Getting Ready for Artificial Intelligence
Too much data, too little time! According to IBM, every day we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone. To track and analyse such a vast amount of data requires far more compute power than any human brain is capable of.
For modern marketers, the availability and analysis of data is just one concern. The very nature of today’s digital and connected world has created a crowded marketplace, where it is difficult for companies to set themselves apart. Customers desire a more tailored experience and deeper level of engagement – broad brand concepts and mass broadcasting approaches simply don’t cut it anymore. All of this makes an almost impossible task for marketing teams to facilitate the level of personalised interaction customers expect every day, and to hold their consciousness long enough to impact their buying decisions.
98% of marketing professionals believe Artificial Intelligence (AI) will provide a benefit to marketing
Today’s marketers need:
- The ability to capture and refine vast amounts of data
- Better and deeper insight on accounts
- The ability to quickly identify new prospects and opportunities
- The ability to deliver optimal personalised content and propositions in real-time
- In-depth analysis of buying behaviours – both historical and real-time
- Analysis of the response to campaigns, to identify what strategies are working, and for whom
- To predict what messaging customers need, and when they need it
- To continuously optimise customer experience and create value
Quite a challenge! This is why implementing Artificial Intelligence (AI) and Machine Based Learning (MBL) algorithms as part of the B2B marketing technology stack will offer a whole new horizon for marketers.
Imagine a world where you have a virtual assistant, one that doesn’t just capture and crunch data, and service insight, but simultaneously analyses behavioural history and real-time buying patterns (perhaps even as conversations are taking place). Imagine this virtual assistant could highlight the marketing strategies that are working and for whom, deliver smart recommendations and predictions on which messages will work best, based on razor-sharp customer segmentation. Imagine it could drill down into core desires, needs and wants for hyper-personalisation of content.
The possibilities are huge:
- Predict exactly when email messages should be sent to optimise open rates and engagement
- Know immediately what each customer is in the market for at any given moment, and fill their social media feeds with optimised content, offers and discounts
- Know what the customer wants and exactly what they are going to be in the market for, even before they do – anticipate their needs rather than react to them, and learn and grow alongside them for continuously superior customer experiences
- Market to the individual based on their online behaviour, habits and an understanding of what works for them is most likely to hold their consciousness
- Display and deliver content and refine messaging in real-time, even as a conversation is taking place
- Create marketing messages that engages with customers on their terms and isn’t intrusive
Artificial Intelligence readiness starts now
Although we are still a few years from AI having a broad impact on the marketing industry, early adopters are already seeking first mover advantage by investing in early forms of AI that can make a difference to marketing teams right now. The successful marketing teams of the future are already utilising solutions that offer a mechanism to capture data and insight and the ability to leverage as many content and interaction touchpoints as possible. They are developing a culture that is customer-centric at its heart, and they have a willingness to change behaviours and adopt new ways of working.