As a marketer, you're probably familiar with the power of automation in your workflow and how you can easily set up alerts on your favorite keyword searches and get notified when someone writes about them. With the power of AI, you can automatically categorize prospects based on their data profiles or use machine learning algorithms to predict which prospects will convert into customers. And when.
But what if you could use AI to automate even more aspects of prospecting? What if you could reach more people across all channels at once? And what if you could finally understand your customers' needs better so that your sales team can make better-informed decisions about where and how best to invest precious marketing dollars?
AI and ML can process vast amounts of data much faster than any human being could hope to do on their own. Moreover, they can do it in a way that allows you to use all those insights without having humans go through every single piece of information manually before making any decisions.
The real question is why ML and AI aren't being used more widely. The answer is two-fold: first, many companies haven't yet embraced the benefits of using these technologies; second, even those open to it don't know where they can fit it into their existing strategies.
The good news? You don't need to be an AI and ML expert to use them—you just need to know where to start. At the same time, it's important not to jump into anything too quickly or without forethought. This is why we created this guide and why w want to share it with you: so that you can understand what AI and ML are all about before making any decisions about how they might benefit your business.
Intelligence systems come in two forms: category intelligence and account intelligence.
Category intelligence is the ability to understand the customer's business, where they are in their buying cycle, or what stage of their decision-making process they're at any given time. This includes knowing how long it takes for someone who hasn't bought yet (and perhaps doesn't know much about you) to decide when someone might be ready for an upgrade, whether or not there's room in their budget right now—and more!
Account Intelligence refers to understanding your prospects' needs specific to your product or service offering(s). For example, account Intelligence allows you to see what types of people are most likely going after certain things based on past purchases/decisions made by others who have similar profiles as yours.
AI uses category intelligence to identify the most relevant prospects in your database and build a custom audience based on their interests, behaviors, and preferences.
There's a variety of data sources—including social media platforms like Facebook and Twitter—that AI uses to create lists of people who are interested in specific topics or industries. It can also identify the most relevant prospects for your marketing campaigns (like sending personalized emails) or sales teams (for example, using predictive dialer software).
The technology is still in its early stages but growing fast. A recent study found that 53% of marketers plan to use AI for marketing this year or next. And technology is only getting smarter. As it continues to evolve, marketers can use it more effectively and efficiently. In the meantime, here are some ways you can get started with AI for marketing purposes:
Account intelligence is the ability to understand the customer's business, how it relates to your own, and how you can help them overcome their challenges. For example, when a prospect visits your website, you want them to see an account intelligence to see where they are in their journey with you. This lets them know who they are talking with and what's next on their list (or not).
Account intelligence is the sum of all the data that your accounts have collected. This can be an end-to-end view of your customer's behavior and interactions with you or a specific piece of information like a purchase or a loan application.
The main benefit of Account intelligence is that it helps you prioritize what to do next with your customers. For example, suppose a customer has been in contact with five employees repeatedly (each time asking for something different). In that case, account intelligence could tell you which employee should handle their request next or suggest another option altogether!
Account mapping is a simple but powerful way to get your target audience's attention. When you use account mapping, you can quickly establish a connection with people and build rapport by showing them how they are similar to your ideal customer.
AI enrichment will add valuable information to your existing data sets. Imagine the marketing implications if you had an extensive data set with key information about your customers that you could update in real-time. As a result, you will be able to send relevant offers to your customers and increase conversion rates, resulting in increased profits.
This is what AI enrichment can do for your business - it provides deeper insights into customer behavior so that you can target them more effectively. Data quality can become an issue when dealing with large volumes of data. Sometimes there are not enough quality pieces of data to make accurate predictions. But through AI-enriched data, machine learning algorithms can predict patterns of consumer behaviors without being limited by the constraints imposed by human observation or memory.
The importance of this cannot be overstated; we live in a world where trends change overnight, and business needs to keep up with those changes. You need the latest intelligence on how your customers behave to provide timely products and services.
By adding AI-enriched data to your current strategy, you'll be able to create highly targeted campaigns that deliver results faster than ever before!
Retargeting can be one way to use predictive analytics, but it's not the only way. Here are a few more ways to use AI in your ABM strategy.
For example, you might want to reach out with relevant content on Mondays and Thursdays at 8 am. You can then track engagement rates and optimize accordingly. This technique will help you stay connected while targeting accounts that need additional attention to keep up with the changing customer landscape.
Use machine learning tools to select from possible responses based on the account's persona traits. This will allow you to serve tailored messages based on what prospects want most from their interactions with your company.
And start to dedicate the budget toward more fruitful opportunities instead by looking for specific signals that indicate a prospect may be interested in hearing about your product or service. By prioritizing these signals, ABM specialists can determine how best to allocate resources during peak periods of customer interest.
The data is here, and it shows that AI can improve your prospecting efforts. The challenge is to use this data in a way that truly makes a difference for your business. If you need an expert by your side to help you integrate AI and Machine Learning into your ABM strategy, contact one of our consultants and let's explore the benefits of Artificial Intelligence together.