Another marketing area that AI transforms is personalization. According to data from dotdigital’s Global E-Commerce Benchmark Report 2020, only 5% of brands currently provide contextually relevant content.
As businesses market across multiple channels, it is essential to utilize every piece of data collected to conduct smart outreach. Artificial intelligence enables businesses to predict consumer preferences by collecting and interpreting data to tailor messaging, products and recommendations accordingly across channels, from social media to email. For instance, web metrics, such as response and value indicators, will indicate what resonates with the targeted consumer. Sellers can then predict consumer wants and needs more accurately through AI-powered data mining. This allows businesses to personalize their content in terms of segmentation and targeting.
Digital transformation, which has only been accelerated by the coronavirus pandemic, opens the door even further to security risks. Hence, solutions that help businesses detect and prevent security risks are more needed than ever.
AI’s cognitive computing capabilities are a great asset to risk management and assessment. Cognitive analytics allow businesses to tap unstructured information, personalize services and reduce subjectivity in decision making. With respect to information security, data gathered through sales and marketing programs’ AI solutions can help businesses analyze massive amounts of data, and recognize unusual behavioral patterns at lightning speed. And because AI tools are free of emotions and biases, they can improve the context for prioritization and responses to those risks, making detection and threat mitigation more efficient.
Not only does artificial intelligence detect security risks, but it also helps risk management in terms of managing businesses’ return on investment (ROI). The data gathered through sales and marketing initiatives can power better decision-making and reduce ROI risk. With AI, businesses and marketers can more accurately target their audiences, such as what they are responsive to, which marketing touchpoints drive brand engagement, and how to optimize reach and frequency.
Lastly, it is critical that businesses connect their data across all platforms for a unified marketing perspective. Data silos pose a major barrier to most businesses—a Forrester report found that 72% of firms stated their most significant sales and marketing challenge was managing data and sharing insights across organizational silos. Utilizing data and breaking down these data silos can minimize human error when calculating risk and ROI.
From customer interactions to risk management, enterprises are using AI to streamline marketing workflows, improve predictive capabilities as well as better accommodating customer demands. The data is becoming smarter, so marketers must be, too.
This content was originally published here.