How Small Businesses Can Grow with AI

How Small Businesses Can Grow with AI

Artificial intelligence (AI) is having quite a moment, especially with the recent release of ChatGPT, an AI chatbot that can do everything from write a resume to churn out website code. AI tools like this will only become more and more prevalent, and they’re destined to increase productivity across countless industries. Small businesses are already using AI to improve their operations, enhance the customer experience, and much more. Here are three areas AI can enhance to help small businesses grow.

Enhanced Customer Experience 

Some of the most effective customer service strategies are those that focus on creating personalized experiences. Chatbots, one of the AI tools that is emerging as a powerhouse for personalized content, offer customer service round the clock—something that would be prohibitively costly for small businesses. These chatbots can help answer customer questions, resolve issues, and cut back on wait times for live agents. And the more they’re used, the smarter they get: every customer interaction improves the accuracy and ability of chatbot technology. Automating customer service tasks, such as sending transactional messages for shipping updates, is another way the customer experience can be enhanced with AI. People are more likely to return to your business if the customer service they receive meets them where they need it most: Whether they’re multi-tasking during the day, on the road to a school event, and anywhere in between.

Enhanced Marketing 

Personalization again takes center stage with the help of AI. The best marketing tactics are those that speak to each individual customer in a way that resonates with their specific needs. AI can distill customer data, including customer demographics and shopping behaviors, to tailor marketing messages. Businesses can use these tools to segment their customer base and deliver personalized email campaigns, direct mailers, targeted discounts, and social media posts. Using AI to create personalized marketing strategies is one incredible way to remind customers that you’re always considering their interests and needs; this creates loyalty, which translates to revenue.

Enhanced Content

Content creation can be a guessing game for copywriters, but AI is changing that. Artificial intelligence can analyze content and determine which types of content (video, audio, text, etc.) perform best. It can then take this data and make suggestions, knowing full well that there’s a high likelihood it will be high performing. AI can also write email campaigns, create images, develop ad copy, make a website, and much more.

We’re probably just scratching the surface of what AI is truly capable of. At the very least it has the power to transform the way you look at doing business—and hopefully help you create the ultimate customer experience. AI can quickly answer questions in the data-driven, results-oriented way that humans might not have the capacity to do. It can predict with incredible accuracy what a customer wants to buy, read, eat, and see. It’s fascinating—and something we’re certainly all keeping an eye on over at the Financial Pantry. Be sure to stop by ARF Financial today to stay updated on all things small business