Truly, by 2020, you’ll see the Internet of Things (IoT) and Artificial Intelligence (AI) determine the ways we connect, converse, and collaborate, at least with 3 things in marketing that will become automated.
Even now, the boom in cloud computing and social media have become decisive in defining the market trends and consumer approach. With the explosion of digital gadgets, building brand relationships, campaigns, and sales process will rely more on automation, making everything relating to them customer centric.
Reaching The Customers At The Right Time
- 1 Reaching The Customers At The Right Time
- 2 Automated Things in Marketing Before 2020
- 2.1 1. Enhanced Predictive Behavioral Analytics
- 2.2 2. Programmatic marketing or automated advertising
- 2.3 3. Artificial intelligence and machine learning
- 3 What Companies Do Today?
- 4 The Bottom Line
The emerging automated big data sets, predicting the patterns of human behavior and associations, will have the potential to reshape how companies react to customers to make gains at the end of the day.
The scenario will change altogether in the near future when the block-chain technologies enhance the automation of things in marketing before 2020. The rising technologies, like machine learning, voice recognition, virtual/Augmented reality, mobile web, and much more, when combined with the AI, can provide amazing opportunities for the marketers in reaching their customers at the right time, with the right things in the right ways. For them, it is more than a dream come true.
Tracking The Customer
A reliable automated marketing program can recognize your visits and behavior, by tracking the codes embedded in your emails or on the websites, using a cookie in the browser. Monitoring the customer’s behavior and place will become an indispensable part of marketing for positioning a brand to make it remain competitive.
Automated Things in Marketing Before 2020
When the technology and consumer behavior transform everything that connects to the internet, it is not the people who ultimately win, but the marketers. Automation will take the brands to such a vantage position, as the forecast will become easier for them. These innovations can hasten the consumer buying process through the real-time analytics of customer profiles and predictions, on patterns of behavior found in the data.
Although many are unaware of the smart side of the smart things, the Internet of Things and the AI display the highest potential to revolutionize the digital marketing, to a greater extent. Given below are 3 such things in marketing that can do wonders in developing brand relationships, campaigns, communication, and customer retention.
1. Enhanced Predictive Behavioral Analytics
Most of the advanced technologies we see around are the offspring of Internet of Things. Virtual reality, artificial intelligence, and a hoard of other things are derived from the IoT. It is a network of several technologies for gathering information from the physical world and simultaneously disseminating the data for analytics, applications, and communications. The IoT will provide regular and reliable user experiences and extend support to the working of the smart devices, through an effective feedback system to the supplier.
The marketing revolution that can happen through the Internet of Things involves an integration of several technologies, tools, systems, and services. The IoT’s autonomous communication connects the Internet’s intelligence to physical products, and by its virtue, both the resulting experience and the consumer make the products remain connected and smart.
Companies can use the smart devices with Customer Relationship Management (CRM) software, for collecting and organizing the data relating to their customers. This provision can function well on the informed decisions relating to marketing and consumer base, which is a boon for the marketers. The marketers can then embed their products with sensors for monitoring any customer behavior, as well as their data, through space and time, before initiating any deviant action.
Sensor Driven Analytics
Through sensor driven analytics, human decision making can be streamlined with the help of data visualization software. This will eventually open new pathways to marketing automation and control so that the burden on the marketers in locating their customers will be reduced considerably.
Just imagine yourself walking into a store with a smart phone that has an inbuilt beacon technology, allowing the marketers know where you are and whether you are evaluating a product for making a purchase. Knowing this, the marketers can reach you with real time messaging and promotions to enhance your purchase decision.
2. Programmatic marketing or automated advertising
The AI assisted Programmatic marketing is the most advanced digital marketing technology, designed to automate the advertising in real time. Based on the machine learning algorithms, its tools optimize the decision-making strategy for buying advertising space, considering customer demographics and keywords.
Technically, the Programmatic advertising involves several platforms, such as Demand-Side Platforms for open market ad buying, Supply-Side Platforms to handle ad inventory for publishers, and Data Management Platforms that collects and analyzes the customer data to perform customer targeting and personalized messaging.
