McLellan: Where do AI and marketing collide? | Business Record

There’s also the area of content creation. Can a computer watch what people view and buy and then use data to know what that consumer should be shown next? Amazon, Netflix and Pandora are already showing us how effective this is. Why wouldn’t you want the same AI to be working on your website or other digital assets?

Buyers and pricing: Who is your next buyer? This is a fascinating and sophisticated aspect of AI and marketing that many organizations have yet to explore. By using propensity modeling, predictive analysis can give you insight into who is ready to move from consideration to purchase and which of your existing customers is most likely to buy. It will also give you an idea of what kinds of offers (products, discounts, etc.) are most likely going to trigger that purchase decision.

From there, it’s an easy jump to dynamic pricing. AI would help you determine who needs a discounted price to convert and who is ready to buy without you having to give up part of your margin.

Earlier in the sales cycle, AI can help with lead scoring. The idea that a computer can sort through our prospect list and tell us where to concentrate our efforts is very appealing.

There are many industries and professions who are probably right to be a little nervous about AI. But for us marketers, AI is poised to be a huge advantage in how we work. It has the capability to help us measure and deliver ROI in a very efficient way, which allows us to spend even more time on the creativity and innovation sides of our business. Because in those spaces, we are irreplaceable.

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McLellan: Where do AI and marketing collide? – Business Record.