How Machine Learning Aids Digital Marketing in 2021
The marketing industry is on the verge of being completely transformed by machine learning. It's already begun in several ways. Machine learning algorithms help us understand patterns in consumer behaviour so that we can determine where consumers are in the marketing funnel, subsequently giving the marketing team more options to guide the consumer through the funnel right to the end.
In this blog, we discuss the importance of machine learning in digital marketing.
Let’s get started.
What Is Machine Learning?
Machine learning is a branch of artificial intelligence that augments systems with a capability to learn from their mistakes and experiences automatically to find new and better solutions. The more data and experience a machine learning algorithm has, the better it will become in the future.
Supervised and unsupervised machine learning systems are the two main types of machine learning systems. In supervised systems, humans provide labeled data sets and solutions to directed systems, expecting a specific output from the system. The system is essentially taught which patterns to look for at first, and it can improve its ability to recognise those patterns as time goes on.
Unsupervised systems are given access to unsorted and diverse data sets and left to decode patterns without human interference. These systems will formulate algorithms on their own and then aim to refine the algorithms in the future.
How to improve your marketing by using machine learning?
We all know how important data is to marketing teams. Marketers have a tough time making sense of all of the data at their disposal and then putting them to use. This is where machine learning comes into play.
The main reason to incorporate machine learning into your marketing strategy is that it can process large amounts of data much more quickly and effectively than humans.
With machine learning, it’s possible to quickly identify trends and make predictions based on data. Marketers can then use these findings to improve a large portion of their workflow, from running further tests and optimising the UX of their website to personalising customer experiences and automating user interaction.
In a nutshell, machine learning will help you boost almost any aspect of your digital marketing efforts. We'll go into five of the most important ones below.
Data Sets Can Be Evaluated
Regardless of how you use machine learning in your marketing, you'll almost certainly start by analysing data sets.
For instance, machine learning can be used to analyse and find user behaviour trends on your website. Using Google Analytics to track and understand campaign performance and user behavior can be time-consuming. But a tailored machine learning solution can do this all in a matter of seconds, and present you even with predictions of future user activity in addition to finding the best trends for website improvement.
Humans are entirely capable of data processing, but they cannot do so as easily or reliably as AI-powered solutions.
Machine learning can also aid advertisers in gaining a deeper understanding of their target market.
Machine learning can be particularly useful for customer segmentation, where it can quickly segment and categorize audiences, subsequently maximizing the results of marketing campaigns; all based on previous customer interactions & customer behaviour patterns. When humans do this, it can take quite a while and there is a likelihood of errors based on wrong conclusions or judgment. Machine learning relies on data to arrive at conclusions.
Content Development And Optimization
Machine learning can be useful when it comes to the ranking of your articles in search engine results. Every written content needs to be optimized for search engines, which means relevant keywords should be strategically used, relevant subjects should be addressed, and all bases must be covered. Machine learning checks all these factors, and can even score articles based on the optimization.
More Effective Personalization
According to a study by Accenture, 91% of consumers prefer brands that remember them and respond with customised offers and recommendations. Furthermore, if they do not have a personalised experience, more than half of consumers are likely to switch to a competitor.
Machine learning enables you to provide your customers with the most personalised experience possible. You can use an algorithm that monitors user activity extensively, learns their interests when it comes to products & services, and uses that information to set up a personalised homepage and recommendation list.
A great example of this is the Amazon app. Have you noticed product recommendations with products that you would be interested in buying? That’s Amazon’s AI doing its job - analyzing purchase history, products in cart & browsing behaviour to determine the type of products the user would be interested in, and then pinning them up as recommendations.
Enhanced Marketing Automation
Marketing automation significantly increases sales productivity (by at least 14% according to Invesp), and also reduces marketing overhead. The automation can be done without machine learning. But with machine learning, it just becomes easier to implement and even more efficient when it comes to personalization.
Machine Learning-powered Chatbots
A chatbot is the buzzword today, considered a necessity for great customer service. An online company without a chatbot is considered outdated today. Many companies have begun to invest in machine learning-powered chatbots now - bots that automatically respond to queries from customers with incredible accuracy. By learning from the information on the website, the chatbot continuously enhances its answers to customer queries, getting better with each conversation. With machine learning, chatbots essentially become good enough to not need human intervention.
Furthermore, data collected by AI-enabled chatbots can be analysed by a different machine learning algorithm to create insights that marketers can use to improve their efforts in the future.
What is the Future of Machine Learning?
In the field of machine learning, things change quickly. Improved algorithms, for example, are currently being developed. Since these algorithms do not need human input at the outset, they are much simpler and quicker to implement for marketers. Machine learning algorithms can enhance their ability to predict what customers want, as well as the ways in which they can be incorporated with online stores. Marketers will soon be able to personalise any aspect of their pages for individual users, similar to how social media timelines are.
Conclusion
It's important to be updated on the latest developments in this fast-paced industry. When it comes to digital marketing, those who adopt emerging technology and recognise opportunities early on are the ones who profit the most in the long run.
