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Unleashing the Power of AI

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Unleashing the Power of AI

Artificial Intelligence seems to be everywhere we look – from streaming services to self-driving cars and virtual assistants — it’s the talk of the town!

But what exactly is AI? And how can it benefit businesses and their customers?

Let’s take a closer look at artificial intelligence meaning, its rise in popularity, and the advantages and disadvantages of artificial intelligence to determine if incorporating this innovative tool is right for you.

What Is Artificial Intelligence?

Simply put, Artificial intelligence, or AI, is a form of computer programming which enables machines to “think” like humans. This intelligence can be used to process data, solve problems, and make decisions automatically.

AI uses algorithms that analyze and interpret large amounts of data from various sources, allowing it to learn from past experiences to make future decisions.

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Although still in its early stages, the potential benefits of AI are vast, from streamlining businesses to improving healthcare outcomes. It’s exciting to see how this technology is changing the world and how we can harness its power for the greater good.

Popular AI Use Cases

Artificial intelligence use cases are vast, ranging from healthcare and finance to transportation and security.

You must have seen AI-powered chatbots being used for customer service inquiries. These are very popular on ecommerce websites and offer a personalized shopping & browsing experience.

Artificial intelligence is also being used to improve facial recognition software in security applications, as well as for automating predictive analytics in finance and banking.

Not to forget, the healthcare industry is rapidly adopting AI technology to reduce costs, improve diagnosis and treatment accuracy, and provide better health services to patients.

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And, we are sure, you must be familiar with Apple’s Siri, Amazon’s Alexa, and Google assistant – they’re all powered by AI!

Now that you understand the term artificial intelligence and its applications let’s look at the pros and cons of AI.

What Are The Advantages & Disadvantages Of AI?

Any technological advancement has its pros and cons, and AI is no exception. While it has a huge positive potential to revolutionize the world, some serious drawbacks must be considered before investing in AI technology.

Let’s study some advantages of artificial intelligence and its possible downsides as well.

Artificial Intelligence Advantages

  1. Minimum-to-No Errors

One of the key benefits of AI-driven systems is their extreme accuracy and reliability.

Unlike us humans, machines do not make mistakes simply due to fatigue, distractions, or emotional biases. Thus, they can perform tasks with unmatched precision and consistency.

This is the differentiator in industries where human error can be costly, such as healthcare, finance, space exploration, etc.

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  1. Increased Productivity

People are amazing; human intelligence, grit, and work ethic can do magic when used to their full potential.

But human resources have limitations. Our attention and focus span often decrease with time, resulting in lower productivity levels.

Sitting too long in front of a screen can make us tired and sloppy. Even if we start the day fresh, we might have something else on our minds, like a breakup or a sports team losing. It’s “natural” but that’s the thing.

Unlike humans, computers and programs don’t get tired – AI can work round the clock with the same levels of energy and enthusiasm, boosting business productivity.

  1. Improved Decision-Making

AI-driven decision-making is fast, unbiased, and driven purely by data. No personal opinions or judgments are considered when making decisions, thus eliminating any potential bias.

This is particularly advantageous when decisions are difficult and can be adversely affected by emotions or personal opinions – legal, political, and financial matters, for example.

  1. Enhanced Automation

AI-driven systems can take over mundane, repetitive tasks to free up human resources for more creative, innovative tasks.

This helps streamline the process and makes it easier to manage large volumes of data with minimum human intervention.

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In email campaigns, for example, AI can take over the task of sending out 2-3 emails a week. This frees up time and resources for more creative content and allows marketers to tailor their emails to different target audiences better.

  1. Increased Accessibility And Availability

A human being will always need time off. Whether it’s for vacation, health reasons, or fulfilling a family commitment, we humans need to take a break.

AI-driven technologies, on the other hand, are available 24/7. They don’t get sick, don’t need breaks, and can be accessed from anywhere in the world.

This better accessibility and 24/7 uptime make artificial intelligence a great tool for businesses, especially to perform repetitive jobs. Why? They keep doing the same task with the same precision, accuracy, and quality without getting fatigued, over and over again.

  1. Cost Efficient

AI-driven systems are cost-efficient in the long run.

While an initial investment is required for setting up such a system, the ROI is higher in the long run since AI-driven systems require no additional labor costs or salaries.

They also do not need to be trained or upgraded regularly, meaning the cost of maintenance is quite low.

Therefore, when used correctly and efficiently, AI-driven systems can help businesses reduce costs while also improving productivity.

  1. Countless Applications

While human beings can wear multiple hats to do different jobs, AI robots can do infinitely more.

From facial recognition and natural language processing to motion tracking and computer vision, the possibilities are endless with AI.

