The year ahead for AI-driven marketing, by Prism Digital’s Lovetto Nazareth

From market research to influencer management, artificial intelligence can offer marketers a lot more than chatbots, writes Prism Digital’s director Lovetto Nazareth.

There has been a lot of buzz about AI lately and for all the good reasons. AI-driven technologies are becoming increasingly popular and are being used in various industries, especially in the marketing arena.

Marketers are using AI for so much more than just chatbots. AI is being used for predictive marketing, keyword analysis and budget management as well, and this is surely not the end.

Data suggests that AI-driven marketing is indeed replacing traditional marketing at a rapid rate. In fact, some pundits even go on to say that you either get on the AI bandwagon or get run over by it.

If we analyse the industry, we notice that AI-driven technologies show more potential in some areas than others. Let’s discuss the ones that the experts believe will benefit from AI the most.

AI in market research

Artificial intelligence is emerging as a disruptive force in the field of market research and is changing the very way in which we conducted market research. Traditional methods of market research are both expensive and time-consuming. AI is making it much easier to gather, segment and interpret data, and to do so in considerably less time.

In predicting customer behaviour, gathering real-time data from multiple sources using AI is helping marketers make day-to-day decisions, and it is only going to get better from here.

A/B testing ad campaigns

A/B testing, or split testing, has always been used to optimise campaigns and compare campaign performance. However, this method is not entirely accurate. Moreover, it is time-consuming and needs a large enough sample size to show considerable results.

AI, on the other hand, provides a much better and simpler solution. With the help of AI-driven technologies, your marketing campaigns can self-optimise using real-time data and try out multiple combinations of graphics, text and calls to action (CTAs). AI allows you to test not just two but infinite alternatives in real-time, making the process much more efficient and accurate.

AI-assisted e-commerce

The e-commerce industry is evolving and AI is at the forefront of this evolution. AI-driven e-commerce solutions include personalised product recommendations, predicting buying behaviour, inventory management and feedback analysis.

E-commerce experts are using AI-driven technologies to enhance the buying experience and to research real-time data to find out the product demand and competition in the market. Newer and better algorithms offering innovative solutions will further enhance the user experience, increasing ROI for businesses.

AI in brick-and-mortar retail

It is not just e-commerce that is being revolutionised by artificial intelligence; brick and mortar stores are also incorporating AI-driven technologies. Some people might even think that brick-and-mortar stores are soon going to be obsolete, but that’s not going to happen any time soon. Instead, they are transforming and the underlying force is again artificial intelligence.

A huge example is Amazon Go, which is a smart AI-driven physical store. People can go to the store, pick up whatever they want, pay via the app and leave without any human interaction. Now, that’s what I call the future.

AI can assist in enhancing the customer experience by giving personalised product details and allowing customers to virtually try on products. Facial recognition is another area that can allow companies to identify customers and deliver tailored experiences. It is just the start and this trend is only going to grow.

AI-driven influencer marketing

Influencer marketing is extremely effective, but it is a time-consuming process. It can take a lot of time to find the right influencers, contact them and manage the relationship. But this manual process will soon be a thing of the past. AI will help us find top influencers depending on a brand’s needs and target audience, connect with them, collaborate with them, and do it all using smart platforms.

QLIQIR, an AI-driven influencer marketing platform, seeks not only to automate their discovery but also vet and manage them so that brands can scale their campaigns and get all this done at a fraction of the cost.

AI-driven copywriting

Copywriting has always been an integral part of any marketing campaign, but it is time-taking and complex. Marketers find it hard to create copy for several reasons, including lack of time or lack of skill. AI, however, has made it much easier to generate tailored copies in no time. The use of AI-driven copywriting assistants is growing steadily.

The use of AI in marketing is not only confined to these applications; there is so much more to it. Deep fakes are going to make it much easier for brands to collaborate with celebrities, the advent of augmented properties in the metaverse is still in its early phases and the use of AI in crypto and NFTs is known to everyone.

There is still some skepticism about artificial intelligence but it’s high time we stop running away from it and embrace it with open arms.