In 2020, artificial intelligence (AI) is no longer seen as something futuristic. It’s part of our daily lives, from asking Siri a question to telling Google to order food for home delivery.
It’s even being used to help researchers answer tough questions about the coronavirus pandemic, so we can stop the spread and get back to everyday life more quickly.
AI stands for software that performs human-like activities, ranging from learning to problem solving. You may have heard of “machine learning,” which is one of the most common types of AI used in all industries. This is the practice of leveraging algorithms to find patterns in large amounts of data, and automate decisions and actions around that information.
A good example would be Netflix suggesting movies and shows based on what you’ve already finished and enjoyed, or Gmail completing a sentence based on phrases you’ve written in the past.
Artificial intelligence is also being used to improve the sales, marketing and customer experience cycle, so many of us couldn’t have even imagined it a few years ago.
These are three ways that brands are leveraging AI to meet, engage, and win new customers.
Feed potential customers
Leveraging artificial intelligence to create meaningful and informative conversations with current and future customers, chatbots are an incredible tool for customer engagement. You won’t have to worry about falling customers because they’re tired of waiting in line to speak to a sales representative.
At any time of day, a chatbot can guide customers through the marketing funnel and answer their questions. They can even offer personalized suggestions based on customers’ purchase history.
Real-life customer service agents will be able to address more complex questions, while chatbots offer more basic (scripted) support. This will lead to increased productivity for those agents and allow prospects to experience smoother service. Overall, chatbot automation efforts are estimated to reduce customer service costs by 30%.
Enhance the customer experience with customization
You can use AI to collect data on customer behavior through each touchpoint of the customer trip. This rich data allows you to create a personalized experience for each client.
AI-free companies spend a great deal of time and manpower collecting this data rather than developing a better customer experience. If AI collects the data for you, your team can focus on creating a powerful strategy that improves the customer experience and leads to increased engagement and sales.
Increase conversation rates and ROI
Email marketing and AI go hand in hand. The AI can analyze the data from your email campaigns and suggest the best times to send emails. It is possible to take this even further and automate emails. Instead of emailing your entire list, you can select different times for people based on their past engagement, demographics, and purchase history.
Another way to personalize emails with AI is to use it to recommend products to customers. Keep in mind that personalized email marketing generates an average ROI of 122%.
Some companies may be intimidated by implementing AI-powered software. But the truth is, AI is one of the best ways to make your business more efficient and create personalized experiences for your customers at scale. The relationships you build with your customers become the backbone of your business.