Here's the top stats and trends that are redefining the digital landscape
Artificial Intelligence (AI) is booming, promising to reshape the way we live and work. The impact of this new technology seems to have no boundaries, becoming a top priority to achieve any business goal. AI is currently being adopted across various industries to perform all kinds of business operations, especially in the marketing sector. But... How is AI marketing taking this industry to the next level?
In today's article we'll delve deep into the top AI marketing stats and trends of 2024. Through the latest artificial intelligence data we'll understand how this technology is changing the way we work and how its adoption is critical in this industry.
Artificial intelligence has experienced an exponential growth in value since 2020, and it is expected it won't stop growing any time soon. In 2020, the market for AI in marketing was estimated to be $12.05 billion and it is expected it will reach $107.54 billion in 2028.
Artificial intelligence has landed in our lives and changed them in a way that currently, it's hard to imagine a future without it. According to Gartner, AI adoption by businesses has grown more than 270% over the past four years. Fortune Business Insights states also that by 2027, the global AI market will reach $267 billion. If we keep in mind that the value of the AI market was $27.23 billion in 2019, it means it increased by ten times in just eight years!
While you might not be aware of it, many of the products and services you use daily are already powered by AI. In fact, marketing is one of the sectors that is making the most out of this new technology. Would you like to know how? Here's how AI is used in marketing.
Knowing your audience is crucial for a good marketing campaign. Have you ever wondered how that advert of Facebook, Google, Instagram or Quora seems to be spot-on and relevant to your needs? The answer is simple: AI.
Artificial intelligence is able to identify audiences as well as check how well adverts performed with them. Through it, it is able to consider the KPIs to use, range, performance and distribute the advert with the audiences who are more likely to to buy from.
By sharing your existing data, AI is able to create a list of leads on potential new customers and clients. Thanks to it, it is possible to equip salespeople with all necessary information to provide a better service in a record time. This saves a lot of time to marketers who no longer need to manually scourge leads from multiple sources, being now able to spend that precious task in more important tasks.
To sell a product, it is important to understand the client's needs. Thanks to artificial intelligence (AI) and machine learning (ML) it is now possible to deliver a relevant and personal experience to a customer in just a few seconds. According to Everstring, 71% of marketers are exclusively using AI for this purpose.
Content personalization can also be translated into a better understanding of customers. Every business needs to have a clear idea of what their clients want and also, keep their attention by offering exactly what they are looking for. AI is able to create and find a buyer persona with ease. This translates into content that has been tailor-made for your client, ensuring their satisfaction.
When mere personalization isn't enough to hit the perfect pitch, businesses look to find the perfect match, sale or service for a specific customer. When a company has over a thousand customers per day, that isn't possible. However, with the help of AI, making an exclusive offer for one particular customer is now possible.
Artificial intelligence can be used along with Machine Learning tools to improve the customer's experience and help them make a purchase and raise their loyalty to a brand. According to a recent report made by Salesforce, more than 62% of customers are willing to let AI improve their user experience.
Machiavelli wrote "Keep your friends close, but your enemies closer" and he wasn't wrong. The importance of knowing what your competitors are doing can be vital to give businesses the help they need to evolve and make them more successful. Sometimes, the best business strategies can be drafted by simply understanding what your competitors are up to and doing a thorough research on each of their pages, social media platforms, etc. AI can do that for you, saving companies precious time they can spend on other tasks.
Marketers often use AI to perform SEO tasks such as creating business strategies as well as helping a page to rank better. For example, artificial intelligence is able to detect and notify if a company has been mentioned somewhere. Machine learning algorithms are also used to better comprehend the purpose behind term usage and content of searches. 65% of marketers stated that they saw the SEO of their business improve thanks to AI.
The best way to solve a customer's problem or improve your brand is to listen to what they have to say about you. AI is now able to scout in social media sites and recognize all the data that might interest you or your company. Thanks to these artificial intelligence tools it is now easy for businesses to understand what customers talk about them on the Internet.
Having a good email marketing campaign can boost a business's sales as well as increase their amount of loyal customers. Through natural language technology, AI is now able to create emails that recipients are likely to open, click and respond to. Always keeping in mind the brand's language!
