By now, you must be familiar with the term artificial intelligence (AI), as it has rapidly taken all industries by storm and is rightfully a hot topic of discussion.
Tools like ChatGPT, DeepFace, GPT-3, etc., are gaining mainstream popularity in an extremely short period of time, and everyone is racing to find a way to incorporate AI into their workflow.
Although this pursuit may seem driven by a fear of being left behind, it’s undeniable that AI’s novelty is a breeding ground for untapped opportunity. The marketing industry is no exception to this race, as there is an abundance of potential to leverage this technology.
With the growing demands for process automation, AI technology has proven to be a revolutionary solution for the future of marketing and all industries alike.
How AI can improve marketing strategy
At a high level, AI technology can efficiently solve problems with speed and accuracy, minimizing the time and effort exerted by your team. AI can perform varied tasks like data collection, analysis, and much more by learning from data prompts and inputs.
It continuously improves as it learns and predicts user behavior— a feature that teams can leverage to ultimately improve ROI.
When used effectively, AI features can be an impactful marketing tool to increase ROI. In a longitudinal study conducted by McKinsey examining the effects of AI across all industries, the marketing and sales industries amassed a 70% revenue increase when adopting AI in their business with up to a 28% decrease in cost.
Currently, across the SEO Tools, Marketing Analytics, and Lead Scoring categories, the ROI hasn’t been consistent. However, as more marketing software with AI features emerges across all three categories on G2, customers should achieve consistently faster ROI in the future.
While the fiscal benefit of AI software is evident, the various ways it can automate and optimize your marketing software is even more reason for your team to use this software. There are many forms of AI, but in this article, the main focus will be on generative AI and predictive analytics.
Using generative AI to optimize SEO and content
Generative AI in SEO can be used to analyze large datasets to identify high-performing and relevant keywords and phrases to maximize the performance of your content or marketing campaigns.
These tools can help produce highly ranked SEO-friendly content for all stages of the content creation process by developing relevant titles, headers, and topics.
Incorporating AI in your SEO efforts will help generate content that is optimized for search engines and tailored to your targeted audience seeking this information.
Using predictive analytics to enhance marketing analytics and increase ROI
Marketers can use predictive analytics to determine future customer behaviors and outcomes of marketing campaigns.
By using current and historical data coupled with machine learning and statistical techniques (e.g., predictive modeling, data mining, predictive analytics) efficiently provides the necessary data-driven insights to attract and nurture new and existing customers.
With AI-powered analytics, marketers can outperform competitors by proactively tracking and anticipating consumer trends and any shifts within the industry.
Predictive analytics can optimize marketing analytics by predicting the results of digital marketing campaigns and providing tailored campaigns that resonate most with consumer interests and preferences. This can help marketers determine which campaigns to further invest in or divest from, providing valuable ways to optimize the ROI.
Using predictive analytics to improve lead generation and lead targeting
Predictive AI can also help optimize strategies for lead generation when identifying and scoring qualified leads. These tools provide insights into consumers allowing marketing teams to determine key audience segments likely to convert.
Additionally, predictive analytics technology can determine consumer behavior based on past and current interactions. As a result, marketing teams can create avenues for marketers to focus on ideal leads and invest more money to target ads and campaigns to convert these groups.
AI algorithms and predictive models can also be used to analyze customer information, such as demographic, geographic, and even psychographic data points like preferences and interests. This thorough analysis can help uncover trends and audience segmentation to generate new business.
With the growing number of AI use cases, AI can be leveraged within the marketing space. Finding ways to usher AI into your marketing toolkit to enhance your marketing strategy will prove to be beneficial and maybe even necessary to maintain a competitive edge in the marketing industry.
AI is still relatively novel, but the emergence of its capabilities across all types of marketing software will be a trend to keep a close eye on.
Alanna is a Market Research Analyst at G2 specializing in marketing software. She is passionate about market research and the data-driven insights that help businesses understand trends in the industry, the psychology of human behavior, and the competitive landscape. With more than three years of experience working in market research, most of her time was focused on the life science industry until her recent transition into the world of technology. In her free time, Alanna is somewhere traveling the world, shopping at farmer’s markets, or attending gallery openings.
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Transforming Marketing with Intelligent Insights Powered by AIThis article explores three major ways generative AI and predictive analytics can be used to maximize your marketing strategy and optimize your campaigns.https://research.g2.com/insights/marketing-powered-by-aihttps://learn.g2.com/hubfs/AI%20in%20marketing%20G2-1.jpg2023-07-18 15:10:49Z
Alanna IwuhAlanna is a Market Research Analyst at G2 specializing in marketing software. She is passionate about market research and the data-driven insights that help businesses understand trends in the industry, the psychology of human behavior, and the competitive landscape. With more than three years of experience working in market research, most of her time was focused on the life science industry until her recent transition into the world of technology. In her free time, Alanna is somewhere traveling the world, shopping at farmer’s markets, or attending gallery openings.https://research.g2.com/insights/author/alanna-iwuhhttps://learn.g2.com/hubfs/IMG_1348.jpg