When new technology is introduced, it usually is greeted with skepticism and suspicion. However for artifical intelliegnce (AI), current statistics prove the importance of AI in marketing. We have compiled a list of statistics to help showcase the value.
80% of business leaders are already using AI
80% of business leaders say AI increases productivity by 40%. As a result, executives are increasingly using AI to run their business marketing and operations. Additionally, other business marketing personnel are also using AI more.
61% of marketers are employing AI
In addition to executives, marketers are also turning to AI. A large majority of marketers are also using Artificial Intelligence. Specifically, 61% of you marketers say that AI is the most important part of your data strategy.
72% of executives also realize gains in productivity
Office workers are also benefiting from using AI in the workplace. 72% of executives convey that AI can enable marketing employees to concentrate on more meaningful work. Likewise, your marketing workers, managers, executives, and suppliers can also remove dull, repetitive, and routine tasks and enjoy more enriching work.
AI in marketing reduces repetitive marketing tasks by 82%
Business executives are employing AI to remove repetitive marketing tasks. These repetitive tasks include paperwork of 82%, scheduling of 79%, and timesheets of 78%. Other such tasks also include website content and repetitive marketing materials.
AI in marketing increases customer acquisition, service, and retention by 85%
According to a 2011 Garner Summit Report, most marketing to customers will be handled by Artificial Intelligence technologies. In fact, by 2020 85% of your organization’s marketing operations to customers will be done by AI only. AI’s marketing functions will include increasing sales revenue, customer acquisition, customer satisfaction, customer retention, and customer marketing data and information.
51% of executives use AI in marketing to enhance products and services
Another primary goal for AI marketing is to enhance the marketing of consumer products and services. 51% of executives say that AI is to help market the products and services’ features, functions, and performance. One notable example, Netflix, uses AI and machine learning to make personalized, customer movie recommendations which resulted in increased customer retention and decreased switching to rivals streaming services.
49% of consumers are willing to shop more frequently if using AI
If your business uses AI in marketing, you will see that 49% of consumers are willing to shop more frequently at your website or store. And, you will also discover that 34% will spend more of their money on your goods and services. Are you beginning to see the advantages of using AI marketing?
80% of sales and marketing leaders use AI Chatbots
AI Chatbots respond to customer inquiries with conversational language and are a part of AI marketing to consumers. 80% of sales and marketing leaders already use Chatbot software as they market to customer experiences. Benefits of Chatbots are 24 hours of customer service and instant personalized responses to questions.
30% of global companies will use AI in sales
According to the October 2016 Garnet Report, many worldwide companies will be using AI marketing in their sales processes. Specifically, 30% of companies globally will be marketing with AI by 2020. For instance, 100 million consumers will shop by augmented reality also by 2020.
AI in marketing will increases profits by 38% and revenue by $14 trillion
According to Accenture, fortune 500 technology consultant, AI marketing will increase profitability by 38% and produce $14 trillion of additional revenue globally by 2035. As a result, many stagnant or declining economies will see economic growth boosted. Similarly, AI marketing will increase more jobs than it disrupts in the near future.
87% of AI early adopters are using AI for sales forecasting and e-mail marketing improvements
Currently, 87% of AI early adopters were using AI for sales forecasting and e-mail marketing improvements. AI sales forecasting discovers future customer behaviors that the competition does not have. As a result, this creates a competitive advantage that increases your company’s market share.
75% of businesses say AI will assist in moving into new businesses and ventures
Although less than half of executives indicate that AI adoption is too expensive to utilize, 75% of businesses convey that AI marketing will help create new businesses and ventures. As a result, new types of customers and markets will be easier to obtain and maintain.
41% of consumers believe AI will improve their lives
41% of consumers represent millions of potential customers who favor AI and will not be offended by AI in marketing. Precedence shows that this number will increase as additional consumers adopt AI to purchase and shop in increasing numbers. So, current AI marketing is in the ascendant part of the bell curve.
43% of millennials would pay a premium for a hybrid human-bot customer services
AI marketing is already favored by 43% of millennials and is poised to create innovative AI services and products. New AI marketing channels would generate additional profits for the savvy AI marketer. You should pay close attention to emerging virtual reality channels and products.
Early adopters of AI are already enjoying the benefits of increased profits and reduced costs for a relatively minor software investment. It's highly recommended for businesses to try AI in marketing with free demos or trials.