Digital Alchemy | How to Use AI for Customer Targeting
Learn how Artificial Intelligence can look past demographics to achieve accuracy in customer targeting.
ai,data,analytics,targeting,customertargeting,
21741
post-template-default,single,single-post,postid-21741,single-format-standard,cookies-not-set,ajax_updown_fade,page_not_loaded,,qode-theme-ver-11.1,qode-theme-digital alchemy,wpb-js-composer js-comp-ver-5.1.1,vc_responsive

Why Marketers Use AI for Customer Targeting

Cast your mind back to the latest media article that inspired you.  When considering who to share it with, it’s likely that you immediately knew who in your circle of friends would find it interesting. What if there was a simple way to create such a targeted approach to sharing information when it came to your marketing? Luckily, with the advent of artificial intelligence (AI), almost anything is possible.

Your marketing  must speak to your audience

With evolving customer expectations, it is obvious that the days of blasting out the same marketing communications to every customer will no longer cut the mustard. One of the biggest challenges marketers face is getting relevant content in front of the right customers.

With the exploding volume and speed of data growth, it has become increasingly difficult for marketers to comprehend data and identify the right customers to talk to.

  71% of senior marketers  say they feel overwhelmed rather than empowered by the data available.

In response to these challenges, marketers are investing in AI to improve the status quo. It’s designed to mine large volumes of data, recognise patterns and insights to your business problems, and identify customers associated with them.  

AI goes beyond human perception

There are answers in your data that can help you reach the right customers through better-curated insights. AI helps you surface these at scales and speeds that can’t be accomplished through manual analysis.

That’s why we rely on AI to uncover patterns that aren’t always intuitive to human perception. Digital Alchemy’s uDiscover provides marketers with a refined list of target customers that are highly likely to respond positively to marketing communications aimed at changing their behaviours. uDiscover will synthesize available data and identify relevant behavioural patterns and traits that marketers will be able to target.  

Technology meets behavioural science

Used in conjunction with uDiscover’s extensive library of industry-specific business problems, marketers now have access to cutting-edge customer targeting. For example, for a particular business opportunity such as moving to another bank after the conclusion of a fixed-rate loan period, uDiscover has the capacity to identify all available behavioural indicators and provide marketers insights on which behaviours or traits are more prominent than others.  This is achieved through analysing the behaviour of the customers that have already performed similar actions, and applying the learning to the active customer base. In our banking example, some actions may include calling the bank to inquire about new home loan options or using an online home loan calculator.

Automated customer targeting powered by AI

With such rich customer information at your fingertips comes an opportunity to identify target groups based on their behaviour and establish relevant communications at every step of the customer journey. uDiscover does all the work to make this as seamless and hassle-free as possible.

For instance, when thinking about the home loan example above, uDiscover would work its magic and compile a complete list of customers that have the same trait as the target group. Armed with the list of customers who are most likely to close their loan and move elsewhere, marketers can proactively reach out to retain this particular group of customers. Every time new data is added uDiscover will adapt accordingly, making sure that the list of customers stays relevant and always up to date.

By knowing how a certain group is likely to behave and react, marketers have the power to influence choices before they are made.

Such an ability to influence behaviour will not only transform the way you work, but also the way you target your customers. As more businesses actively implement AI,  marketing automation is inevitable. Within the next three years, all campaign targeting briefs are expected to become self-populated by AI. More accurate targeting will leads to better experiences, which will inevitably create more data to process.

Find out how uDiscover can transform your customer targeting process and reach the right customers through better-curated insights, get in touch here>>>

 

by  Angel Chen, Product Manager at Digital Alchemy.

Angel is passionate about delivering products that solve business problems.  Find more of her thought-provoking pieces on dynamic decisioning and data-driven marketing on our  Blog.