1/11/2023 - Technology and Innovation

The Future of Marketing: Technology and AI at the Center of Strategy

By Pablo Vailati

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In an increasingly digital world, technology is transforming the way companies interact with their customers and marketing. Tools and methodologies of data analysis and artificial intelligence (for friends, AI) are changing the way we reach consumers and make marketing decisions. It is well known that artificial intelligence is on the rise. This is because it allows us to take advantage of the data available to make accurate predictions about consumer behaviour. Thus, AI helps to plan more effective and personalized marketing campaigns.

How data helps us in Marketing

Data analysis revolutionised how companies collect and use consumer information. Through tools such as online activity monitoring and research analysis, we collect and analyze large amounts of data about our customers and use this information to make more informed decisions about how to get to them and gain their heart.

Today we can analyze consumer interactions with our marketing campaigns and measure their effectiveness, enabling companies to optimize their real-time marketing efforts. For example, if a company knows that its customers often shop online at night, you can focus on sending emails and advertising at that time of the day. In fact, platforms like Google Ads and Facebook Ads allow us to select digital locations and display timetables in a very simple way. Not to mention choosing the audience; Segmenting had never been so easy and effective!Data analysis and artificial intelligence can also help us identify patterns in consumer behavior and predict which products or services could be most popular in the future. Through the use of algorithms and automatic learning, we can customize advertising and online content to adapt to individual consumer needs and preferences. For example, if your company detects, through machine learning-guided advertising platforms, that a customer has been looking for a particular product on your site, you can target it with custom advertising for that product rather than sending widespread advertising.

Análisis de Datos e Inteligencia Artificial en Marketing

Let's see some real examples...

AI can also be used to improve the online consumer experience. For example, the use of AI-based chatbots allows companies to offer a fast and efficient customer service, which can improve consumer satisfaction and loyalty it. An example is that of Inspire IT, software development company that implemented a chatbot for one of the largest companies in Portugal in the energy distribution sector. The company implemented this AI-based tool so customers could get answers to FAQs and solve problems quickly and efficiently. As a result, they could observe a decrease in waiting time to obtain online customer service and an increase in customer satisfaction thanks to the speed and efficiency of the service. In addition, the implementation of the chatbot also allowed to reduce the time and resources dedicated to customer service, which resulted in cost savings for the company.

In Latin America there are some organizations that begin to adopt global trends regarding the use of technology and artificial intelligence to develop solutions to marketing problems. In this sense, market research and commercial intelligence consultants are increasingly using AI in their projects for massive and even industrial consumer clients. So is the case Mindstats Research, an Argentine research and strategy agency that developed a machine learning-based targeting methodology, which uses the information available in its customers' databases to generate consumer groups with similar characteristics.

The technique used by Mindstats is the cluster analysis, used to group consumers into groups or similar clusters. These clusters can be used to target a market in different homogeneous groups in order to better understand the needs, preferences and behaviors of each group. The value of this technique is that the resulting segments share demographic, psychographic and behavioral characteristics, and can be used by companies to design more effective and personalized marketing campaigns. For example, a beauty product company can use this methodology to segment your market based on different characteristics, such as age, gender, socioeconomic level, preferences, motivations, use situations... This would allow the company to develop marketing strategies and specific products for each market segment, which can result in greater efficiency and success in selling your products.

Segmentacion con Analisis Cluster

Challenges and ethical considerations

As technology becomes increasingly important in marketing, it is necessary to consider some of the ethical challenges and considerations that arise when using tools such as artificial intelligence and data analysis.

On one hand, We must ensure that privacy and consumer rights are respected. By collecting and using your data. A well-known example is the case of privacy breach that involved unauthorized use of data from millions of Facebook users by Cambridge Analytica. According to the complaint, Cambridge Analytica used this data to build user profiles and then used these profiles to direct personalized political messages to users during the 2016 presidential campaign in the United States. The case provoked concern and controversy due to lack of transparency and non-compliance with the privacy of Facebook users. As a result, Facebook (now Meta) faced sanctions and fines by regulators and implemented changes in your data privacy and security policy.

In addition, it is necessary to take into account that technology is not infallible and there may be bias or errors in data collection and analysis. Therefore, it is important that companies be transparent about how they use technology and take steps to minimize the risks of this happening. And let's not forget the myths or rumors that doubt the privacy of certain platforms we use every day: for example, everyone has ever passed us through the head that our mobile, or Google, “hears us”.

The use of AI in marketing also raises certain challenges and concerns for companies. One of the main fears is the risk that excessive personalization can be invasive and unpleasant for consumers. Let's consider custom ads. If, for example, a company uses AI to send personalized advertising depending on the consumer location, this could result in an overload of advertising messages that could be annoying.

Therefore, it is important that we use artificial intelligence ethically and responsibly. It is imperative that we consider the well-being and interests of consumers in developing our marketing campaigns. The ethical use of AI in marketing can improve consumer confidence in brand and increase satisfaction and loyalty.

In conclusion, technology, as well as the convenience of artificial intelligence tools and data analysis, are transforming the way marketing is done. These tools allow companies to customize advertising and online content, predict and respond to consumer needs and make more informed decisions about how to get to them. However, it is important that companies take into account the challenges and ethical considerations that arise when using these tools and take steps to minimize the risks of bias or errors.

In the future, we're likely to see even more marketing changes thanks to technology, and it's crucial that companies adapt and use these tools responsibly.

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pablo vailati

Pablo Vailati

Hello, my name is Pablo, I am Lic. in Marketing and Global Business, Specialist in Digital Strategy and Consumer Research. I work as a consultant in Digital Marketing on WebMark and as a consultant in Research in Mindstats. From my academic profile, I am a Research and Strategy Teacher at UADE and Researcher at UADE and ICRC on topics of Marketing and Consumer Psychology. I met my work at https://webmark.com.ar and https://mindstats.com.ar

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