Ideally, your brand illustrates who your organization or company is and how it’s perceived by your customers. This means both marketing and product managers need to work closely to protect the overall brand value.
Brand management, at its core, is all about sustaining, positioning, defining, crafting, and ensuring a good brand reputation. All in all, brand management is vital as it helps your company influence purchasing behavior; reassuring clients that your company values them; achieving customer loyalty.
This is where Artificial Intelligence (AI) can make all the difference. Improving customer experience, guarding online reputation, monitoring brand reputation, or leveraging brand engagement, to name a few. AI plays a key role in enhancing a company’s brand value.
In this article, I’ll discuss how AI can help improve brand management. Read on to find out!
The impact of AI in brand management
A recent study by Markets and Markets indicates that the global AI market is expected to reach a market value of $190 Billion industry by 2025.
Image Source: Markets and Markets
The use of AI has certainly helped in transforming various sectors, which include the health sector, HR Sector, and brand management is no exception. Microsoft and Google are among the leading global brands that have shifted their focus on AI research. They are aiming to transform their main user service platforms by incorporating AI.
Other leading brands like Facebook, Alibaba, Amazon, and Apple are catching up as well. All of these suggest that AI is the core technology that’ll help in improving the company’s brand.
Here are some of the ways AI can help in improving brand management:
AI helps provide a seamless customer experience
More and more companies are shifting their focus on brand management through improved customer experience. This is because happy customers will surely promote your brand. With improved customer experience, businesses can master the art of customer loyalty management. Additionally, a positive brand reputation contributes immensely to increased growth.
With its quick and efficient solutions, AI helps businesses in providing a seamless customer experience. For instance, speech and voice recognition, interpreting human emotions, and predicting consumer behavior have all contributed greatly to improving customer experience.
According to Servion Global Solutions, by 2025, AI technology will support 95 percent of customer interactions. Companies are also using AI to provide personalized recommendations. The use of AI-powered chatbots is also becoming quite popular among brands as it helps in improving personalization, which is crucial to brand management.
Image Source: HubSpot
The above figures from HubSpot’s report show that 82% of buyers prefer quick responses from companies concerning sales or marketing queries. AI-powered chatbots offer a complete communication solution in terms of answering FAQs, guiding customers, or providing sales suggestions.
With the help of AI-powered chatbots, there won’t be any need for your customers to wait or call in for a representative as they will get the answer to all the FAQs from the chatbot.
AI helps monitor online reputation
Online customer review sites, social media posts, and word of mouth can either make or break a company’s reputation. It’s vital for organizations to analyze and monitor what clients say on various platforms so that they respond accordingly and thereby, guard
their online reputation.
Reputation is what makes consumers purchase from you or your competitor. Artificial intelligence enables companies to protect their online presence and achieve better brand management. It does this by enabling product managers and brand managers to conduct extensive analysis and research on websites, social media platforms, and other forums.
Firms that use AI for digital reputation management can accurately monitor mentions on various social media platforms. As such, it helps you identify customer feedback and online comments, as well as combat fake news.
AI helps secure customer data
Customer security is another crucial factor in guarding a firm’s reputation. With advanced cybercrime on the rise, consumers want to make sure that their data is safe. According to a study by TRUSTe/NCSA, 92 percent of consumers report data privacy and security as their primary concern.
In recent years, we have seen the introduction of CCPA and GDPR aimed at securing customer data. Organizations that have been involved in leaking sensitive information of their customers have had a negative impact on their reputation.
In today’s digital age, trust is one of the most valuable resources for business. To reinstate the trust of the audience in your brand, embracing artificial intelligence is crucial. This is a key initiative for improving brand management. For instance, with the help of AI-powered systems like voice or sound recognition, and facial recognition, you can assure your customers that there will be no compromises on the security of their data.
AI helps deliver customer care
Customer care is also a critical component of brand management. Essentially, a firm must ensure that the concerns of its customers are attended to in an effective and timely manner. Failing to do so will affect the trust of your clients.
When your audience loses confidence in your brand, they’ll no longer purchase your services or products. This is where AI tools can aid in improving how organizations provide customer care. For example, AI-based chatbots help companies address the concerns of their customers 24/7. So, customers won’t have to wait for a customer care representative to start their day to get an answer to their query.
Such initiatives also help businesses save tons of money which would otherwise have been used to pay customer care reps who worked overtime during weekends. This shows that AI-based customer service helps firms achieve success in a number of ways.
The bottom line
These are some of the ways AI helps businesses improve brand management.
With a refined brand management strategy, companies can achieve customer loyalty and increased sales using AI tools.