Source: SafaltaThe total value of the AI market as of 2019 was $27.23 billion, a tenfold growth in eight years.
Most of the popular items you use today are powered by AI algorithms. The firm in issue may not even be a technology company, but AI systems might allow many of its activities such as customer service, operations, and so on. Naturally, marketers are not the ones to abandon the use of technology, which is why AI systems assist them at every level of the consumer experience. In its most basic form, artificial intelligence is defined as "the science of making machines smart." As a result, AI marketing would bring marketing one step closer to being intelligent 73% of marketing professionals have implemented AI in their organizations. Boost your Skills by learning: Digital Marketing
- Marketing is adopting generative AI quicker than almost any other sector in the United States.
- By 2027, 74% of marketers will utilize AI in more than a quarter of their jobs.
- AI in marketing is now valued at $15.84 billion and is expected to exceed $100 billion in the next five years.
- Almost 90% of marketers say their company should boost its usage of artificial intelligence.
Table of Content:
Use Cases in Digital Marketing AI
Use Cases in Digital Marketing AI:
1) Voice search optimization:
With the development of voice assistants, voice search optimization has become critical. In 2021, 36% of UK adults will use voice search, according to Voicebot. Businesses may increase their search ranks and visibility in voice search results by employing AI to optimize websites and content for voice search inquiries.
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2) Chatbots for customer service: AI-powered chatbots provide immediate and efficient customer service. According to a Ubisend poll, 80% of UK consumers expect firms to provide chatbot help. AI-powered chatbots enable organizations to deliver 24/7 service, cut response times, and improve customer satisfaction.
3) Sentiment analysis: AI-powered sentiment analysis assists organizations in determining customer attitudes regarding their brand or product. According to the research firm Sprout Social, 77% of consumers who had a great experience are more inclined to suggest a brand to others. Businesses may acquire useful insights and respond efficiently by using AI algorithms to evaluate social media and customer feedback, resulting in enhanced customer satisfaction and brand reputation.
4) Image and video recognition: Image and video recognition solutions driven by AI can recognize company logos, items, or specific objects in visual information. Statista estimates that the UK digital video advertising industry will be worth £3.69 billion in 2021. Businesses may use AI to monitor and analyze visual material to improve brand monitoring, allow targeted advertising, and safeguard intellectual property.
5 ) Tailored content suggestions: AI-powered tailored content recommendations may boost user interaction and sales dramatically. According to a Segment UK survey, 71% of shoppers are dissatisfied with impersonal shopping experiences. According to Evergage, by employing AI algorithms to monitor user behavior and preferences, firms can deliver personalized suggestions, resulting in a 20% boost in sales.
6) Customer lifetime value prediction: AI-powered customer lifetime value prediction enables organizations to identify the potential worth of customers throughout the course of their relationship. According to Bain & Company research, boosting client retention by 5% may boost profitability by 25% to 95%. Businesses may adapt their marketing efforts to high-value consumers by employing AI algorithms to assess customer data and behavior, enhancing client retention and maximizing lifetime value.
7) Conversion rate optimization: Artificial intelligence-driven conversion rate optimization assists organizations in analyzing user behavior and optimizing conversion rates. The average UK conversion rate across sectors, according to Smart Insights, is roughly 3%. Businesses may find areas for improvement, customize experiences, and enhance conversion rates by using AI algorithms to study user behavior and execute A/B testing.
8) SEO optimization: Artificial intelligence (AI) research of search engine algorithms and information from websites gives insights for optimizing SEO methods. Organic search accounts for 53% of website traffic, according to Moz. Businesses may use AI to optimize on-page and off-page SEO variables, find keyword possibilities, boost search ranks, and increase organic exposure and website traffic by employing AI.
9) Prediction of customer turnover: AI analysis of customer data assists in predicting churn likelihood, allowing organizations to deploy retention measures. According to Harvard Business Review, boosting client retention rates by 5% can result in a 25% to 95% rise in profitability. Businesses may use AI algorithms to detect clients at risk of churn, customize retention tactics, and proactively avoid customer attrition.
10) Automated content generation: AI-powered content-generating technologies save enterprises time and money. 57% of UK marketers struggle to develop enough content, according to the Content Marketing Institute. Businesses may use AI-powered solutions to automate the development of content, such as descriptions for goods or social media postings, based on established criteria and data, assuring consistency and quality.
11) Competitive analysis: Artificial intelligence-powered technologies assist firms in analyzing rivals' internet presence and marketing activities. According to Ofcom, 97% of UK people access the internet on a daily basis. Businesses may differentiate themselves and make data-driven marketing decisions by employing AI to acquire information on rivals' ad campaigns, pricing tactics, content performance, and market positioning.