These platforms, with its advanced algorithms and other parameters, analyze all the bids in real-time for every ad placed, so that the purchasing transactions can be allowed to take place instantly.
This sort of automated ad buying and placement process can avoid the intermediary ad buyers and salespeople, making the purchasing reliable and cost effective. In addition, programmatic marketing will generate greater insight into user behavior for optimizing key performance.
It is presumed that in the coming years Google will be spending 60% of its advertising budgets on automated advertising.
You can feel the presence of programmatic marketing, even now in the form of website tracking and ad banners, following your earlier visits.
Internet of things based automated marketing
To tell the truth, it is our lifestyles that have prompted many companies to take form. The analytics acquired through these companies are used reciprocally, to define our necessities that align with our lifestyle-centered-gadgets and their marketing. Since this is an unending cycle of production, procurement, and marketing, the Internet of Things is tuned to support the target market, on par with the gathered customer data.
3. Artificial intelligence and machine learning
The development of Artificial intelligence systems can automate market forecasting and augment the efficiency of tasks performed by people. As the term suggests, Artificial intelligence (AI) denotes the intelligent behavior of computational processes during decision making, problem-solving, and learning tasks, and is built as an artificial neural network.
The neural network of the AI detects the patterns in a large data set and is capable of identifying influential data while discarding the most insignificant ones. It can also differentiate the cause and effect within a given data.
Through the learning process, an AI could recognize relationships and connections between different types of databases and bring forth generalizations. By making use of an AI’s neural attributes, many of the customer oriented marketing complexities can be alleviated in the future.
Along with the social computing and data mining techniques, the AI can fulfill market segmentation and performance measurement and has the potential to reduce costs with improved accuracy. The AI automation in marketing can also carry out pattern classification, market analysis, and market forecasting.
The introduction of machine learning in marketing will replace the manual task of the marketers, by helping them with customer segmentation, personalization of messaging, and prediction of client lifetime value. It integrates science, analytics, and also formulates predictions on the exposed data patterns.
Unlike the rule-based systems, the machine learning algorithms can be used to identify the less known patterns of customer behavior. That means the machine learning can be useful in predicting results from the insights.
Without machine learning, compiling and processing data derived from multiple sources, like web page visits or purchase transactions, will not materialize.
If your company has problems related to customer churns, you would be better using the algorithms to find how the churns could be reduced. And after narrowing down to your initial marketing issue, machine learning algorithms will solve the problem, using your CRM data.
The solutions like Chorus.ai automatically transcribe and examine meetings in real-time, giving information and assessment about your sales opportunities and performance. It analyses the nature of a sentence and verifies the tempo and tone of speech, and also the frequency of the questions and the duration of the sales.
The futuristic marketing activities need the machine-driven AI applications throughout the customer journey. Humans alone could not handle the ever increasing customer segments, personalized messaging, and demographics based social advertising. The machine learning and other automation tools can simplify the whole marketing processes.
What Companies Do Today?
Today’s AI companies are looking forward to the future automated marketing innovations to add more to the customer experience. Sentient, for instance, utilizes the services of an AI platform that runs on an astonishing network of 2 million CPUs and 5,000 GPUs to meet the needs of retail customers in optimizing the customer experience.
The world’s biggest tech companies are thus hell bent on reinventing their marketing realms around AI. Before 2020, the automation will change the way of entire digital marketing. The launch of newer machine learning tools, like Google’s RankBrain, Salesforce’s Einstein, and Adobe’s Sensai are a few of the intelligence programs intended to revolutionize the AI marketing race.
The Bottom Line
Future marketing focuses on personal brand relationship and improved loyalty, through personalized conversations, observed behaviors, and preferences, on the basis of data collected from the customer base.
Several companies like Spotify, Netflix, and Amazon have already abandoned their conventional marketing regime, knowing marketing automation is the only way to marketing success.
By 2020, the aforesaid things in marketing will make Marketing Automation an absolute reality. But, for that, all you need is to set a right story for automated marketing, a right strategy in marketing automation, and a right system for reaping the gains from automated marketing.