Machine Marketing is always evolving. For businesses to fully harness the numerous benefits and opportunities that digital marketing offers them, they need to stay ahead of the curve. This means that have to always be in the know as regards industry disruptions.
One technology revolutionising almost every industry now is machine learning.There has been a lot of rave about this technology, particularly in marketing. Despite the nascence of ML, there have been practical examples of its influence in digital marketing. This article will open your eyes to the way ML will shape digital marketing, giving you more than enough insight to capitalise on this new technology.
What is Machine Learning?
Machine learning (ML) is a technique of data analysis that aims to automate the building of analytical models. ML is a subset or branch of Artificial Intelligence that is based on the premise that machines and computers can learn from data, observe and detect patterns and make the best decisions based on them, all with little to no human intervention.
Machine learning allows computers make decisions and improve those decisions overtime without being explicitly programmed to. To achieve this, machine learning focuses on using a mix of statistical techniques, mathematics and computer programming to help computers act “smarter”.
Machine Learning influencing Marketing
Now that we know what Machine Learning is, how do we relate it to marketing? There are indeed several ways by which ML is already influencing marketing. Some years ago, marketers were unwilling and cautious in adopting machine learning into their marketing strategy, but things have changed. A survey by Salesforce has revealed that at least 51% of marketers already have machine learning incorporated into their strategy, with 27% more marketers looking to adopt it in 2019. Below are six ways machine learning will influence marketing:
Creating and generating better Content
Machine Learning can help marketers in the creation and generation of good content. The area of Natural Language Processing (NLP) in ML can help marketers to understand and analyse keywords in their industry and amongst customers, helping them plan their content strategy. Also, if marketers are too lazy to write, there is good news. Yes, machine learning can help you write content.
Marketing Campaign Analysis
If you want to better understand your marketing campaigns, ML can help you achieve this more effectively. Regular dashboard reporting may not reveal all there is to know about marketing campaigns. However, with the use of machine learning, hidden insights and statistics about various marketing campaigns can be uncovered. This will help marketers better understand the most profitable marketing spaces to target and increase return on marketing spend.
These days, the effectiveness of email marketing is constantly being questioned, as there are always low open rates. ML can totally change this as it can help you make more informed decisions about your email marketing. Machine learning can analyse customer data to reveal the best email subjects, the best days of the week and time of the day, as well as frequency to contact customers. In fact, one AI marketing firm has stated that the use of machine learning to craft email subject lines can improve click rate by over 95% when compared to those generated by humans.
Chat bots have been on the rise in recent years, growing 5.6x over the last year. They also help businesses communicate with customers without any human interaction and at minimal cost. This is increasingly important as 51% of customers say they want a business to be available 24/7. Chat bots can help improve communication between businesses and customers, as well as help with marketing products.
These days, customers want to feel special. There are several people and brands on the internet, what sets yours apart is how a customer perceives you to be. Personalisation is the key to achieving this close relationship with customers. ML can help you create personalised marketing content for potential and existing users, all based on analysis of data.
Predicting Customer Churn
Machine learning can help marketers know well beforehand when a customer is likely to leave their brand. This single information will make marketers proactive and help craft strategies to help prevent the customer from moving on.
The need to harness the potential that ML brings to digital marketing cannot be overstated. 3 out of 4 businesses using machine learning for marketing have improved their sale of new products or services by more than 10%. There is no doubt that machine learning will have an even stronger influence on digital marketing in the coming years.