Marketing analytics with AI: Complete guide [2018 update]

Martech tools increased from 150 to 5000 in last 6 years

There were 150 marketing tools in the market in 2011, now that number is >5,000. Customers were a single data point in 2000s while now we have rich time series data on every user. Artificial intelligence powered tools are required to harmonize data and complete automated predictive analytics.

Why is AI relevant for marketing analytics now?

You need too many tools!

Marketers have access to more tools and channels than ever. It would take a genius to be up to date on all the tools and technologies that is becoming available.

The proliferation of tools creates the complex task of unifying their output for analytics. Normally this involves taking CSV backups, writing scripts and other data janitor work. Read more

Comprehensive voice recognition guide for your business

Artificially intelligent machines are becoming smarter in every day. Deep learning and machine learning techniques enable machines to perform many tasks at the human level. In some cases, they even surpass human abilities. Machine intelligence can analyze big data faster and more accurately than a human possibly can. Even though they cannot think yet, they see, sometimes better than humans (read our computer vision and machine vision articles), they can speak, and they are also good listeners. Known as “automatic speech recognition” (ASR), “computer speech recognition”, or just “speech to text” (STT) enables computers to understand spoken human language. Read more

Content Automation: A Comprehensive Guide [2018 update]

Content is insights! Expressed in myriad forms and styles, it is information that makes readers feel, think and change their lives. We’ll dive into the world of automatic content creation but before that let’s cover a bit of the terminology.

If you google for content, you mainly encounter with the phrase content marketing.

What is content marketing?

Content marketing is one of the most effective strategies for inbound and digital marketing. Content raises awareness of your brand, builds trust with your audience and turns them into customers who may become evangelists. Content marketing is mostly related to social media platform such as Twitter, Facebook, Pinterest since they are great publishing platform to reach out millions of people. Read more

Dynamic pricing: In-depth Guide to Improved Margins [2018]

Dynamic pricing allows large and small companies improve their margins quickly. Any corporate leader needs to know about dynamic pricing and we answer all dynamic pricing questions here:

Basics of pricing:

Dynamic Pricing:

Implementing dynamic pricing at your company:

What are traditional approaches to pricing?

Sellers used to set the price for a product or service based on a manual analysis of the cost, demand, supply or competition. Without sophisticated algorithms, two pricing strategies were common:

  • Premium Pricing: Premium pricing is where companies set the price higher than average competitive price. The key factor for the success of this strategy is differentiation. Premium pricing effectively works when the product has a unique feature that differentiates it from similar products in the market and has a competitive advantage.
  • Penetration Pricing: Penetration pricing is basically setting the price relatively lower than the market competition. Companies use this pricing strategy to raise brand awareness and increase customer loyalty. Initially, penetration pricing may cause revenue loss but the main goal of this strategy is market penetration.

Profit maximization is not always possible with both strategies. At premium price level, demand would be low. Even if you have a high demand for penetration pricing, the price will remain low.  What if you can cover all the price segments and respond faster to demand fluctuations in the market? This is possible with price discrimination. Read more

How to boost conversion rate with website personalization

Website personalization is continuously becoming important in the success of almost any marketing campaign these days. This basically allows marketers to provide a unique experience to customers for them to feel more connected, more valued and more understood.  Consumers reward such experiences with more engagement, increase in conversions, continued loyalty and increase in spending.

Short definition

Website personalization is the process of creating a customized experience to visitors on your website. Rather than a broad and single experience, website personalization helps visitors get unique experiences tailored to their desires and needs.  Website personalization requires data. Read more