Salesforce is an American cloud computing company, headquartered in San Francisco, California. Its main revenue generated from Customer Relationship Management(CRM) product, also capitalizes on commercial applications of social networking through acquisition. Every year since 2003 salesforce is conducting a massive tech conference, named Dreamforce. Mainly, career transformation, innovation and relationship building are the aim of the largest software conference in the world.
This year’s Dreamforce has some key insights about digital marketing in 2017:
A. The 4th Industrial Revolution:
This revolution can be summarised as “Intelligence” and based on data and decision based on these data.
The 8 key technologies that lie at the centre of this revolution are:
1.The Internet of things (IOT), 2. Quantum computing ,3. Robotics, 4. Artificial intelligence (AI), 5. Nanotechnology, 6. Autonomous vehicles 7. Biotech,8. 3D- printing.
B. The rise of AI:
In the last 3 years the half of total data generated in the world. This is almost impossible to human being to manage and utilise these data manually. So human being need to use the power of AI to gain insights and create modelling that enables us to make better decisions. Additionally, customers are starting to expect it as part of service. Facebook, Google, Apple and Amazon all have AI powered assistants that are evolving quickly. Consumers will increasingly use digital personal assistants to interact with consumer services in the connected home.
Example, the US Bank (the 5th largest bank in the USA) used “AI” to perform lead scoring of 4.5 million leads, which were analysed in just two hours. The insights from applying the Salesforce’s Einstein platform also revealed that a mortgage owner is more likely to increase assets under management if they had a credit card. This insight provided a 230% lift in lead conversion with the financial advisers at US bank (Source: Keynote of Dreamforce, 2017).
C. The necessity for marketing technology and The battle for marketing platform supremacy:
Today we have moved onto the next stage of marketing, i.e. intelligent marketing. AI has become essential for savvy marketers. Marketing is no longer just an art but a science. Organisations need to manage multiple social networks, content and other marketing channels at scale. Marketing automation such as Salesforce’s Marketing Cloud is a necessity. Results from applying “AI” and personalisation, led to an improvement in ROI by huge margins on conversions and sales by sometimes 500% to 1200%.
Today only 20% of the world’s data is searchable and 80% is personal. The reality is that more data can lead to better decisions when you apply AI. Quantum computing can be used to solve big problems and provide insights but can also be used to break any security. So companies need to take responsibility in the ethics of how they use tech, data and AI. As the main moto of companies to adds value to humanity.
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