There’s no limit to the way AI can help with brand innovation. Brand innovation began with being able to predict popular tendencies in business. It is about being able to be where the customer is going to be. Now, AI increases the scope of what’s possible by analysing past trends and anticipating future ones, automatically.
Ways Artificial Intelligence will help you with Brand Innovation
AI includes features such as auto-search, voice actions, self-executing customer participation and dealing with high-volume customer care. Feedback from the various channels in existence today is one of its most useful aspects, alleviating pressure on staff. It’s no secret that brands plan on taking up AI, with 53% of those surveyed claiming they will do so in the next two years. Here, we lay out some of the ways AI can help further with your brand innovation strategy:
- Product suggestions
- AI can suggest related, complementary products to customers
- Investigation of data
- Data analysis is automatised and made more accurate by machines
- Search engine improvements including optimisation and image-based search powers. Search engines today have enormous and powerful opportunities for the improvement of your brand.
- Analysis of and prediction of trends
- After more accurate and faster data analysis, AI is able to use this to predict trends with greater precision.
- Defining of product through both pricing and classification
- AI works with your product, comparing it to what else is on the market and finding the most appropriate pricing structure and placing it alongside similar products of relevant categories.
- Selecting and defining an audience
- You need to know when and where to strike. AI can help you define your audience, where you can find them and when it’s best to take your product to market.
- Advert personalisation
- Ads are becoming significantly more personalised. They are increasingly displayed only to to users who will find them specifically useful – AI can point you in the right direction.
- Estimating future sales
- Robots will help you by analysing your past sales and comparing them against future trends giving you an accurate and timely estimate for your future accounts.
- Chat bots
- Increase customer service through ever-more innovative and personalised ways.
- Voice identification software such as Siri, Alexa and Google Assistant – As these systems become more intertwined with our homes and lives they learn more and more about their users. They’re perfectly placed to tell us what their users want, as well as when and how they need it.
Adoption rates are on the up!
Some of the world’s most prestigious companies are already using AI and many more are beginning to adopt it. One of the ways they’re using it is to improve their branding and marketing. Business Insider tells us that 51% of people in marketing have already embraced AI, and a further 27% will be adopting it over the next few years. It’s imperative that you take up the responsibility of furthering your business harnessing the marketing power of AI, or you can risk losing business to your competitors.