In today’s digital age, artificial intelligence (AI) has become an increasingly important tool in lifecycle marketing, enhancing automation and providing access to customer data for more personalized customer experiences. AI has improved marketing in many ways, from recommending the next best action to customers with targeted messages to optimizing offer timings and influencing more conversions. AI-based automation provides businesses with the ability to analyze customer data in real-time, allowing for targeted messaging for different segments of customers and enabling businesses to reach deeper insights. AI-powered marketing can also save time with automated workflows that can personalize each step of the customer journey.
Additionally, AI-powered marketing can help marketers make better decisions by using artificial neural networks to create predictive models. AI tools can even be used to quickly analyze marketing performance. All of these features provide marketers with greater insights and the ability to make more informed decisions when crafting marketing campaigns that will ultimately improve overall customer engagement.
I was so excited when ChatGPT was released last November, as it gave marketers the opportunity to explore and experiment with AI in new ways. Not only does AI present newer, more efficient ways of acquiring and retaining customers, but according to a KPMG study, organizations that invest in AI experience up to 15% productivity improvements.
By 2025, Gartner predicts that most marketers will have more freedom to be strategic rather than managing production tasks. Though this new technology is alluring, it can be overwhelming sifting through all the AI options available. As brand stewards, we need to remember that misusing AI can result in costly reputational damage. So, it's important to be careful and intentional in our experimentation.
I'm sure you've been wondering how AI will impact the customer lifecycle. Here are thoughts to consider:
Revving up with AI
As marketers prepare to turbocharge their decision-making with AI tools, it is critical to recognize that the valuable data source is what’s under the hood. AI tools must be built on large volumes of rich, varied data for efficient and effective outcomes. Searchable data is widely accessible and can provide good baseline insights, but it lacks any distinguishing qualities that could be a powerful driver of competitive advantage. To get ahead of the pack and maximize ROI with AI, smart marketers are beginning to scout for enterprise data that's truly unique – like deep relationships or broad aggregated insights that accurately reveal the customer journey. Get your engine running with AI and rev up your success!
AI providing power and privacy in targeting
The ad ecosystem has had to adapt since Apple introduced its new privacy standards two years ago. AI-driven solutions are increasingly used to deliver the same functionality and targeting precision as before, without compromising on privacy. These solutions include automated contextual advertising, leveraging anonymized data to develop models that can optimize campaigns, and giving platforms and advertisers across devices the ability to deliver accurate and fast machine learning and AI recommendations. Through these innovations, advertisers can maintain control of their targeting functionality while keeping an absolute priority on user privacy.
Faster Creative Iteration
The shift from traditional to digital advertising is showing no signs of slowing down, and companies are now needing an increased volume of creative assets to keep up with the demand. Generative AI tools are here to help, taking care of the tedious tasks of creative production while allowing creatives to focus on more brand-building ideas. Nestle, for example, utilized a custom AI to help their team create ads with greater ROAS. Meta’s Marketing Mix Model showed that ads with a “creative quality score of above 66% had a 66% higher ROAS”. AI has come a long way, but it’s still important to have human oversight to avoid any mishaps. With the help of generative AI though, companies can now efficiently produce more frequent and iterative creative for digital campaigns.
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