Harness the Power of AI
Oct 02 2023
There are few areas of business that remain unaffected by artificial intelligence (AI). Marketing teams — and digital marketing teams in particular — have been using AI for the past several years as a tool for gaining greater insights into their target audiences.
But as AI solutions improve and increase, there’s great potential for AI to help businesses reach higher sales and marketing goals by collecting and synthesizing more accurate and useful customer insights. Keep reading to learn how AI could impact your marketing strategy as we continue into 2023.
A Glimpse at How Marketers Are Using AI To Get Ahead
AI is already making a big impact on marketers and how they refine the ongoing process of creating strategic campaigns. The following figures offer a closer look at current market performance, the growth of AI adoption, and how AI is implemented in everyday use cases.
Current market performance and projected growth
-The global AI software market is forecasted to reach $70.9 billion in 2023 and to grow to $126 billion by 2025. (Note that this figure includes more types of AI software than strictly marketing applications.)
-The global market value of AI designed specifically for marketing accounts for a substantial portion of the total software market: $27.4 billion in 2023, with projections of reaching $107.4 billion by 2028.
Overall campaign planning and usage
-Over 61% of marketers report having used AI in their marketing activities.
-Close to 20% of respondents to an AI in marketing survey reported spending more than 40% of their budget on AI-driven campaigns.
Specific use cases
-Nearly 45% of marketing professionals have already used AI to produce content.
-Forrester found that 27% of B2B organizations plan to use AI to power content recommendations for new and/or improved content marketing efforts.
-Chatbots are prolific across the internet, and their purpose goes beyond customer service: 57% of B2B marketers turn to chatbot data to better understand audiences and 55% utilize chatbots to generate new leads.
The AI Tools Marketers Are Turning To
To get an idea of what marketers are using now, Influencer Marketing Hub divided the different types of AI tools into the twelve categories listed below. We’ve included examples of some popular AI applications within each category.
1. Personalization: Nosto, Blueconic
2. Content Marketing: Jasper.ai, Copy.ai
3. Predictive Analytics: Qlik, Crayon
4. Sales and Chatbot: Drift
5. SEO: SEMRush, Surfer SEO
6. Digital Ads: OPTMYZR
7. Social Media: HootSuite, Lately
8. Customer Service: ZenDesk, Salesforce
9. Email Marketing: Omnisend, Drift Email
10. Data and Customer Segmentation: Amplitude, Blueconic
11. Image and Video Editing: Adobe Photoshop, Adobe Premiere Pro
12. Market Intelligence: Digimind, True Reply
According to a recent AI Marketing Benchmark Report, Jasper.ai is the top AI tool used by marketers.
How AI Might Impact Your Marketing Strategy This Year
With all of these available solutions, what can we expect to see from AI marketing software throughout 2023? The areas outlined below might be where you want to focus your AI marketing efforts.
Although only 1% of all data was produced by AI in 2022, Gartner expects that number to grow to 10% by 2025. Marketers will surely drive some of that content creation as they experiment more with generative AI across various strategic areas. AI-generated content will appear in more campaigns in a wider variety of formats, including SEO and email copywriting, blog posts and guides, and even images and videos.
One example of how teams can create top-to-bottom AI-generated material comes from Wistia, whose team used some type of AI marketing software at each stage of video production. They relied on ChatGPT to generate a script and then turned to another AI app to create an avatar of one of the team members. That avatar then read the script. (Even with these advancements, marketers should still expect to fine-tune their AI-generated content to ensure accurate messaging and coherence, though.)
Conversion rate optimization
One of AI’s greatest strengths is its ability to identify and synthesize large amounts of essential data quickly, which is especially useful in conversion rate optimization (CRO). Using AI software to uncover the best combinations of ads, landing pages, and other on-site variants can help marketers drive more (and more lucrative) conversions. The Mutiny platform, for example, uses AI to basically create a uniquely personalized homepage for each site visitor.
Social media provides a wealth of useful information that brands can use to better understand their target audiences and create a customer journey that aligns with how they interact online. But there is a lot of data to sift through. To get ahead of the competition, you need to be proactive — not reactive. Utilizing AI tools for social listening allows marketers to efficiently zero in on the right customer engagement opportunities, which is even easier if the AI solution integrates with your current CRM.
Because AI has become so pervasive, it’s possible that some marketers don’t even realize that their new favorite tool operates with AI. But with nearly 1,000 AI tools recognized by Futurepedia, it’s entirely possible that your next favorite digital solution will be powered by AI, too.
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