Today, machine learning marketing is a powerful strategy for companies looking to grow. Whether you’re a small-to-midsized business (SMB) or established enterprise, your organization can leverage machine learning in marketing to increase your revenue and overcome your competitors.
Not sure how you can use machine learning marketing? Get inspired with these six innovative uses:
1. Customer support
As consumers and business buyers continue to shop online, it’s become critical for businesses to provide stellar customer support. It’s a resource-intensive (and expensive) process, however, to maintain a talented team of support specialists. That’s where machine learning can help.
With machine learning marketing, your business can develop a seamless customer support system. You can take advantage of technology like chatbots, for example, to provide shoppers and clients with 24/7 assistance.
Companies can also use machine learning to inform and teach live chat support team members. As an example, machine learning can speed up reviewing and evaluating past support requests and custom behaviors, allowing your business to improve live support processes.
A company with unparalleled customer support can stand apart from competitors easily.
People talk, and when you provide a top-notch customer experience, clients will share that with everyone in their personal and professional network. These word-of-mouth recommendations can help your business earn new customers, as well as revenue.
2. Personalized marketing
With the rise of digital marketing, it’s become possible for companies of all sizes to provide consumers and business buyers with a customized experience. Via a variety of strategies, from your website’s design to your email marketing strategy, you can offer users a custom shopping experience.
Product recommendation emails, for example, are a common example of personalization marketing. Businesses can use additional tools, like PersonalizeFX, to customize a user’s experience. This tool adapts your site’s content to a user, based on their location, industry, previous actions, and more.
Your company can also use machine learning to personalize customer support interactions. This application allows your business to leverage machine learning marketing in multiple ways. You’re improving your customer support, as well as customizing the experience for users.
In addition to personalizing the ongoing experience of shoppers and clients, companies also use machine learning (plus personalization) in the development of new products. A software business, for example, may use machine learning to provide users a personalized greeting upon startup.
Overall, personalization provides your company with a useful way to engage users, as well as provide them with a memorable experience. Delivering, or even overdelivering on consumer expectations can result in positive chatter about your business, which can drive purchases and visits to your site.
3. Content generation
Content marketing is a core component of digital marketing strategies. Your business wants to develop relevant and shareable content for your target marketing, whether it’s a blog post, infographic, or online guide.
Businesses can struggle when it comes to generating content topics, though.
Machine learning in marketing, however, can help your team make informed decisions about content topics. MarketingCloudFX, for example, features machine learning software that evaluates and assesses the value of content topics. It can even analyze the value of current content on your site.
When you use machine learning marketing for content, your business can dedicate your time, effort, and money to content that matters. You can publish blog posts, design infographics, and create online guides that offer value to not only your target market but also your company’s goals for growth.
This opportunity makes machine learning marketing a must for businesses investing in content.
4. Upsell and cross-sell strategies
Your company can also enhance your sales strategies with machine learning. From upselling to cross-selling, your team can use machine learning data and its assessments to build an improved approach for increasing your revenue and customer base.
By reviewing the purchase behavior of your client base, your machine learning software can highlight behaviors that indicate a high probability of success for an upsell or cross-sell. You can automate this process too, like by having an automated email drip campaign for product recommendations.
Without machine learning, it’s difficult for your sales team to assess potential upsells. It requires a significant amount of time not only to review your data but also to discover patterns or trends. Machine learning marketing eliminates this time-consuming process and introduces accuracy to it.
If you want to maximize the productivity of your sales team, as well as targeting, machine learning marketing is the way to go. In this application, it can have a tremendous short- and long-term impact on your success.
5. Lead scoring
Introduce machine learning to your marketing and sales efforts, and your company can improve the accuracy of your lead scoring. Instead of your sales team dedicating their time to every lead, they focus their efforts on the most valuable ones.
With machine learning technology like LeadManagerFX and LeadNurtureFX, for example, your sales team can score, track, and nurture leads. Even better, these applications allow your team to track the journey of every lead, as well as their interactions with your website, company, and team members.
Again, with these applications of machine learning, your business saves time. You direct your attention, time, and effort to the most valuable clients. This approach not only has a direct impact on your bottom line but also the quality of your customers.
6. Risk prediction and intervention
Every company copes with churn rate. While your business will always lose clients, you can reduce the number with machine learning marketing. With a machine learning application, your company can develop risk prediction and intervention models to help your team counter a high churn rate.
An accurate risk prediction and intervention model, for example, can provide your marketing and sales teams with actionable insight for reducing your churn rates. You may discover certain user behaviors, for instance, that indicate a high probability to churn and develop campaigns to counter that behavior.
If your company offers a service, for example, you may send an email to at-risk clients with a discount for their next service or payment. Or, you may create a promotional bundle that gives clients access to additional tools or services at no additional fee.
When it comes to intervention models, you have a variety of options available. Your team can also assess the performance of these models with machine learning. You don’t have to spend hours reviewing the data because your machine learning software takes care of it for you.
As you test and refine your risk prediction and intervention models, your business can start to counter your churn rate. With a lower churn rate, your company can improve its revenue numbers, increase its customer base, and enhance its reputation among current and future customers.
All these results translate to real growth for your business. This kind of growth can power your company’s push to expand into a new area or develop a new product or service. It helps you accomplish some challenging goals.
Leverage machine learning marketing with MarketingCloudFX
Are you ready to take advantage of machine learning marketing in your business?
With MarketingCloudFX, your company can use machine learning to enhance your sales and marketing strategies. This software suite features a range of essential tools, including LeadNurtureFX, PersonalizeFX, and LeadManagerFX.
Learn how MarketingCloudFX can help your business with a free demo today!