AI is quickly pervading every aspect of life – and that includes marketing. AI disrupts traditional marketing decision-making. Rather than spending a long time collecting and analysing marketing data before taking decisions, AI not only automates these processes but also answers essential questions, including: “How do we decide what our next steps should be and optimise our actions for the best chance of success?” The potential for this predictive and suggestive technology in marketing is massive and it is already being demonstrated how AI platforms can interpret and ‘learn’ from data. The result within the affiliate marketing network world is that advertisers will no longer be dependent on network account managers or digital marketing executives to analyse campaign performance and recommend improvements. And that will make a very significant difference to both customer experience and ROI.
The value of automating this data analysis task cannot be overestimated. A typical marketing campaign might generate thousands of sales a day, based on hundreds of thousands of pre-sales activities as customers click through various links. Over a matter of weeks, this can amount to millions of data points, presenting a real challenge to marketers who wish to analyse this data for information about campaign success. From zettabytes of data about advertising platforms, product preferences, time of day and positioning of product, AI can identify the marketing approach that is most likely to end up in a sale. Essentially, AI will enable marketing to match people to the items they want – from trainers to electrical goods – more quickly and efficiently.
These are the examples how marketing benefits from AI so far:
Previously, it might have been safe to say that while chatbots and speech recognition were an interesting use for artificial intelligence, it still hadn’t made a legitimate impact in marketing or advertising. Currently, a wave of legitimately viable speech and chat interfaces have crossed over into the marketing worlds – and some of them showed grand promise.
Being able to predict the success of an email campaign or marketing initiative can help companies continuously improve marketing efforts (in display, text, video, or even direct mail). We can expect more companies in the future, and more refined marketing efforts from companies large and small as these technologies / assessment tools improve and become more mainstream.
Simply stated, programmatic advertising is the automated process of buying and selling ad inventory through an exchange, connecting advertisers to publishers. This process uses artificial intelligence technologies… and real-time bidding for inventory across mobile, display, video and social channels – even making its way into television. Artificial intelligence technologies have algorithms that analyze a visitor’s behavior allowing for real time campaign optimizations towards an audience more likely to convert. Programmatic companies have the ability to gather this audience data to then target more precisely, whether it’s from first party (their own) or from a third party data provider.
Besides, every business wants to understand the customers.This understanding can help you adjust your conversion rate optimization efforts and become more successful. User data is a record of the actions performed by the users. It shows what they have decided to do with the product or service. For a lot of people, user data is just a fancy name for user information. Well, it is not. It is collective information of user’s attributes and actions with your product. For example, a user searched for a product on your e-commerce website, stayed on the search result page for a while and then bounced off. Your system recorded all the actions. This is valuable information which you can analyze in order to determine the best tweaks that can be made in order to convert that user into a paying customer. User behavior analytics help you understand what your website visitors do, and how they behave on various channels and touch-points. By understanding user behavior, you can personalize messages and experiences for the right audience at the right time. This, in turn, will improve your conversions, and also boost many aspects of your performance. User behavior analytics help you identify specific behavior patterns of your site visitors. They give you the ability to classify customers based on common characteristics. Then you can customize your promotion efforts based on this segmentation.
Here are some of the ways in which you can use user behavior analytics to improve your conversions:
Something that’s relevant for one customer may not necessarily be relevant for another. That’s true for your best-selling products as well. But what if you were to recommend products that they are highly likely to be interested in? Personalized product recommendations can be an excellent way to improve your conversions. You can analyze the browsing and purchase behavior of individual customers. Then you can compare this data against the performance data of different products. Based on this, you can recommend best-sellers in categories they’re most likely to be interested in. You can also recommend products that would go well with items that they recently purchased.
Just imagine how confusing it would be if someone clicked on an ad for a special offer and landed on your homepage. They’d have to manually look for the offer again in order to find out how they can get it. While some may persevere, you might end up losing a lot of potential customers this way. But here’s where you can make use of user behavior analytics to prevent these losses and improve your conversions. You can start tracking the referral traffic for your site visitors. Then create personalized landing pages based on this data. For example, if someone clicks on an ad promoting your latest collection, they should land on a page showcasing the collection. Or if they click on an ad promoting a certain product, they should land directly on the relevant product page.
You can analyze the behavior data of each visitor on your site. You can then use these insights to create personalized email campaigns. Look for metrics such as: