ARTIFICIAL INTELLIGENCE IS EVERYWHERE! WHAT THAT MEANS FOR YOUR MARKETING
Today, artificial intelligence (AI) is one of the hottest marketing trends of 2023. AI is helping business owners boost their customer experience, better understand their target audience, and measure and judge for optimized growth. But what exactly is AI marketing, and how can it benefit you and your business? What is AI marketing? Companies will use AI technology to make automated decisions quickly. It collects and analyzes data, observes economic trends, and develops strategies faster than any human can. AI marketing software can take on a wide range of responsibilities, such as data analysis, consumer trends, and content creation and personalization. But how does AI compute and calculate this information? Whose data and trends is it looking at? Because AI marketing is used to help businesses improve their customer experience and understand their audience better, the best data for AI to use would be yours — the business’s customers. AI will analyze
customer data and notice specific trends that will help it predict your actions on apps, websites, and other media. With this insight, companies can use these trends to create personalized content just for you in a matter of seconds. What are the benefits of using AI? One of the biggest benefits of AI marketing is that it gives you a better understanding of your consumers. This means that your automation will be faster and more intelligent and can positively impact your company’s revenue and ROI. AI can also generate personalized content both on social media and in emails that will attract your customers. In addition, because you’re using technology to create content, AI won’t make any costly mistakes. AI marketing doesn’t seem to be going anywhere. In fact, it’s expanding its channels by improving customers’ experience using chatbots. The marketing tool will improve business’s messaging services to provide customers with a better chatting experience. Chatbots could even integrate into sales, lead generation campaigns, and other customer service channels.
READ ‘GOOD TO GREAT’ BY JIM COLLINS Do You Want Your Business to Thrive?
“Good is the enemy of great.” This is how Jim Collins begins his book “Good to Great: Why Some Companies Make the Leap... and Others Don’t,” which discusses how a handful of companies perfected their business strategies to create great businesses. If you’ve ever wondered why some businesses only last a season while others last 15–20 years, then “Good to Great” is a must-read. Over the past three decades, Collins has analyzed 28 businesses by studying their leadership skills, practices, and business strategies to understand how these companies skyrocketed past their competitors. After conducting dozens of case studies and analyses, Collins outlines several results that make excellent companies stand out. Here are three takeaways from “Good to Great.” The first key takeaway is determining your “hedgehog concept” — a strategy you can use for many years. This approach is based on Greek philosophy: “The fox knows many things, but the hedgehog knows one big thing.” To find your hedgehog concept, ask yourself these questions: What can your company be the best at? What can you and your colleagues be passionate about? What economic indicator should you focus on?
When creating habits and using technology, you don’t need to use everything on the market. There are millions of platforms, software, tools, and technologies to use within
your business, but which one will strengthen your hedgehog concept? Collins suggests only implementing technology that complements your business. He recommends waiting before jumping onto a new trend, platform, media platform, and technology. Be sure it aligns with your values, goals, and hedgehog concept. What do you do when your business is faced with uncomfortable situations, facts, or data? Great companies and business leaders don’t sweep hard facts under the rug and deny them. However, leaders don’t wave the white flag or give up. Instead, great companies and business owners acknowledge hard facts, identify pain points, and implement strategies to help overcome struggles and strengthen abilities. Along with learning tips and strategies from these three lessons, you will also have a chance to learn more about Collins’ case studies, what companies he studied, and the techniques used to create business powerhouses. You can find “Good to Great” online and anywhere books are sold. Happy reading!
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