Welcome to our Friday Five. Each week, our goal is to give you a run-down on 5 of the top stories on the topic of AI in Marketing. Think of this as that TL;DR of those stories you meant to read or might have missed.
Marketing AI: A win-win
AI, machine learning and algorithms sound intimidating? How does “knowing which customers to target? Or which customer is likely to convert?” That is exactly what AI and machine learning can help marketers know.
“Predicting the possibility of a given prospect to convert
Predicting at what price a prospect is likely to convert
Identifying customers that are most likely to become repeat buyer”
AI Myth Busters: AI Will Usher In An Era Of Extreme Personalization
Sticking to our theme of myth busting AI for you every week. Here are they are again. AI is too complex? Are you afraid AI will take away your job?
“In reality, AI isn’t as complex, scary or confusing as James Cameron and “The Terminator” would have you believe. Many of today’s AI-powered platforms are designed to plug and play into existing martech stacks, eliminating the need to rip and replace incumbent technology systems”
Are You Ready to Make The Shift to A.I.?
Now that your myths are busted? Are you ready to shift to AI? IDC forecasts a 54% growth in Marketing spend on AI software over the next four years to more than $2 billion in 2020. Why? Because AI and machine learning (ML) can help marketers identify patterns to guide better marketing decisions.
“Data is unquestionably the domain of A.I.”
Collecting data and fixing data silos are the first steps to get started with AI. Read more on how to get started with AI
4 Ways You Could Be Incorporating Artificial Intelligence Into Your Marketing Strategy
Have you ordered coffee from Alexa? It is fun at first, and soon a habit that saves time in our busy lives
“As customers become accustomed to AI-powered solutions like Starbucks’ Alexa offering, they’ll expect the same from their local businesses.” That means it’s more important than ever to start considering how artificial intelligence can positively impact your business model.
Processing data, personalization, customization and pricing – read more on how you could be incorporating AI into your marketing strategy
From Blueshift: 3 Lessons from StitchFix IPO on AI and personalization
And finally, from Blueshift. And we say, “Human+AI = Magic!” Why? See StichFix.
The StitchFix IPO emerged from the realization that personalization for each and every customer can be scalable — thanks to data science, algorithms, and artificial intelligence
The guiding philosophy is that every customer is different and every experience should be different. At StitchFix, no two shipments are the same and the algorithm learns more about you. Read more about how StichFix leveraged AI and data science to deliver personalization to every user.