It’s fair to say that Artificial Intelligence (AI) is shaping how marketers design and execute their strategies, transforming everything from campaign personalisation to data analysis.
Whether it’s in the B2C or B2B space, AI provides tools that empower marketers with insights and automation, enhancing their ability to engage with desired audiences.
However, despite its capabilities, there’s a need for marketers to understand that this new technology is a consequence of an evolution, not necessarily a revolution.
To understand and gradually implement AI, organisations are required to “walk before they can run” to ensure effective integration and avoid an overreliance on this emerging technology.
The success of AI in marketing largely depends on the accuracy of data and the quality of inputs it receives, emphasising the importance of starting with a solid foundation. As was recently mentioned in a Business Insider article “AI won’t replace your job, but someone who is prompting AI effectively will”. This sentiment echoes the symbiotic relationship between AI and marketers, as both sides benefit from each other’s interactions.
The Role of AI in B2B Sales & Marketing
AI tools for B2B marketing enable marketers to leverage predictive analytics in marketing, enhance lead generation, and improve B2B sales. For instance, HubSpot utilises AI to automate email campaigns, ensuring messages reach the right audience at optimal times. By analysing past interactions, AI can predict the best content and timing for emails, increasing engagement and conversion rates. Similarly, AI-driven sales strategies, including outreach support with platforms like Salesloft provide signal-to-action engines that help sales teams by highlighting buyer signals at crucial moments, equating to more deals being closed at a faster rate.
AI Tools and Platforms
Platforms like Salesforce with its ‘Einstein’ tool offer powerful AI capabilities that aid in predictive analytics and customer relationship management (CRM). Einstein analyses vast amounts of data to provide actionable insights such as predicting the likelihood of a lead converting to a sale, or recommending products to customers, similar to those already purchased or viewed.
Despite this level of detail being previously unattainable, there is still a need for human functionality. Marketers must avoid misconfiguration mistakes and data input errors, so that AI produces something of value. However, once completed accurately, marketers can focus on crafting creative content and strategies, while AI handles data-driven decision-making.
LinkedIn and other social media platforms leverage AI to optimise ad placements and content delivery, ensuring that the right message reaches the right people. AI algorithms analyse user data to tailor content recommendations, enhancing the user experience and increasing engagement.
AI and Data Intent Platforms
Data intent platforms, like 6Sense, use AI to analyse intent data-signals indicating a consumer’s likelihood to purchase. These platforms enable marketers to prioritise accounts and tailor their approaches based on insights derived from consumer behaviour. This not only increases the effectiveness of marketing campaigns, but also helps allocate resources more efficiently. However, as mentioned previously, the effectiveness of these platforms relies heavily on the quality and accuracy of the data they process, which highlights the importance of maintaining data accuracy and integrity.
Walking Before Running with AI
Despite the potential of AI, marketers must approach its adoption carefully. According to research from HubSpot, a significant portion of marketers are still hesitant to fully integrate AI into their workflows due to concerns about data privacy, ethical implications, and the accuracy of AI-driven insights. In fact, only about 30% of marketers feel comfortable using AI extensively in their strategies, highlighting the importance of gradual adoption.
It's crucial for marketers to understand AI's capabilities and limitations.
Sudhakar Nagasampagi, former Chief Architect of AI at Wipro Technologies, recommends starting with small-scale AI projects to familiarise teams with the technology. This incremental approach allows for adjustments and learning, helping marketers build confidence in AI tools and strategies. The focus should be on using AI to augment human capabilities rather than replace to them entirely, ensuring that the creative and strategic aspects of marketing remain driven by human insight and intuition.
Importance of Accurate Data and Quality Input
The effectiveness of AI in marketing is heavily reliant on the quality of data - B2B data refers to the collection, analysis, and utilisation of data related to businesses, in the context of business-to-business (B2B) interactions - that it processes.
Accurate, high-quality data is essential for AI algorithms to deliver reliable insights and predictions. Inaccurate or biased data can lead to incorrect conclusions and off-centre, skewed marketing strategies.
Therefore, marketers must ensure that their data collection processes are robust and that the data used for AI applications is clean and relevant. Additionally, data sensitivity and adherence to regulations such as GDPR is critical to maintaining trust and compliance, especially when handling personal and sensitive information.
Furthermore, the quality of input provided to AI systems is crucial. AI tools require precise and well-defined input to function optimally. For example, when setting up AI-driven email campaigns, marketers must clearly define audience segments and goals to ensure that the AI can effectively tailor messages and timing.
Varying Opinions on AI in Marketing
It seems the marketing industry has a varied view on the role AI in marketing practice. Some view AI as an essential tool for maintaining competitiveness, while others caution against over-reliance on automated processes that could overlook human talent. Concerns about AI ethics and biases persist, with many marketers emphasising the need for transparency and ethical guidelines in AI applications. With the EU’s 1st AI Act due to be passed in September 2024, the future of AI legislation is still very much in its infancy.
AI-Powered Chatbots
AI-powered chatbots have become integral to customer service, offering 24/7 support and handling routine enquiries efficiently. However, these chatbots are not meant to replace human interaction, they are to enhance it. By handling basic queries, chatbots free up human agents to address more complex issues, improving overall service quality.
Conclusion
AI is undoubtedly reshaping the marketing landscape, offering unprecedented opportunities for personalisation, efficiency and data-driven decision-making. However, marketers must adopt a measured approach, understanding the technology's capabilities and ethical considerations before fully integrating it into their strategies.
By focusing on human augmentation rather than replacement, marketers can harness AI's potential while preserving the insight from human creativity.
As AI continues to evolve, its role in marketing will become increasingly significant. By taking the time to learn and adapt, marketers can ensure they are prepared to leverage AI's full potential, enhancing their strategies, and achieving better outcomes for their brands and customers. This journey of "walking before you can run" will ensure that AI is used effectively and ethically, driving success in the ever-changing world of marketing.
The key takeaway here is that AI is more about human-augmentation than it is about human replacement. AI excels in providing interesting insights and helping with repetitive tasks, but it will be the human element that will be significant in bringing out AI’s true potential pushing forward.
