🔎 Following Customer Habits

Today's Highlights

• How AI is changing the Marketing/Advertising Space
• This Week On BuzzBelow - a recap on this week's topics.
• In Other News - a few interesting developments we're tracking

AI has altered the way multinational corporations do their marketing and advertising. Traditional approaches to identifying and addressing consumers are quickly evolving.  Enhancing the customer journey map is one of the most important uses of AI in this field.

A representation of the numerous phases consumers experience in their interactions with a business is called a customer journey map. The customer experience is seen holistically, starting with the first encounter and continuing through the process of engagement and into a long-term relationship. Let’s delve into how AI is revolutionizing this space:

• Personalization at Scale: Due to a huge quantity of data, it was previously difficult for marketers to offer a highly tailored experience. Huge volumes of client data, including purchase histories and online activities, may be analyzed by AI to provide specialized content or product suggestions.
• Predictive Analysis: Based on past data, AI systems may predict future customer behavior. Marketers are able to be proactive rather than reactive because of this insight. A business can better target its marketing initiatives if it can predict the customer's future steps. For example, AI customer journey mapping predicted that 86% of buyers are willing to pay more for a great customer experience.
• Chatbots and Virtual Assistants: Chatbots powered by AI offer improved customer service. They may assist consumers at different points in their journey, provide real-time responses to questions, and even upsell or cross-sell goods.

• Improved Customer Satisfaction: Businesses may better serve their customers' wants and needs by knowing the subtleties of the customer journey. Increased enjoyment and loyalty are always the results of this degree of attentiveness. There have even been reports of up to 24% more positive social media mentions for companies as a result of customer journey mapping.
• Increased ROI: A better customer experience results in more successful marketing strategies, which boost revenue by improving conversion rates.

This business has seen a massive boom the last couple of years. By 2026, it is estimated to be worth around $26.88 billion with a CAGR of 20.5% from 2019. The integration of AI and customer journey mapping will surely advance as technology develops, providing unmatched insights and benefits for those that adopt it.

This Week on BuzzBelow

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