Effective business marketing reaches its audience and creates conversions. The challenge lies in the very simple problem of marketing waste. For want of a better strategy, marketing campaigns have taken a trial-and-error approach. Whether online or offline, campaigns essentially scatter seed on the soil in the hopes some will take root. Imagine your marketing efforts were seen mainly by the people you want to see them -- people who've searched for what you have to offer, or whose online behavior suggests they're mostly likely to be interested in your products or services. Machine learning has the potential to reduce much of marketing's imprecise nature. Using behavioral data, marketers can target their audiences in an efficient way that greatly improves the likelihood of converting shoppers to customers.
Professionals have flirted with marketing prophecy, or demand forecasting, over the years. In many cases, this planning has been accomplished based on trends and consistent purchase patterns. Adopting Artificial Intelligence for marketing purposes offers decision-makers something more concrete: the overwhelming possibility to give customers what they want before they know they want it. These efforts still will be mostly suggestions. But they'll be informed by data not presented as blind suggestions to a disinterested consumer.
Machine learning narrows down the bracket. Then, it goes one better: It provides actual means of sentiment analysis so marketers know what to say and how the audience is likely to react. The effects of sentiment analysis are laid bare on Twitter, where marketers can monitor social chatter to see what’s resonating with a specific target audience. Brand specialists and copywriters then can tweak ads immediately in response to comments and trending replies. This brings the right message to the surface.
Machine learning reduces marketing expense because it requires far fewer people to be involved. It also drastically cuts communication costs, as a majority of customers can be kept updated on offers via automatic emails, scheduled social-media posts and online ads or other content.