According to Salesforce, 25% of customer service organizations are currently using AI-powered chatbots. These are able to solve common queries in real time, answer a broad range of questions using the content of a website, schedule sales and eliminate lead generation forms.
Thanks to Machine Learning and Natural Language Processing, AI is also used in customer support. Thanks to its ability to process tons of data in seconds, artificial intelligence can understand the customer, identify the issues they are facing, analyze their behavior and find out a proper solution to their problem.
Content generation through AI has changed a lot in the past few years. With the release of GPT-4 and its human-like writing style, now it's possible to produce content that can't easily be told apart from one created by an actual person. According to a survey made by Tooltester, 46.9% of the surveyed thought that content written by GPT-4 was actually made by a human.
Artificial intelligence (AI) can examine a companies' website, analyze it and notify the business of any problem that might be affecting it. From large inefficient pictures that slow down a site, SEO penalties, coding errors as well as errors in the conversion rate, AI has become a precious tool to detect any problem with a website.
AI is widely used by ad platforms to boost the efficiency of adverts in a marketing campaign. Thanks to the data gathered by artificial intelligence, now it's easier to know the performance of an ad and its effectiveness, as well as take the necessary steps to make sure it will be relevant to users and that every click on it will convert into a new sale.
Generative AI has unleashed new opportunities for businesses and marketers, letting them create content with ease as well as automate tasks at work that require communication with customers. According to Salesforce and HubSpot, the most common uses of gen AI by marketers is basic content creation (76%), copywriting (76%), inspiring their creative thinking (71%), analyzing market data (63%) and generating image assets (62%).
Marketing Technology (MarTech) is currently using artificial intelligence (AI) and generative AI (GenAI) to increase customer engagement to unprecedented levels. With 60% of marketers prioritizing AI investments as their main focus to improve their strategies, we can safely say GenAI has the potential to transform marketing as we know it.
Here are the top 5 trends on how AI is changing marketing in 2024:
Artificial intelligence is currently a very valuable component in any marketing strategy. 61% of B2B (Business-to-Business) marketers find it crucial for their company, among them 29% are currently using AI while 32% are planning to use it in the future. Only 39% of current marketers are not using or planning to use AI in their business. It is expected that by 2025, 75% of B2B sales organizations will use both Artificial Intelligence and traditional sales solutions.
According to the data gathered by Businessdasher, 63% of B2B marketers have experienced an increase in revenue thanks to AI. Also, 26% of them also noticed an increase in lead generation volume by 10-20%. Finally, 99% of B2B marketers using Artificial Intelligence for their business strategies believe AI chatbots improved their lead conversion rates.
Regarding confidence levels in using AI for their strategies, 13% of B2B marketers are very confident about AI, 55% are somewhat confident and 33% are not confident at all about it.
A recent survey made by Statista on the effectiveness of artificial intelligence in email marketing shows how 50.7% of marketers believe that AI is more effective than traditional approaches. The same report states that 10.4% of businesses haven't seen any significant difference in results, while only 9% state that is as effective and traditional approaches. The remaining 29.9% are uncertain about the results.
Another study made by Statista also presents the positive impact of AI in email marketing, showing how the use of Artificial Intelligence increased their revenue by 41% and generated a CTR higher by 13.44%
It is estimated that currently, 63% of marketers are employing AI tools for their strategies,
Artificial intelligence is broadly used to generate content in marketing strategies. It is estimated that 44% of marketers are using or have used AI at some point for creating content. According to a recent survey, companies experienced a 130% increase in click through rates through the use of AI. But... What is Artificial Intelligence used for in content?
A recent survey made by Siege Media shows that AI is mostly used for content ideation (71%), content drafting (47%) and strategic purposes (40%). 82% of marketers also believe that the quality of AI generated content is as good as human written one.
Artificial intelligence is changing the way we work across various industries and it's definitely having a severe impact in the marketing sector. Aiding in tasks such as marketing automation, content creation, SEO or customer behavior analysis (among others), AI is streamlining complex processes and delivering excellent results in just a few seconds.
Even though we're in its early stages, marketing in AI is expected to bring a host of benefits to companies that ultimately translate into growth and revenue. While we can't say for sure what the future of AI holds for us, we can expect that in the years to come, marketing will go hand in hand with this new technology.
