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The Real Customer Benefits of AI in Marketing

   

Added on  2023-04-20

6 Pages1169 Words360 Views
Data Science and Big DataArtificial Intelligence
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Running head: MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
Name of the Student
Name of the University
Author Note
The Real Customer Benefits of AI in Marketing_1

1MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
Introduction:
The article titled “What are the real customer benefits of AI?” discusses how
Artificial Intelligence can be used in marketing to enhance customer experience by making
the interactions with the customers more engaging and personalized instead of the ‘one glove
fits all’ approach. The article suggests that usage of AI and an increased preference of
customers to use AI based applications have significantly helped companies such as TGI
Fridays to significantly improve their sales (marketingweek.com, 2018).
Marketing issues illustrated in the article:
The important marketing issues that have been addressed in the article are:
a) How to use ‘big data’ more effectively to support the marketing campaigns: AI can
help to extract meaningful insights from customer data such as their preferences from
their purchasing behavior to generate suggestions of products they are likely to
purchase thus providing leads to the marketing team (Erevelles et al., 2016).
b) How AI can enhance/improve customer experience: AI can be used to enhance
customer experience by engaging them in a more meaningful and personalized way,
allowing the customers to interact directly with the AI interface or giving customer
suggestions for different products. This can help to implement a more customer
centered approach in marketing thereby helping to improve their experience (Deb et
al., 2018; Bolton et al., 2018)
c) Targeting the right audience with the right content: AI can also be utilized to reach
the right customers with the right information based on ‘big data’ and therefore focus
the marketing activity on appropriate customer profiles (Syam & Sharma, 2018).
The important stakeholders
The Real Customer Benefits of AI in Marketing_2

2MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
Use of Artificial Intelligence in the process of marketing can have a wide impact.
Discussed are the main stakeholders who can be impacted by Artificial Intelligence:
Customers: They are the main stakeholders, who would be impacted by the implementation
of AI, as it can help to enhance their experience as customers, provide them a more
personalized interactions based on their individual preferences. However, one potential
adverse impact can be the loss of privacy due to misuse of their information (Deb et al.,
2018).
Companies: The companies can also benefit from AI as better customer experience can help
to increase their sales and profitability as well as help to create a positive brand image
thereby supporting its marketing activities. However, implementation of AI can be expensive
as well as disruptive as it can cause a complete makeover of the existing system
(Brynjolfsson et al., 2018).
Employees: The employees can benefit from AI implementation by facilitating the flow of
information to them that can help them to perform better. The process can also help to
simplify data processing activities, reduce manual work and thus increase the time available
to the employees. Automation of different manual processes can also increase the risks of
loss of job of employees (Wisskirchen et al., 2017).
How to respond to the issues and why is it important to address those issues.
In order to ensure future sustainability of the business, it is important that the
marketing challenges and issues be addressed and strategies developed to overcome or
circumvent them. Discussed below are some strategies:
a) Supporting marketing with ‘Big Data’: ‘Big Data’ is a collection of random
information related to customers, their past purchases and buying behavior. AI can
The Real Customer Benefits of AI in Marketing_3

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