The introduction of Artificial Intelligence (AI) means that a door has opened to a multitude of potential new technologies your firm can take advantage of. With competition growing at such a fast rate, the need to have a good marketing strategy that leverages this kind of technology is now more crucial than ever.
In recent years, the marketing industry has come on leaps and bounds with affordable, accessible data analytics tools and increasingly extensive datasets—both based on AI methods. With AI becoming more advanced, your IT firm’s marketing strategy could be in desperate need of an update in order to remain competitive.
Reasons for adopting AI into your business
If having a competitive marketing strategy isn’t enough of a reason to consider adopting AI into your firm, perhaps one of these reasons is:
In interviews conducted by Boston Consulting Group (BCG) and MIT Sloan Management Review with over 3,000 business executives, 75% of respondents say that Artificial Intelligence will allow them to move into new business ventures (Forbes, 2017). A revolutionary invention such as AI opens the door to a tsunami of opportunity. Let’s look at another revolutionary invention—the internal combustion engine. This gave way to cars, lorries, aeroplanes, chainsaws, and (if you think about it) suburbs and shopping centres. Such a small contraption paved the way for complimentary creations and companies, such as Uber, FedEx and British Airways. Taking the combustion engine as an example, AI can do similar things for your firm, opening doors to new ideas and solutions to help it grow in directions never thought of before.
With AI picking up pace, more companies have access to higher performing software. This software may help you stay ahead of the competition, or help your competitors get ahead of you. In fact, 84% of respondents of the BCG and MIT Sloan Management review state that AI will enable them to obtain and/or sustain a competitive advantage as they will be able to offer their clients services that their competitors simply will not (Forbes, 2017). This means that, as an IT firm, it is important to considering adopting new technology into your business strategy in order to avoid falling behind.
AI could help improve your current businesses performance. How? Let’s say your IT firm works within Data Protection. You might consider making your detection software smarter and more efficient by leveraging AI. If the software is constantly learning and adapting, then new viruses could be detected and eradicated sooner. This would, in turn, improve the firm’s performance and outcomes and lead to higher growth for the company.
The implementation of AI into business still hasn’t fully been taken advantage of yet, but more and more firms are looking to incorporate its uses into their business—especially when it comes to marketing
To put this into context, around 30% of marketers said they would prioritise AI’s use within the next 12 months (eMarketer, 2017). While this figure doesn’t seem high, if you compare it to a year prior, it’s a significant increase. In 2016, only 13% said they would prioritise AI’s use. This demonstrates that more and more firms are waking up to the use of AI and how it could benefit their business performance.
How will AI improve marketing?
Currently, 60% of marketers envision leveraging AI to create dynamic landing pages, improve social media marketing, programmatic advertising, media buying and to improve websites (tenfold, 2017).
Artificial intelligence means that a system can target a specific buyer and analyse:
- When they are online during the week,
- What time of day,
- How long they spend online,
- What sites they go on, and,
- What they’re searching for.
This means that targeted marketing can become more personable and much more effective as AI can learn an individual’s habits and cater to their needs.
As well as this, AI will become an increasingly sophisticated tool for social media marketing as it can nurture relationships with clients. As a social media tool, it can respond to comments, react to news and learn what time of day posts would have a higher impact. This, in turn, frees up your time so you can focus on other tasks.
To be successful with marketing, you have to be versatile, creative and innovative in order to be effective and grab the right attention. The use of Artificial Intelligence can change the game in terms of the marketing industry, as new software and systems can be used to learn changing trends and gather more informative data to help marketers achieve a higher success rate.
How can we help?
New technologies are being developed to improve our lives every day. As soon as companies start incorporating them into business, growth for a firm could be exponential. It is important to stay up to date with new technologies and to be open to new ways of how to improve your IT firm. At Propero, we are forward thinking and innovative and always looking out for ways to keep our clients ahead of the curve. If you’re interested in the services we offer, please contact us or sign up for our newsletter.