The world benefits from artificial intelligence now more than we ever have before. Just a few weeks ago, our lives were drastically different than they are now. The world has temporarily changed due to the current pandemic, and AI is helping us pick up the pieces. The hope is that as soon as possible, life will get back to normal and that applies to businesses too.
Artificial intelligence is used to process large amounts of information quickly and efficiently. Using AI in business means that you’re constantly learning more and more about the most important aspects of running your business. AI is a business owner’s best friend. According to Forbes.com, “As AI becomes more proficient at analyzing and interpreting mountains of data, and doing so faster than ever before, businesses have the chance to build better, more personalized and profitable campaigns.” People can’t be replaced because we still need human touch and common sense, which programming just can’t do. However, AI is a necessary tool in the process of tracking and analyzing data that will help businesses to grow.
That brings us to the question: How is AI making life easier for businesses during the COVID-19 pandemic?
Customer Relationships are Easier to Manage
Managing customer relationships at a time when relationships are hard to build is necessary. Customers want to hear from your business, they want to know what steps you’re taking to keep them safe during these times and they want to know that you’re still there to help. Consumers will always be researching businesses to determine who they want to work with, and managing your customer data through AI puts your business on top through:
- Stronger Customer Connections
- Customer Data Storage
- Customer Contact Information Access
- Knowledge of Customer Buying Trends
Purchasing Trends are Trackable
Knowing what your customers are buying from your business allows you to provide valuable engagements in order to bring them back through your door. Purchasing trends are important to keep track of because that’s the only way for business owners to make knowledgeable decisions about the products and services their business offers.
Transactions are Recorded and Analyzed
Analyzing transactions through AI allows your business advanced information in regards to your revenue, customer buying trends and cost per transaction. AI automatically tracks all of this data for businesses and analyzes it so you don’t have to. This is important in a time like now, when you have to focus more on adjusting your business to stay afloat through social distancing instead of analyzing data.
When businesses utilize the modern technology that is available, they stand to benefit far more than many people realize. Now that we’re in the middle of a pandemic, and everyone is unsure how much longer businesses will be slow (or closed), AI is more important than ever. Tracking and analyzing data now will help your business to come back stronger than before once the quarantine period is over.
For more insights on marketing strategy that actually works for small business, connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. If any of these tips have helped you or if you have anything to add, please comment below. We’d love to hear from you!