If you thought the previous decade was focused on big data, then strap yourself in for this year. Large data analytics will be accelerated into a new realm of possibilities this year. This allows businesses to find exactly the kinds of customers that would be most likely to buy from them. Inherently, this means knowing more about the individual. What kinds of products have they bought before? What are their recent and most-recent searches? What websites do they spend the most time on? Why apps do they have on their phone? What are their YouTube searches? All of these questions must be answered, collated and then your marketing strategy can target effectively. No longer can you cast the net wide to get the biggest catch. It’s more cost-effective to be specific.
Streamlining Your Budget
With a more pinpoint marketing strategy, this allows funds to be better allocated. Inadvertently, with this approach, you’re going to be saving more each time you begin another campaign. AI tools must be implemented in your customer relationship management. Machine learning makes it possible to adapt to changing tastes, understand new trends as they emerge, analyze how your consumer base is changing in age, searches made and switching brands. All this means marketers can make informed decisions and funnel the funds accurately to where they are most needed. Essentially, modern AI allows you to map and understand your consumer base before you even make contact.
Target the Right Platform
It’s largely been accepted that most of the younger generation don’t use social media platforms that have been here since the beginning in the late 2000s. Most Millennials and younger people are on Instagram and Twitter mostly. So if you’re a healthcare business, you could be advertising to the wrong crowd due to being on the wrong platform. Using a company like Healthcare Digital Marketing that utilizes Facebook ads, your business would be reaching out to the older generation who buy more insurance plans and use more services than say their children might. Content sharing and social community building keep customers engaged and feeling connected with the services you provide. It also informs customers, as mindlessly pushing products in their face will be rejected without proper knowledge of their needs being understood.
Understand Market Segmentation
An expanding customer base will always be comprised of different age groups and their needs. In order to please all your customers, understand the need for market segmentation not just in product and services designs, but how you market these to them. A customer-centric strategy must be at the core of your campaign. The marketing team must develop campaigns for each separate group from the ground up. Do not attempt to mix and match campaigns anymore. The generational gap must be acknowledged in your marketing strategy. Use different colors, images, music, fonts and pace in your advertisements to appeal to each segment of your market.
With advanced artificial intelligence technology, businesses can use machine learning to develop an accurate portrait of potential customers before sketching out a plan. Create marketing strategies that speak to each person.