A marketing strategy is often based on a sales funnel, often represented by the acronym AIDA. This is a sequential process starting at the broad opening of the funnel (Awareness), progressing through the middle stages (Interest and Decision), and culminating at the narrow base (Action). This model has been the foundation of marketing strategies for many years.
However, in the rapidly evolving digital business landscape of today, the traditional sales funnel might no longer be adequate. According to a report by Raconteur, the concept of the sales funnel is becoming outdated. The customer journey has transformed into a more intricate, multidimensional experience, incorporating numerous touchpoints across various channels.
Given this shift, what alternative approach could potentially supplant the conventional sales funnel?
What is an AI-driven marketing Strategy?
AI marketing involves the use of artificial intelligence by marketers to gain insights into their customers and create improved strategies. A marketing strategy driven by AI is customised and fine-tuned for the unique customer journey required for your brand or business. This can encompass tools such as chatbots, precisely targeted advertising, multifaceted and automated customer journeys and in-depth dataset analysis.
The typical process of incorporating AI into marketing involves AI gathering data, learning customer behaviours, and analysing this information to aid a business in achieving its objectives. AI can even engage with customers who exhibit specific actions on a website, such as clicking a button or interacting with social media posts.
3 ways AI can help your marketing strategy?
There are many ways in which AI can help you to plan and create a successful and efficient multi-channel marketing strategy.
However, it is worth noting that relying too heavily on AI can harm rather than help your marketing strategy. Discover them in our blog on: Ethical concerns of using AI in marketing.
Using Predictive Analytics and Forecasting in Marketing Strategies
AI-driven predictive analytics empowers marketers to maintain a competitive edge. By examining past data, market trends, and external factors, AI tools can accurately predict future outcomes. This ability allows marketers to proactively adjust strategies, optimise resource allocation, and pinpoint emerging opportunities, all of which contribute to gaining an advantage.
As AI continues its advancement, its influence on marketing strategies becomes even more profound. From refined data analysis and personalised customer experiences to sophisticated segmentation and predictive analytics, AI is transforming how marketers approach campaigns. Harnessing AI’s potential empowers businesses to base decisions on data, deliver precisely tailored messages, and enhance marketing efforts for better outcomes.
However, it’s crucial to recognise that AI isn’t a magical solution that replaces human creativity and intuition. It serves as a potent tool that amplifies human capabilities. Marketers should aim to strike a balance between AI-driven insights and their own expertise to create impactful campaigns.
Analysing Customer and Buyer Data to Influence Your Marketing Strategy
AI-driven analytical tools excel in handling large volumes of data and revealing insightful information. Through the identification of customer behaviour patterns and market trends, AI algorithms empower marketers to make decisions based on data. This, in turn, aids in refining strategies for more effective results.
Using Customer Segmentation to Optimise Your Marketing Strategy
AI empowers marketers to conduct precise and sophisticated customer segmentation. Through the utilisation of AI-driven algorithms, marketers can pinpoint distinct audience segments based on their attributes and actions. This heightened comprehension enables them to customise messages and campaigns according to the distinct requirements of each segment. This tailored approach leads to enhanced engagement and conversion rates.
Bigwave Can Help You with Your Marketing Strategy
Bigwave is a prominent creative marketing agency based in the Southwest region but working with clients from across the UK. Our team consists of skilled designers, developers, and marketers who join forces to craft exceptionally effective marketing strategies and campaigns. We leverage our deep-rooted industry insights, expertise, and combined experience to achieve this.
If you’re interested in discovering how the Bigwave team can assist you in devising, constructing, and executing a prosperous marketing strategy for your business or brand, don’t hesitate to reach out to us today.