-cost marketing methods to reach a large number of online individuals with low efficiency.

It doesn’t end there!

Photo by rawpixel on Unsplash

Like we’ve mentioned before, although there are really only two categories of marketing strategies online the lines of the physical or traditional, and marketing methods rendered through the Internet’s communication abilities, people have come up with a multitude of different and interesting ways to reinvent online marketing.

Some of those virtually -mediated marketing ways include behavioral marketing, black hat marketing, Facebook marketing, interactive marketing, and pay-per-click marketing. A huge list and source of different marketing techniques and their explanations can be located easily.

The Juicy Details: The Arrival of AI

Anyone who’s had brief exposure to any number of science-fiction films might be able to come up with a litany of films that all speak to the amazing capabilities of artificial intelligence (AI) set in the future.

However, what about the circumstances of the real-life applications of AI? Are we getting any closer to the that novel Do Androids Dream of Electric Sheep by Philip K. Dick (This Blade Runner) today?

Are the sci-fi films all hype while not having any basis in reality? In reality, truth may be stranger than fiction when it comes to the capabilities of AI in the modern age.

There is already significant clamor surrounding the ability of artificial intelligence to really perform a number of surprisingly complex tasks, and these many of these tasks have incredible applications to both traditional and online marketing.

Photo by NASA on Unsplash

In a recent article in the Wall Street Journal, it was noted that AI has already developed to a point where it can dramatically assist in the hiring process, so choosing the best and optimal methods should be cinch for AI in comparison.

The main benefit that AI provides involves its ability to continually self-refine its code in order to adjust to the realities of certain tasks. This includes identifying the most popular and profitable items and which items are unsuccessful in comparison.

A Reflection

As a final point, let’s look at some of the explicit details surrounding how AI transforms both traditional and modern marketing methods through its predictive capability and inclusion of statistical data in its analyses.

The thing about AI is that it has access to an incredible amount of data and through machine learning methods, AI can further advance its own ability to understand the nature of financial processes.

For instance, it AI systems with machine learning capabilities have found themselves employed by a number of small to large firms (including IBM) to spot unusual transaction patterns indicative of fraud with surprising accuracy.

Photo by Alex Kotliarskyi on Unsplash

According to SAS, a firm dealing with data analysis, predictive analytics is “the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data” (Source).

In summary, combining AI and machine learning with the background of existing marketing methods has the potential to greatly optimize those methods based on the increasing accuracy in predictability that companies such as SAS offer.

This optimization will undoubtedly transform the marketing process by making searches for products much more efficient while sifting through, interpreting, and analyzing user data to create a more accurate profile of that individual’s needs.

AI is truly the path to transforming marketing efforts.

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