AI is being used in the marketing space in several places. Some of the industries in which artificial intelligence is being used on a large scale are financial services, government, entertainment industry, healthcare, retail, and more.
In this article, we will mention a few applications of AI in the marketing domain. Below are the applications of AI:
- Bidding on Programmatic Media Buys
Every marketing team witnesses a problem in deciding the placement of advertisements and messaging on websites. A way to counter this issue is by formulating a detailed plan based on user preference. Still, the issue they will face is the lack of flexibility in altering plans in real-time based on the latest consumer information.
However, the implementation of AI can solve this issue through programmatic advertising. Programmatic advertising utilizes machine learning to bid on ad spaces relevant to the target audience. The bid is based on the data such as interests, location, purchase history, buyer’s intent, and many more.
The use of programmatic advertising gives the marketing teams a chance to target the correct channels and the right time at a reasonable price. Programmatic buying displays the capability of machine learning in increasing the marketing flexibility depending on the customer’s needs and interests.
- Selection of Correct message
Over different channels, the users respond to different messages in different ways. Some users might reply to a particular message emotionally, while other users respond to the same message in a humorous way. Thus segregating the type of responses can be a daunting task for a human being.
But artificial intelligence can easily solve this issue. The use of AI in marketing can track and segregate messages to create a comprehensive user profile. Thus, the segregation of messages gives the marketing specialists liberty to create customized messages for different users.
For instance, Netflix uses machine learning to analyze the user’s liking. It then modifies the user’s home screen and presents TV shows and movies similar to the user’s liking.
The use of AI and machine learning gives platforms an opportunity to gather valuable information from the customer. This information collected gives marketing teams a chance to enhance their conversion rate and improve customer experience.
- Granular Personalization
Modern-day consumers want to have a granular level of personalization when it comes to marketing messages. Marketing messages should be designed to include customers’ interests, purchase history, brand preference, and several other details.
The use of AI in marketing has solved the issue of granular personalization. Marketing teams can use AI to explore beyond demographic data and gain knowledge based on consumer preferences on an individual level. Thus adapting to AI and machine learning in marketing helps marketing teams to create unique messages.
For instance: – music platform Spotify uses machine learning and AI to modify the playlists a user listens to base on the genre the user has previously listened. This makes the application more engaging and entertaining for the user.