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Using AI To Maximize Marketing ROI - Growth Channel-2
Using AI To Maximize Marketing ROI - Growth Channel-2
Using AI To Maximize Marketing ROI - Growth Channel-2
Marketing ROI:
6 Use Cases
By Hailey Jennato
Executive Summary
AI is rapidly changing the world we live in, and the field of marketing is no
exception. Businesses implement artificial intelligence in various ways to increase
efficiency, maximize their returns, and produce the best possible experience for
their customers. Yet some marketers still prefer more traditional methods and are
wary of AI practices. However, they likely don’t realize all the ways they’re already
using AI. Autocorrect, GPS, voice-controlled home assistants, Netflix suggestions,
recommended purchases on ecommerce sites, and search engines are all examples
of AI we use everyday without even realizing it. AI software isn’t just for large,
established companies anymore. Startups and businesses of any size can greatly
benefit from implementing various AI programs too.
Too many marketers and communicators are waiting for that big
memo to arrive that says ‘okay, get ready, AI is coming.’ AI is not
coming because it's here, and it's only going to become a bigger
and more pervasive part of our work and our personal lives.
Source: Forrester
Source: Forrester
Arimo Behavioral AI uses deep learning to predict demand for various SKUs across
different locations so retailers can better manage staffing and inventory. It also
monitors an online shopper’s web activity to predict their next actions and
probability of purchase. According to Arimo, retailers see up to a 3-8%
improvement in gross margins when applying machine learning to their analytics.
Arimo also helps manufacturers predict when machines will break down and
determine the drivers of downtime and poor quality.
Oribi makes it easy for customers to track their analytics and understand what their
key metrics actually mean. Oribi highlights the most important data points, spots
channels that acquire and convert the most prospects, and finds correlations and
patterns in customer behaviors. Upscope, an interactive screen-sharing platform
built for onboarding and support, used Oribi to determine what types of blog
content were driving the most conversions. After promoting their most successful
posts, Upscope saw a 20% traffic increase within 16 hours. Unclockable, an e-
commerce platform known for its 'feel good' gender affirmative products, used
Oribi to drastically increase sales. According to Founder and CEO Maddie Bleistern:
“With Oribi’s correlations, we realized our visitors need more product information
before they’re ready to buy. With some changes on our website... we’ve literally
tripled our conversion rate.”
For example, a bot can be set up to automatically reply to every user that
comments on a social media post. In 2017 and 2018, HelloFresh used their chatbot
to automatically send Black Friday promo codes to users who commented the right
answer to a raffle posted on Facebook. The campaign had a 68% conversion rate in
2018, with over half the recipients using their promo code to place an order.
Like Chatfuel, Exceed also offers a website chatbot designed to convert visitors into
leads and schedule meetings with sales reps. Comeet, a task-oriented recruiting
platform, integrated Exceed’s chatbot into their Hubspot CRM. As a result, they
were able to approach 175,000 website visitors through chat, schedule 200
additional meetings, and engage with over 3,000 contacts that would’ve otherwise
been lost.
MobileMonkey lets users create chatbots and integrate them across multiple
platforms, like web, Facebook, Instagram, and SMS. Plus, all messages can be
managed in one central inbox. According to MobileMonkey, 75% of customers
rather message a business than email or call, and their users typically see a 20%
click-through rate with Facebook Messenger chatbots.
Source: Exceed
Pattern89 uses creative intelligence to help marketers pick the colors, copy, and ad
designs with the highest chance of success. Pattern89 analyzes five hundred billion
data points, helping companies predict what creative will be the most successful,
before campaigns even launch. Ad-Flex Communications, a marketing agency, used
an A/B test to compare the success rate of campaigns run with and without
Pattern89. At the end of the two week study, the ad-flex team found that the
campaign assisted by Pattern89 had a 439% higher conversion volume and 11%
more impressions.
IBM Watson Advertising Accelerator helps companies make their digital creative as
effective as possible. It uses artificial intelligence and machine learning to analyze
real-time data signals and automatically predict the best combination of creative
elements for each user. The Ad Council used Accelerator in their “Love Has No
Labels” campaign and saw a 113% lift in CTR from the start to the end of the
campaign and a 69% increase in conversions. They also learned what types of
creative resonated most with different audiences.
Besides just building customer profiles, marketers also use AI to identify and
automatically engage with potential leads. For example, Seamless uses AI to find
and recommend ideal contacts and leads to B2B companies. Their 10-step AI engine
researches and verifies emails and telephone numbers in real time, so sales reps
don’t waste time engaging with old or outdated contacts. Objection.co, an online
reputation tech platform, used to schedule 1-3 appointments each week, but after
implementing Seamless, they were booking 50 appointments per week. They also
saw a huge increase in engagement. “We have a 25% engagement rate, meaning
that 25% of the leads we reached out to actually communicated back,” says Founder
Curtis Boyd, and these higher-quality leads have led to huge revenue boosts.
Conclusion
Artificial intelligence is the future of marketing, and it offers numerous ways for
businesses to improve efficiency and effectiveness. As consumer expectations
continue to rise, it is imperative that marketers keep up with new technologies and
trends so they can stay one step ahead of the competition. AI analyzes massive
amounts of data and predicts trends accurately, helping marketers make better
decisions and optimizations that lead to more conversions and ultimately increase
the bottom line. By letting AI write content, communicate with customers, and
automate repetitive workflows, marketers can better satisfy customer needs and
save time for more important tasks.
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