AI Data Analytics to Help Marketers Stay Competitive in 2023

Source: Stephen%20Dawson%20on%20Unsplash">Unsplash

Data has always been crucial for marketers. But this year could present even more pressure as Google phases out third-party cookies in Chrome by 2024. Without third-party cookies, marketers would need to make the most of first-party data as part of marketing in the new year.

But this is easier said than done, as it’s become even more challenging to keep up with volumes of customer data in a fast-paced, digital era. Also, ever-evolving privacy and data security regulations, plus, multiple customer touchpoints, add to the complexity of data management. Based on 2023 marketing trends, more and more marketers face the challenge of adopting a data-driven marketing strategy and generating leads and traffic.

With these challenges in mind, expert marketers believe that marketers ought to consider how they can leverage artificial intelligence’s full potential in 2023. For example, in data management, companies use AI features in data analytics software to clean and organize data and conduct real-time data analysis. Marketers with up-to-date and organized data can gain deeper insights faster, especially when it comes to understanding customer behavior. They can use their data to be more agile and adjust their strategies as trends and customer preferences change.

Moreover, marketers that are using AI have reported significant successes with the technology. Fifty-two percent of marketers said AI is essential to the success of their marketing, while 41% saw an increase in revenue and improved performance due to the use of AI. Additionally, 38% said they were able to create personalized customer experiences using AI tools in marketing.

AI Data Analytics for Lead Generation

Marketers can have a powerful tool in AI when implemented in lead generation scoring. Instead of scoring one-dimensional actions like clicks and downloads, AI can analyze multiple signals from prospects. These include click paths, time spent on the product website, pages viewed, and scrolled content.

Furthermore, AI can help marketers in predictive analytics. Not only will marketers get insights from current interactions, but they’ll also compare past data and behavior. There is more context to each customer, which could help marketers predict which leads are most valuable and likely to convert. Marketing teams can increase their efficiency in generating and scoring quality leads, thus, maximizing their efforts and resources.

Hyper-personalization

Once marketers identify valuable leads, they can leverage AI in hyper-personalization. In content marketing, for instance, marketers could tailor their email campaigns to individual recipients based on their interests and needs. The email subject line, messaging, and calls to action could all be crafted using data from AI to increase the possibility of conversion.

Personalization is also an effective strategy for up-selling and cross-selling. AI can analyze a customer’s previous purchases and browsing history and personalize product or service recommendations.

The same concept is behind personalized ad targeting. AI and marketing automation help marketers serve personalized ads to customers based on their past interactions with a company, their demographic information, and their online behavior.

Next-Gen AI Chatbot

With the development of AI-powered chatbots with natural language processing (NLP) capabilities, marketers can get a lot of things off their plates. For instance, they can use intelligent chatbots to promote events or webinars and collect RSVPs from interested attendees.

Companies can also use chatbots to engage with website visitors and collect contact information from potential leads. AI-powered chatbots could be implemented in subscription sign-ups to newsletters or new product releases. Additionally, marketers can use next-gen chatbots to help out in market research. Chatbots can ask customers for feedback and opinions on products and services.

AI’s Competitive Advantage

Even the most experienced marketers will need to rely on AI tools to increase the effectiveness and reach of their marketing efforts. With AI, marketers can save time and streamline their workflows by automating tasks and analyzing large amounts of data quickly and accurately.

Moreover, with real-time optimization, companies can have the advantage of tweaking their campaigns to fit emerging trends and events. All the benefits of AI marketing tools mean marketers would need to embrace AI-driven solutions for contextual targeting and other sophisticated tactics that could enable them to reach audiences at scale.