Artificial intelligence has a potential value in marketing activities such as best offers for customers and sales, programmatically purchasing digital advertising, and predictive lead scoring.
Nevertheless, the impact of AI utilization is different for each industry, being its highest in industries that attend a large number of clients, producing a vast amount of customer transactions and attribute data, mainly data collected from social media.
However, marketers plan to use AI in marketing strategies that consist of analyzing and segmenting, messaging customers, personalization, and knowing and understanding customer behavior.
AI applications help companies define and target customers to offer “the right product to the right person.”
Customization of customer’s experience — a process used by companies to attract new clients and to maintain the loyal and old ones by assisting them in their purchase or the utilization of the sold products/services, helping them to find the most excellent product/service that they are looking for, and creation of value across omnichannel customer relationships to obtain customer satisfaction, create customer loyalty and establishing long-term relationships with them through the support after-sales. Moreover, it also helps make decisions based on the criteria between digital and analog marketing by using the data collected and delivering personalized recommendations in real-time.
With the prediction made by AI of what clients are willing to purchase and their needs, the utilization of artificial intelligence can generate noticeable improvements. Through the data collected and analyzed with accuracy, companies may provide products/services to their customers based on this data.
Notwithstanding, AI may help with two essential sales drivers: price and promotion, what price should be charged, and what promotion should be done and used.
Many AI advancements in the field of marketing, especially with customer relationships, will take place in companies, as long as it will be more explored and developed.
According to some researchers, AI will change the sales process in many industries. This modification consists of salespeople being assisted by AI agents that accompany the sales process conversations in real-time. It might be able to identify the issue through the client’s voice tone and give feedback to the salesperson and guide him or her to the next part of the process in real-time.
Yet, about online shopping, the utilization of AI may be able to predict what the customer is willing to buy, adopting the shipping-then-shopping practices, in other words, recognize the preferences of the customers and ship it to them, with no formal order, being able to return the product if they don’t like it.
Humanoid robots have also been adopted by someplace as a competitive advantage — for example, the Tipsy Robot in Las Vegas.
On the other hand, there are some barriers to adopting AI due to policy issues (ethics, privacy, and algorithms) and the uncanny valley effect.
