These 3 Ways of AI-Based Marketing Can Improve Customer Retention

AI-powered marketing enables brands to personalize  customer interactions while making real-time decisions based on  actionable insights from vast amounts of historical and current customer data. In fact, IBM reports that 50% of brands  surveyed are already using AI to quickly access analytics, campaigns and process automation, and  are looking to embed them directly into their customer touchpoints.

The report also found that executives  are highly interested in AIenhanced CX, with 70% believing that the industry is ready to embrace AI/CX and 75% predicting that AI will play an important role in the future of brands . . Not surprisingly, 57% said meeting customer expectations for a more personalized experience is the number one reason for adopting AI.

What is AI-Based Marketing?

AI-powered marketing uses artificial intelligence to make automated decisions  based on data collection, data analysis, and observation of economic trends that can influence marketing campaigns. By collecting, analyzing, and continuously improving customer data  across all brand channels using machine learning, AI can use predictive analytics to determine the next best way to present to customers in real time. These actions may include targeted emails with personalized product recommendations,  web page presentations showing customer  products that may be of interest to customers based on past purchases and browsing history, and chat conversations with customers' shipping information. . Products purchased by customers or other personalized interactions.

Change is  happening. Salesforce showed that in 2018, only 29% of marketing executives were using AI, but by 2020, 84% were using AI. IDC forecasts that by the end of 2021, global spending on AI hardware, software and services will be $340 billion.

Automated marketing keeps data up to date without intervention.

One of the biggest challenges  brands face today is being buried in data coming from a variety of channels including mobile apps, mobile search and shopping, websites, store information, support requests, chat history emails, mobile voice calls, and search history. . . , and more. Integrating all this data and getting up-to-date data is almost impossible without the use of AI. Baidurja Mani, CEO and Founder of SellCoursesOnline, said, “Automated marketing is a new trend in the business world that has proven beneficial in customer retention. “This AI-powered marketing allows businesses to update customer data  without manual input, making them more productive. It saves a lot of time that could be spent on . It also helps to create personalized customer experiences by studying customer behavior and engagement.”
Customer retention is very important to Mani, which is why his brand tends to focus on customer service rather than spending money on other things. "Over the past year, we've found that 63% of our sales come from repeat customers, and we've dedicated some of that sales to focusing on the customer experience rather than marketing."

AI and Machine Learning Can Predict Consumer Trends

Marketers are beginning to realize that the success of their marketing campaigns depends to a large extent on their ability to accurately predict customer behavior. AI and machine learning applications can analyze historical data from social media, news, purchases, reviews, searches and reviews to more accurately predict consumer  trends and behavior. “Using artificial intelligence in marketing allows companies to predict customer behavior before patterns are formed, enabling them to deliver exactly what their customers want, at the right time. Of course, you need to gather the right data, but artificial intelligence technology can predict and predict consumer trends in ways that can dramatically increase the success of your marketing campaigns, said Stephen Light, Co-Owner and Chief Marketing Officer of Nolah. mattress.

Light says customer retention is what really creates a personalized experience. When a brand gives customers exactly what they want, they are less likely to outsource their brand to a competitor. “Using artificial intelligence technology can reduce the staggering task of examining the history of each existing customer to determine their preferences. In other words, you just need to act on the data provided by your customers. Saving time and money  for centuries”.

Personalized Recommendations

Most of us are now accustomed to seeing messages like "You may be interested..." or "Customers who bought this product also bought this product" when searching Amazon, Netflix or Prime. AI- and machine-learning-powered recommendation engines can show you movies, products, or services that your customers might be interested in, based on past purchases or viewing history.

Chelsea Cohen, co-founder of SoStocked, Amazon's inventory management software provider, told CMSWire that artificial intelligence and audience segmentation could help brands recommend more attractive products to their customers. “As an Amazon marketer and SaaS leader, I want to use AI as a cutting-edge marketing method. Segmented email marketing encourages repeat purchases with personalized mailings. Personalized order sequences allow our customers to meet their individual needs."

AI can use a customer's purchase history to recommend products in subsequent emails, which encourages customers to continue buying from your brand. “E-commerce brands should consider including recommendations in their follow-up emails,” Cohen suggested. “This strategy encourages customers to shop again, especially if their initial purchase has gone well.”

AI also supports consumer behavior It helps to improve marketing strategies  based on: “AI can help  identify trends that interest customers. Revenue reporting and marketing analytics can be used to shape strategies by providing insight into consumer behavior, positive or negative,” said Cohen.