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THE ERA OF MARKETING RENAISSANCE- THE RISE AND RISE OF ARTIFICIAL INTELLIGENCE

Jhon | 2 hours ago

The inception of artificial intelligence robots happened in the first half of the twentieth century. Instances of it were surprisingly seen in fictional narratives like the concept of the “computer child” curated by author Thomas J Ryan in ‘The Adolescence of P” (1977) who was inspired by a human protagonist and was shaped with human characteristics. Fiction was converted into reality in 2004 when a 17 year old German created business motivated Sasser and Netsky virus which crept into the computers by illegally scanning IP addresses. Be it the psychopath “Tinman” from Wizard of Oz” or the humanoid robot in Metropolis or, the ideology of Artificial Intelligence was already traditionally incorporated in the psyche of humans and graced fiction and movies later. This was not merely a product of man’s imaginative faculty but was transformed into reality with the dawning of the digital revolution. No one could prophesize that this human imitating machine initially built to ease human functions would drastically take over our lives, creating serious scepticism as well as excitement amongst the very race that created it.

Earlier products would be promoted and marketed through the process of traditional marketing. This kind of marketing that dominated daily human life was mostly in the form of advertisements through print marketing, direct mail, broadcast and telephone and radio advertisements. Marketing of the 20th century is dominated by data and technology. Customer experience is being improved every single day by replacing human traditional marketing systems with diversified AI approaches. The revolution in marketing took place when companies used the Internet as a core advertisement medium as well as leveraged electronic devices which influenced targeted audiences using strategies like SEO, SMM, SMS and MMS which later got enhanced by AI. Consumer engagement has intensified through lucid interactions between customers and the brand creating efficiency in the workforce as well as maximising marketability of the brand.

The marketers of today are getting more and more aware about the excellent expertise of AI based tools which will bring companies closer to their consumers and increase its potential to targeted audiences, and saving the time and effort on the business and consumer side.

1. MARKETING AUTOMATION

This automatic function of marketing automation is benefitting companies at a large scale. This AI smart function has the power to customise marketing campaigns by strategically filtering out customer preferences and attitudes to enhance engagement and also convert targeted audiences to consumers in the long run. There is constant interaction between consumers through emails, text messages and applications provide records and reports which detect customer personas and give a personalised angle to the campaign. The bird’s eye view approach of marketing automation records the personal customer preferences and then curates customised newsletters and emails as per each recipient’s life cycle stage through email, SMS and in- app notifications. This function is both economical and maximises efficiency and also increases revenue and lead generation of the company. Companies like Amazon and Apple have become digital marketing giants because of incorporating unbelievably efficient marketing automation systems which have made them the most successful brands in the world.

2. WEBSITE DESIGNS

The magic of AI has entered the domain of web designing as more and more company websites are being designed using the extremely advanced CMS and drag and drop development technology which are powered by AI. The present day web app development’s first priority is to create a customer centric front end presence with the assistance of AI. AI is also being used to create the basic platform of the marketing process which includes the building of the website. Research confirms that 63% of consumers are already using AI technology without even being aware of it. AI are personalised as per companies like The Grid which uses an AI named Molly to design their websites. Adobe Sensei makes good use of artificial intelligence to help customers discover unique opportunities and also accelerated usage and processing including query solving, reasoning, knowledge representation and language processing. AI integrated applications like Hula is used to import web pages as templates and picture animation and multi page support. There are many others like Firedrop, Wordpress Plugin etc who are taking AI web designing to another level.

3. CONTENT CURATION AND CREATION

AI has accelerated the process of composing effective content. The specifically designed machine learning algorithms are able to curate targeted content which is able to reach consumer specific audiences. AI functions such as deep mining help in maximising brand reach and also identify content sources which even Google might not be able to archive. Content creation tools like PDFElement, local business extractor, Nitropro and others are some of the AI tools which have helped writers transgress the boundaries of traditional content writing and create material in sync with the dynamic marketing needs. Companies like Amazon, Apple and Coca Cola are searching for faster techniques to build automated narratives and marketing scripts.

4. PRODUCT PRICING/ PRODUCT CATEGORISATION

Dynamic pricing is a very important aspect of the retail industry which has been continuing since ages. AI is mostly utilised to perform customer data analysis and patterns and also calculate the average purchasing power of customers belonging to different geographical locations creating precision in price optimisation. With the advent of online shopping there have been a plethora of target specific product ranges and intense competition. Certain AI functions perform comparison and scrutiny with the competitive markets to determine the correct prices as well as categorise products as to the customer preferences. AI regulated applications and pricing optimization softwares like Omnia dynamic pricing, RepricerExpress, Seller Republic, Skuddle and many others which monitor competition and autonomous re-pricing. Brands like Flipkart, AirBnB and Zomato are built on effective dynamic price system.

5. CHATBOTS

According to Chatsbotmagazine.com “A Chatbot is a service, powered by rules and sometimes artificial intelligence, that you interact with via a chat interface “ We all are appalled by Apple’s Siri , Amazon’s Alexa and Google translator which are popular AI powered chatbots transmitting ions of information to a targeted audience through personalised interactions. Chatbots have automatic language processing abilities which are conversational and are also engaged in relevant data processing. Chatbots are becoming the life force of marketing. Recently even pizza hut is planning to make its chatbot debut in Messenger so that consumers are given an opportunity to customise their products as per personal preferences. Brands like Sephora, duolingo and many others are determined to enhance customer experience through their efficient Chabot systems.

6. Artificial intelligence is like the beacon of light which has enlightened all the spheres of marketing and business. The future of AI promises higher level of employments as AI is unable to perform more human tasks like leadership, judgement, innovation and management. It is estimated that in the next fifty years 70 percent of AI functions are going to improve and modify employee functions and speed up human tasks. We can only look forward to witness the unprecedented growth of marketing with the sheer assistance of artificial intelligence in all spheres of business.

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