Mihir Nanavati is a featured contributor to The Impact of AI on Modern Marketing: 50 Categories Ranked, 70 Experts Sound Off report.
Here's the complete contribution:
While the term “Artificial Intelligence” is widely thrown about, we do not foresee general AI taking over human oriented marketing activities anytime soon. Yet, there are meaningful specialized applications of AI to marketing that not only alleviate much of the guesswork in today’s marketing efforts but also deliver significant improvements to business results.
These specialized applications of AI go beyond analytics and provide clear answers to vexing questions about segmentation, messaging and ROI such as “these are the people you should target because they are most likely to buy”, or “messaging more than three times in these users' onboarding journey will be counter-productive” or “these are the customers who are most likely to have the highest LTV - go acquire more like them”.
When marketers can get answers to questions like these with AI powered solutions, they will be freed up from the shackles of ineffective software and the tedium of running campaigns. Campaigns, segments, email cadences etc. will be dead and replaced by automated goal optimization systems that are truly individualized and drive helpful conversations with consumers.
At that point, marketers can finally go back to marketing. The term, marketing, is a derivation of the Latin word, mercatus meaning market or merchant. Marketers become facilitators, specialists, and optimizers of buying and selling at a (virtual) market.
“Alexa, what brand messages do I need to change today to increase my sales?”
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