Once the basis for science fiction, artificial intelligence is becoming a part of everyday life, advancing more rapidly than experts could have predicted just a few years ago. For example, in 2015, an AI program called AlphaGo beat a professional human player at the game of Go - an ancient and extremely sophisticated game – more complex than Chess, and extremely popular in Asia and among gaming circles. The following year, the same program beat the 18-time world champion in an event heralded as being a decade ahead of its time.
Advances in machine learning and artificial intelligence are revolutionizing all aspects of business and industry. Marketing is one area that where the effects of machine learning and artificial intelligence are beginning to be explored, but most marketers have just grasped the outermost edges of the potential applications of this technology.
More than 3 billion people worldwide maintain active email accounts, giving email a more comprehensive reach than any other marketing channel. However, with almost 250 billion emails sent daily¹, the challenge faced by marketing executives is how to make your brand stand out in a sea of products and offers.
Improving the customer experience is one way that companies can set their brand apart while inspiring loyalty in their customers. The Walker Information’s Customer 2020 Survey¹ predicts that by 2020, customer experience (CX) will be the primary competitive differentiator between brands.
This prediction is complicated. How can a firm create an experience that will appeal to a diverse, well-informed customer base, when consumers are always connected, and able to do comparative research on similar products with a simple web search?
Targeted marketing is a critical component of modern marketing. By using demographic indicators, marketing campaigns can find smaller pools of people who are more likely to become consumers and aim marketing efforts at that group.
By sending out non-serialized coupon codes, Toys“R”Us unintentionally gave massive discounts to customers, opened itself up for fraud, and damaged its bottom line.
In a time when social media users are expected to top 3 billion in the next three years, its increasingly imperative for Consumer Packaged Goods (CPG) brands to utilize effective social sharing strategies. A recent study shows that 76% of all shopping trips begin online with many consumers comparing prices and researching products on smartphones while in the aisles. Consumers use social media to find out about products and services, receive exclusive offers, promotions or discounts, and rate or review products and services.
Added Security Features Can Help Prevent Misuse of Digital Promotions
Digital promotions are an extremely valuable tool for marketers. Over 127 million adults in the United States redeemed digital coupons in 2015, and that number is expected to increase to 145.3 million by 2021. Coupons represent a fantastic opportunity for brands to attract new customers and engage current customers in new ways.
Learning More From Your Consumer’s Path to Purchase
The consumer Path-to-Purchase has evolved considerably over the past decade. The growing use of e-commerce, digital innovation, and mobile devices has changed how people shop, and how marketers connect with customers.
Mobile and digital interactions leave a data footprint of your customer’s shopping experience, which smart marketers are leveraging as a competitive advantage over their rival brands.
Advanced Data Analysis Can Help Overcome Customer Acquisition and Engagement Challenges Within Your CPG Strategy
The Consumer Packaged Goods (CPG) industry is facing more challenges than ever before. The benefits of an expanded global marketplace come alongside changing customer demands due to demographic and cultural variables. Some new and notable challenges in the CPG industry today include the growth of private label brands, the ability of organic “Mom & Pop” brands to rapidly gain share and distribution, and new “digital-first” brands that can move faster based on insight and customer demand.