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Similarly, machine learning algorithms can be used for predictive analytics, allowing businesses to identify potential opportunities and risks before they happen. AI-driven systems can also help in identifying customer preferences and predicting customer behavior.

  1. Improved Security

AI-driven systems offer enhanced security and better protection of sensitive customer data.

AI-driven authentication mechanisms can identify malicious users who are trying to gain unauthorized access to data and systems.

AI-driven systems can also monitor user activity in real time, detect anomalies, and alert administrators to potential threats.

These technologies are essential in today’s digital world, where cyber security is paramount.

AI-driven systems are also much more efficient at detecting and blocking fraud, thus keeping businesses safe from potential financial losses.

Artificial Intelligence Disadvantages

Despite all the advantages of artificial intelligence, it comes with some drawbacks. Let’s look at a few artificial intelligence disadvantages.

  1. Lack Of Emotion & Critical Thinking

AI-driven systems lack the ability to understand human emotions and empathize with people.

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This means that AI-driven systems are not equipped to respond to emotional cues and cannot provide the same level of customer service as a human being.

Also, AI-driven systems cannot think critically and make decisions based on emotions. This can be a major limitation when providing customer service or making complex decisions.

  1. Unpredictable Behavior

AI-driven systems can perform complex tasks and make decisions quickly, but they are not infallible.

AI-driven systems can face unforeseen errors and exhibit unpredictable behavior in certain situations.

This means there is a lack of control over the system, which can lead to undesirable outcomes.

  1. Job Losses

The increased use of AI-driven technologies could lead to job losses as machines take over human labor.

This could significantly impact the economy, leading to a reduction in purchasing power and an increase in unemployment.

Therefore, AI-driven technologies must be used responsibly, and their impact on the job market should be considered carefully.

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  1. Ethical Issues

The increased use of AI-driven technologies has also raised ethical concerns, as they can be used to manipulate data, influence public opinion, and even control people’s behavior.

The potential for misuse of AI-driven technologies is real, meaning governments and businesses need to be aware of the ethical implications of using these technologies.

  1. High Cost

The cost of developing and deploying AI-driven technologies can be quite high, making them inaccessible to large businesses and highly advanced organizations.

Therefore, it is important for businesses to consider the cost implications before investing in advanced AI-based technologies.

Overall, artificial intelligence offers numerous benefits like digital assistance, high productivity & efficiency, improved security, and more.

However, artificial intelligence disadvantages like lack of empathy and unpredictable behavior mean it can’t imitate the human brain.

The ethical issues and high implementation costs also signify that AI can’t entirely replace human resources.

Should You Adopt Artificial Intelligence?

Being diplomatic, we’d say: “only you can decide if AI is the right choice for your business” or “you have to weigh the pros and cons of AI” — that’s nonsense!

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The truth is that AI offers excellent potential for businesses of all sizes, and it’s becoming a requirement to stay relevant in today’s tech-driven world.

Businesses and individuals that know how to leverage AI-driven technologies can see improved efficiency, cost savings, and a competitive edge over their peers.

So, yes, you should definitely consider adopting AI-driven technologies for your business. The long-term benefits could far outweigh the risks that come with it.

Strategically Integrate Artificial Intelligence For Maximum Benefits

While AI has many advantages, it should be approached with caution.

Incorporating artificial intelligence without a proper plan or human oversight can lead to vulnerabilities. For instance, uploading content without fact-checking could risk a decline in your reputation or visibility on platforms like Google.

Moreover, while isolated AI projects may bring success, you need to ensure scalability and plan for the long term to maintain your success.

Comprehensive planning, fact-checking, and human oversight are essential to ensure that the AI-driven technologies you adopt actually deliver tangible benefits.

Sounds complicated? Check out this AI Bootcamp that offers a holistic approach to understanding and leveraging AI for your brand and team’s success.

Or, if that sounds too much work, let Mongoose Media infuse the power of AI into your marketing and business. We offer premium AI content at near-freelance pricing, allowing you to benefit from artificial intelligence without breaking the bank.P.S.Our Pinterest Services (backed by AI tools) are worth checking out!

 


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Why We Are Always ‘Clicking to Buy’, According to Psychologists

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Why We Are Always 'Clicking to Buy', According to Psychologists

Amazon pillows.

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A deeper dive into data, personalization and Copilots

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A deeper dive into data, personalization and Copilots

Salesforce launched a collection of new, generative AI-related products at Connections in Chicago this week. They included new Einstein Copilots for marketers and merchants and Einstein Personalization.

To better understand, not only the potential impact of the new products, but the evolving Salesforce architecture, we sat down with Bobby Jania, CMO, Marketing Cloud.

