Excerpts from the Fix the Convince podcast by Paul Mosenson.

A discussion of AI, or Artificial Intelligence, and how the technology can be utilized properly with yor customer list, with the goal to generate more revenue and ROI via email programs and Facebook campaigns. It’s using data to match buyer trends with products they will most likely buy.  It’s really interesting.  And it’s part of the Convincing process.‘ Paul Mosenson

On the subject of AI in business and marketing…

In essence AI, at its most basic definition is getting computers to think and act like humans. We are seeing this with Amazon/ Netfilx – providing product and movie recommendations.

On the subject of intent data and predictive analytics…

Intent data mainly deals with potential, new customers. Standard Insights is strictly a remarketing platform that helps businesses drive repeat buyers. We use a combination of predictive analytics (what’s going to happen) and prescriptive analytics (best course of action). We then execute campaigns based on what one is likely to purchase.

On the subject of looking into a company’s CRM or customer list, what items does Standard Insights look at to being modeling valuable customers…

One of the things that we look at is profitability scoring. We study potential financial gain from one’s customer base using RFM analysis (how recent and how often someone has purchased as well as how much money one has spent).

On the subject of how AI can help businesses sell more to their customers…

AI can help classify who are your more profitable, top-tier customers. It can help segment them based demographic, geographic, psychographic, and/or behavior characteristics. It can help predict what’s going to happen next and prescribe the next best course of action. Prioritize and execute data driven campaign. No more guesswork or missteps.

Listen here for the full conversation.

Curious to see how to utilize AI to Retarget High Value Customers Effectively for Increased Revenue?