4 Ways You Could Be Incorporating Artificial Intelligence Into Your Marketing Strategy | Entrepreneur

4. Pricing
Finally, another huge opportunity for AI-savvy marketers is the possibility of dynamic pricing. As digital content manager Robert Allen has wisely commented on LinkedIn: “Discounts are extremely powerful, but they can also hurt your bottom line . . . sales are so effective because they get people to buy your product that previously wouldn’t have considered themselves able to justify the cost . . .

“But,” Allen continued,”they also mean people that would have paid the higher price pay less than they would have. Dynamic pricing can avoid this problem by targeting [sic] special offers only at those likely to need them in order to convert.”

What this means is that the sales you offer don’t affect your bottom line as much as they would have had you applied the promotion to your entire customer base, as opposed to only those who need the incentive to purchase.

In sum, it’s time to jump on board with the latest technologies in artificial intelligence for marketing, because — for one thing — AI is already being implemented by giants like Amazon, Starbucks and Whole Foods. And that fact is driving the technology to improve, to continuously meet the demands of customers, who increasingly seek personalized content and shopping experiences.

As virtual shopping assistants build relationships with shoppers, for instance, the technology will become more and more familiar with those customers’ shopping habits and more capable of directing targeted marketing campaigns their way, on behalf of the entrepreneurs behind those campaigns.

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4 Ways You Could Be Incorporating Artificial Intelligence Into Your Marketing Strategy.