Dig deeper: Salesforce piles on the Einstein Copilots

Salesforce’s evolving architecture

It’s hard to deny that Salesforce likes coming up with new names for platforms and products (what happened to Customer 360?) and this can sometimes make the observer wonder if something is brand new, or old but with a brand new name. In particular, what exactly is Einstein 1 and how is it related to Salesforce Data Cloud?

“Data Cloud is built on the Einstein 1 platform,” Jania explained. “The Einstein 1 platform is our entire Salesforce platform and that includes products like Sales Cloud, Service Cloud — that it includes the original idea of Salesforce not just being in the cloud, but being multi-tenancy.”

Data Cloud — not an acquisition, of course — was built natively on that platform. It was the first product built on Hyperforce, Salesforce’s new cloud infrastructure architecture. “Since Data Cloud was on what we now call the Einstein 1 platform from Day One, it has always natively connected to, and been able to read anything in Sales Cloud, Service Cloud [and so on]. On top of that, we can now bring in, not only structured but unstructured data.”

That’s a significant progression from the position, several years ago, when Salesforce had stitched together a platform around various acquisitions (ExactTarget, for example) that didn’t necessarily talk to each other.

“At times, what we would do is have a kind of behind-the-scenes flow where data from one product could be moved into another product,” said Jania, “but in many of those cases the data would then be in both, whereas now the data is in Data Cloud. Tableau will run natively off Data Cloud; Commerce Cloud, Service Cloud, Marketing Cloud — they’re all going to the same operational customer profile.” They’re not copying the data from Data Cloud, Jania confirmed.

Another thing to know is tit’s possible for Salesforce customers to import their own datasets into Data Cloud. “We wanted to create a federated data model,” said Jania. “If you’re using Snowflake, for example, we more or less virtually sit on your data lake. The value we add is that we will look at all your data and help you form these operational customer profiles.”

Let’s learn more about Einstein Copilot

“Copilot means that I have an assistant with me in the tool where I need to be working that contextually knows what I am trying to do and helps me at every step of the process,” Jania said.

For marketers, this might begin with a campaign brief developed with Copilot’s assistance, the identification of an audience based on the brief, and then the development of email or other content. “What’s really cool is the idea of Einstein Studio where our customers will create actions [for Copilot] that we hadn’t even thought about.”

Here’s a key insight (back to nomenclature). We reported on Copilot for markets, Copilot for merchants, Copilot for shoppers. It turns out, however, that there is just one Copilot, Einstein Copilot, and these are use cases. “There’s just one Copilot, we just add these for a little clarity; we’re going to talk about marketing use cases, about shoppers’ use cases. These are actions for the marketing use cases we built out of the box; you can build your own.”

It’s surely going to take a little time for marketers to learn to work easily with Copilot. “There’s always time for adoption,” Jania agreed. “What is directly connected with this is, this is my ninth Connections and this one has the most hands-on training that I’ve seen since 2014 — and a lot of that is getting people using Data Cloud, using these tools rather than just being given a demo.”

What’s new about Einstein Personalization

Salesforce Einstein has been around since 2016 and many of the use cases seem to have involved personalization in various forms. What’s new?

“Einstein Personalization is a real-time decision engine and it’s going to choose next-best-action, next-best-offer. What is new is that it’s a service now that runs natively on top of Data Cloud.” A lot of real-time decision engines need their own set of data that might actually be a subset of data. “Einstein Personalization is going to look holistically at a customer and recommend a next-best-action that could be natively surfaced in Service Cloud, Sales Cloud or Marketing Cloud.”

Finally, trust

One feature of the presentations at Connections was the reassurance that, although public LLMs like ChatGPT could be selected for application to customer data, none of that data would be retained by the LLMs. Is this just a matter of written agreements? No, not just that, said Jania.

“In the Einstein Trust Layer, all of the data, when it connects to an LLM, runs through our gateway. If there was a prompt that had personally identifiable information — a credit card number, an email address — at a mimum, all that is stripped out. The LLMs do not store the output; we store the output for auditing back in Salesforce. Any output that comes back through our gateway is logged in our system; it runs through a toxicity model; and only at the end do we put PII data back into the answer. There are real pieces beyond a handshake that this data is safe.”

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Why The Sales Team Hates Your Leads (And How To Fix It)

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Why The Sales Team Hates Your Leads (And How To Fix It)

Why The Sales Team Hates Your Leads And How To

You ask the head of marketing how the team is doing and get a giant thumbs up. 👍

“Our MQLs are up!”

“Website conversion rates are at an all-time high!”

“Email click rates have never been this good!”

