The proposition for individualized marketing is compelling. Businesses that succeed in personalization are 48% more likely to have surpassed their revenue objectives than those with “low personalization maturity,” and nearly 75% of consumers are more likely to buy from brands that offer tailored experiences.
For this reason, Forbes called it a necessity rather than a luxury, while McKinsey & Company said it’s “not only a crucial capability; it’s one that punches above its weight.”
However, personalization presents a number of difficulties. The barrier to entry has been high due to audience segmentation, custom content production, intelligent activation, and data privacy and accuracy. We’ll look at how artificial intelligence (AI) is altering all of that in this post. facilitating mass personalization for brands more easily than ever.
So, how is personalization becoming more accessible with AI marketing? Where can it make a difference? And how can AI be used to enhance the client experience?
How AI Marketing Can Assist With Large-Scale Personalization?
- Recognizing Valuable Clients
Only 4–44% of the time is audience categorization based on age targeting accurate.
In the past, brands have categorized audiences using demographic information such as age, geography, gender, and a hunch about what particular consumers could find appealing. With the proliferation of data, marketers were able to target clients more precisely and individually by contacting them by name or based on their past purchases. AI has now upped the bar once more, enabling segmentation marketing in a much more dynamic and efficient manner, giving brands a comprehensive, omnichannel view of activity in real-time, and enabling brands to examine all interactions with individual customers.
Consider the case of Touring Club Suisse (TCS). With 1.5 million members, TCS is the biggest mobility club in Switzerland. “Our members are at the center of everything we do,” the company says. We stand out from the competitors because we are customer-centric,” says Bernhard Bieri, Director of TCS’s “Business Unit Club.”
According to Bieri, TCS accomplished this by using predictive analytics and a central platform driven by AI “to implement segmentation marketing and follow up with offers that match their interests at different stages in the sales funnel.”
You may use these AI tools to contact customers at the right moment through the right channel, make better judgments about their needs, and concentrate resources on the most potential prospects. “We can determine the optimal time to send communications, so they’ll have the biggest impact and highest engagement rates,” Bieri added.
Important Lessons Learned:
Make use of real-time data: Your chances of converting customers increase with the speed at which you respond to their purchasing signals. Real-time tracking, contextualization, and response to consumer purchasing signals can be facilitated by AI.
Optimize resource allocation by letting AI direct you to the most promising consumer segments. A higher return on investment can then be achieved by concentrating your efforts where they will have the greatest impact.
Boost relevance and timing: You can use AI to determine when it’s best to contact customers. This guarantees that when customers are most inclined to interact, your messages will be understood.
- Personalising Content At Scale
Globally, 73% of consumers anticipate greater personalization as technology develops.
A thorough grasp of the requirements, difficulties, and preferences of the consumer is necessary for content personalization. AI may quickly provide insights that marketers traditionally had to search through mounds of data to obtain in order to personalize engagement with target accounts. AI enables organizations to scale segmentation and personalization marketing without sacrificing quality through customized emails, messages, and content.
In just two years, the finance business GoHenry doubled its clientele thanks to this strategy. “Its AI-powered platform helps teams to identify high-value segments faster so [they’re] able to target them with relevant, personalized messaging,” says Sonia Lele, Senior Director, Data Science at Salesforce.
AI-powered chatbots assist customers with their inquiries by connecting them with the most appropriate free agent for complex issues. Customers can communicate with agents via their preferred channel, such as social media, live chat, phone, or email. By implementing AI in this manner, you may enhance marketing metrics and personalization at every point of the customer journey.
Important Lessons Learned:
Use predictive analytics to remain ahead of the game with insights powered by AI. By anticipating your clients’ next needs, you may proactively engage them with tailored offers that are effective.
Make use of AI-powered assistance: Your client service will be more successful if it is provided more quickly. Chatbots driven by AI offer personalized information, cut down on wait times, and increase customer happiness.
Scale of personalization: Scaling up the delivery of tailored content aids in improving client retention. AI allows you to customize images, tone of voice, and information to the individual preferences of your clients.
- Combining Marketing And Sales Initiatives
Formula 1 uses AI-powered automated chatbots to increase fan happiness to 88% and first-call resolution to 86%.
Better alignment between marketing and sales through shared insights and data is one of AI’s greatest advantages. By working together on segmentation marketing, scoring, and targeting based on account attributes and spending habits, both teams can interact with prospects more successfully.
This is what enabled Formula 1, which engages with thousands of fans, to convert its recent rise in popularity into more steady, long-term growth and fan loyalty.
Data was not in sync behind the scenes, and team communication was lacking. “We’ve improved the processes, templates, speed of resolution, tooling, and how our teams navigate” with an AI-powered data platform, stated Matthew Kemp, Senior CRM and Customer Operations Manager for Formula 1.
All teams can see where prospects are in the sales lifecycle thanks to data that is connected and shared on an AI-powered platform. This gives you more in-depth knowledge about scaling growth.
Important Lessons Learned:
Align Marketing and Sales: Improved collaboration results from combining Marketing and Sales. You may use shared data and information to coordinate your marketing and sales operations using AI-powered insights.
Data synchronization: Using an AI-powered platform helps your teams communicate more effectively and consistently, integrates your data, and dismantles silos.
Gain insight into lifecycle stages: You can determine where prospects are in the sales cycle with the help of AI-powered platforms. You can interact with potential clients more effectively as a result.
AI Marketing: A Successful Tactic
For CMOs, AI-powered marketing has created a whole new range of opportunities. Targeting high-value accounts and customizing client interaction are now simpler than ever for brands implementing AI. Additionally, a streamlined approach that puts you ahead of the curve is produced when teams are in sync and marketing initiatives are merged.