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How AI Technology Can Boost Your Business Growth

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Artificial intelligence (AI) has been a game changer for some of the world's most successful businesses. Here are three aspects of how artificial intelligence is being used to accelerate business growth. Although AI is no longer a cutting-edge technology, it is not being utilized to its full potential by many businesses. Companies can realize significant productivity gains and cost savings from the smart application of AI, from automating repetitive processes to forecasting to better-serving customers and clients, AI can do a lot.

There are three major areas through which AI can help businesses grow:

  • AI-powered analytics
  • Customer service satisfaction
  • Targeted digital marketing campaigns

AI-powered analytics

Cookies have consistently made headlines in recent years, when visitors visit your website and 'accept recommended cookies,' you gain valuable information about their preferences.

AI can collect and connect various types of data, such as Demographic, Social, Geography, and Patterns of browsing.

AI (Artificial Intelligence) allows businesses to secure large amounts of information about their users by working in the background while users continue on their browsing path. You can use this data to make strategic decisions about how to communicate with customers and promote new offerings.

The more data your AI software can generate and sort through, the more targeted and personalized your marketing can be, resulting in increased traffic for your company.

Artificial intelligence-powered analytics can provide detailed insights into buyer preferences, behaviors, trends, and interests. As a result, this technology can assist you in developing market-ready products and reaching buyers at the most advantageous times and channels. AI also makes it easier to keep track of competitors. There are numerous tools available to assist in tracking competitor activity and performance so that your company can stay ahead.

Customer service satisfaction

One of the most significant challenges for businesses is the ability to provide better customer service. Customers have high expectations when it comes to customer service.

Because free shipping is the top incentive for purchase for nine out of ten consumers, businesses are working to ensure they maintain an open-door policy for customers who require assistance and can effectively communicate any changes in expectations.

We're not talking about the robotic, awkwardly phrased responses you get from companies' websites. Instead, AI can assist you in communicating in a more personalized manner, which can help you increase your brand reputation and exponentially grow your business.

41% of customers prefer chat support because they can get an answer to their problem quickly. It is gradually becoming the preferred platform for customers to contact brands when they require assistance. AI can also assist you in real-time conversation tracking.

This type of information can assist you in providing feedback, determining peak business hours, the number of agents required to be available to customers, and the type of support customers prefer (i.e. chat or phone).

Targeted digital marketing campaigns

As people have been spending more time online through the use of smartphones, tablet devices, and social media, businesses have the opportunity to reach them through a variety of channels. Companies must present themselves as open, communicative, and responsive, with a welcoming tone.

Despite the fact that personalization is difficult, 87% of marketers reported a measurable lift from their personalization efforts, yielding solid results. In an uncertain market, AI can assist businesses in collecting and connecting data to provide insights that aid in the creation of successful marketing campaigns.

AI enables marketers to improve personalization at the individual level. For example, based on brand interactions, the technology can predict customer behavior, allowing businesses to communicate at optimal times and improve experiences. It can also recommend products and services that are relevant to the right buyer, improving brand reputation.

Don't overlook the value AI is already providing to leading businesses, as well as the possibilities it can provide to yours. While some of today's technological advancements may appear intimidating, it is critical to gain a thorough understanding of how they are used and how you can use them to help your business, so you don't fall behind tomorrow.

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