Technology has made it easier for bright ideas to come into fruition, what with the available online tools and software that you can download and use even in the comfort of home. Selling that idea, however, is not as easy, and this is where some startups fall short. There are many considerations after transforming a great idea into something tangible for your target market. Not least of which is how a business can deliver the right product or service to the right market at the right time. This is where a go-to-market strategy comes into play.
Despite the many unanswered questions that remain about the use of artificial intelligence (AI) in the workplace and in customer-facing and servicing departments, the growth of AI appears unstoppable. Even as early as two years ago, research from the UK-based digital marketing agency Big Rock found after interviewing 100 senior marketers globally, that AI applications, even at that stage had become one of the marketing departments mainstays. The interviews showed -- again at that stage -- that 55% of companies were either currently implementing or actively investigating some form of AI initiative within their marketing practices. Meaning, AI was already shaking things up in the industry. Unsurprisingly, the research read, this inevitable rise of AI technologies in marketing is causing a major shift in the way companies work.
Given the rising need for smart automation of existing processes, AI has entered the traditional hospitality landscape with a promise to enhance hotel reputation, drive revenue and take customer experience to the next level. Like many industrial systems, the world of hotels revolves around a handful of solutions all driven by intelligent chatbots and voice-enabled services. To meet changing consumer expectations, hotels across the globe must upgrade their operational system and services by integrating intelligence-based predictive analytics in hospitality. In this article, we will see how the adoption of AI further impacts the overall dynamics of hospitality industry. Chatbots in hospitality are changing the way booking inquiries are handled and visitors are converted into patron customers.
New Roles "Brands that are leveraging data science today are largely forced to do the heavy lifting themselves. That will change in 2018 - we'll have tools that won't just manage analysis; they'll also prescriptively recommend and execute the best course of action based on a marketer's desired outcome. Not only will the technology actually deliver on those promises, it will also be broadly accessible to all growth-oriented ecommerce brands. Roles that are nearly entirely dedicated to operating software, for example, will start to be phased out - both in house and across the broader services industry. Marketers will be forced into - or more accurately, will finally be able to experience - roles that are increasingly strategic, creative, and above everything else: customer experience oriented."
The Covid-19 pandemic has clearly placed an extraordinary amount of pressure on businesses in practically every sector. Companies have had to pivot and adjust to a new way of working, with a rapid switch to remote teams and virtual workforces - many in a matter of days. The reality is, as we emerge from the current situation, it is inevitable that there will be a lasting impact from the changes that have had to be made. The landscape for business has been altered for good. We have already seen many businesses forced to cease all discretionary spending, pause recruitment plans indefinitely, cut marketing spend while still demonstrating a strong return on investment, and yet still make decisions on how best to drive and generate pipeline.