December 7, 2017
Elevating Market Returns with AI Chatbots
Despite growing enthusiasm over chatbots and artificial intelligence, many businesses still don’t incorporate these technologies into their marketing strategies. Or if they do, they remain on a “wish list” in more of a conceptual state.
A recent Forbes article cites a Demandbase survey that reveals 80% of marketing strategists believe AI will revolutionize marketing by 2020 but only 10% of actually use it. Of the 10% actively utilizing AI in marketing, the majority reside outside of the United States. This poses a greater question: Are Americans culturally ready for widespread implementation of AI? If so, what’s holding them back?
Starting with Chatbots
Chatbot implementation is a good starting point for incorporating AI in marketing. They serve a variety of purposes in sales and marketing from acting as a virtual assistant cutting down on overhead to providing key insight on customer profiles.
Chatbots that operate on artificial intelligence improve with time and evolve from answering simple, predictable questions to addressing more novel situations. Providing the right answers for your customers helps improve the customer experience and directs them to the right products to ultimately purchase.
The chatbot ROI becomes immediately apparent through sales. However, CMOs can learn a lot about their customers through chatbots. In turn, they can leverage data to re-direct marketing campaigns or even make slight adjustments to social media targeting that can create a dramatic impact on cost of conversion.
Chatbots in Social Media Management
Chatbots can help tailor specific messages to smaller target audiences making social media marketing management more effective. Traditionally, social media targeting entailed crafting messages to broad demographics such as millennial mothers or college educated men living in Los Angeles. Artificial intelligence and chatbots can make that targeting even more surgical and provide more precise customer data without direct management. Personalization is paramount for building brand loyalty.
Chatbots in Content Marketing
In addition to direct and social media marketing, producing more relevant content can also be supported through chatbot data. In order to keep customers engaged and improve search engine optimization, businesses of all types are producing web content. Chatbot data can help pinpoint exact topics and keywords to focus on in order to drive more web traffic and sales.