The Connection of Artificial Intelligence and Marketing
How it works
Artificial intelligence connects quite well with marketing, and if used in conjunction, companies can achieve success. According to the Merriam Webster dictionary, Artificial Intelligence is “the capability of a machine to imitate intelligent human behavior.” It’s quite an interesting concept, which helps cater to the personalization that consumers desire. Many major companies, such as Google, Facebook, and Spotify, use artificial intelligence. It can offer a deeper understanding of customer wants, needs, and preferences at an efficient rate. Marketing can make or break a company, whether it is new or old.
Tying together the concept of Artificial Intelligence with marketing can, in many ways, improve marketing for a company as a whole.
Artificial Intelligence bridges the gap and allows companies to market to customers on a personal level. Personalization is one of the many keys to marketing. In everyday life, consumers witness marketing from a vast amount of companies. However, not just any advertisement has the power to capture the attention of the consumer. With the use of artificial intelligence, advertisements have the potential to grab the attention of their viewers due to the personalization of the advertisements. According to Forbes, “73% of consumers prefer to do business with brands that take into account their personal information,” and “41% of U.S. consumers moved to other brands due to lack of personalization and trust.” Having personalization is not only beneficial in marketing your business, but it is crucial.
Streaming of music has become extremely relevant within the last few years. The two giants of music streaming are Apple Music and Spotify. Apple Music has done well as a platform, but a major flaw is a lack of sophisticated personalization. The music application Spotify has done extremely well with using personalization to market their service. Spotify saw an increase of 11 million active listeners after purchasing Niland, an artificial intelligence company. With the help of Niland, Spotify began to evolve. Within Spotify, artificial intelligence is used to form playlists of songs that may be appealing to the user. A similar marketing strategy is also used by Netflix. Netflix creates a list of different movies, shows, or documentaries based on the material the consumer has watched in the past.
Companies looking to improve sales on their product(s) may lean on artificial intelligence to aid future decisions. Many companies fail due to unsuccessful products, but with artificial intelligence, they may avoid failure or at least decrease the chance of it. Hernan Asorey views sales forecasting as a science that should always be data-driven. Humans will always have some form of bias; relying purely on a peer’s opinion will not be as productive as relying on data. Asorey also claims, “Without scientific logic, forecasting often happens on one of the two ends of a spectrum: either overly optimistic or overly pessimistic.” For a business striving for success, following Hernan Asorey’s advice could be extremely beneficial. Accuracy in sales decisions is crucial; without science, a company is essentially taking a shot in the dark. Even successful companies may use artificial intelligence to pinpoint issues with a product. Artificial intelligence can access information discussed online. With the information gathered, companies may make changes to generate more profits.
“Call of Duty Black Ops Four” is a video game created by Activision. If “Call of Duty: Black Ops Four” did not sell well, Activision might consider using artificial intelligence to improve the game. The data required will be sourced from different websites where the video game is discussed. Hypothetically, after making changes to the game, Activision should see an increase in sales compared to before.
Social media has evolved tremendously since its inception. Platforms like Instagram, Facebook, and Twitter give users a blank canvas to express themselves. Users of these platforms can connect with people anywhere on a personal level. However, not every social media user uses their platform positively. Cyberbullying has been a significant issue throughout the history of social media. Fortunately, with the help of artificial intelligence, Instagram can detect if a person is bullying another. The artificial intelligence mechanism used is named the “Enhanced Comment Filter.” Originally, the machine detected explicit language. In October 2018, Instagram revamped the “Enhanced Comment Filter” to “proactively detect bullying”, according to James Vincent of The Verge. Having the “Enhanced Comment Filter” is excellent for Instagram’s marketing as it sends a message to both its users and potential users that Instagram does not support bullying and protects its users. As illustrated in the graph “Social Media Users,” approximately 77% of the United States uses at least one form of social media. Without artificial intelligence, catching instances of bullying on Instagram would be a rarity.
Regardless of whether a business operates in the film industry, social media, or the music industry, artificial intelligence can aid in marketing. Companies such as Netflix, Spotify, and Instagram have leveraged artificial intelligence to market their products and improve their services. For reaching every customer and ensuring their experience is as personalized as possible, using artificial intelligence in marketing is ideal.
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The Connection of Artificial Intelligence and Marketing. (2019, Oct 27). Retrieved from https://papersowl.com/examples/the-connection-of-artificial-intelligence-and-marketing/