Chatbot Archives - MKTPlace https://mktplace.org/tag/chatbot/ all about trading, Fintech, Business, AI & technology in one place Wed, 23 Nov 2022 12:38:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://mktplace.org/wp-content/uploads/2021/03/favicon.png Chatbot Archives - MKTPlace https://mktplace.org/tag/chatbot/ 32 32 AI and the Future of Marketing https://mktplace.org/ai-and-the-future-of-marketing/ Fri, 03 Dec 2021 14:16:06 +0000 https://mktplace.org/?p=47303

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The evolution of artificial intelligence (AI) shows no indications of slowing down. With new advancements hitting the market on a regular basis, businesses today have a good number of possibilities for getting help with a variety of laborious and administrative duties.

Marketing has reached a critical juncture. Businesses and brands will spend more on digital advertising this year than they will on traditional forms. So, while programmatic advertising on digital media sites has long been touted as the way of the future, wise firms are turning to social media. And, when combined with artificial intelligence (AI), it looks to be on the verge of revolutionizing how businesses interact with their target audiences.

With more and more websites adding social components, the line between social and digital media is becoming increasingly blurred. Companies are increasingly incorporating social logins, such as Facebook.

As a result, massive amounts of customer data are being gathered. Not only their site activity, but specific information about who they are, where they are from, and what they like (from movies and music to holiday destinations and more).

However, the amount of data gathered was so huge that it was impossible to use it to drive correct advertising performance until recently. Those who have taken advantage of the rising number of tools available to tap into this social data have discovered that it not only helps to construct a customer’s profile, but it can also aid in better identifying buy intent — gold dust for marketers.

Perhaps more importantly, this increased value across many critical parts of the business – recruiting, brand image, brand awareness, conversion, and offline events – during a time when the company’s other media channels were underperforming.

The  automated computer programme, sometimes known as the bot, is another AI-driven marketing technique that is fast gaining in favor. A chatbot employs artificial intelligence (AI) to ‘speak’ with clients, and one method bots are already being utilized is to forecast the success and popularity of social media postings.

Change is a constant for many firms – branding updates, acquisitions, mascot modifications, product launches, and so on all result in tiny, but frequent design changes. This may be a significant headache for marketing and creative teams, who are in charge of updating various types of information, including internet pages, PDFs, and print materials. Not only is this time-consuming, but it also exposes the company to human mistake, which may lead to market misunderstanding and brand erosion.
AI models will be able to learn to make these types of adjustments instantly as AI learns to understand design files like InDesign and Photoshop. AI will be able to  identify a new version of an asset — for example, a logo — and replace the prior version across all design files, similar to the find-and-replace capability offered in Word documents. These updates might then be automatically updated as a new version in the organization’s digital asset management system.

Pinterest currently use object recognition to determine which goods appear in pins that are liked, pinned, and re-pinned by users. This technology is then used to enhance pins and propose related pins and advertising to specific users.
Businesses and companies must shift their marketing and advertising tactics to include AI-powered social initiatives. This will allow businesses to take advantage of the increasing volumes of important social consumer data that can be mined to create more precisely targeted and ultimately better performing campaigns. By embracing the first level of AI today, companies will be better prepared to take advantage of the next step and push their marketing to new heights.

While artificial intelligence has a long way to go, there are several methods to include AI into your digital marketing plan right now.

]]> Why Should Your Company Use Chatbots? https://mktplace.org/why-should-your-company-use-chatbots/ Thu, 02 Dec 2021 14:25:56 +0000 https://mktplace.org/?p=47294

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The use of automation tools is on the rise and logically so. These social media tools help make your job easier by carrying out various tasks on your behalf.

AI-driven bots that interact with customers to find what they’re looking for are increasingly delivering the goods for businesses and consumers alike.

Thanks to their ability to respond instantly and around the clock, they can offer a competitive advantage, while simultaneously helping to lower staffing costs. Their interactivity means they can provide valuable information to potential or existing customers on demand, 24/7. By finding out what customers are looking for, businesses can adjust their more valuable support resources to prioritize more lucrative or complicated tasks.

Chatbots are reliable virtual assistants
One of the best things about employing chatbots in your marketing efforts is that they play the role of a virtual assistant. They work like a salesman at a showroom to your website or social media profile. You can use Chatbots to welcome your audience on the platform and help guide them through. Just as a salesman listens to the queries of his customers, use Chatbots to help your brand respond to the queries of your audience immediately.

