The professionals in retail marketing have watched machine learning and artificial intelligence, or AI, become dominant in their industry for the last several years. Traditional marketing is in the past, and the new marketing strategies are dependent on AI. Automated marketing platforms, personalization and A/B testing have coined the word marketicians. The marketicians have the necessary skills to manage and operate platforms driven by AI, and create intelligent, effective and creative customer communication. The expectation for 2018 is AI will be used by retail teams for new approaches to marketing, and the integration of technological platforms.
AI, machine learning and A/B testing have generated a lot of hype, and science teams and drive vendors are using strategic iniatives, optimization solutions and deep learning to enable consistently more complicated R&D processes. The role of the CMO is being replaced with technological marketing experts as the influence of AI continues to expand throughout the field. Due to the necessary time and expertise required, a lot of the retail departments are falling behind, or failing entirely with the new technology. Science, data and analytics groups are collaborating with many of the CMO’s, and an extensive background in marketing is becoming a necessity for mid-management.
Personalization is becoming standard in retail to achieve and maintain the loyalty of their customers. To stay competitive, businesses are using technology including optimization platforms, orchestration analytics, A/B testing, recommendation engines and data based promotional offers. The attributes of the retail campaigns have changed, and focus on personalization and customer satisfaction. AI is being used to determine the preferences and histories of the consumer.
The most loyal customer base is being earned online, and data has become critical for retail. Personalization technology was used in the beginning by online retail, and the physical locations are having difficulty staying competitive. Connecting physical locations and ecommerce is challenging, and the new brands of the younger generation are expected to stay ahead of the competitors in 2018. One of the biggest challenges will be for the marketing managers and CMO’s as they try to compete in 2018. Their departments must be reinvented, and AI applied if they intend to keep up with the changes.
The brands capable of effectively using AI technology, and thinking digitally will be ahead of their competition. These brands will take the challenges and turn them into opportunities. Communication with the customers is the critical point, and the businesses who succeed will emerge as the winners. Read more at Wikipedia about Sentient.No Comments on A/B Testing And AI Are Leading Retailers Into The New Year