Debates about artificial intelligence (AI) cover a lot of theoretical ground, from whether smart robots will eliminate jobs (and/or the human race) to how we'll all fit neatly into a computer simulation after the singularity. There's a lot of philosophical meat on those bones to gnaw through. But before we let our imaginations run too wild, let's take a practical look at how AI is already transforming the way salespeople are connecting with prospects and closing deals. By detecting patterns in your emails using natural language processing, AI-enabled CRM tools can begin to anticipate your own responses and write emails for you. These systems can learn to pay attention to names of contacts, relevant dates, addresses, and key phrases ("Ugh, another meeting?") and begin to fire off responses for, at first, simple things like availability, and eventually more complicated bits of business like finding answers to specific questions or selecting appropriate attachments to send.
With around 3.7 billion active email users across the globe, leveraging emails the right way can definitely help businesses reach new heights of success. In fact, email advertising spending has already reached a whopping 350 million U.S dollars in 2019. So, it wouldn't be wrong to say that email marketing is one of the main marketing channels. However, with the emergence of some new marketing channels like chatbots, the speculation around the downfall of email marketing has become quite high. Well, with an expected growth rate of 136%, it might look as if chatbots will take over emails but that's certainly not the case.
Why they won't become what you are thinking -- not now In the latter period I'm reading more and more about chatbots and how they will be the center of new businesses. Today I want to explain you why, in my opinion, this is only a pile of nonsense analyzing the two main chatbots' purposes explained in these months: 1. replace human-customer service, 2. empower actual "complex" softwares. Think about the last time you called a call center for an important issue: I'm sure you wanted to speak with a human because it was essential that the other speaker had completally understood all of your's needs. You don't want that someone understand 8 words out of 10 and gives you an answer based on that 8 words while maybe that two words were somehow crucial (bots works like this: they try to get the right meaning of the message recognizing previous inserted -- or learned -- patterns. They don't actually understand language).
Narrow artificial intelligence (AI) is fundamentally changing the approaches, methods, and results of customer management, triggering a renaissance in companies' relationships with their clients in almost every sector and revealing previously unimaginable opportunities. Narrow AIs are versed in doing one task well; this is the only AI that has been created by humans so far. The first sector it is being put to use in is customer relationship management (CRM) -- the aspect of a company that aims to optimize a business's relationship with their customers in order to maximize retention rates. AI can analyze data at a rate humans cannot match, giving an understanding that was only possible with huge amounts of manpower before. A prime example is Salesforce Einstein, which studies the data from sales, e-commerce activity, emails, Internet of Things-generated data and social media to make company specific recommendations.
Email is among the highest performing marketing channels. It regularly outpaces other mediums, with research showing that email drives customer acquisitions at a rate 40 times higher than Facebook and Twitter -- combined. Email also ranks near the tip-top for ROI in marketing. Coming from a background in email marketing, I've worked hand-in-hand with global brands that appreciate and understand its effectiveness.