Application of Artificial Intelligence in Precision Marketing

Application of Artificial Intelligence in Precision Marketing

Xue Yang (North China University of Water Resources and Electric Power, China), Haowen Li (School of Management and Economics, North China University of Water Resources and Electric Power, China), Likun Ni (School of Management and Economics, North China University of Water Resources and Electric Power, China) and Teng Li (School of Management engineering, Zhengzhou University, China)
Copyright: © 2021 |Pages: 11
DOI: 10.4018/JOEUC.20210701.oa10
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Abstract

The development of artificial intelligence technology has greatly helped social productivity and economic growth. At the same time, we have changed modern marketing methods, provided technical assistance for precision marketing, improved modern marketing efficiency, and effectively reduced marketing costs. Compared to traditional marketing, artificial intelligence technology is applied to accurate marketing activities. It will make the marketing effect more accurate and personalized. Faced with these technological advances, it is important to study the application of artificial intelligence technology for the precise new marketing model. The advancement of artificial intelligence technology not only changed the way of marketing activities, but also enabled marketers to attract consumers more effectively. The enormous amount of data provides new opportunities and challenges for marketers. AI technology can accurately identify customer needs in a huge database to locate potential customers, meet customer needs, and establish a good relationship between marketers and consumers.
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Introduction

Describe the general perspective of the article. End by specifically stating the objectives of the article. Artificial intelligence is a new technological science that researches and develops theories, methods, technologies, and application systems for simulating, extending, and expanding human intelligence. The research results have covered various areas and made the work more efficient (Canevelli,2019; Chen, 2019; Chang,2019; Kim, 2019).

Information technology is developing rapidly. The use of science and technology can analyze consumer user groups and consumer markets from the databases generated by consumers' online browsing traces and shopping records in major networks, find demand points and the best marketing time, and use artificial intelligence to understand customers (Macera, 2019; Mayor,2019). To understand the different needs of customers, when marketing and demand match, you can achieve marketing purposes and turn potential customers into actual customers. This will be a great way for artificial intelligence to help achieve successful marketing.

Precise marketing is mainly based on grasping consumer information data, such as user's personal information, searching, browsing records, etc. to mine customer preferences, conduct consumer positioning, and use modern computer technology to push more accurate and personalized relevant advertising content to customers. To establish a service system for customer communication (O'Connor, 2019).

The value embodied by precision is particularly obvious in contemporary marketing. Customers expect to minimize costs when buying. Precision marketing can not only reduce the purchase cost of customers but also increase the total value of customers. In modern e-commerce, the company is customer-centric. Customized solutions for customers can shorten the distance with customers, better communicate with customers back and forth, and form customer loyalty in a business environment. Enterprises not only need to make customers purchase products, but also need to ensure the purchase rate and return rate of recommendation rate. (Yezekyan, 2018; Yuning,2020) The formation of a good brand image requires greater efforts under precise marketing, which will make the company last long. Precision marketing can achieve a win-win situation for businesses and consumers. Precision distribution mainly includes four parts: Right-consumer, Right-channel, Right-message, Right-time.

Figure 1.

Framework of precision consumption

JOEUC.20210701.oa10.f01

For consumers, service and experience are the topics they pay attention to. Whether it is online shopping or offline shopping, consumers are more eager to satisfy when they are engaged in consumer activities. Precision marketing under artificial intelligence technology can guide consumers' personal information and preferences technically, helping customers save shopping time, save costs, and bring about a better service experience. Through artificial intelligence information processing, each record will classify and distinguish consumers, and accurately and detailedly record and track consumer consumption records, including consumption time, consumption motivation, communication process, and after-sales feedback, forming a one-to-one Service data even knows more about consumers than consumers, in order to meet consumers' increasing expectations for brand interaction.

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