When you hear the word AI, you might picture robots taking over major cities or talking computers. However, AI applications are more realistic than you think, and not really dangerous.
From the built-in assistants on your smartphones, to AI-powered navigation predictions, your social media feed, and AI-based algorithms on song/video streaming service recommendations, AI technology is influencing your daily decision-making process and will continue to do so even more vigorously!
Artificial Intelligence is any technology that aims to mimic a growing human intelligence. It makes calculations, tracks users, forms statistics, and draws predictions from their results. In this article, we will explore 5 future prospects of AI and machine learning with a focus on aspiring entrepreneurs.
1. Predictive Customer Service 2.0
In subscription-based businesses, predictive analytics are an integral part of the CRM software where AI is used to evaluate clients who are most likely to unsubscribe by assessing the most common features and activities performed by clients who did unsubscribe. In the future, predictive analytics could not only list clients susceptible to unsubscription but list possible reasons for their dissatisfaction, create personalized client retention methods for each business, calculate the expected ROI for each given number of returning clients, and more!
2. Personalized outbound emails
Studies show that over 16% of outbound emails end up either undelivered or sent to the spam folder. Outbound marketing techniques seek to reach and engage with the highest number of clients who might be, and possibly are, uninterested in your product. AI could be used to analyze customers' previous behavior to enlarge your target audience accordingly and even send personalized 1:1 emails presenting relevant deals, offers, and pricing.
3. Audience Insight Generated Through Behavior Analysis
Picture this: you have the perfect social media marketing strategy, but you find trouble limiting your broadcasts to a single target audience. AI is currently used to track customers' activity and create data sets dividing those customers according to their demographics, their preferred products, channels, and their prospective screen time. In the near future, AI algorithms can manipulate this data to show the right ad at the right time to the right customer, resulting in ROA boosts for you.
4. Humanoid Assistant Chatbots
Most websites implement all types of chatbots to cover for their customer service representatives for simple questions and basic exchanges. Who doesn't love chatting with a friendly bot that sprinkles emoticons here and there and gives real-time originally generated responses? More importantly, you get to avoid picking up the phone. In the future, chatbots will be able to answer questions more effectively, engage in prospective sales, make refunds, create and curate content, and maybe, someday, supervise and regulate your online business holistically, thus saving you significant time and employment.
We may be amazed by the new abilities of AI-enabled chatbots. But, for now, if you're interested in creating a chatbot for your business, contact us at firstname.lastname@example.org to see how we can help!
Takeaway - From preventing churning (customer turnover) and enhancing your client retention rates, to rescuing your outbound campaign from the spam folder, predicting your target audience's behavior, and finally relieving you from your monitoring responsibilities, AI has created a whole new dimension in the field of digital marketing. The new AI-inspired transformations leverage customer data to guarantee an enhanced and personalized experience for your customers and maximum ROI for you.
Let us know how you feel about AI utilization in your business in the comments below or send us an email to email@example.com!