While AI as a tool is not new, more and more businesses are looking to take advantage of it these days. From on-demand customer service and content generation to customer base management, there are many ways a business can leverage the power of AI to boost its ability to attract and retain customers.
As experts, the members of Newsweek Expert Forum have experience navigating the ongoing process of implementing and maintaining AI. Below, 10 of them discuss how businesses can effectively use artificial intelligence for customer acquisition and the positive impact it can have on the bottom line.
1. Identify Leads Using Ethical Frameworks
The power of artificial intelligence has been evolving for decades as part of the fourth industrial revolution. One way for businesses to use AI for customer acquisition includes developing ethical frameworks for identifying leads using predictive analytics. Additionally, it can be used for social media listening and engagement, voice search optimization, natural language processing and advertising across platforms. - Lillian Gregory, The 4D Unicorn LLC
2. Generate Personalized Outbound Messages
One way that businesses can effectively leverage artificial intelligence for customer acquisition is to use it to generate highly personalized outbound messages at scale. According to McKinsey, 71 percent of consumers expect companies to deliver personalized interactions. This has been done manually historically, but today AI and language learning models are the keys to unlocking these efforts at scale. - Chloe Alpert, Enobl
3. Strengthen Written Content
Our website utilizes artificial intelligence technology to enhance blog posts, increase engagement through email and provide auto responses via a chatbot. This AI-powered system can perform amazing rewrites of your emails and newsletters, resulting in a transformation of the tone and overall quality of professional content. - Tammy Sons, Tn Nursery
4. Identify Consistent Patterns and Behaviors
Business leaders can use artificial intelligence to analyze customer data and identify patterns and behaviors that indicate prospective clients. By leveraging AI algorithms and machine learning, companies can focus marketing efforts on personalizing customer experiences while also optimizing lead generation strategies to increase customer acquisition rates. - Alan Wozniak, Business Health Matters (BHM) Executive Consulting
5. Facilitate Real-Time Engagement Through Chatbots
One way businesses can leverage artificial intelligence is through deploying AI-driven chatbots for real-time customer engagement. These digital assistants provide instant responses, guide product choices and answer queries 24/7, impressing today's always-online consumer and ensuring that businesses never miss a beat—or a potential client. - Joseph Soares, IBPROM Corp.
6. Assess Past Consumer Behavior
Behavioral time travel is a method that uses artificial intelligence to assess past consumer behaviors, denoting not only what consumers wanted, but also when they wanted it. This approach can give businesses a sixth sense for ascertaining consumer desires and capitalizes on the psychological concept of state-dependent memory where people's moods can trigger specific needs or wants. - Dr. Kira Graves, Kira Graves Consulting
7. Accelerate Machine Learning Processes
Artificial intelligence can short circuit the time, effort and cost it takes to build machine learning models that personalize customer experiences. Machine learning models require considerable effort to select predictive features, train models and detect model drift. AI can use large amounts of unstructured data and infer what content is interesting, moving us closer to a world where AI is acting as a consultant on behalf of an individual. - Ant Phillips, D4t4 Solutions Plc and Celebrus
8. Optimize Time and Resources
One of AI's greatest benefits is saving time and resources on the research part. Identifying niches and creating target lists are very time-consuming when they need to be done manually. - Krisztina Veres, Veres Career Consulting
9. Examine Vast Amounts of Customer Information
AI-powered data analytics and insights can be leveraged to analyze vast amounts of information. This will allow businesses to gain insights into customer behavior and market trends as well as marketing automation tools to optimize advertising campaigns and target the right audience with personalized content. - Britton Bloch, Navy Federal
10. Craft Compelling Content
Generative AI can be used to create compelling content, including audio, code, images, text, simulations and videos of interest to target the clients you wish to engage and acquire. By understanding their preferences—from what kind of content they consume to how frequently and in what format—you can use AI to act smarter about how, where, when, what and how often you post. - Karen Mangia, The Engineered Innovation Group
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