How Marketers Can Leverage AI & Machine Learning to Boost Brand Loyalty?
- Posted on October 6, 2022 by Robert
- Reading time about 5 minutes
Living in the new era of digital innovation, technologies are transforming the way businesses work with enhanced customer experiences. AI and machine learning are becoming the latest trends that help brands encourage customer loyalty. Every business is on a mission to achieve a higher level of customer satisfaction, which is helpful to attain loyalty.
Marketers are increasingly making use of AI to analyze historical customer data & gain actionable insights from it. In this blog, we will discover everything we need to know about how AI can help in improving Brand Loyalty Programs with better prediction of customer behavior.
Why Businesses Must Focus On AI-Based Audience Retargeting?
With stiff competition in the market, marketers are struggling to find the right tools that can make a huge impact to increase their bottom line. Many businesses believe in putting tremendous efforts to increase new customers rather than focusing on retaining the old ones, which can make a huge difference.
Audience Retargetting is considered an effective approach for those business owners that are thinking to make a difference in their eCommerce efforts. The main problem faced by online businesses is the issue of a drop in sales due to a higher number of online shoppers that abandon their carts before checkout.
With advances in technology and data collection, it is becoming essential for brands to make use of AI-powered audience targeting that can help eCommerce marketers to convert visits to purchases & increase the customer lifetime value.
Using AI and ML to Find the Right Audience
Successful brands are the ones that make use of the right customer loyalty software solutions with AI-based audience retargeting, which help them win customers back and eventually boost loyalty with an increase in sales.
Here are some of the methods based on AI-audience retargeting that are used by big brands to attain their business goals effectively-
· Demographic Targeting
With demographic targeting campaigns, brands can reach a specific set of potential customers that are likely to be in a particular range, for instance, age range, gender, education, income, etc. Identify the most important aspects that work best for your business to target and find more relevant customers with similar aspects.
· Interest Targeting
Talking about interest targeting, this helps to ensure that you are focusing on the right audience that is interested in what you are offering- your services or products. Targeting by interest is a powerful way to attract customers by identifying what interests they have—whether it’s fashion, jewelry, sportswear, or food.
This helps you target customers who share the same interests by enabling your brand to get listed in front of people who would love your products.
· Contextual targeting
This is the common practice followed by many businesses where they place ads on web pages based on the content of those pages. For instance, if you run a sportswear business, you can use contextual targeting to advertise your products on existing sportswear websites.
Showing your ads on related websites ensures that your ads are getting displayed in spaces that resonate with your audience & boost your brand presence alongside content with which you want to be associated with.
· Lookalike Targeting
As the name suggests, a “lookalike audience” can be defined as a group of people that share the same characteristics with another set of people. With the help of AI, you can identify people who look and act like those who are already engaged with your brand.
Using lookalike targeting, one can reach out to groups of people who share qualities or behaviors with your existing customer base.
Retargeting is another approach that enables brands to connect with people who have already engaged with your brand but need a little push in the right direction to make them make a purchase.
For instance, if the customer adds an item to the shopping cart, you can encourage them to purchase with automated retargeting campaigns that help to close sales gaps and make a big difference for your business.
Benefits Of Using AI For Better Customer Loyalty
AI, Artificial Intelligence enables machines to act smart & respond to situations similar to what a human agent would do. Catering needs for many users at a time is impossible. However, AI can outperform humans in specific tasks through machine learning-based algorithms.
Here are some of the ways that show how AI impacts customer loyalty-
– Use Unique & AI-powered content for better personalization
– Resolve queries on time for engagement & communication
– Effortless User Experience for higher customer satisfaction
– Handling large volumes of people at a time
– Focus on valuable customers & identify customers that are likely to leave
– Monitor fraudulent behavior on time
As we are aware that AI can make a big difference to your business and bring a huge impact in boosting your customer loyalty, it’s time to implement AI-enabled loyalty campaigns to help you target your potential customers in a better way. If you are a business owner struggling to build and maintain a positive relationship with your customers, you can make use of Novus to attain commendable results in terms of efficiency with higher sales.
Novus, being a reliable Loyalty Program Platform enables small businesses and enterprise brands to target the right audience with data-driven personalized experiences through AI-based loyalty solutions. Take a demo of Novus from our experts and integrate AI into your loyalty solution for enhanced customer loyalty.