The use of artificial intelligence is growing quickly, especially in marketing. Industry leaders, bloggers, and many others are discussing the dramatic changes AI could bring. In fact, cmo.com found that 15% of enterprise companies are already using AI, with an additional 31% planning to start in the next year.
That is huge. With enterprise companies investing heavily in AI, we can expect it will continue to advance and further improve marketing performance.
Although AI technology will change marketing significantly—and soon—it's not time to rush in yet. Here are four considerations before diving into the AI pool.
1. Ensure your data is ready
Are you capturing the right data?
Without the right data, you won't get the results you need from AI.
For example, say you launched a new e-commerce store that's generating revenue and bringing in new customers. But your analytics platform shows that those customers aren't returning. So you invest in software that specializes in providing recommended products through email to drive repeat business.
For that solution to work, it needs more than the user's email address. It needs data from past purchases, including product category, item, price, and your inventory. In fact, the software may even use actions from people with similar purchasing behavior or demographics to help narrow down which products to recommend.