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Artificial Intelligence enables marketers to understand sales cycles better, correlating their strategies and spending to sales results. AI-driven insights are also helping to break down data silos so marketing and sales can collaborate more on deals. Marketing is more analytics and quant-driven than ever before with the best CMOs knowing which metrics and KPIs to track and why they fluctuate.<\/p>\n
The bottom line is that machine learning and AI are the technologies CMOs and their teams need to excel today. The best CMOs balance the quant-intensive nature of running marketing with qualitative factors that make a company’s brand and customer experience unique. With greater insight into how prospects make decisions when, where, and how to buy, CMOs are bringing a new level of intensity into driving outcomes. An example of this can be seen from the recent Forbes Insights and Quantcast research, Lessons of 21st-Century Brands Modern Brands & AI Report<\/a> (17 pp., PDF, free, opt-in). The study found that AI enables marketers to increase sales (52%), increase in customer retention (51%), and succeed at new product launches (49%). AI is making solid contributions to improving lead quality, persona development, segmentation, pricing, and service.<\/p>\n The following ten charts provide insights into how AI is transforming marketing:<\/p>\n Sales leaders predict that their use of AI will increase 155% in the next two years. Sales leaders predict AI will reach critical mass by 2020 when 54% expect to be using these technologies. Marketing and sales are relying on AI-based marketing automation, configure-price-quote (CPQ), and intelligent selling systems to increase revenue and profit growth significantly in the next two years. Source: Salesforce Research, State of Sales, 3rd edition<\/a>. (58 pp., PDF, free, opt-in).<\/p>\n Businesses with between $500M to $1B lead all other revenue categories in the number and depth of AI adoption use cases. Just over 52% of small businesses with sales of $25M or less are using AI for predictive analytics for customer insights. It’s interesting to note that small companies are the leaders in AI spending, at 38.1%, to improve marketing ROI by optimising marketing content and timing. Source: The CMO Survey: Highlights and Insights Report, February 2019.<\/a> Duke University, Deloitte and American Marketing Association. (71 pp., PDF, free, no opt-in).<\/p>\n There are nine dominant use cases marketers are concentrating on today, ranging from personalised channel experiences to programmatic advertising and media buying to predictive customer journeys and real-time next best offers. Source: Salesforce’s State of Marketing Study, 5th edition<\/a><\/p>\n The CMO study found that B2B service companies are the top user of AI for content personalisation (62.2%) and B2B product companies use AI for augmented and virtual reality, facial recognition and visual search more than any other business types. Source: CMOs’ Top Uses For AI: Personalisation and Predictive Analytics.<\/a> Marketing Charts. March 14, 2019<\/p>\n Reflecting how dependent retailers are on supply chains, 37% of retailers are investing in AI today to improve supply chain logistics, supply chain management, and forecasting (37%). Source: AI and Machine Learning use cases in the retail industry worldwide as of 2019, Statista.<\/a><\/p>\n Improving customer segmentation, improving advertising and media buying, and personalising channel experiences are the next fastest-growing areas of AI adoption in marketing today. Source: Salesforce’s State of Marketing Study, 5th edition<\/a><\/p>\n The timing and delivery of content, offers, and contextually relevant experiences are second (67%), and improving performance metrics is third at 57%. Source: Leading reasons to use artificial intelligence (AI) for marketing personalisation according to industry professionals worldwide in 2018, Statista.<\/a><\/p>\n 80% are currently using or planning to use AI for audience segmentation. EConsultancy’s study found marketers are enthusiastic about AI’s potential to increase marketing effectiveness and track progress. 88% of marketers interviewed say AI will enable them t be more effective in getting to their goals. Source: Dream vs. Reality: The State of Consumer First and Omnichannel Marketing. EConsultancy<\/a> (36 pp., PDF, free, no opt-in).<\/p>\n They also see an over 13% improvement in click-through rates and 7.64% improvement in open rates. Source: 4 Positive Effects of AI Use in Email Marketing<\/a>, Statista (infographic), March 1, 2019.