This is huge news because up until now, Artificial Intelligence was really only a tool for large organisations. This very sophisticated technology can give marketers the edge in how they reach their customers but can involve enormous expense and demands rare skills. With so many channels to monitor and sources to keep track of, the task is a mammoth one. But with Einstein - “Artificial Intelligence for everyone” - this capability has been integrated into the platform at source. All you have to do is switch it on!
Predictive analytics will take marketing to new levels
Bob, Salesforce’s Chief Analytics Officer, explains in a recent blog post what this fantastic new technology can do for your marketing. At the outset, he makes the important point that what sets Einstein apart from analytics in the past is exactly that - analytics in the past has been only about the past. It provided a look back at what had gone before, not what was happening - or even better what will happen. Einstein is able to analyse what is happening in your CRM right now, in real time; but can also make a prediction about what will happen.
This is very powerful. Today’s marketing landscape changes at a very rapid rate and the modern connected customer adapts from moment to moment. To stay ahead of that curve requires an understanding of the present and the future - not just the past.
Bob outlines three specific resources Einstein provides marketers in the way they can conduct Journey Mapping for their customers:
- Predictive Scoring gives marketers the power to gauge how likely it is that customers will engage with an email, unsubscribe from a list or make a web purchase - based on previous activity.
- Predictive Audiences is an automatic way of segmenting audiences based on common activities and behaviours.
- Automatic Send-time Optimisation analyses open rates in real time so that you can derive the most ROI from your campaigns by timing your emails for when they are most likely to be engaged.
It’s only the beginning for AI
The results that this technology has seen during its time in beta testing with customers has been very impressive. Bob details one example for instance where an e-commerce and coupon company ShopAtHome achieved a 23 per cent increase in email clicks and a 30 per cent increase in open rates. This kind of optimisation brings huge increases in ROI for your marketing campaigns. As a result, the ROI for Einstein is more or less immediate.
What is interesting about Bob’s post too is that he describes the Salesforce’s journey towards Einstein, placing its announcement in the context of Salesforce Wave and the acquisition of BeyondCore, for instance. It tells a story of the increasing insight Salesforce is able to provide customers. But as well as looking back, Bob describes some of the developments that are on the horizon.
There are few people as knowledgeable about Einstein and the Analytics Cloud as Bob. Check out his blog today for all of the insights into how these important technologies can help you in your day to day role.