AI Driven Marketing



AI Marketing helps marketers leverage technology in order to create a better customer journey which results in a boosted ROI. Big data analytics and machine learning can be used to gain insights on a company’s target audience. These insights can help create better customer touchpoints and thus the use of AI eliminates the guesswork involved in customer interactions. The way machine learning and AI affect various touchpoints of the RACE model can be seen from the following figure.




OYO Case Study: India’s leading hotel network OYO is probably one of the best examples of a company leveraging AI in order to increase revenue.
OYO turned to Blueshift to increase their personalized marketing efforts. The company claimed to be using a mere 30% of their customers data and said they lacked an understanding of their customers on a personal level. Blueshift was given the responsibility of increasing their number of bookings and QoS. Blueshift first analyzed OYO’s online and offline data using AI and thus got an idea of how customers behaved online thus getting a better understanding of their customers in real time. They then used AI and were able to help marketers personalize and create targeted recommendations to corresponding relevant customer segments.

These 1:1 AI based marketing efforts increased the booking rates by 5 times in a mere three months! The use of geolocation tracking in order to trigger campaigns, send out price drop alerts and booking and destination recommendations helped improve the company’s customer’s experience.

The above example shows how humans have viewed technology has progressed over the years and is likely to continue progressing. AI is believed to expand the traditional marketing funnel from awareness, acquisition and loyalty parts to an improved customer journey leading to better engagement with customers.

References:

https://www.sas.com/en_ie/insights/articles/marketing/ai-marketing-what-does-the-future-hold.html

https://www.ama.org/marketing-news/the-past-present-and-future-of-ai-in-marketing/

http://www.jamescannella.com/wp-content/uploads/2018/04/Cannella_J_Spring_2018.pdf

https://www.forbes.com/sites/forbesagencycouncil/2019/08/21/how-artificial-intelligence-is-transforming-digital-marketing/#42adac6521e1

https://www.smartinsights.com/tag/artificial-intelligence-ai-for-marketing/




Comments

  1. RennerFebruary 25, 2020 at 8:28 AM

    Very well written article Akshay. Keep up !

    ReplyDelete
  2. UnknownFebruary 25, 2020 at 9:01 AM

    Very nicely explained and well written article Akshay.

    ReplyDelete
  3. UnknownFebruary 25, 2020 at 9:07 AM

    Very well written 👍

    ReplyDelete
  4. UnknownFebruary 25, 2020 at 9:10 AM

    Very well written 👌👍 . Keep it up.

    ReplyDelete
  5. Wayne DFebruary 25, 2020 at 9:14 AM

    Great work bro 👍

    ReplyDelete
  6. UnknownFebruary 25, 2020 at 9:45 AM

    Very well written

    ReplyDelete
  7. UnknownFebruary 25, 2020 at 10:02 AM

    Very well written 👌

    ReplyDelete
  8. GleritaFebruary 25, 2020 at 10:30 AM

    Very well written article Akshay. Keep up the good work!

    ReplyDelete
  9. MelissaFebruary 25, 2020 at 1:24 PM

    Interesting insight of AI in marketing

    ReplyDelete
  10. Aishwarya VenkateshFebruary 25, 2020 at 4:33 PM

    Very well explained, thank you for sharing.

    ReplyDelete
  11. Sumesh S DasFebruary 25, 2020 at 4:34 PM

    Very Informative

    ReplyDelete
  12. Aniket MalvankarFebruary 25, 2020 at 5:47 PM

    Short but very on point data provided in the blog.
    Great Akshay!

    ReplyDelete

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