Whiplash Team / Francesca Cordido, 14th April 2023
Brands, AI, and consumers
Artificial Intelligence (AI) and new consumer trends are transforming the world of brands at an unprecedented pace. Brands must adapt to take advantage of the benefits provided by AI and remain relevant in an ever-changing market.
Progress in technology has allowed consumers to gain access to information and products more quickly and efficiently, leading to higher expectations and demands.
In turn, brands must be more agile and evolve constantly to meet consumer needs and remain significant in an ever-changing world.
The personalisation challenge
One of the biggest challenges that this evolution in consumer trends entails for brands is the ability to adapt to personalisation. Consumers expect a custom-made and unique experience on all channels and platforms they use. This means brands must be able to understand and anticipate individual customer needs.
AI can help brands collect data. Also, to analyse behavioural patterns to offer a more customised and relevant experiences to consumers. However, for this strategy to be effective, brands must be transparent in their use of data. And need to ensure that consumers understand how their data is being used.
Sustainability commitment
Another important issue is the growing importance of sustainability. Consumers are increasingly concerned about the environmental and social impact of the brands they consume. Thus, brands must be more aware of their environmental and social footprint.
AI can help brands measure and monitor their influence. Businesses on their hand must be proactive, creating sustainability strategies to minimize their environmental and social impact.
Rethinking marketing and advertising
In addition, new consumer trends are leading brands to rethink their traditional approach to advertising and marketing. Consumers are increasingly interested in authenticity and transparency. Brands must be authentic and honest in their communication and advertising.
Social media and other digital platforms are allowing consumers to interact directly with brands. So, brands must be prepared to respond and manage these interactions effectively.
AI, from data to emotions
In this context, AI can be a valuable tool. It can help brands understand their audience better, personalize their content and messages, or automate their processes. But AI is also helpful when it comes to analysing emotions as well as consumers’ voice and texts to identify behaviour patterns, trends, and perceptions.
Thus, brands can take advantage of AI capabilities, among other things, for:
Data analysis:
AI can analyse large amounts of data to identify patterns and trends. This can help brands comprehend their audience better and adapt their marketing and advertising strategies to reach out to them more effectively.
Personalisation:
AI can analyse consumer behaviour and preferences data to recommend specific content and offers that are more relevant to the consumer.
Automation:
AI can automate marketing and advertising processes, which can save time and resources. For example, it can help brands automate the sending out of personalized emails to consumers based on their behaviours and preferences.
Sentiment analysis:
AI can analyse consumer sentiment on social media and other online channels. This can help brands understand how they are perceived in the market and adapt their strategies accordingly.
Voice and text analysis:
AI can analyse the voice and text of consumers to identify patterns and trends. This can help brands recognise the needs and desires of their audience better and so create products and services tailored to their expectations.
Finally, the human factor
In a VUCA world, organizations and brands must be agile, flexible, and evolve constantly. Artificial intelligence can be a valuable tool in this task.
However, it is the human factor behind the brand that must provide consistency and coherence to its strategy to demonstrate the authenticity of its purpose.
