Due to constant changes, new innovations and developments, the digital world often seems quite confusing, doesn’t it? Indeed, the so-called digital transformation is inexorably changing one industry after another, much more powerful and disruptive than anything that has happened before.
Nowadays, people can hardly imagine a life without the Internet and have gotten used to a multitude of great services. As a result, expectations continuously rise, spotlighting the quality of the digital services which are ultimately the crucial deciding factor whether people stay with a brand or not. Online it is easy to get in touch with everyone conveniently, anytime, and anywhere. Digital services clearly play a decisive role in shaping brand identity, whereby the emotional experience nowadays is created through the digital operating and user experience, while commercials and brand stories create the context.
And that is exactly the challenge for brands today: developing intelligent products and services while at the same time continuously expanding and perfecting all contact points with customers. Offering a convincing ad hoc user experience is a must and the new standard. In the best case, a “lock-in effect” can be achieved, meaning there is no longer any reason for the user to choose another provider. In other words, the physical product is no longer the only decisive factor in sales, it is now the product's use value that has been enhanced by digital services. They generate the highest added value, and the experience transforms the behavior of the user in the interest of the brand. That is why the transformation in marketing must first take place at these user interfaces—and only then in the company.
In marketing, for example, there are already many approaches for using AI. Scenarios with both existing and new data are relevant so that the AI can be trained to generate added value for the user. With machine learning capabilities, the customer experience can be made much more personal. Dynamic content is tailor-made using targeting so that a significantly higher conversion and thus more sales can be achieved.
Building up on this kind of marketing automation is essential in managing the upcoming task in digital marketing. However, a lot of data is needed and then used in connection with AI in such a way that intelligent and tailor-made offers for personal customer experiences can be created.
Conversational interfaces, so-called simple text-based chatbots, have for instance long been used in customer support. These are often still based on manually configured rule sets and appear relatively unintelligent during the interaction, but the company can at least be reached non-stop. Since chatbots are AI-powered, they can often arrive at the right solution faster than any human. With the ability to learn, the interaction also gets better with every conversation. Combined with predictive analytics, the chatbot can then anticipate customer requirements and proactively make the right suggestions.
Now, with the use of blockchain in marketing, administration can also be significantly simplified, which results in lower costs and better service. In connection with a conversational chatbot, the blockchain becomes a convincing duo in marketing.
Blockchain technology can even help to prevent advertising fraud and improve the effectiveness and measurability of online advertising. Advertising traffic that’s artificially generated by bots will then be a thing of the past. There is greater transparency, since all those involved along the value chain can reliably see whether and by whom the advertisement was seen and what actions triggered.
The fact is, when a brand is not performing digitally, customers look for better offers. So, to constantly meet the increasing expectations and to remain competitive as a company, AI and blockchain will play an essential role in the future. The interface to people is becoming more and more invisible and increasingly a part of our life.
By Daniela La Marca