AI tools can revolutionize your campaigns and achieve maximum ROI. Discover future trends in automation, personalization, predictive analytics, lead generation, and more!
As of January 2021, internet users worldwide have risen to a staggering 4.66 billion, representing a 7.3% increase from the previous year. This growth can largely be attributed to the widespread availability of smart mobile devices and advancements in telecommunications that have improved the quality and accessibility of the internet. Experts predict that the number of mobile users will continue to rise, reaching a projected 7.49 billion by 2025. As a result, industries must smartly adapt to these changing human behavioral patterns and focus their marketing strategies on the platforms where people spend most of their time. Recent studies indicate that 84% of marketers acknowledge that customer expectations are shifting their digital strategies. This underscores digital transformation’s importance, which has become a reality for marketing organizations worldwide.
Role of AI in Targeting, Lead Conversion, and User Retention:
Though AI has a wide range of use cases for the sales and marketing teams, it is primarily concerned with user retention and lead conversion in digital marketing. It can guide potential customers toward the company’s goals by using intuitive AI chatbots, intelligent email marketing, interactive web design, and other digital marketing services.
By leveraging Artificial Intelligence, marketers can analyze billions of data points to assess the most optimal parameters for their business accurately – this could include pricing strategies, which social media platform would be best suited for a specific audience, and where to place ads so as to maximize Click-Through Conversion rates strategically. AI provides crucial insights that allow marketing professionals to stay ahead of consumer behavior patterns.
Machine Learning (ML), a subset of AI, can autonomously access vast data from multiple sources, such as social media accounts, online menus, reviews, and websites, to create consumer purchase and after-sale patterns.
ML enables AI to compile this plethora of knowledge to generate content pertinent to its audience base with greater precision than ever before.
Thus, AI is evidently revolutionizing Sales and Marketing strategies across industrial sectors and will likely be at the core of content development. Although AI still needs a significant amount of work before it can be autonomous, it helps drastically reduce costs, enhance efficiency, and amplify organizational performance when combined with human efforts.
AI-driven Sales and Marketing Strategies:
Let us quickly dwell on various AI-driven Automated Sales and Marketing strategies, with successful business case studies as examples for each strategy. You may adopt one or more of these strategies to upgrade or enhance your sales practices:
- Super Apps integrated with AI: Super Apps are all-in-one applications that offer a range of services to users, including communication, entertainment, e-commerce, and more. One example of a Super App with AI-driven sales is WeChat, which is widely used in China. WeChat offers a wide range of services, including messaging, social media, mobile payments, e-commerce, and more. It has integrated AI technology into its platform to provide personalized recommendations to users and streamline the purchase process.
- Ad-Targeting, Personalization, and Customer retention: Personalization, and Customer retention: Personalization is becoming increasingly crucial for lead generation and conversion, as customers tend to connect with more tailored experiences. Netflix uses an AI-based Personal recommendation algorithm that suggests personalized content to users based on their viewing history and preferences as a strategy to retain customers from opting for other streaming services.
- Intuitive and Automated Chatbots: Recent research revealed that 70% of online shoppers would rather converse with chatbots than wait to talk to a human representative. Chatbots can save time and increase efficiency for both customers and businesses. Several AI-based chatbots have proved to yield stunning results. Aveda, a botanical hair and skincare brand, has deployed an AI Chatbot, resulting in a 378% increase in lifetime users within a seven-week campaign.
- Digital and Omnichannel marketing with AI: Omnichannel marketing involves using multiple channels, such as email, social media, and messaging, to reach customers and create a seamless experience. For example, Sephora, a beauty brand with more than 2000 stores across 33 countries, has adopted an AI-based omnichannel retail approach. Their ‘Virtual Artist’ AI platform is built on an Omnichannel marketing strategy to decode facial features and suggests purchasing cosmetics. Sephora could hence grow sales two to three times faster than other retailers.