Last year, Japanese tech giant LINE Corporation moved into the chatbot space by launching free LINE BOT API trial accounts that allow anyone to develop chatbots for them. LINE’s chat platform competes with the likes of Whassap and WeChat and it boasts a healthy market share in Asia.

A lot of time, money and effort can go waste in responding to each and every message. If you employ chatbots to automatically respond to messages and lead conversations, you can save up on a lot of time. A cost-effective way to deal with customer support and service is to hire a small team of customer service professionals along with an effective chatbot tool.

Chatbot technology is fast taking over the customer service and engagement landscape in social media and digital media. It is a good decision to use chatbots for your business.

]]> How Artificial Intelligence is Taking Over Sales through Sales Robots https://mktplace.org/how-artificial-intelligence-is-taking-over-sales-through-sales-robots/ Tue, 23 Nov 2021 11:47:12 +0000 https://mktplace.org/?p=47240

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According to a recent estimate, robots will take over 73 million employment in the United States by 2030.
Many employees will be concerned by these projections, while salespeople will be less concerned. Artificial Intelligence (AI) technology may assist businesses in analyzing consumer data and providing actionable insights. These findings are then utilized to produce sales forecasts, targeted product suggestions, and significant sales changes.

How is Artificial Intelligence (AI) Taking Over Sales?

Taking over does not imply that AI robots will replace humans in sales. AI is becoming a need for shops as they take over.By gathering and analyzing client data, AI can assist salespeople in gaining an advantage over their competition. This study might assist you in improving your customer service. You may learn how customers feel about your firm, for example, and whether or not this view matches with their basic beliefs.

Customers also want firms to be accessible at all times and through many media. If a consumer does not receive a prompt answer when considering purchasing anything, the firm may lose money. Approximately 64% of customers want companies to communicate with them in real time.

Retailers utilize chatbots for this reason. Chatbot technology increases customer-salesperson connection, resulting in a better customer experience. Chatbots also boost operational efficiency by lowering customer service costs.

What Role Does Artificial Intelligence Play in Sales?

In most cases, sales professionals do not have adequate information about potential consumers. For example, more than 80% of sales people who have enough marketing knowledge feel that it aids them in performing their jobs more efficiently. Only 51% of sales people believe they have sufficient market knowledge on prospects and customers. When it comes to anticipating customer behavior, the data are even more telling.

In conclusion, the majority of salespeople believe that this knowledge is useful. This is the kind of information AI can deliver. Companies must first gather this information using various means. The data may then be analyzed by AI systems to offer useful information about clients. These information may be used by sales professionals to design more customized sales procedures. A method that takes into account each customer’s distinct preferences.

By giving useful data and feedback, AI can assist sales professionals in doing a far better job. In fact, AI-based selling approaches are 2.3 times more likely to be used by top-performing sales teams.

AI in Sales: 5 Use Cases

Customer data may be analyzed, organized, sorted, and insights provided by AI. This information can help retailers better understand their consumers and their market. Sales forecasting, lead creation, and productivity may all benefit from this method.

Recommendations that are tailored to clients

The most crucial outcome of AI-guided sales is personalized information tailored to each individual consumer. In fact, 57% of consumers are eager to disclose personal information in return for tailored offers or discounts. Furthermore, 52% of customers will give personal information in order to receive product suggestions that are tailored to their requirements.
Any one-to-one marketing and sales approach may benefit from an effective AI system that generates individualized suggestions. One-to-one marketing is a strategy that focuses on providing a unique experience to each consumer. Customer loyalty may be improved by personalization, which has a high return on investment.

This method allows customers to purchase precisely what they desire, even if they weren’t seeking for it. Product suggestions, for example, account for nearly 35% of Amazon purchases. Because these algorithms learn from feedback data, AI will only become better at offering special deals.

Prioritization and scoring of leads

The traditional lead sorting and scoring procedure relies on guesswork and gut feeling. AI systems may gather historical data about a consumer, as well as information from social media and past contacts with salespeople. The system then assigns a ranking to these leads based on their likelihood of conversion. People just cannot match the amount of uniformity and reasoning that AI can provide. Furthermore, AI productivity software can help everyday life in many ways.

Recommendations for Sales

Your sales team may convert more leads and close more transactions by planning and developing a sales process. AI systems may provide sales recommendations based on your objectives and data insights. These suggestions range from who to target next, how to price a sale, and which customers to target first with cross-sells and upsells. Instead of debating what to do next, sales staff can use their time to complete transactions with this tailored direction.

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