Mobile phones, thanks to rapid developments in smartphones, have transformed consumers into always-connected global beacons. These smart devices have developed into peripherals of our very selves. For some consumers, social media and the Internet act as primary means of interacting with others – and, of course, with brands.
As marketers, we have already witnessed the revolutionary impact that social media and the Internet have had on the way businesses operate, and especially the way in which brands expose consumers to products. Here are just a few of the ways marketers have benefited from the rise of AI so far, and what the journey has in store.
Data is the new oil
With social media platforms comes a vast amount of data, which has been labelled “the new oil” given its extreme value. These channels collect and store all kinds of analytics for varying purposes. Thanks to emerging AI tools and breakthroughs in machine learning capacities, data is now utilised as a means of analysing customer patterns for sales, advertising and marketing purposes, to develop automated systems and customer profiles to target certain markets.
One way to think of this is like an automated recruiter or interviewer. AI can sift through piles of data to find the ideal customers, clients and even recruits based on information that it already has and the programme that it’s using. In some cases, it can also predict or rate how good or “hot” a given lead is and how likely it is to deliver the desired outcome (i.e. the candidate being successful and securing the job). This can save a lot of time and energy on basic searching, giving users more time for tasks like pitching and sales calls that may require a more human touch.
Several programmes already exist that do just this, such as Node – an open source platform which uses metadata to recommend new customers. LinkedIn’s Sales Navigator tool is another popular premium tool, which uses AI algorithms to ultimately help users find employment leads and generate business.