Tricks for growing business with AI
Fine-tune your ad campaign
For decades companies pumped millions of dollars into advertising agencies who worked mysteriously behind closed doors. Many of these men and women were excellent at their jobs and produced phenomenal results, but measuring results was a cloudy process. Many metrics were based on feelings or the finely tuned intuition of the people in the ad company. It could be months before you were able to put a numerical figure on success.
Now, we are able to explore dozens of metrics in real-time and see exactly how well an ad campaign is performing almost instantaneously. We can compare that information against previous campaigns and expectations, and make any needed tweaks within just a few clicks. The idea of traditional advertising companies has gone out of the window in favor of data-driven advertising methods.
Naomi Simson, the host of Shark Tank Australia and a small business owner herself, switched over to using AI as a marketing tool and gave an interview documenting their experiences. She says that within the first few months, there were noticeable improvements. Part of the power of using AI over traditional advertising methods is that, as with Simson’s company, their AI was able to test 6,500 variations of a Google text ad with almost no human effort or time expenditure.
Find new customers
It doesn’t matter how good your ad campaign is if it isn’t getting in front of the right customers. Not only can AI help your company fine-tune your ad campaign, but it can help your company target new customers that you might not even know existed. With rapid trial and error and the ability to create complex interest maps, machine learning and AI can help companies find new potential clients and expand that market. No matter how detailed your customer profile is, there are always untapped and unexpected customer profiles. This is really one of the prime examples of working smarter rather than harder with AI.
See where you are losing customers
Even if we have the best intentions of buying something, it only takes one hiccup, one small inconvenience, to sometimes convince us to close the page and move on. After all, do we *really* need that dog sweater or that Star Wars figurine?
Those within any company spend so much time looking at the company websites or online stores that we can sometimes miss the minute design flaws that cause customers to get lost or frustrated and close the tab. We lose the objective perspective and sometimes miss red flags that would otherwise be slapping us in the face.
By tracking how long users spend on each page of your website and where they lose momentum, you can fine-tune your webpage and check out the process so that your customers never have the chance to wander off your page.
Create better copy
As witnessed by last week’s attempt at using AI to write poetry, AI is still struggling with creative writing but is getting ever better at editing. While even the Microsoft Word Editor of a few years ago was quite good, now tools like Grammarly and Office 365’s AI-based editor can help companies produce clear and clean copy quickly.
These are just a handful of the most common and easily accessible AI tools available for businesses. Not every company will need or could benefit from every use, and there might be others better suited to particular needs. AI is such a diverse tool that no matter if you are a start-up or an established multinational, AI tools can help your company expand and work smarter.
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