The Next Big Thing in InboundVanda Williams
Inbound Marketing is a method of wooing customers through the creation of content that is both useful and relevant. As we continue to shape our interactions by sharing, creating, and following content, the need to build a sustainable future for your company using inbound marketing is slowly, but surely, becoming a necessity.
When your organisation takes the time to solicit the goodwill of your customers, you are taking the time to build a fruitful and accountable business. The more that businesses adopt inbound practices, the more of an impact it will have on future applications of marketing. For instance, as we learn more about buyer behaviours like how customers like to shop, and where, it will further advance the technology required to cater to their needs.
Here are a few examples of specific behaviours that are already changing the inbound landscape:
- More and more people are buying from eCommerce websites and companies
- Buyers are taking the purchasing process into their own hands rather than hiring product experts
- Buyers can source information from anywhere on any product
- Buyers are increasingly influenced by technology in making their purchases
- People are turning into self-dependent shoppers by making products, services and information available online
Already, we can see that our buyer behaviours have direct implications on the future of inbound marketing. That future being: more tech, more automation, and most of all, more AI.
Artificial Intelligence IS the next big thing in Inbound
In 2020, the global artificial intelligence software market is expected to grow approximately 154% year-over-year (Statista, 2020). This means that while AI in inbound marketing is just in its infancy, it is only going to grow and keep growing exponentially.
AI enables businesses to compute large amounts of data which provides marketers with better insights into the behaviour of customers. Machine Learning, a component of AI, can learn from this consumer-generated data and create a personalised inbound experience for consumers, at any stage of their buyer’s journey. AI entrusts companies with a lot of power because by leveraging their customer data to create a better experience they can generate more customers and continue the growth cycle.
AI and Predictive Analytics
Digital transformation has produced a critical shift in how information is being produced, processed and stored. Hence, understanding big data is a crucial driver for enterprises to enhance their sustainability in a highly competitive environment. Predictive analytics is the process of using data mining, statistics, and modelling to make predictions. Predictive analytics, when paired with AI, allows businesses to identify their potential customers or probable responses by using personalised data accumulated over time. Without the help of AI algorithms, all you will see are rows after rows of complex data mentioning product codes or names that are highly complex to understand and gain insight from.
With AI, you can create data patterns by using algorithms that will segregate and form data sets based on multiple factors; ranging from the number of people who bought a certain product, a particular item that sold more in a specific season, a customer’s date of purchase, feedback, ratings, cost, and shipping preferences. Harnessing this information will significantly inform the future of inbound marketing by making the entire buying process a highly personalised, streamlined and friendly experience.
In addition, predictive analytics has catapulted the AI market in its ability to go beyond the understanding of historical data. It is capable of producing useful insights that not only consider past data but build upon that data to provide possible future solutions. The more data brands collect, the more data they can analyse and process quickly, meaning marketers are more likely to get actionable insights in a faster and efficient way.
The future of inbound marketing is all about freeing up brands to innovate, create and communicate their product in a more effective and fruitful way. With AI and AI subset technologies, businesses can focus on the integrity of their product/service; constantly using data to inform their offering and how to better support customers to ensure a delightful experience.