Today, if you want to rule the world of marketing, you need to not only possess information but also find data that are valuable for your business. Knowing that a company has 100,000 faceless clients is not enough – it is vital to understand what they are interested in and what can be offered to them. An easy and effective way to improve marketing performance and increase sales is to use Machine Learning technology.
Machine Learning (ML) is a promising solution in marketing. According to Mordor Intelligence, the marketing automation software market will almost triple by 2026, reaching $19.66 billion. MarTech solutions help to extract insights from the data stream, which can be used to build profitable sales. Such technologies will become a priority in the coming years.
Where ML algorithms are needed
In marketing, ML-based technologies are used in the following seven cases.
1. In marketing analytics.
Imagine an average marketer tasked with analyzing a huge volume of customer information. The marketer can apply a descriptive, diagnostic, predictive, or prescriptive method, but all these are not enough for modern businesses.
Thanks to ML-based analytics, specialists can assess the performance of marketing campaigns, improve them, and make predictions for the future way more rapidly.
For example, MIT’s ZyloTech platform uses ML to sort customer data and create relevant recommendations based on it. Converseon uses ML to select and analyze social media insights to help businesses better respond to customer needs and demands. And given the fact that the company partners with such influencers as Google, Cisco, and IBM, ML tools must really help Converseon in its marketing analytics.
2. In content marketing.
With ML, marketers can forget about repetitive routine tasks: selecting and analyzing keywords, searching for suitable topics, publishing posts on social networks, sending emails, etc. AI collects popular topics and search queries and predicts which ones will be relevant to your audience in the near future. Manual searches are time-consuming, while ML significantly speeds up the process.
Netflix understood the benefits of AI and ML a long time ago, and now it engages viewers with personalized movie and TV show trailers tailored to their preferences. ML algorithms help Optimail improve its email marketing campaigns. Mailings are automated with regard to personalization: templates are compiled, product recommendations are created, emails with payment…
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