By
Humphrey Udoh
Now that we are exploring the AI world with the available innovation at our disposal these are the 5 Crucial insights that are changing AI marketing trends in 2024.
Don’t stay behind, seize the opportunity to launch into the AI space for the benefits in mind-blowing.
AI has made marketers gain more insight into customer’s behavior during buying.
Reduce the cost of staff, and service and automate the entire system of customer journey.
Think about Amazon, Etsy, and Shopify where buyers pick an item, make payment and it is brought to their doorstep without interaction with the seller.
Some Facts about AI in Marketing
- According to SimpliLearn AI startups accelerated up to 14 folds since the year 2000 still expecting more in the coming years.
- By the rate at which AI is growing it will generate 8.4 billion AI assistants than humans in the year 2024. This will most likely make it produce more Voice assistant units than the human population globally. Source Simplilearn
- The artificial Intelligence marketing trend will mostly add 15.7 trillion to the world GDP. That will be a total growth of 14% by 2030.
- 77% of devices use AI-powered technology to accelerate their functions. This thing will not slow down anytime soon. Today digital marketers use smartphones to run their businesses and make a good amount of profit.
- From Accenture research, it was discovered that 87% of thought leaders in business believe that it is important to adopt Artificial Intelligence into business objectives for their establishment.
Table of Content
- What is In Marketing
- What is the Future of AI In Marketing
- What are the statistics about AI In marketing in 2024
- How is AI used in Marketing
- Benefits of AI In Marketing
- What is AI in Marketing?
AI is enabling consumers’ needs in marketing with accurate precision devices to facilitate the selling process either service or product.
AI in marketing is the use of humanlike machines to automate interaction with buyers and to gather behavioral information during and after transactions.
AI itself is a machine that is programmed to think, act, and behave like humans to carry out tasks that humans are supposed to do.
Sometimes AI works faster than humans because it is programmed just to work without having a break.
Like Copy.ai, Chatgpt, Crayon, Midjourney, and the rest. Will never stop generating content as long as you ask.
To know how the trend of buying has changed and to structure how to reach buyers in the future.
Take for instance, when you run Facebook Advert and go to the analytics dashboard to see the metrics.
The number of views, impressions, audience purchase behavior, cart abandonment, and so on.
It will tell you where the most clicks are coming from, age range, state, and country that is buying this kind of item.
Related read
- What is the future of AI in Marketing?
If you look at the growth rate of generative and the massive adoption by business, there is a clear indication that AI’s future will last longer than we may expect.
Even at this early stage, there’s massive trust in marketers that shows that many businesses will profit much in the coming years.
Like Chatgpt which gained 1 million users within 5 days of being launched.
Some SEO experts created AI content that ranked no 1 on Google’s front page within a day.
According to a Forbes Advisor prediction, experts say AI marketing will most likely reach $407B by 2027 from 2022. That is its starting year revenue of $86.9B.
A Forbes also survey tells us that 64% of businesses say AI will transform their business performance, productivity, and ROI.
Going by what Tesla EVs and their Chinese counterparts are doing, coupled with the global warming issues.
We are most likely to see 1 out of 10 vehicles that will be driverless by 2030.
- What are the statistics about AI In marketing in 2024
- Mckinsey Report prediction says from 2016- to 2030 the total number of Job Losses will be around 400 million which is 15% Global workforce. Because AI will displace manpower.
- A report from the World Economic Forum estimated that AI will most likely create 97 million jobs in the years ahead.
- Forbes reports that Danone – a French Food company has rectified its error for casting by 20% due to AI implementation.
This has enabled Danone S.A. to make more profit through correct food prediction, and planning for customers.
- According to the Drift leadership report, 79% say AI is one of the technologies that will impact marketing in the future.
- EY’s research report has it that a survey performed by 570 survey companies said that they use AI to accelerate business growth and enhance their financial improvement.
- Influencer Marketing Hub says, 71.2% believe that AI can outperform humans in their service.
- How is AI Used in Marketing?
AI is very important as we already know today. It has already changed the marketing trend.
Businesses that are using AI are seeing crazy results.
- Automation of Advertising Product
Many businesses run automated advertisements for up to 6 – 12 months. Interacting with customers, accepting payment, and adding to cart.
Categories buyer’s demography and shows adverts to specific audiences. Checking out customer preference and purchase behavior retargeting the audience on website visits using AI tools.
Checking the best-trending product to advertise and much more.
- Smart Decision Making
AI using machine learning technology can make smart decisions. By learning marketing trends, bring strategy and policy faster and quicker than traditional methods.
- AI improves Return On Investment – RIO
With Artificial Intelligence you can calculate ROI on a given advert campaign. Check the total number of website purchases, spent on Ads and total number of website visits.
Amount spent on an ad, total impression, click-through rate and more.
Modern marketing AI trends show how advertisement 2 campaigns can be structured to get maximum ROI.
- Improvement To Customer Relationship Management Info
Now AI can automate routine tasks for customers’ data for accurate results. Check customer behavior and deliver a product that meets his needs.
- Benefits of AI In Marketing
Time will not be available to list all the benefits of artificial intelligence in marketing.
- Boost revenue of business through product recommendation
Using specific parameters of the customer like video engagement, website visits, or pages like to suggest a product.
- Safe time and energy
AI saves more time in business because its work is automated. Chatgpt and Jasper can be content in a few minutes that will take humans to perform in hours or days.
- Increase productivity
When an AI creates a storefront for you in minutes, run your campaign. Sending visitors to the site and collecting payment for the business owner.
- It affects manpower hours
Work done by three men is now done by a single AI application. Like Jasper or Midjourney.
Tinywow can do all your words just in one App. Like content writing, paraphrasing, video conversion, file compression, etc.
- Gives more insight into customer data
Google Analytics is one application that would give information. Facebook ads library will give you trending marketing and sell products. Buy check the most engaging advert.
- Protect business information
AI for security ensures your password is protected and sends you notifications for device log-in from a strange location. Unprotected site and account vulnerability.
- It reduces the cost of production
What ten men can do is now integrated into one AI.
That works 24/7 without getting tired. No salary and no allowance.
Conclusion
AI is a human-like machine that is automated to work.
One thing AI marketing trends can do. perfectly well is to work continuously without getting tired.
The facts and figures about AI prediction are sure to become a reality.
This is just the beginning of AI marketing in 2024.
As more sophisticated ones will be emerging in the co. ing years.
Like, share, and comment your thoughts with us.
Elivechat Team