How Can Machine Learning Impact Your Business?

Published on September 3, 2018 in Frank Blog

How Can Machine Learning Impact Your Business?
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Yes, we are already in the future. Machines have become vital helpers for enterprise growth. Their impact on businesses is tremendous. As an exciting and full-of-potential sub-area of artificial intelligence, machine learning has proven to be a surefire way to bring a competitive advantage to organizations.

Gartner’s report about the impact of data science and machine learning on businesses prompts company leaders to start nurturing artificial intelligence as a key driver to future growth. This change is not only about linear or structural development. It’s a fundamental conversion that fosters a new way of thinking. It leads toward a market in which businesses become powerful data diggers, analyzers, and predictors, connecting to consumers in innovative ways.

In terms of productivity and business enterprise assistance, machine learning helped companies optimize inventories and supply chain processes by adopting best-case algorithms for improved demand planning and forecast accuracy. In customer support, chatbots have overturned the tables in favor of machines as they’ve become perfectly equipped to deal with frequent and dry, yet cumbersome customer questions, as well as to solve simple customer complaints.

Machine Learning Applied to AI in Marketing

Meticulous analysis of consumer behavior is one of the most important gains that machine learning can generate for a business, one from which organizations accrue long-term value. This is especially true when applied to marketing practices. AI in marketing helps businesses create incisive analytical methods that track past consumer actions to gather insights about how consumer needs change over time.

AI marketing tools can help you not only target relevant consumer audience at the end of the buyer’s journey but also nurture leads in advance, as they show interest in a product or a service you offer. For instance, by learning that a consumer has searched for a particular type of dining table, you’ll be able to advertise matching chairs and also craft appropriate furniture content across multiple channels.

Machine Learning Applied to AI in Marketing

In a way, you can start creating marketing prophecies. Simply put, a marketing prophecy is telling your consumers what they want before they even know they want it.

Machine learning used for AI in marketing can help you structure copywriting content around your audience’s most likely reactions, without second-guessing needs.

AI advertising transforms the two-way communication channel between businesses and consumers. Market camps on both sides have forever communicated to get and deliver personalized experiences. Now, with AI marketing software, things got way simpler.

AI marketing companies provide sophisticated machine learning methods for real-time analysis of most intriguing content for consumers. By using them you can develop buyer personas with surgical precision, as well as create dynamic audiences that showcase substantial flexibility, one you’ll actually be able to meet with greater success than ever before.

A very simple but efficient way in which AI marketing lets you reach out to eager consumers is by improving email open rates. You’ll understand when and to whom to send your next campaign to boost click-through rates and ROI.

We have already demonstrated the practical value of AI in marketing by giving you direct information about how to incorporate it in your marketing strategies.

The Practical Value of AI Advertising: Programmatic Ads

Aside from creating compelling dynamic content and automating extensively laborious tasks, you can use AI marketing tools based on machine learning for programmatic advertising. Programmatic advertising is executed by software that lets you create cost-effective advertising models by bidding for the best value in real time.

Instead of spending days and weeks on finding the best way to connect with the relevant consumers, you can apply machine learning methods to complete most of the legwork for you. When a computer can choose between direct programmatic ad buying and open RTB auctions or invitation-only auctions, your effort in a campaign gets less onerous.  

The Practical Value of AI Advertising: Programmatic Ads

However, it’s short-sighted to think of machine learning simply as a specific tool for improving marketing campaigns. Another more generic area of focus for digital marketers is human labor. When strengthened with effective automation of manual and repetitive tasks performed by humans, artificial intelligence becomes a mighty team member that frees a lot of your time.

Changing E-Commerce

Finally, by streamlining all of the above processes in an integrated marketing model which includes machine learning and other AI advertising subareas, we get to see a new face of e-commerce.

Consumers no longer see relevant ads on isolated channels and media. AI marketing is about a cross-platform experience. A search performed in an Amazon store will impact the content of targeted ads consumers see on Instagram, for example. Machines learn from consumers’ busiest online activity windows, in turn, letting them see appropriate products at the optimal purchasing time.

In a nutshell, artificial intelligence in marketing is capable of analyzing huge amounts of data from giant online networks to connect both market camps, consumers and businesses, in an unprecedented way – one that is capable of improved data analysis and generating business growth by leaps and bounds.              

 

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