How To Predict Consumer Behavior Using AI Marketing

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How To Predict Consumer Behavior Using AI Marketing

What is AI Marketing?

Forbes takes a high-level view of AI marketing, describing it as “a method of leveraging technology to improve the customer journey.” AI marketing uses this technology to identify patterns and inform many strategies throughout the marketing funnel.

AI Marketing vs CRM Data

Personalizing the customer journey is one of the most important aspects of converting prospects to customers, optimizing ROI, and increasing lifetime value.

Unfortunately, CRM data has failed at understanding the full picture. AI generates insights that predict what users are likely to do next and recommend what actions to take.

The ROI of Predictive Marketing

Some organizations have seen triple-digit growth when using predictive analytics Machine learning can improve the buying journey by predicting the most rewarding path for a prospect to take. Predictive analytics uses data from an individual’s past and current interactions with the brand.

Identify Your Audience Using Big Data

Every AI project starts with data across the technologies you use in your business. Insights live in your CRM data, Google Analytics, social media accounts, and even your help desk. Focus on data based on its volume,
velocity, variety, and veracity.

Consumer Behaviors to Focus On

Incorporate factors like sentiment, cultural characteristics, social engagement, and the way a user searches for information.

Insights can be found by looking at website data, loyalty program data, social media usage data, conversions path data, etc.

AI Implementation

AI allows you to use behavioral segmentation on a micro-level.

Like humans, it learns as it goes, adding new data points to fine-tune its inferences and predictions. Deep learning can find patterns in data to help businesses understand what customers really want.

Predict Consumer Behavior Months in Advance

Ben & Jerry’s used machine learning to read social and cultural trends to identify a new viral marketing opportunity: cereal-flavored ice cream.

Sephora used machine learning to customize their email communications on product recommendations.
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