Co-founder and CEO of Elevatix , an artificial intelligence engine for mobile app monetization.
Personalized content and targeted advertising have been shown to have a significant impact on business revenue. However, in an era of increased attention to privacy, 75% of Americans express great concern about online privacy. According to a McKinsey research report, companies that do not improve their data strategies over the next year could face 10% to 20% additional marketing investment to achieve comparable results.
So how do you change your data strategy and aim to regain consumer trust?
When two currents collide
In the ever-evolving modern business landscape, two major trends have emerged as drivers of change: a customer-centric approach to marketing and an increasing focus on data privacy. While these distinct trends have great potential to improve customer relationships and increase revenue, their collision presents complex, multifaceted challenges for organizations seeking to balance customer engagement with personal data protection.
Ethically trained AI is key
Navigating this complex landscape requires a multifaceted approach for technology systems to enable personalized experiences while respecting data privacy rights. A key tool to overcome these challenges is ethically trained AI, which plays a critical role in creating customer-centric marketing strategies and elevating customer relationships to levels of power and trust.
Such AI training does not use sensitive data due to regulations such as GDPR and CCPA, which reflect global recognition of the need to protect people's privacy rights.
The main difference between AI ethical models is the collection and analysis of aggregated, anonymized data that is not linked to individual users. Such data may include geographic trends, purchase history without specific user identifiers, and general patterns of customer behavior. A very popular ethical AI training technique is associative filtering. This approach recommends products or content based on customer behavior and preferences without needing to know individual personalities. Their role is based on identifying patterns and commonalities in customer interactions.
Impersonal customer segmentation: does it work?
Another important practice that can improve customer-centric marketing is behavior-based customer segmentation using ethical AI.
The basic principle revolves around forming appropriate groups of customers, based on their behavior and preferences, avoiding any connection with personal information. Segmentation, when used effectively, serves a purpose beyond marketing and promotes a customer-centric approach in all aspects of your business. This approach not only boosts your marketing efforts, but also makes customers feel valued, understood, and cared for. It is a way to implement customer-centric marketing solutions that prioritize user privacy and avoid the use of personal data, without limiting itself to offering a profitable marketing strategy.
Five ways to interact with an ethically trained AI:
Invent marketing strategies and a customer-centric approach: By focusing on user behavior, preferences and interests, your marketing strategy is tailored to individual needs. This results in a better customer experience and higher engagement rates. On the other hand, behavioral segmentation forces marketing teams to think creatively and develop innovative strategies that do not rely solely on personal information.
Greater customer trust and long-term customer relationships: Marketing based on non-personal data creates stronger, longer-lasting customer relationships. Customers appreciate the value you provide without invading their privacy.
Regulatory Compliance: Complying with privacy regulations helps your company avoid legal penalties and reputational damage associated with data misuse.
Positive Brand Reputation: Demonstrate your commitment to responsible business practices, improve your brand reputation, and attract socially conscious customers.
Future-proofed: As privacy concerns continue to impact consumer sentiment and control, organizations with established privacy practices are better positioned to adapt to changing data protection requirements.
wrap around
In conclusion, ethically trained AI is the foundation of modern marketing. Provides unprecedented precision in monetization and customer-centric communication. What sets this solution apart is its ability to satisfy all customers, respecting the choice of those who choose not to share their personal data, as it is in line with the ethical principles of AI Marketing.
This approach certainly paves the way to success by proactively generating revenue while also complying with privacy regulations. Ensure a seamless customer experience by emphasizing the importance of privacy and trust.
Today's business leaders are not only able to drive innovation and achieve their business goals, but they also master the ethical and responsible management of technology.
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