But when you ask the head of sales the same question, you get the response that echoes across sales desks worldwide — the leads from marketing suck. 

If you’re in this boat, you’re not alone. The issue of “leads from marketing suck” is a common situation in most organizations. In a HubSpot survey, only 9.1% of salespeople said leads they received from marketing were of very high quality.

Why do sales teams hate marketing-generated leads? And how can marketers help their sales peers fall in love with their leads? 

Let’s dive into the answers to these questions. Then, I’ll give you my secret lead gen kung-fu to ensure your sales team loves their marketing leads. 

Marketers Must Take Ownership

“I’ve hit the lead goal. If sales can’t close them, it’s their problem.”

How many times have you heard one of your marketers say something like this? When your teams are heavily siloed, it’s not hard to see how they get to this mindset — after all, if your marketing metrics look strong, they’ve done their part, right?

Not necessarily. 

The job of a marketer is not to drive traffic or even leads. The job of the marketer is to create messaging and offers that lead to revenue. Marketing is not a 100-meter sprint — it’s a relay race. The marketing team runs the first leg and hands the baton to sales to sprint to the finish.

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To make leads valuable beyond the vanity metric of watching your MQLs tick up, you need to segment and nurture them. Screen the leads to see if they meet the parameters of your ideal customer profile. If yes, nurture them to find out how close their intent is to a sale. Only then should you pass the leads to sales. 

Lead Quality Control is a Bitter Pill that Works

Tighter quality control might reduce your overall MQLs. Still, it will ensure only the relevant leads go to sales, which is a win for your team and your organization.

This shift will require a mindset shift for your marketing team: instead of living and dying by the sheer number of MQLs, you need to create a collaborative culture between sales and marketing. Reinforce that “strong” marketing metrics that result in poor leads going to sales aren’t really strong at all.  

When you foster this culture of collaboration and accountability, it will be easier for the marketing team to receive feedback from sales about lead quality without getting defensive. 

Remember, the sales team is only holding marketing accountable so the entire organization can achieve the right results. It’s not sales vs marketing — it’s sales and marketing working together to get a great result. Nothing more, nothing less. 

We’ve identified the problem and where we need to go. So, how you do you get there?

Fix #1: Focus On High ROI Marketing Activities First

What is more valuable to you:

  • One more blog post for a few more views? 
  • One great review that prospective buyers strongly relate to?

Hopefully, you’ll choose the latter. After all, talking to customers and getting a solid testimonial can help your sales team close leads today.  Current customers talking about their previous issues, the other solutions they tried, why they chose you, and the results you helped them achieve is marketing gold.

On the other hand, even the best blog content will take months to gain enough traction to impact your revenue.

Still, many marketers who say they want to prioritize customer reviews focus all their efforts on blog content and other “top of the funnel” (Awareness, Acquisition, and Activation) efforts. 

The bottom half of the growth marketing funnel (Retention, Reputation, and Revenue) often gets ignored, even though it’s where you’ll find some of the highest ROI activities.

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Most marketers know retaining a customer is easier than acquiring a new one. But knowing this and working with sales on retention and account expansion are two different things. 

When you start focusing on retention, upselling, and expansion, your entire organization will feel it, from sales to customer success. These happier customers will increase your average account value and drive awareness through strong word of mouth, giving you one heck of a win/win.

Winning the Retention, Reputation, and Referral game also helps feed your Awareness, Acquisition, and Activation activities:

  • Increasing customer retention means more dollars stay within your organization to help achieve revenue goals and fund lead gen initiatives.
  • A fully functioning referral system lowers your customer acquisition cost (CAC) because these leads are already warm coming in the door.
  • Case studies and reviews are powerful marketing assets for lead gen and nurture activities as they demonstrate how you’ve solved identical issues for other companies.

Remember that the bottom half of your marketing and sales funnel is just as important as the top half. After all, there’s no point pouring leads into a leaky funnel. Instead, you want to build a frictionless, powerful growth engine that brings in the right leads, nurtures them into customers, and then delights those customers to the point that they can’t help but rave about you.

So, build a strong foundation and start from the bottom up. You’ll find a better return on your investment. 

Fix #2: Join Sales Calls to Better Understand Your Target Audience

You can’t market well what you don’t know how to sell.

Your sales team speaks directly to customers, understands their pain points, and knows the language they use to talk about those pains. Your marketing team needs this information to craft the perfect marketing messaging your target audience will identify with.

When marketers join sales calls or speak to existing customers, they get firsthand introductions to these pain points. Often, marketers realize that customers’ pain points and reservations are very different from those they address in their messaging. 

