“There’s merit to Blueshift’s approach. A recent report published by Forrester Research found that highly personalized, omnichannel marketing campaigns have the potential to generate four times more revenue and 18 times greater profits than static campaigns.
In practice, Interaction Graph enables marketing managers to manage email, push notifications, text messages, social media accounts, and webpages in one place, and to A/B test and optimize content in an automated fashion. Through Blueshift’s Personalization Studio dashboard, admins can segment users in real time by behavior (i.e., attributes and time frame) and demographic (names and IP addresses), all while proprietary algorithms tabulate predictive scores to identify which users have a high or low likelihood of completing various actions.
‘Marketers need a system that was built ground up with AI,’ said Storm Ventures managing director Tae Hea Nahm. ‘Savvy digital marketers are starting to realize that AI Marketing requires a fundamentally different architecture. Like the early transition to SaaS and now to AI, incumbents will have a very hard time re-architecting their platform.'”
“The biggest question to ask before adopting this technology is: Do we have the data required to successfully implement an AI and ML strategy? Accurate, complete, timely and robust data can be critical for successfully training AI tools to perform tasks and to leverage ML.
As AI and ML capabilities evolve, there are a few foundational items to consider acting on:
• Getting the freshest, most complete and most accurate customer data
• Integrating AI and ML into the customer journey processes rather than treating them as a separate function
• Training people not only to deploy but to understand how best to utilize AI and ML”
“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.”