Bar Maimon, Growth Hacker, Founder, and CEO, iceweb.com.
AI has divided people into two camps—those who fear it and those who welcome it—which makes perfect sense. After all, marketers are familiar with Google and social media, but this? This has the potential to upend everything we know.
So, which is it? Is AI an existential threat to your organization’s marketing, or is it a lifetime opportunity?
For my company, AI has acted as the great leveler. Until now, big companies have had a major advantage: access to data that most smaller companies lack. AI, however, can help everyone track where revenue and customers come from, leveling the field. Even as far back as 2016, AI algorithms have proven capable of increasing leads by as much as 50%. Recent advancements in AI technology can create excellent opportunities for small businesses to become enterprise-level in record time.
Ways To Use AI In Marketing
So, how can marketers use AI in practice? One of the most common methods is AI-generated content creation, such as drafting emails, social media and blog posts. In my experience, however, using AI for content alone is not using AI at all.
1. Data Analytics
In today’s data-driven marketing landscape, AI-driven analytics can be an especially valuable tool. AI can process millions of entries, purchases and sales and then use that data to offer insights into platform performance, audience engagement, product success and more in mere seconds. Here are some of the primary ways you can utilize this kind of high-speed data analysis:
• Personalization: Use AI to segment your customer database into interest and purchasing profile clusters. This can allow you to send customers personalized emails and relevant advertisements in line with their requirements.
• Monitoring Customer Sentiment: AI can also track and observe conversations on social media and deliver customized reports on brand reputation, helping you notice and mitigate potential threats before they become severe.
• Predicting Trends: By analyzing historical data and current sales trends, AI can also help you predict future trends. I’ve found this to be especially helpful for addressing key questions about future demand, target markets and emerging opportunities that have minimal room for guesswork.
• Pricing: Many companies struggle to keep daily tabs on how their products are selling and adjust prices accordingly. AI can do that for you by tracking price trends, past sales flows and all sorts of diverse data to predict sales and adjust prices on the fly. You can use this information to find the sweet spot of offering the right price at the right time.
2. Media-Buying
Instead of spending thousands of dollars on underperforming digital ads, make the most of your search engine marketing (SEM) budget with AI and programmatic advertising. AI can be used to automatically match your budget to your audience, as well as collect data on potential customers and target your ads when and where they are most likely to be seen.
3. Virtual Assistants
Another common use of AI is for chatbots: virtual assistants that answer customer questions. You can lighten your marketing department’s workload by using chatbots to offer tailored recommendations and offers to customers in simple language. However, you don’t have to just answer basic questions; consider having your chatbot make product recommendations, as well. When a customer uses your AI assistant, it’s because they want an answer to a problem. What better time to nudge them toward a purchase that meets their needs?
4. Efficient Admin
Automation is one of the most widespread uses of AI in the office. Help your marketing team focus on creativity and problem-solving by automating administrative tasks that AI can handle quickly and efficiently, such as data entry, email outlines and campaign optimization.
5. Voice Search Optimization
With over 8 billion voice assistants in use today, voice searches seem set to be the next big thing. From booking a hotel to ordering pizza, more and more people are buying things with voice commands. AI tools can help you penetrate this exploding market smoothly and efficiently by analyzing natural language to understand user intent, identify relevant conversation keywords and generate content that answers questions directly. You can also use AI to run voice-activated chatbots for conversation marketing.
How To Ensure AI Is Friend Instead Of Foe
As of 2024, 86% of senior business leaders have already started using AI to enhance their revenue. However, according to Gartner, over 80% of AI projects fail. To implement AI successfully into your business, you need realistic expectations; don’t expect AI to solve all of your problems.
Start with small pilot projects and then slowly expand. This can help minimize risk, prove value and build your confidence in AI. Practice ongoing monitoring, and create clear frameworks that emphasize stable security and compliance.
There will be challenges to face, such as implementation costs or a lack of required skill sets in your current team. To combat costs, consider a cloud-based AI solution; I’ve found this to be an affordable option that can reduce upfront investment. Another way to reduce costs while acquiring the necessary skills is to upskill your current employees rather than hiring new ones to bridge the skill gap.
Your team is the key to your success. Communicate AI’s role and your intended uses. I find that the best ways to combat internal resistance are good communication, transparent reskilling plans and actively engaging your employees throughout the transition.
Finally, when choosing potential AI partners, select those that align with your company’s ethical values, possess domain experience, and offer secure and scalable solutions, with a focus on long-term collaboration.
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