As AI becomes more ingrained in our lives, businesses are starting to take notice of the potential benefits this technology could have for their marketing efforts. By automating tasks and providing insights that would otherwise be impossible to obtain, AI is quickly becoming a must-have for any company that relies on marketing for generating revenue. In this blog, we’ll explore the ways AI can enhance your marketing efforts and revolutionise your business.
What is AI, and how does it work in marketing?
AI can be defined as any form of computerised decision-making. This could involve anything from a simple chatbot to a more complex system that can autonomously make decisions based on data.
How does AI fit into marketing?
In today’s fast-paced world, speed is essential, and that’s where AI comes in. AI tools use data and customer profiles to learn how to best communicate with customers and then serve them tailored messages at the right time without intervention from marketing team members, ensuring maximum efficiency. AI is used to augment marketing teams or perform more tactical tasks requiring less human nuance for many of today’s marketers.
By automating repetitive tasks and providing actionable insights, AI is helping marketers do their jobs better and faster than ever before. And as AI continues to evolve, we can only imagine the possibilities that will be made available to marketing teams in the future.
The benefits of using AI in marketing
Reduced Marketing Costs for the Best ROI
Each advertisement has a variable cost and outcome. A natural strategy to discover how to make the most money is to experiment with different ads at random, and then optimise once you’ve gathered some insights.
This costs a lot of time and money. With the use of AI and machine learning, you can predict what ads will have the best results based on a factual analysis of data.
AI can help to optimise budgets by allocating resources to the most effective areas and campaigns. For example, if an advertisement has reached its performance-to-spending cap, it is wise to set the budget at that cap. This prevents the cost per conversion/click from getting too high.
With the rest of the budget, you can start new campaigns or increase existing ones. AI can also help monitor campaign performance and make adjustments as necessary to ensure that your budget is being used effectively.
Personalise content and ads
Every day, consumers are bombarded with commercials and information. As a result, the modern customer demands an increasingly sharp offer that is tailored to their unique needs.
Through data, AI can personalise advertisements to consumer needs based on their browser history and interaction with other ads. As a result, the advertisements will become more relevant to consumers, increasing the chance of converting potential customers.
Identify trends among your target audience.
By analysing website and order data, AI can identify patterns in customer behaviour. For example, if a customer frequently buys shampoo and conditioner together, AI might recommend that they also buy a leave-in conditioner. Or, if a customer always buys a bike lock after buying a bicycle, AI might suggest that they purchase a bike lock when they purchase a bicycle.
This will, in turn, provide an enhanced customer experience, leading to happier customers and with a bigger chance of them returning in the future.
Free up humans for more creative, critical thinking tasks
Since AI can take over repetitive tasks like data interpretation and forecasting, marketers get more time to do what they’re good at, creating meaningful relationships with clients and being creative. Therefore, their work becomes more fun and diverse. Which will, in turn, positively impact your business culture and employee satisfaction.
Current complications with AI and data collection
Third-party data is slowly becoming a thing of the past; therefore, we have to move to first-party data.
Why is this becoming a thing of the past? Current data restrictions and IOS updates have made collecting and storing data more difficult.
How to get started with AI and marketing
There are many ways to use AI within digital marketing, and as said in the previous paragraphs, it also comes in different shapes and sizes. Many companies offer AI solutions, and a few marketing agencies even have their own.
Some other the options out there are:
- Billy Grace
Billy Grace will be the new standard in marketing and is ahead of its time. It has many metrics that no other AI keeps track of. Therefore, putting you at a significant advantage compared to competitors utilising a different AI software.
automation through the use of AI, AdScale says they put together the right advertising plan based on store data and order history, so you approach the right customer with the right products on the channel. Because many shops use AdScale, the AI knows what works. Pricing starts at 199$
Madgicx says they are combining seven adtech products into one, creating an all-in-one solution for: Automation Tactics, AI Audiences, Ad Creation, Creative Insights, Bidding and Budget Optimisation, and a Strategic Dashboard.
Ecommerce analytics made easy; The user can find all important data within one dashboard. They indicate that these dashboards offer added value compared to Google Analytics or Shopify Analytics.
But if you really want to use the full potential of the possibilities that AI has to offer, you should go for an agency with its own AI software. Billy Grace is an example of an Artificial intelligence software that can maximise the results of your marketing efforts.
Billy Grace will save you time and money, increasing your revenue! What very convenient is about Billy Grace is that it is an all-in-one solution.
Aside from all of Billy Grace’s AI intelligence, it is the only area where you can find the correct data for your store. Shopify excels at sales data, Google Analytics excels at web data, and Facebook and Google excel at marketing data. Billy Grace combines, calculates, and provides you with the facts.
It also helps you with inventory management, giving you insight into your current stock and keeping track of which products are mainly sold together, giving you the ability to create a unique customer experience.
Billy Grace is also there to help you automate repetitive tasks. We wrote in a previous paragraph that budget optimisation is a significant development for AI and marketing. Billy Grace has this built into its framework, allowing you to optimise and automate your budget allocation. Which, in the end, will give you more positive and profitable results.
By collecting, analysing and visualising the data, businesses can get more insights into customer segments, inventory, adspent and much more. Giving marketers time to do what they were educated to do, get creative and come up with resourceful and innovative campaign ideas!
If you want an all-in-one solution, you must have Billy Grace; it is specially tailored for the Shopify environment.
AI is changing the way marketing works, and it’s important to stay ahead of the curve. Subscribe to our weekly blog for more insights into how AI is changing the world around us, including how it impacts marketing. We can help you make sure your business stays competitive in this ever-changing digital landscape.
Till next time!
Check out our previous blog!