Upgrade Personalized Marketing with ML and AI

Machine Learning and Artificial Intelligence are making the customer experience more personalized than what most marketers would have ever thought to be possible. Companies are already using Artificial Intelligence and Machine Learning to make their websites, emails, social media posts, video and other content better tailored to what customers want right now. This is going to re-energize the push towards higher customer expectations.
Artificial Intelligence practitioners can leverage many variables which reveal how, when, and what customers shop for. Variables could include factors like contextual data, behavior, demographics, expressed interests, customer rewards programs, seasonal data (such as festival trends), and even local weather information. Machine Learning can identify patterns like customer needs and use them to make predictions. And finally, GPU-based compute power enables us to build ever more complex and usually more accurate models for a huge variety of tasks.

• Granular Segmentation – We can now identify more specific customer types, like (female, aged 20–25, interested in high fashion, is highly price-sensitive), using machine learning-based classification. Knowledge about these fine-grained segments can then inform product development, pricing, targeting, messaging, and performance measurement.
• Accurate Attribution – This allows understanding the customer journey, which channels and touchpoints are effective, and which content drives results. Knowing this can help marketers allocate their budget efficiently to improve their return on investment (ROI).
• Predictive Analytics – This provides insights into customer needs, industry trends, and intent signals, now and in the future. Again, this is useful for marketing strategy, and it can also inform inventory management, which is about determining “how many of which products should I stock at any given time?”
• Predictive Marketing – This lets marketers adjust to customer’s next actions and experiment with personalized experiences, with the confidence that their content will be more contextually relevant that is, delivered via the channel, time, and medium which suits the customer most. Naturally, this can improve the customer relationship.

Clearly AI, ML and Big Data power are bringing about many benefits. A bonus is, that all of this can be done more easily, at scale, and over the whole customer journey from search to loyalty and support. Furthermore, marketing data, like clicks, time-on-page, and purchases, is often high volume, enabling fast model training and making it easier to test personalisation techniques. For consumers, the experience becomes easier, more relevant, personal, and the gap between physical and digital worlds can be bridged.