Artificial Intelligence & Marketing Strategy


AI and Marketing Strategy

Marketing strategies are constantly evolving to keep up with the changes in consumer behavior and technological advancements. One of the most impactful innovations reshaping the world is artificial intelligence (AI). You can be against it but if your business does not start incorporating AI to its strategy, it will be a matter of time before you have an outdated business. I firmly believe that all businesses should start getting familiar with AI and start incorporating little by little into their marketing and their overall business. If you leverage AI it will become a time + money saver.

As you might know from either marketing or my previous articles the Marketing Mix refers to the 7P’s. If you are unfamiliar with this term I encourage you to read the previous article and then come back to read this article. (click here)

How do you incorporate AI to your current Marketing Mix ( Product, Price, Place, Promotion, People, Process, Physical Evidence)? Below I have listed elementary levels of  AI products that most small businesses can incorporate that will also improve productivity, customer personalization and lower their costs.

  1. Bot Assistant and Chatbot  – Product/Service, People, Promotion
    With a paid subscription of Chat GPT you can personalize it by feeding your content. It can be specific books, concepts, articles you have written.

    A bot assistant can help you generate content for Promotion such as text for posts and blogs, on People as a compliment to customer service with auto chat to answer common questions. If your business model is subscription based you can have a personalized bot to enhance your Product. For a nutritionist – it can give your clients personalized meal planning, nutrient analysis and recommendations, genetic analysis and nutrigenomics based on the individual data input. For a personal trainer it can generate personalized workouts. For business coach it can send encouragement texts to its clients. A lot of utilzation with Chat GPT for just about any industry.
  1. AI-powered optical character recognition (OCR) – Product/Service
    This can save you a ton of time if your business is data heavy such as an accountant, financial advisor. Most new smartphones include a camera with OCR feature. Just point the camera to text and you can copy and paste text into any file on  your computer. If you want to step it a notch using Automated Data Entry Processing AI will process all the data and categorize it for you.
  1. Meeting Summary – Product/Service, Process
    Within zoom or other apps such as firefly. You will get a summary of your zoom meeting with action items for each individual on that meeting. This is can be a great enhancement to the services of Consultants, Financial Advisors, Accountants.
  1. Price Intelligence Platforms– Pricing, Place
    How much do you charge? Where do you get your pricing from? Why not use a price intelligence platform to give the right recommendations so you can be competitive within the marketplace?

    A price intelligence platform works by collecting and analyzing data from various sources to provide insights into pricing trends, competitor pricing strategies, and market dynamics. Then, through data analytics and machine learning algorithms, it processes this information to generate reports, dashboards, and recommendations for businesses to optimize their pricing strategies, improve competitiveness, and maximize profits. It’s like having a spy on your competitors’ pricing moves, helping you stay ahead in the game. For ecommerce platforms it can be setup to automatically change price at a profit. For service based business in a matter of seconds can view what your competitors charge to decide your value within the marketplace.
  1. AI Powered CRM’s – People, Processes, Place
    Hubspot is a great CRM for small businesses with a free plan. Easily manage your clients and use AI to respond via email at incredible speed but with your brand message.
  1. Generative AI – Promotion, Process
    Using services such as Adobe Firefly you can type out your concept and it will create the image you need. Other products such as secta.ai ($49) can give you over 200 professional headshots, incredible cost saving and efficiency to hiring a photographer.

  2. AI Video Clipping Tool – Promotion, Physical Evidence
    You can upload video of your last webinar, event, etc to Opus (freemium, $9.95/mont) and it will automatically find the best parts and cut them out and auto add captions to make short videos to use in Reels, TikTok.  
  1. Email and SMS Customer Journeys – Promotion, Process, Physical Evidence
    Building email journeys and automating your emails will drive more repeat business, increase customer retention, and see more orders by creating marketing automations. Stay relevant by nurturing customers with an always-on presence. Scale and maintain more relevant interactions with messages, emails and SMS that are specific to your customer needs and behaviors.

    With a content assistant you will get insights to make smarter marketing decisions. Understand how customers are interacting with your brand so you can make better decisions about how best to engage them and keep them coming back.

Ethical Considerations

Just because you can do something doesn’t always mean you should. Does your brand lose credibility if an AI tool generates most or all of your content? Also, consider your brand voice. Generative AI can write well, but it may not be accurate to your brand’s identity. Lastly, while AI makes fewer mistakes than humans, it’s not perfect. Content created by generative AI tools can provide false information and fake news. It’s vital to check text written by AI tools. Just because something sounds like a human wrote it doesn’t mean it was.

Conclusion

In conclusion, integrating AI into your marketing mix offers numerous benefits, from data-driven decision making and personalized content to predictive analytics. By harnessing the power of AI, you can enhance your marketing strategies, improve customer experiences, and drive sustainable growth in today’s competitive landscape. There is still a need for human assistance to give correct prompts, interpret data and make best decisions. As AI continues to advance, it will play an increasingly vital role in shaping the future of marketing, making it essential for businesses to embrace this technology in order to stay ahead. Human Intelligence (HI) + Artificial Intelligence (AI) will be the way of the future.
If you would like assistance in incorporating AI to your marketing strategy, we are here to help. We can create a marketing strategy and implementation or you can be part of our Let’s Get Down to Business program where we meet weekly to improve your business

1 thought on “Artificial Intelligence & Marketing Strategy”

  1. Great content I can come back and refer to

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