- AI-Driven Consumer Pattern Predictive analytics: AI-based predictive analytics is becoming more important for lead generation and conversion. They can help identify the most promising leads and optimize marketing and sales efforts. Salesforce used this AI application to build the Einstein platform to predict customer behavior, automate lead scoring and routing, and personalize customer experiences. Companies using Einstein have reported more than a 20% increase in sales win rate due to predictive analytics.
- Account-Based Marketing (ABM) integrated with AI: ABM is a strategic approach to B2B marketing that focuses on targeting a select group of high-value accounts rather than a broader audience. Automated tools can be used to personalize messaging, offers, and content for each account and to track and measure engagement and conversions. But when linked with AI, Terminus reports that companies are no longer limited by their current contact list and can start delivering content that is tailored to an audience that has already shown a propensity for being their ideal customer.
- Automating lead nurturing activities: AI can train lead nurture patterns and use them through the sales funnel to send relevant and timely content based on consumer interests and behaviors. HubSpot is a classical AI-based marketing automation platform that helps businesses generate and nurture leads through various channels, such as email, social media, and landing pages. Thanks to AI-powered efficiency, the company has grown 10x, with a CAGR of 39%!
- Managing Social media advertising campaigns with AI: AI tools can be trained to create and target social media ads, track and measure engagement and conversions, and optimize campaigns for maximum ROI. For example, AdEspresso is a social media advertising platform that uses AI to create and optimize Facebook, Instagram, and Google Ads campaigns.
- AI Retargeting Tools: Retargeting involves showing ads to people who have previously visited a website or interacted with a brand. AI algorithms can be deployed to track site visitors, sort them based on their behavior, and show them relevant ads across multiple channels to increase brand awareness, engagement, and conversions and reduce ad spend. A proven example of an AI-Based Retargeting tool is AdRoll, which creates personalized ads and tracks conversions across multiple channels with AI. Customers have reported ROAS (Return On Advertising Spend) of up to 7x with AdRoll integration!
New businesses are experimenting with facial recognition to diagnose their customers’ moods and, as a result, make appropriate product recommendations. Therefore, AI combined with big data, IoT, and the human brain can expand marketing boundaries.
The Need to Start Marketing Campaigns with AI Tools:
In the above sections we have seen the current trends and different strategies for using AI for Sales and Marketing. You can customize and use these strategies to for your business growth. However, the importance of quickly adopting AI for sales practices should be further stressed. We have categorized certain critical challenges which AI-driven tools can solve:
- Personalization: Personalization is the crucial differentiation between Digital and Print Advertising. To optimize digital advertising campaigns, businesses need to create more personalized and targeted experiences.
- Predictive Analytics: Businesses must identify the most promising leads and optimize marketing and sales efforts. AI and ML can help sort and analyze vast amounts of customer data, understand their behavior, and predict future actions.
- Automation for Lead Generation and Nurturing: Today’s businesses cannot afford manual, repetitive tasks, which are often time-consuming and laborious. AI can provide a more timely and alternative solution for generating and warming leads.
- Customer Retention, Service, and Support: Large-scale businesses often invest in money and resources to facilitate and enhance customer service. AI can automate customer interactions, provide faster responses, and improve customer retention rates.
- Data-driven decisions, Digitalization, and the Future of Work: The future of work is becoming increasingly automated, AI, and data-driven, and therefore businesses that adopt these technologies will be better positioned for success.
Summary and Future Trends:
The trends and future of automation, with AI and ML-driven strategies for sales and marketing, are highly promising. Businesses that adopt these technologies can create more personalized, targeted, and efficient marketing and sales efforts that drive conversions and revenue. These technologies also prevent the company from overspending on digital advertising and ensure better use of resources. However, it is essential for businesses to ensure that these technologies are used ethically and responsibly.
Note: When considering automating or integrating AI into your business, you must consult experts who can guide and advise you. Make sure to take all the necessary precautions to prevent further harm during this transition.
– Feed from Lokesh Chennuru for Industry Digits
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