Shelley Pursell
Marketing Director Latin America and Iberia
Hubspot
/
Expert Contributor

The Role of AI in Marketing and How To Use It in Decision-Making

By Shelley Pursell | Mon, 11/08/2021 - 09:20

The transformative potential of AI is still unknown. According to Sundar Pichai, CEO of Google, its impact on humanity will be even greater than that of fire or electricity, as its implementation opens up more and more new fields, from public safety and construction to entertainment.

For the business sector, artificial intelligence is becoming a critical factor in adapting to a new post-pandemic reality: a Gartner study predicts that 80 percent of business technology will begin to be built on an artificial intelligence foundation starting this decade.

On the one hand, AI is helping the workforce to maintain an optimal and productive approach to the advent of new work models; on the other, it is bringing new possibilities through sales and marketing: 63 percent of consumers already use some AI-based tool without realizing it.

In this regard, McKinsey says that, if implemented properly, artificial intelligence could unlock up to $2.6 trillion in value in marketing and sales alone. That's why I want to share three keys to take advantage of this innovative technology that will allow you to make better business decisions and, consequently, align your success with that of your customers:

  1. Reduce costs, empower business

With all the talk about this technology and the great potential it holds as it develops, it's likely that as a business owner or manager you've come to think, "I definitely can't afford it;" however, a successful AI implementation (and investment) can definitely help you increase revenue and reduce costs. Today, there are a vast number of AI-based solutions to free up time and resources, which can even pay for themselves, from image tagging on your website to managing paid advertising campaigns through PPC tools.

  1. Generate better leads through AI

According to BrightEdge, artificial intelligence is positioned as the tool that is providing marketers with the most opportunities to improve their strategies. Today, marketers can implement it to determine which potential customers are worth pursuing and what value they can expect from them.

Many companies are turning to predictive lead scoring, an algorithm-based method that works by collecting large amounts of data to, as the name implies, help predict the value of potential customers in advance, thereby streamlining customer prospecting and closing better sales.

  1. Customized content and experiences

The pandemic has introduced a new paradigm in consumer profiling. Today, just over 64 percent of shoppers expect personalized experiences based on the interactions they have had with a brand. In this sense, your business can leverage this technology to design better experiences that meet the size of their expectations. Chatbots, which work by automatically learning the language and interacting with customers, are perhaps the most sophisticated and affordable tool you can start implementing to connect with consumers. It is estimated that 75 percent of companies report high levels of ROI thanks to personalized marketing.

Undoubtedly, artificial intelligence is allowing large companies to overcome new paradigms and take control of their future in an increasingly uncertain world, while providing them with new digital skills to make better decisions that positively impact both their business results and their relationship with their customers

Photo by:   Shelley Pursell