Marketing
AI Use Cases
Model and predict customer lifetime value
Customer Management
Determine the likely lifetime value of customers to allow better customer management and engagement to increase revenues. It will allow a firm to better target its marketing resources to ensure that customer acquisition costs are managed appropriately by relevant segment.
Personalise loyalty programs and promotional offerings to individual customers
Customer Management
Personalise loyalty programs and promotional offerings to individual customers - typically this will involve balancing availability of time-sensitive supplier capacity (e.g. airline seats) with customer demand and preference profile
Enhance business relationship management through generating customer insight and personalised recommendations
Customer Management
Enhance business relationship management through generating customer insight and personalised recommendations (improved information flow to operative through ML analysis / personalisation of product and proposition / recommendation - potential suppliers include Accenture, Squirro)
Automate life event marketing
Customer Management
Capturing data on key life state events - from ageing or birthdays to more profound events such as house moving or bereavement - enables companies to target specific products or services. This data can be uncovered from multiple sources (within relevant legal constraints) and then the running of specific campaigns can be automated.
Automate sales conversations through a conversational agent
Customer Management
Automate sales voice conversations through a conversational agent enabling potential for simplified, high-volume sales. If inbound this can be a valuable consumer experience reducing waiting time but outbound and unsolicited it can be legally questionable (and a most unpleasant experience).
Enable Augmented Reality (AR) sales propositions by locating imported product images in a live camera output
Digital Marketing
Enable Augmented Reality (AR) sales propositions by geo-locating product against a moving image - often generated via a camera phone. The AI places the product in the image - for example furniture in a room or make-up on a face. This may often be a 3D image.
Subvert ad blocking software
Digital Marketing
In the race between online marketers and people keen to avoid being marketed to neural networks have been deployed to subvert ad blocking software (by, for example, working out which images might avoid being blocked). Ad blocking software has increasingly deep penetration amongst consumers which poses a challenge to online publishers. Subverting ad blockers is unlikely to be the last lap in this particular race.
Personalise media content recommendations
Digital Marketing
Use customer behaviour pattern data to predict and recommend media content that customers will want to consume. This may be further optimised to business imperative - for example what will enhance likelihood of subscription renewal rather than instantaneous gratification.
Personalise product recommendations for existing customers
Digital Marketing
One of the fastest ways to build revenue is to increase average shopping cart size and to cross-sell to exisiting customers with whom you have a relationship, data and a brand affinity. Also called recommendation engine or recommendation system, these systems leverage customer data to ensure that existing customers purchase more.
Retarget advertising
Digital Marketing
Retargeting customers who have already expressed interest in products or services. Typically the drop-out rate whilst filling in personal details (e.g. payment card information) is high - but these are the most valuable of convertible leads for most online organisations.
Identify and incentivise influencer and net promoter networks
Digital Marketing
Net Promoter Score is one technique to measure way of measuring the likelihood that individuals will act as advocates for a given brand - and building them up is one critical way to increase sales and reach exponentially through advocacy and referrals - but not all indivuduals have the same newtwork impact. Using AI to help identify, reach and grow these network nodes can help accelerate increasing customer growth via personal connections. Note that paid influencer networks (for example via Instagram) face ongoing challenges proving their relevance and minimising "fake follower" issues - as well as potential brand risk issues.
Optimise website paywall proposition to maximise subscriber conversion rates
Digital Marketing
Building subscriber income is a key part of many media publisher strategies - especially as print disappears, online advertising pricing pressure increases and 3rd party traffic generators like social media sites or search engines change their algorithms at will. Whilst these conversion rates are typically in low single percentage points any increase can drive significant revenue to the bottom line. Typically the models will score customer propensity to respond to different types of advertising and commercial propositions, perhaps at different times, and offer these up accordingly. For many sites this will also drive the cut-off moment for free access. This is a shift to a more flexible variant on traditional Freemium (some content is free, some paid for), Metered (a certain amount is free) or Hard (everything is charged for) models.
Track consumer visit to physical location following digital advertising offering
Digital Marketing
Understanding the link between digital spending and real world reactions by consumers - in this case seeing an online ad and then going in to a store - is one of the holy grails of advertising. Machine learning makes the inherent data scale and connections behind this manageable. However, getting the right partnerships and data capture approach as well as consumer acceptance and data privacy right will be the key to long term commercialisation.