Maximizing the gains from your marketing is the goal of any business. Actually, it would be better to say that maximizing gains and minimizing investment is the penultimate goal of most people.
In business terms, we call this “Return on investment” or ROI. ROI refers to the amount of money you get back from your investment. In this article, we will teach you how to maximize your marketing gains with the help of artificial intelligence. By the end of it, you will be better positioned to improve your marketing gains.
What Is ROI?
First of all, let us discuss ROI in detail. ROI is used to measure how much profit was made on an investment. It has a simple formula where you divide the returns by the investment. As long as the number is positive i.e., more than one, it means you made a profit.
The larger this figure is the more profit you have made. This is known as positive ROI. However, it is also possible you lose money on an investment. So, the result of the calculation would result in decimal figures.
ROI= Net Investment gain/Cost of Investment ×100
If you have a negative ROI or don’t make enough profit, then it means that the investment was bad, and you should stop investing more. On the other hand, a highly positive ROI means that the investment was good, and you should invest more to get better gains.
Now, we will study how you can maximize your marketing ROI.
Maximizing Marketing ROI With AI: Tips And Techniques
To improve your profits from marketing you need to make sure that your marketing efforts are successful. The more successful they are the better your ROI will be. So, here is what you can do with the help of AI.
Utilize AI for Quick and Effective Market Research
Market research refers to gathering data about the current state of your audience and your competitors. You want to check for things like:
- Are your audience looking for your services/products?
- What kinds of services/products are your competitors providing?
- Are the audience satisfied with the level of service/product they are receiving?
Aside from these things, you also need to check out the demographics and general interests of your audience. Which kind of marketing methods are they most receptive to (i.e., content marketing, advertisements, email marketing, etc.)
All of this research is typically done manually. However, the manual approach has several disadvantages.
- It is too time-consuming
- It has poor accuracy
- It cannot deal with rapid changes in the market
To address all these issues, you want to use AI research tools instead. How does AI help? Well, you see all of the research questions that we need to ask can be answered using data gathered from online sources such as social media.
AI research tools can do bulk sentiment analysis. You can configure them to only check for data that originates in a specific geographic region to gather info about the audience in that area.
AI market research tools can also create reliable surveys that can get you valuable data. These surveys need to be posted manually though. The art of survey creation is quite complex. Its automation is a huge boon as it saves time and effort.
Utilize AI for Content Creation (the same thing. save money, reduce investment)
After market research, you can also do other stuff with the help of AI. You see most methods of digital marketing rely on content in some shape or form. Even the simplest advertisements require expertly written copy to maximize their effect.
Other types of content include newsletters, blog posts, articles, and even video essays. With AI you can create your marketing content quickly. Tools like ChatGPT which can use generative AI can create expertly written content in a matter of moments.
You can provide a prompt that explains what you need, and the AI content generator creates a copy that fulfills all or most of your requirements. The best thing about all of this is that you can save not only time and effort but also money (and investment).
You see the best AI content-generating tool is ChatGPT and it is completely free. Even its premium version is only $20 per month. If you hire a content writer for this task, you will have to pay them a lot more.
So, by using AI for content creation, you are minimizing the investment and conversely maximizing the gains. If you remember equation 1, then you will notice that the smaller the investment the bigger the ROI because they have an inverse relationship.
Utilize AI for Content Optimization
AI content generation is good, but it does have its problems. If you are using AI content for content marketing, then you should know that search engines and some publishers do not look too kindly upon it.
They think that AI content is too soulless, and it does not portray human emotion. They are right, of course. AI does not hold opinions or bias; it says everything like it is. Humans have their opinions, and they are often reflected in their writing. This gives their write-up some personality, and that can resonate with the audience.
What you can do is create content with AI and then edit it for the best performance. You can do this manually, but even here, AI can help you. You can use an AI sentence rephraser to optimize your AI-generated content.
- A sentence rephraser can improve the tone and delivery of the content.
- It can humanize the content by making it appear less technical. It does so by replacing technical and difficult words with synonyms that also convey the same meaning.
- An AI sentence rephraser can simplify sentence structure and complex phrases to make the overall content more readable.
As for the final human touch, you can add it yourself. You can write a few sentences that portray your opinions and then have an AI sentence rephraser improve it. Add it to the content, and you are done.
Utilize AI for Content Propagation
The creation of marketing content is not the only thing that can be improved with AI. Its distribution and propagation can also be improved with the help of artificial intelligence. There are quite a few software suites and online platforms out there that provide automation of content distribution.
Mailchimp is one such platform. It is a tool that can help you manage your email subscriber list and send them emails automatically. You can create schedules for pushing out emails and ensure that they are received by the customer at a good time i.e., when they are more willing to engage with it.
This kind of automation is great because it can help you reach customers and clients who live in vastly different time zones without having to stay awake.
You can use other kinds of tools to schedule your media posts and content as well. For example, if you have set up a bunch of articles to go live, you can schedule them in advance. This can help you run content marketing campaigns without missing deadlines.
This improves ROI by ensuring that your audience is getting the content on time (the rest depends on the CTAs and the content). It also makes you appear consistent and improves your likability among the audience.
Utilize AI for Running Analytics and Improving your Approach
An analysis is mandatory for improving your ROI. The analysis of your marketing strategies provides information such as:
- The effectiveness of the strategy
- The number of leads gained
- The number of leads that should be gained to get a profit
If the effectiveness is poor or fewer leads have been made than expected, it makes sense to conclude that the ROI is bad as well. With further analysis, you can learn what were the shortcomings of the strategy and at which point the customers fell off.
Then you can address those shortcomings and ensure that your strategy pays off. AI helps with the analysis of your strategy. AI tools can parse and process a huge amount of data and draw conclusions based on them. So, you can quickly analyze your marketing techniques and strategies for issues and shortcomings.
That’s how you can maximize the ROI of marketing with the help of artificial intelligence. You need to use a lot of AI tools for a variety of different tasks, but they are cheaper and faster than hiring a company or a firm to do it.