“Gartner correctly predicted that by 2017, the CMO would spend more than the CIO on IT.
However, the cost of acquiring a new customer is five times greater than that of retaining an existing one, and the probability of selling to an existing customer is 60 percent, while the probability of selling to a new prospect is 5 percent.
As AI continues to revolutionize the digital landscape, marketers will increasingly depend on this technology to maximize consumer reach and sales
AI within marketing technology means more effective customer segmentation, advanced and updated customer analytics and efficient marketing strategies. This will create a domino effect where businesses will want to compete in order to capture consumer demand, leading to the further rise of AI in marketing.
Traditional marketing is shifting toward reliance on data analytics, virtual platforms and machine learning through 2019.”