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How to convert target audiences into paying customers (through AI)

Next time you search for a pair of shoes online, don’t be alarmed to see the same or similar shoes stalk you, in your email on social media, or wherever you go, online. The trail that you left post your search was picked up through AI and delivered to you in the form of a customized ad. The probability of your clicking on that ad is quite high, and eventually you may end up buying those ‘stalker’ shoes. OTT platform Netflix and digital music service Spotify too are able to gather data based on your online search behaviour across devices and accordingly generate targeted ads on what to see or hear next for higher conversions. Netflix often shows a ‘percentage match’ against the shows or movies which is calculated on the basis of your previous watching patterns.

The Modus Operandi

At Infinite Analytics, we use the unique combination of behavioural data and customer demographics such as age, gender, marital status, income for arriving at target groups. Add to that customer psychographics and we have the perfect recipe to find highly accurate information on buying frequency and preferred brands of customers. We can thus know what the customer wants and when. Marketers often use such insights to encourage customer loyalty. For example, when Airbnb uses AI to provide personalized listings to customers, it leaves little room for them to go to another online marketplace, hence changing the way customers behave due to AI-driven customer satisfaction. Tik Tok‘s grand success is due to their user psychographics which are very different even though the demographics may be similar. Customized marketing communication helps customers convert due to the irresistible and often targeted offers by brands. Uber discount codes are yet another example, which are sometimes offered to select users.

The ‘How To’ of conversions decoded

At the end of the day, using AI on the data collected into conversions is every marketer’s dream. We use Precision Targeting which gives the customer an edge to be able to reach out to the right target audience among the customer segment that actually converts. For the customer, it gives a feeling that the marketer has crafted a personalized experience for them by reaching out with the right message at the right time. AI helps in studying buying habits of the customer for a particular product or service over a period of time. While food delivery platforms like Swiggy and Zomato use AI powered chat bots to address customer queries, online portals like Amazon keep recommending products that customers may like in the future or even add to their current purchase. Past buying patterns also indicate when they may buy the product next, and hence such platforms can offer discounted subscription offers for the same product purchased regularly over a certain period.

We create Lookalike Models outside of Facebook and Google. These mass-use platforms have the edge with inexhaustible data at hand as everyone uses them. Facebook and Google create an online persona of the users by using information fed to use these platforms such as name, age, job title, education, what kind of content/pages you like/follow/search and then share the same data with advertisers for efficient advertising. By creating lookalike audiences we take data points from your client-base and use Predictive Analytics to look at bigger user-groups, and arrive at a customer persona which is quite precise or is the ‘lookalike’ of your best customers.

So as the popular one liner goes, next time you are not able to find the product you want online, just text someone about it. Chances are you will start seeing the ads on Facebook for that product 🙂 Keep coming back to read in-depth information which can help you use AI better. Adios, until next time!

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wasim basir

marketing, board member

It’s most obvious in the digital media space, from click buys to personalized web experiences. For marketing, the AI journey has just kick-started, while in the tech sector it has been applied for a while now. We are still at an early stage where inroads are being made into AI content via chatbots and even some explanatory content creation but what will make anyone jump up and embrace it is when we will start seeing a lot of mainstream content being created by AI.

rich arnold

board member

Prior to joining Infinite Analytics, Richard served as the CFO of CrowdFlower, COO and CFO of Phoenix Technologies, as a member of the board of directors and chairman of the Audit Committee at Intellisync, and previously as CFO and executive vice president strategy and corporate development at Charles Schwab.

pravin gandhi

board member

Pravin Gandhi has over 50 years of entrepreneurial operational and investing experience in the IT industry in India. He was a founding partner of the first early stage fund India - INFINITY. Subsequently a founding partner in Seedfund I & II. With over 18 years of investing experience, he is extensively well networked in investment and entrepreneurial scene and is an active early stage angel investor in tech & impact space. Pravin holds a BS in Industrial Engineering from Cornell University, and serves on the board of several private corporations in India. He is on the board of SINE, IIT Mumbai Incubator.

Purushotham Botla

co-founder & cto

Puru has his Masters in Engineering and Management from MIT. Prior to MIT, he worked with Fidelity Investments building electronic trading products and high volume market data processing applications. He has completed his BE from VJTI, Mumbai.

deb-roy

Deb Roy

Executive Director, MIT Media Lab

Deb Roy is Professor of Media Arts and Sciences at MIT where he directs the MIT Center for Constructive Communication, and a Visiting Professor at Harvard Law School. He leads research in applied machine learning and human-machine interaction with applications in designing systems for learning and constructive dialogue, and for mapping and analyzing large scale media ecosystems. Deb is also co-founder and Chair of Cortico, a nonprofit social technology company that develops and operates the Local Voices Network to surface underheard voices and bridge divides.

Roy served as Executive Director of the MIT Media Lab from 2019-2021. He was co-founder and CEO of Bluefin Labs, a media analytics company that analyzed the interactions between television and social media at scale. Bluefin was acquired by Twitter in 2013, Twitter’s largest acquisition of the time. From 2013-2017 Roy served as Twitter’s Chief Media Scientist.

Erik Brynjolfsson

Board Member

Erik Brynjolfsson is the Jerry Yang and Akiko Yamazaki Professor and Senior Fellow at the Stanford Institute for Human-Centered AI (HAI), and Director of the Stanford Digital Economy Lab. He also is the Ralph Landau Senior Fellow at the Stanford Institute for Economic Policy Research (SIEPR), Professor by Courtesy at the Stanford Graduate School of Business and Stanford Department of Economics, and a Research Associate at the National Bureau of Economic Research (NBER).

Akash Bhatia

Co-Founder and CEO

Akash co-founded IA while studying for his MBA from MIT. Prior to MIT Sloan, he co-founded Zoonga. Before this, Akash was an engineer with Oracle in Silicon Valley. He has completed his M.S from University of Cincinnati and B.E from the College of Engineering, Pune.