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How Will AI Be Delivered To The Consumer?

How Will AI Be Delivered To The Consumer?
July 9, 2024

Conversational Marketing Delivered Through AI

Conversational marketing is revolutionizing the way businesses interact with consumers. Powered by artificial intelligence, it offers personalized and engaging communication, transforming customer experiences and driving business growth. In this post, we’ll explore what conversational marketing is, its future applications, leading companies in the field, potential beneficiaries, and investment opportunities.

1. What is Conversational Marketing and How Will It Be Used in the Future?

Conversational Marketing Defined: Conversational marketing is a strategy that leverages real-time, one-to-one connections between marketers and customers. Unlike traditional marketing methods that broadcast messages to a wide audience, conversational marketing focuses on engaging customers through personalized interactions, typically via chatbots, messaging apps, and voice assistants.

Future Applications:

Enhanced Personalization: AI will enable even more tailored interactions, understanding customer preferences and behavior to provide highly relevant recommendations and support.
Omni-Channel Integration: Conversational marketing will seamlessly integrate across multiple platforms, including social media, websites, and mobile apps, ensuring consistent and personalized customer experiences.
Voice Commerce: As voice assistants become more advanced, consumers will increasingly use voice commands to make purchases, request information, and interact with brands.
Predictive Engagement: AI will predict customer needs and initiate conversations proactively, offering solutions before customers even ask.

2. What are the Leading Companies in the Field of Conversational Marketing?

Here are some leading companies in the field of conversational marketing, whether they are publicly traded or privately held, and where you can purchase their stocks:

SoundHound AI: Known for its voice AI technology, SoundHound AI is transforming voice interactions across various industries. It is a private company. SoundHound’sindependent voice AI platform connects people to brands through customized conversational experiences that voice-enable products, services, and apps while giving companies access to their valuable data and analytics for greater control and brand ownership of the customer experience.
Active Campaign: A marketing automation platform that uses AI to optimize customer engagement and personalize marketing efforts. Active Campaign is privately held. Live chat and chatbots can reach your customers at the exact moment they’re looking at your website. Whether you use it for sales or customer support, Active Campaign Conversations lets you engage directly with your customers.
Drift: A leader in conversational marketing, Drift’s AI-powered chatbots help businesses generate leads, engage customers, and streamline sales processes. Drift is privately held. Drift, an AI-powered buyer engagement platform that automatically listens, understands, and learns from buyers to create the most personalized experiences possible.
Gleen: Specializes in AI-driven customer support, enhancing the efficiency and effectiveness of conversational interactions. Gleen is privately held. Glean Chat. It’s what you’ve always imagined ChatGPT for work would be – a secure, generative AI assistant that automatically analyzes up-to-date enterprise information, and then synthesizes actionable insights and precise answers for any work-related questions you may have.
Birdeye: Focuses on improving customer experience through AI-driven messaging, reviews, and surveys. Birdeye is privately held. Business Messaging Software. AI-powered customer messaging platform for local business Reach customers across text, social, webchat, and email, and collaborate with teammates — all from a single inbox.
IBM (NYSE: IBM): Offers Watson Assistant, a powerful AI tool for building conversational interfaces across multiple channels. IBM is publicly traded on the New York Stock Exchange.
HubSpot (NYSE: HUBS): Integrates AI-driven chatbots and messaging into its comprehensive CRM platform, enabling personalized customer interactions. HubSpot is publicly traded on the New York Stock Exchange​

3. What Companies Will Prosper Through the Use of Conversational Marketing and AI and How Will They Implement It?

Several major companies are poised to benefit from the adoption of conversational marketing and AI:

Amazon (NASDAQ: AMZN): Already a leader in AI with Alexa, Amazon will continue to innovate in voice commerce and personalized customer experiences. Analysts give Amazon a strong buy rating with a target price around $208.98, expecting continued revenue growth and increased EPS​.
Meta (formerly Facebook) (NASDAQ: META): Utilizing AI to enhance customer interactions on its platforms, Meta will drive engagement and targeted advertising through conversational tools. Meta has a strong buy rating with an average target price of $498.75, projecting significant revenue and EPS growth​​.
Apple (NASDAQ: AAPL): With Siri and other AI technologies, Apple is well-positioned to offer seamless conversational experiences across its ecosystem, enhancing user engagement and loyalty. Analysts rate Apple as a buy with a target price of $217.41, forecasting steady revenue and EPS growth​​.
Best of Us Investors: By leveraging AI-driven chatbots and personalized messaging, investment companies can provide tailored advice and support to their clients, enhancing customer satisfaction and retention​​.

Implementation Strategies:

Automated Customer Support: Using AI chatbots to handle common inquiries, reduce response times, and provide 24/7 support.
Personalized Marketing Campaigns: Leveraging AI to analyze customer data and deliver personalized marketing messages and product recommendations.
Voice-Activated Commerce: Integrating voice assistants to facilitate easy and intuitive purchasing experiences.
Predictive Analytics: Using AI to anticipate customer needs and engage them proactively with relevant offers and information.

4. What Will Conversational Marketing Look Like in the Future?

Conversational marketing will continue to evolve, becoming more intuitive, personalized, and integrated into daily life:

Natural Language Processing (NLP) Advances: AI will better understand and respond to human language nuances, making interactions feel more natural and engaging.
Emotion Detection: AI will analyze tone, sentiment, and context to respond empathetically and appropriately to customer emotions.
Contextual Awareness: Conversations will be more context-aware, understanding past interactions and current context to provide relevant responses.
Seamless Integration: Conversational marketing will be embedded into a wide range of devices and platforms, providing consistent experiences across touchpoints.

5. How Should I Invest in Conversational Marketing Driven by AI Today?

Investing in conversational marketing driven by AI requires a strategic approach:

Identify Leading Companies: Consider investing in companies at the forefront of AI and conversational marketing technology, such as Amazon, Meta, and Apple.
Explore Emerging Startups: Look for innovative startups in the AI and conversational marketing space that have the potential for significant growth, such as  SoundHound AI, Active Campaign, Drift, Gleen and Birdseye.
Diversify Your Portfolio: Spread your investments across a mix of established companies and promising newcomers to mitigate risk.
Stay Informed: Keep up with industry trends, advancements in AI technology, and market movements to make informed investment decisions.
Consider AI ETFs: Exchange-traded funds (ETFs) focused on AI and technology can provide a diversified investment in the sector.

Conclusion

Conversational marketing, powered by AI, is set to transform how businesses interact with consumers. By embracing this technology, companies can offer personalized, engaging experiences that drive customer satisfaction and loyalty. As the field continues to evolve, investing in leading companies and innovative startups can provide significant opportunities for growth and success in the AI-driven future.

 

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