4 ways to use AI effectively for better MarTech reporting
Updated: Mar 5, 2021
Artificial intelligence promises better insights and ROI by using analytical techniques and processes within your marketing efforts. By effectively using AI on MarTech data you can increase your marketing relevance and engagement with potential customers. Besides, using these advanced methods can boost your company's bottom line and allow faster growth and success.
Over the years, AI has been making company marketers excited, and for a good reason. The technology has improved the customer experience, increased sales, and helped companies become top consumer brands. In fact, according to the latest market research from Forbes Insights and Quantcast, "AI has enabled marketers to increase sales (52%), increase their customer retention (51%), and succeed with new product launches (49%)."
However, throughout my career, I still see many marketers not yet utilizing these new AI capabilities. I've identified two common reasons: 1) there's a lack of knowledge and resources in-house, and 2) there's a lack of time and effort to get the most out of the AI features.
If this sounds like you, and you're struggling to get started with AI to improve your MarTech initiatives. The following four (4) tips might push you to start now.
Use machine learning to better analyze data
AI is a broad term that includes many concepts; one of these is Machine Learning or ML. Machine Learning refers to computing algorithms that continuously learn from data to solve problems and reach better conclusions without being re-programmed.
Analyzing data is something that marketers must do continuously to identify the best way to reach customers - be it content, timing, channel, or frequency. Hence, you can use machine learning to automatically and accurately speed up that process. Not only will it save you time, but it will also enable better strategies and increase the likelihood of marketing success. Because machine learning can quickly detect new patterns and global trends, you will be better equipped to create relevant and engaging dialogues.
Machine learning is just one example of using AI to improve marketing results. There are several other benefits you can get by implementing data analysis.
Filter out non-relevant data
There is a lot more customer data available today to help you make marketing decisions. So much data, in fact, that it's not worth the time and effort to go through it manually. AI can help perform the complex and repetitive tasks needed to go through this data and provide you the right data analysis for your marketing efforts.
Having better reporting will benefit your company. By using AI, you can focus on the crucial data in driving meaningful change within the business.
Enable AI for remarketing strategies
You can remind your existing and potential customers about your products and services (even after they have left your website) by using different remarketing strategies. For example, you could send abandoned cart email reminders to potential customers about your services to increase buying chances. Furthermore, you can use personalized banner ads on popular third-party sites to see only the product or service that's relevant for them.
Using remarketing strategies will allow your brand to always be top-of-mind in your target audience. It will improve your chances of attracting relevant visitors to your website and finding out more about your offering. Many popular websites and companies use this type of strategy as it has proven ROI.
Furthermore, you can use customer data to create a much more accurate customer profile. AI can help you gain more understanding of your customer behavior both on and outside your website. The goal would be to increase conversion rates and sales of your product or service.
Create a personalized customer experience
AI within digital marketing can create a personalized experience and target customers with the right content at the right time. Of course, this comes with many obvious benefits, such as increasing engagement, conversions, and building customer loyalty and trust.
Customers will be happy if they can find what they are looking for and have a smooth experience. They'll look to your company as an industry authority because you provide value to them. Besides, what happens if you're not providing customers an excellent personalized experience? In that case, you are behind the times and could be losing revenue.
Hopefully, these tips will encourage you to get started and use artificial intelligence within your MarTech solution so that you can report better. Not only will you be able to increase the company's authority and trustworthiness within the industry, but you can provide a better customer experience.
Senior Technical Marketing Consultant
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