Digital marketing is evolving, with spending on search, display, video and email expected to hit $120 billion by 2022. One emerging technology that meets all of the above is conversational marketing, or the ability to use AI to personalize one-on-one conversations with your customers, typically through apps.
Now, for the first time, the rise of messaging as a dominant mobile use case coupled with the emergence of real-world AI is making this possible and giving brands a voice.
An advisor says it's lazy to think that AI is only concerned with automation, and I'd like to add that it's not about removing "friction" from our smartphones. Where things get interesting is when you can make fundamental improvements to industries and create entirely new types of jobs. According to the advisor - conversational marketing has the potential too.
What's wrong with digital marketing today?
Today's digital marketing is really about people watching. Whether it's pixels and cookies that track you, observing the sites you visit or looking over your shoulder. At the same time, search or track who you are friends with, what you like, what you read or your political affiliations. We all know we can't stay online without the big tech companies tracking us.
Here are some examples:
Retargeted display ads.
These ads follow you around the web or social media, sometimes for days, reminding you of a search you've done or a website you've visited, often for things you don't even know. Worse are the ads that appear the day after you make your purchase - for the product you just purchased!
Search by intent.
For many brands and products, expectations, advice, guidance, and recommendations are far more important than just finding a set of search results. Research is best when one already knows what one wants, but it's not so good at helping one figure out what it could be.
As marketers cutely craft emails for the customers, but when receiving them, everyone treats them as spam. It's 2022, and most consumers are on mobile devices, and most mobile consumers spend most of their time on Facebook or Instagram. Email is like work, and it's an old-fashioned way to communicate with customers. Not to mention that email marketing is one-way!
That's why Conversional marketing will be the best next thing in today's digital era. Best time to invest / use of CRM software and other conversational techniques to help grow your business.
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