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12) Social media programming and automation: Businesses may use AI-powered technologies to automate social media programming and optimize posting timings. Statista reports that 77% of UK people use social media on a daily basis. Businesses may maximize the efficacy of their social media advertising campaigns by using AI algorithms to plan and automate social media posts, evaluate engagement data, and find the optimum times to reach their target audience.
13) material sentiment analysis: AI systems can evaluate written material to identify sentiment, assisting businesses in understanding their audience's emotional response. Statista found that 84% of UK shoppers examine internet reviews before making a purchasing choice. Businesses may obtain insights into consumer attitudes, determine positive or negative sentiment surrounding their brand or goods, and modify their communication and material accordingly to boost customer satisfaction and brand impression by adopting AI-powered sentiment analysis.
14) Influencer identification and analysis: Artificial intelligence (AI) analysis of social media data assists in identifying relevant influencers for marketing efforts. The influencer marketing sector is predicted to be worth £12.2 billion globally by 2022, according to Influencer Marketing Hub. Businesses can find influencers with strong reach, engagement, and audience demographics that correspond with their target market using AI algorithms, assuring successful influencer collaborations and campaign success.
15) Lead scoring and qualification: Artificial intelligence (AI) analysis of consumer data and behavior assists organizations in scoring and qualifying leads. Companies who thrive in lead nurturing create 50% more sales-ready leads at a 33% reduced cost, according to MarketingSherpa. Businesses may use AI algorithms to select leads based on their probability to convert, customize marketing efforts, and efficiently manage resources to maximize lead conversion rates and revenue.
16) Social networking trend analysis: Artificial intelligence algorithms detect developing patterns and objects on social media networks. According to Hootsuite, the UK will have 50 million social media users by 2021. Businesses may find current themes, hashtags, or dialogues relevant to their sector or target audience by employing AI-powered trend research, allowing them to develop timely and compelling marketing material and remain ahead of the competition.
17) Marketing campaign predictive analytics: AI algorithms examine previous campaign data to forecast the effectiveness of future marketing activities. The research firm Gartner, 70% of organizations will use AI for decision-making and improving customer experience by 2023. Businesses may enhance the effect of their marketing initiatives by employing AI to estimate campaign performance, optimise budget allocation, and make data-driven choices.
18) AI-powered location: Data analysis enables firms to target customers based on their physical vicinity. In accordance with Statista, 58% of UK smartphone users utilize location-based services. Businesses may use AI to send targeted and relevant advertisements to customers in specific geographical locations, improving foot traffic and conversions at local stores or events.
19) Customer journey mapping: Artificial intelligence (AI) analysis of customer information as well as touchpoints assists firms in mapping out the customer journey. Companies with good customer journey management enjoy a 54% higher return on marketing spend, according to Adobe. Businesses may get insights into the client journey, identify pain areas or chances for improvement, and enhance the customer experience across many touchpoints, leading to higher customer satisfaction and loyalty, by employing AI algorithms.
20) Sales forecasting: Artificial intelligence (AI) study of past sales data, market trends, and external factors assists firms in projecting future sales. Companies that use AI for forecasting revenue beat their counterparts by 10%, according to McKinsey. Businesses may properly estimate sales patterns, manage inventories and resources, and make smart marketing decisions to boost revenue development by deploying AI algorithms.
21) Optimization of content marketing tactics: AI analysis of content performance metrics and consumer data assists organizations in optimizing their content marketing strategies. 61% of UK marketers say their content marketing is unsuccessful, according to the Content Marketing Institute. Businesses may use AI to monitor content performance, discover gaps or opportunities, tailor content distribution, and generate engaging and useful content that connects with their target audience.
Would you be shocked to read an essay that opens by comparing the utility of artificial intelligence (AI) technology to the wheel? The odds are stacked against you. You would agree with it shouting at the truth in the claim given unless you live in a cave and are completely unaware of its influence. AI has permeated our lives to the point that it is difficult to imagine life without it. Commercial AI adoption has surged by more than 270% in the preceding four years, according to Gartner. According to Fortune Business Insights, the global AI business will be worth $267 billion by 2027. The overall value of the AI market in 2019 was $27.23 billion, representing a tenfold increase in eight years.
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What are the applications of AI in digital marketing?
What are some instances of how artificial intelligence may be applied in marketing?
Which firms employ artificial intelligence for digital marketing?
What is the future of artificial intelligence in digital marketing?
What are the commercial applications of AI?
- Lead generation
- Information and technology security.
- Make an appointment.
- Chatbots powered by AI for customer care.
- A highly effective diagnostic solution in healthcare.
- HR Onboarding and Recruitment.
Who is AI's forefather?
The father of artificial intelligence is regarded as John McCarthy. John McCarthy was a computer scientist from the United States. He developed the phrase "artificial intelligence" himself. He co-founded artificial intelligence alongside Alan Turing, Marvin Minsky, Allen Newell, and Herbert A. Simon.