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AI-Based Marketing Automation For Uncertain Times
In times like these, marketers need to stick to the fundamentals plus focus on deploying the latest technologies like AI into their marketing automation stack
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The Covid-19 pandemic has caught the world by surprise. It has swiftly disrupted the pre-pandemic status-quo bringing with it a new normal. Most businesses, at the moment, are struggling to come to terms with the ensuing changes especially marketers, who are now heavily reliant on organic means to capture demand on the back of budget cuts and looming uncertainty. The marketing strategies now at play are focused on retention, avoiding churn, with a dominant concentration on engaging existing customers. Acquisition efforts have taken a back seat in the short term.
In times like these, marketers need to stick to the fundamentals plus focus on deploying the latest technologies like AI into their marketing automation stack. It can help in seeing through these uncertain times plus bring larger gains in the long term.
Focus on Efficiency Gains: Marketers need to focus on how they can get more out of the same. Some of the largest companies have announced budget cuts for marketing - Google reduced its marketing budget by more than 50%. It is in times like these that marketers should leverage AI to get efficiency gains to their marketing campaigns and the entire marketing function. For example, using AI to determine the right target segment for your promotional offer. Or using AI to predict and prevent app uninstall. From targeting precisely the right user segment to automating the campaign content, with AI marketers can achieve more even with limited budgets. Moreover, it can help you cut down on manual work and help reduce errors. This, in turn, saves up on time that brings efficiency gains in the marketing org.
Personalization powered by AI: Customers today crave empathy. Rather than bombarding all customers with the same vanilla message marketers need to be mindful of what they send. AI can help personalize the customer experience across every touchpoint. With hyper-targeted, contextual recommendations that are personalized to each customer, marketers can create 1:1 individualized engagement at scale. Such type of engagement and experience is impossible to do manually with rule-based, archaic, marketing automation systems. However, there are forward-looking marketing automation solutions that make use of real Artificial Intelligence and Machine Learning algorithms for advanced targeting and delivering superior customer experiences.
From Data to Insights to Action: Automation today integrates with all touchpoints to source data for a single view of customer data and eliminating data silos. Marketing teams today have access to smart insights readily available to make data-driven decisions. AI
accelerates this data democratization by enabling automated insights in real-time to marketers reducing dependency on data science teams. Access to real-time insights and the ability to take action on them helps create a competitive advantage when it comes to winning over the competition. Drive marketing efficiencies by making data-backed decisions that give predictable results over gut feelings that don’t always bring results.
Accelerate Experimentation: AI drastically enhances the ability of marketers to experiment continuously by testing copy, call to action, channel selection, even recommending campaign content for best results. Nurture, with the help of AI, an environment to experiment with campaigns, messaging, AB testing in marketing. And, focus on the creative aspect of marketing and let AI undertake the bits that it can easily optimize.
User Behavior Prediction: Copious amounts of data get generated lying unused, waiting to be analyzed to generate insights that can predict customer behaviour. Access to predictive insights like the likelihood of churn, intent to buy, or intent to repurchase can drastically transform customer lifecycle campaigns. AI bridges this gap for marketers by uncovering predictive insights from raw data and making them accessible.
We are going through extremely uncertain times. We don't know what will change and what will get disrupted. In these times, it becomes all the more important to focus on things that are less likely to change and build around them. Like enhanced customer experience, personalization, hassle-free shopping experience and combining AI with marketing automation brings us closer to these core customer needs that are likely to remain the same. Let's stick to basics for now.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.