<\/p>\n Marketers and their agencies differ on ad inventory selection and optimisation, with marketing teams often opting to use their analytics and reporting instead of relying on agency AI methods. Source: Share of marketing and agency professionals who are comfortable with AI-enabled technology automated handling of their campaigns in the United States as of June 2018, Statista.<\/a><\/p>\n Additional data sources on AI’s use in marketing:<\/strong><\/p>\n Top-performing companies are more than twice as likely to be using AI for marketing (28% vs. 12%) according to Adobe’s latest Digital Intelligence Briefing.21% of sales leaders rely on AI-based applications today, with the majority collaborating with marketing teams sharing these applications<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/AI-stands-out-among-fast-growing-sales-tech-1.jpg\")
<\/a><\/p>\nAI sees the most significant adoption by marketers working in $500m to $1bn companies, with conversational AI for customer service the most dominant<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/top-uses-of-AI-in-marketing-by-company-revenue.jpg\")
<\/a><\/p>\n22% of marketers currently are using AI-based applications with an additional 57% planning to use in the next two years<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/Marketers-are-experimenting-with-AI-in-an-assortment-of-Ways.jpg\")
<\/a><\/p>\nContent personalisation and predictive analytics from customer insights are the two areas CMOs most prioritise AI spending today<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/How-US-CMOs-are-Using-AI-in-Marketing.jpg\")
<\/a><\/p>\n45% of retailers are either planning to or have already implemented AI to improve multichannel customer engagement as a core part of their marketing mix<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/Machine-learning-use-cases-in-the-retail-industry-worldwide-as-of-2019.jpg\")
<\/a><\/p>\nPersonalising the overall customer journey and driving next-best offers in real-time are the two most common ways marketing leaders are using AI today, according to Salesforce<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/Percentage-of-marketers-using-or-planning-to-use-AI-in-the-following-ways.jpg\")
<\/a><\/p>\n82% of marketing leaders say improving customer experience is the leading factor in their decision to adopt AI<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/Leading-reasons-to-use-artificial-intelligence-AI-for-marketing-personalization-according-to-industry-professionals-worldwide-in-2018.jpg\")
<\/a><\/p>\n81% of marketers are either planning to or are using AI in audience targeting this year<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/81-of-marketers-are-either-planning-to-or-are-using-AI-in-audience-targeting-this-year.jpg\")
<\/a><\/p>\nOver 41% of marketers say AI is enabling them to generate higher revenues from email marketing<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/4-Positive-Effects-of-AI-Use-in-EMail-Marketing.jpg\")
<\/a><\/p>\nMarketers and agencies are most comfortable with AI-enabled bid optimisation for media buying, followed by fraud mitigation<\/strong><\/h3>\n
![\"\"](\"https:\/\/blogs.forbes.com\/louiscolumbus\/files\/2019\/07\/Leading-stages-of-ad-campaign-execution-where-marketing-and-agency-professionals-are-comfortable-with-AI-enabled-technology-automation-in-the-United-States-as-of-June-2018.jpg\")
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![\"https:\/\/www.cybersecuritycloudexpo.com\/wp-content\/uploads\/2018\/09\/cyber-security-world-series-1.png\"](\"https:\/\/www.cybersecuritycloudexpo.com\/wp-content\/uploads\/2018\/09\/cyber-security-world-series-1.png\")
<\/span><\/a>Interested in hearing industry leaders discuss subjects like this and sharing their experiences and use-cases<\/strong>? Attend the Cyber Security & Cloud Expo World Series<\/a> with upcoming events in Silicon Valley, London and Amsterdam to learn more.<\/p>\n","protected":false},"excerpt":{"rendered":"
\nRetailers are investing $5.9B this year in AI-based marketing and customer service …<\/p>\n","protected":false},"author":56,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39280","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=39280"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39280\/revisions"}],"predecessor-version":[{"id":39281,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/39280\/revisions\/39281"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=39280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=39280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=39280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}