AI & Marketing: What You Need to Know to Boost Your Customer Life Time Value!

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Artificial Intelligence (AI) is edging its way in every frame of our conventional lives. From Siri helping us in finding information, giving directions, sending messages to self-driven cars, we are surrounded by artificial intelligence devices all around. The latest and most interesting example of AI is Sophia- a social humanoid robot developed by Hong-Kong based company, an AI device that acts completely like human and has received a citizenship too!

Besides being a part of routine tasks, AI is all geared up to re-define the marketing trends globally. Earlier, marketers were hesitant to incorporate the AI into their strategies, but with time they have realized that AI is an ultimate tool to augment their ideas along with adding value to their brands and enhancing the lifetime value of customers. AI is a free-flowing river, merging in the ocean of digital marketing and creating visible marketing trends like-

  1. 1. Highly personalized user experience-Personalized user experience means delivering such content, experience, and functionality to the user that matches their needs through the system being used by them. The users are asked to create their profiles and then the interface is adjusted according to their

Some techniques widely used to create a personalized experience for the user-

  • Push notifications – presenting customers with the content that is highly relevant. Netflix presents recommendations for viewing data that feels tailor-made.
  • Personalized features -providing information to customers that is specific to them. Apps like Fooducate, Lifesum etc provides data relating to the foodstuff that is good/bad for an individual customer calculated according to the daily diet, weight, age etc.
  • Location-based facilities- Apps like Zomato suggests you buy food from places that are nearest to you.
  • Saving the last action for reopening- On abruptly shutting an app, a customer wants to restart from where he left. Such feature should be provided keeping in mind the security factors.
  • Real-time shopping recommendations, by analyzing purchase history of the user.

These features provide the ‘Human Touch’ that every customer desires and makes them forget that they are dealing with machines. A speedy and genuine care will always remain in the mind of your customers to develop a lifetime bond.

2. Flawless post-purchase services – Every seller is aware that their work does not stop after making a sale. In fact, a greater task of retaining the customer begins. AI has made it easier for the seller

  • By introducing chatbots which are available 24*7. They can handle thousands of customer at one time, provide maximum satisfaction to consumers and automate repetitive work. Companies like Domino’s and Taco Bell are already using chatbots to arrange delivery of parcels.
  • By predictive customer service that lets you know in advance when and why customers will be reaching out for help by analyzing the trends of customer queries.

If you are there when your customer needs you the most, the customer will be there for you Always!

  1. Predictive Marketing – The browser history of a customer is used for AI analysis to reveal information such as user behavior, needs, and future actions. This information is further used to optimize marketing and provide the most relevant information. Use of AI-enabled algorithms to create campaigns will be challenging the SEO techniques in a huge way but will certainly assist in engaging customers by-
  • Customer lifecycle analytics that can convert one-time purchasers into repeat customers, building greater value from existing customers.
  • Helping smaller e-commerce merchants to stay competitive
  • Identifying customer targeted promotions
  • Improving lead scores by focusing on measurement terms customer lifetime revenue, profitability, and promotion response.

Knowing what a customer wants, before the customer himself realizes it is what creates a customer for a lifetime.

  1. Use of Visual analytics – Visual analytics is a form of analytics that displays visual data extracted from images and videos. The world population shares approximately 3 billion photos a day, this humongous volume of images is leveraged by AI to understand consumer patterns, behaviors, and needs. AI software will look for images in the social media to compare it to a larger library to draw conclusions.

Ways in which AI in Voice and text recognition can assist in developing a lifetime value of customers-

  • Competitive advantage by monitoring trends in real time. You can gain knowledge about what the users say about your brand along with what they think of your competitors’ brand.
  • Strengthening of CRM and lead strategies as image recognition can help marketers avoid disconnected technologies by integrating it into their own systems.
  • Marketers can track how well a sponsorship is doing with image recognition and logo detection which makes it easier to detect how much revenue they will return.

Today, customers have the liberty to find out the value of any commodity before buying it. Customers can also easily find out if a brand cares about them or their needs. With artificial intelligence, businesses can capture data, analyze patterns and create a culture that focuses on enhancing the lifetime value of the customer and strengthening the quote ” once our customer! forever our customer!”

If you need to better understand how to integrate AI with your marketing efforts, please write to us at support@nhancenow.com and we’ll be more than happy to help!

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