Is your brand's mobile marketing strategy measuring up to the growing number of digital users? Today's consumers are mobile-first, spending more time on the internet with their smartphone or tablet than a computer.
According to a 2016 comScore report, mobile accounts for 65% of digital media time compared to the desktop's 35%. This fact alone underscores the importance of a winning mobile-first strategy across the customer journey.
Your business or brand has to adapt to the changing times so that you can reach more mobile device-obsessed consumers and be one step ahead of the competition. One of the emerging mobile technology trends you can explore is artificial intelligence (AI). Considered the next big thing in mobile marketing, AI has started to create new marketing opportunities for various brands.
The digital marketing industry is optimistic about AI's potential. In a recent Demandbase survey conducted among 500 B2B marketing executives, 80% said AI would revolutionize marketing by 2020. However, only 10% of the marketers surveyed use AI and only 26% fully understand how to integrate and implement AI into their marketing campaigns.
Want to adopt AI for mobile marketing but not sure how to go about it? Take your cue from the five AI trends currently used by successful brands today.
Chatbots for a seamless brand-consumer engagement
Chatbots are computer programs that can engage people in human-like conversations through messaging apps to automate business transactions such as processing orders, booking flights and hotels, managing one's personal finances, scheduling an appointment, and more. AI processes text or speech inputs and sends an appropriate response to the user.
These artificially intelligent messaging-based bots provide a huge opportunity for mobile marketers who aim to position their brand as a trailblazer in the industry. Adopting chatbots as part of your mobile marketing strategy can benefit your brand in several ways.
First, you can reach a wider audience. Facebook Messenger alone has 1.2 billion monthly active users (as of April 2017). Also, an eMarketer report estimates that around 2 billion people worldwide will use messaging apps by 2019.
Second, using chatbots helps reduce customer support costs (i.e., fewer customer service agents and less overtime hours) while boosting your operational efficiency.
Most importantly, this mobile technology trend makes seamless interactions between brands and consumers happen. Rather than waste their precious time browsing a website they may not be too familiar with, customers can easily interact with a bot to order a product. The online conversation mimics the experience of shopping in a traditional retail store. Mobile marketers can further enhance user experience by creating customized recommendations for each consumer based on interactions with the chatbot.
Numerous businesses around the world either created their own messaging apps or tap existing platforms like Facebook Messenger, Slack, and Kik and have converted more customers by removing conversion barriers and allowing them to place orders by chatting or speaking directly through their smartphones. Some of the popular brands that use chatbots include Starbucks, Domino's Pizza, Pizza Hut, and Spotify.
Building a chatbot for your brand is a lot easier and cheaper than it sounds. Businesses of any size can develop their own mobile technology. You don't need a big development team, a massive budget, or extensive AI knowledge to develop an artificially intelligent chatbot. All it takes is using an open chatbot development platform to create a messaging-based bot in a matter of minutes.
Dynamic pricing for maximized profits
AI enables businesses to automatically set dynamic prices rather than fixed prices to maximize their profits. Dynamic pricing adjusts prices in real-time based on market demand and how much a customer can and is willing to pay.
This mobile marketing technology also predicts which consumers might need to be offered a discount before they convert and which ones might convert without the need for a discount. This way, price cuts are targeted only at consumers who will convert when offered a discount.
Uber's surge pricing is a perfect example of AI-powered dynamic pricing. Its algorithm pushes fares up automatically when demand for rides is high, depending on a rider's pickup location.
Your business, too, can leverage dynamic pricing for optimized profits by investing in a software that uses AI to manage your prices and revenues.
Consumer data analysis for better ad targeting
AI makes it easy for mobile marketers to craft more targeted and personalized marketing messages such as special offers and ads by spotting consumers' behavioral trends and patterns. This mobile technology provides marketers with insights on consumer preferences and the best times for sending out those messages.
To understand and predict how a customer would behave, customer data is analyzed, including what they usually buy, what they're talking or asking about, their demographics, location, and social behavior. In doing so, marketers find out which customers would make repeat purchases or the chances a particular prospect will convert.
This predictive analysis is well evident on the product recommendations of e-commerce sites like Amazon. For example, after purchasing dog food on Amazon, its algorithm will keep showing you similar or related products (e.g., dog accessories and pet care supplies) that you might consider buying.
Netflix, YouTube, and Spotify also have algorithms that work much in the same way to provide user enhanced experience through movie, video, and music recommendations that are relevant to every user.
Simply integrating AI into your mobile marketing efforts gives you a competitive advantage, especially if you're the first in your industry to do it. What more if you manage to implement it successfully?
So, take advantage of its potential for customer engagement as well as time and cost-saving benefits before it goes fully mainstream.