Once you understand your ideal customers’ objections, anxieties, and pressing questions, you can create content and messaging to remove some of these reservations before the sales call. This effort removes a barrier for your sales team, resulting in more SQLs.

Fix #3: Create Collateral That Closes Deals

One-pagers, landing pages, PDFs, decks — sales collateral could be anything that helps increase the chance of closing a deal. Let me share an example from Lean Labs. 

Our webinar page has a CTA form that allows visitors to talk to our team. Instead of a simple “get in touch” form, we created a drop-down segmentation based on the user’s challenge and need. This step helps the reader feel seen, gives them hope that they’ll receive real value from the interaction, and provides unique content to users based on their selection.

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So, if they select I need help with crushing it on HubSpot, they’ll get a landing page with HubSpot-specific content (including a video) and a meeting scheduler. 

Speaking directly to your audience’s needs and pain points through these steps dramatically increases the chances of them booking a call. Why? Because instead of trusting that a generic “expert” will be able to help them with their highly specific problem, they can see through our content and our form design that Lean Labs can solve their most pressing pain point. 

Fix #4: Focus On Reviews and Create an Impact Loop

A lot of people think good marketing is expensive. You know what’s even more expensive? Bad marketing

To get the best ROI on your marketing efforts, you need to create a marketing machine that pays for itself. When you create this machine, you need to think about two loops: the growth loop and the impact loop.

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  • Growth loop — Awareness ➡ Acquisition ➡ Activation ➡ Revenue ➡ Awareness: This is where most marketers start. 
  • Impact loop — Results ➡ Reviews ➡ Retention ➡ Referrals ➡ Results: This is where great marketers start. 

Most marketers start with their growth loop and then hope that traction feeds into their impact loop. However, the reality is that starting with your impact loop is going to be far more likely to set your marketing engine up for success

Let me share a client story to show you what this looks like in real life.

Client Story: 4X Website Leads In A Single Quarter

We partnered with a health tech startup looking to grow their website leads. One way to grow website leads is to boost organic traffic, of course, but any organic play is going to take time. If you’re playing the SEO game alone, quadrupling conversions can take up to a year or longer.

But we did it in a single quarter. Here’s how.

We realized that the startup’s demos were converting lower than industry standards. A little more digging showed us why: our client was new enough to the market that the average person didn’t trust them enough yet to want to invest in checking out a demo. So, what did we do?

We prioritized the last part of the funnel: reputation.

We ran a 5-star reputation campaign to collect reviews. Once we had the reviews we needed, we showcased them at critical parts of the website and then made sure those same reviews were posted and shown on other third-party review platforms. 

Remember that reputation plays are vital, and they’re one of the plays startups often neglect at best and ignore at worst. What others say about your business is ten times more important than what you say about yourself

By providing customer validation at critical points in the buyer journey, we were able to 4X the website leads in a single quarter!

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So, when you talk to customers, always look for opportunities to drive review/referral conversations and use them in marketing collateral throughout the buyer journey. 

Fix #5: Launch Phantom Offers for Higher Quality Leads 

You may be reading this post thinking, okay, my lead magnets and offers might be way off the mark, but how will I get the budget to create a new one that might not even work?

It’s an age-old issue: marketing teams invest way too much time and resources into creating lead magnets that fail to generate quality leads

One way to improve your chances of success, remain nimble, and stay aligned with your audience without breaking the bank is to create phantom offers, i.e., gauge the audience interest in your lead magnet before you create them.

For example, if you want to create a “World Security Report” for Chief Security Officers, don’t do all the research and complete the report as Step One. Instead, tease the offer to your audience before you spend time making it. Put an offer on your site asking visitors to join the waitlist for this report. Then wait and see how that phantom offer converts. 

This is precisely what we did for a report by Allied Universal that ended up generating 80 conversions before its release.

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The best thing about a phantom offer is that it’s a win/win scenario: 

  • Best case: You get conversions even before you create your lead magnet.
  • Worst case: You save resources by not creating a lead magnet no one wants.  

Remember, You’re On The Same Team 

We’ve talked a lot about the reasons your marketing leads might suck. However, remember that it’s not all on marketers, either. At the end of the day, marketing and sales professionals are on the same team. They are not in competition with each other. They are allies working together toward a common goal. 

Smaller companies — or anyone under $10M in net new revenue — shouldn’t even separate sales and marketing into different departments. These teams need to be so in sync with one another that your best bet is to align them into a single growth team, one cohesive front with a single goal: profitable customer acquisition.

Interested in learning more about the growth marketing mindset? Check out the Lean Labs Growth Playbook that’s helped 25+ B2B SaaS marketing teams plan, budget, and accelerate growth.


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