How is Artificial Intelligence (AI) improving personalisation for businesses and consumers?
53% of marketers plan to increase AI spend in the next three years. Source: Lessons of 21st- century brands, AI reports
In an age of hyper-personalisation, good content needs to be tailored to be effective. Let’s take email for example, subscribers are likely to only pay any attention and engage with content that speaks to them directly. That’s why the key to great email marketing is to send interesting content, to the right people, at the right time and the right rate. However, delivering personalised content at the right moment can prove tricky.
The level of personalisation in email marketing has increased significantly as technology like AI, Business Intelligence, Machine Learning, and Cognitive Computing now play a major role in its development. Technological advances make it possible to send emails that have a higher chance of engaging with subscribers and prospective customers.
AI gives brands the ability to match information about its products with the information prospective buyers need at the time and in a format they are most likely to engage with.
AI enabled systems allows a brand to optimise all parts of the marketing process to ensure the greatest amount of personalisation possible. This also stretches across social, display and out of home.
So how do you compete with the bigger brands in this hyper-personalised world?
To succeed it takes innovation, differentiation and providing personalised experiences. It's important to know and understand how elements such as quality of customer service and brand messaging can work in your favour.
It takes truly personalised consumer-centric business model to succeed when competing against the online retail giants. Ecommerce has levelled the playing field. Choice is unlimited, location is irrelevant and even price no longer creates a competitive edge.
Revenue is now driven by an emotional and personalised customer journey and this is what helps conversions. Your audience expects timely, effective communication and an experience that makes them feel as if a brand genuinely understands their personal needs and are attentive to their taste. Millennials in particular prefer to have a personal and emotional connection with the businesses in which they choose to invest their time and money.
So, to take your brand's personlisation to the next what questions should you be asking?
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Do we have the correct technology stack in place?
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What does our data preparation and integration at scale look like?
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What modelling and data science capability do we have?
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Are we outsourcing when we could be insourcing? (or vice versa)
Consult at iProspect is supporting clients to make sure they have the right people, processes and tech to leverage AI to build better consumer relationships through personalisation. Get in touch if we can help you integrate and grow now.
