AI Chatbots Revolutionize Marketing Strategies with 88% of Businesses Already Onboard
In the quest for failure-proof technology that enhances efficiency and reduces manual labor, businesses have turned their attention to artificial intelligence (AI) as the silver bullet. Recent research conducted by Twilio, a customer engagement company, reveals that AI-based automation has emerged as the primary driver for revenue growth and operational efficiency among businesses. One prevalent application of AI is through the use of generative AI chatbots, which have gained traction in marketing strategies.
According to Twilio Segment’s 2023 Growth Report, which surveyed 2,450 business leaders, a staggering 88% of businesses are already leveraging some form of AI in their marketing efforts this year. Moreover, over half of these businesses (54%) anticipate increasing their investments in AI-powered campaigns in the upcoming year. The study also demonstrates that business leaders are optimistic about the returns on their AI investments, with nine out of ten respondents (90%) reporting that AI will deliver time or cost savings for their organizations. It is notable that 38% of businesses surveyed plan to incorporate AI chatbots into their marketing endeavors.
The findings of the research shed light on the critical role of a reliable customer data platform (CDP) for businesses seeking to leverage AI-based automation effectively. Notably, 40% of businesses are grappling with technology infrastructure or low-quality data, underscoring the significance of relevant and timely data in maximizing the potential of AI. In fact, 71% of the survey respondents believe that AI would be more valuable if supported by higher-quality data.
The study also indicates that CDPs play a pivotal role in ensuring data quality, as businesses leveraging a CDP experienced a 32% growth rate over the past year, outperforming companies that did not utilize a CDP (21% growth rate). CDPs unify customer data collected across an organization, providing brands with a consolidated and accurate source of customer insights.
Katrina Wong, VP of Marketing at Twilio Segment, remarked on the widespread adoption of AI: AI has taken the world by storm in 2023, and the data is clear that businesses have embraced the technology wholeheartedly as a means to attract, engage, and retain customers. The challenge now lies in reaping the benefits of these AI initiatives. Wong emphasizes the importance of prioritizing data quality alongside AI efforts, as neglecting this crucial aspect may result in missed opportunities for businesses to capitalize on.
As the demand for AI-powered automation becomes increasingly pervasive, businesses must recognize the integral relationship between AI and quality data. By leveraging AI chatbots and ensuring reliable data sources through CDPs, companies can optimize their marketing strategies for enhanced customer engagement and satisfaction. With AI revolutionizing the industry, businesses must seize the opportunity to stay ahead of the curve and capitalize on the benefits it brings.
