[Author: Noreen Fishman]
Law firms today are focused on embracing smarter technology to market better and reach more clients.A more intelligent platform
Help law firms gain a competitive edge, work more efficiently and better understand their target audience. Insights gained by artificial intelligence (AI) can be applied to several areas of your company. Here’s the state of AI in marketing and what legal professionals should know.
What is AI marketing?
First, let’s define AI. Artificial intelligence is the practice of using technology platforms and algorithms to make automated decisions based on data collection, analysis, and additional observations of audience or economic trends that may influence marketing efforts. am.
AI can be very helpful when speed is important. Get market and client insights using AI tools to create and send timely communications so the right people get the right message at the right time. Some AI use cases include data analysis, natural language processing, media buying, automated decisions, content generation, and real-time personalization.
Components of AI in Marketing
AI plays an important role in today’s marketing strategies. There are several components that make up the main solution. These elements can bridge the gap between the vast amount of customer data collected and actionable next steps.
- machine learning – It includes computer algorithms that can analyze information and automatically improve through experience. For example, devices can analyze new information in the context of historical data to make better decisions.
- Big Data and Analytics – Digital media marketers, in particular, have turned to big data to understand their efforts and pinpoint value across channels. In fact, there are so many data sets that it is difficult to decide which ones are worth collecting.
- AI Platform Solution – A holistic AI solution can provide marketers with a central platform to manage the vast amount of data that is collected. The platform is perfect for pulling useful market intelligence about your target audience and how to promote it.
Challenges of using AI
AI is great. While this is very effective, there are some hurdles to overcome. Having discernment is critical when deciding how to best integrate AI into your campaigns and operations.
- training time – Tools are like humans in that they take time to learn things like organizational goals, customer preferences, and historical trends.
- Data quality – Data quality assurance is important. Decision making is suboptimal when tools do not leverage accurate, timely and representative data.
- Privacy – Consumers as well as regulators are becoming more sensitive to privacy. It is imperative that marketers use data ethically and in line with current regulations.
- Stakeholder buy-in – Proving the value of AI early is not easy. AI also improves the hard-to-quantify client experience and brand reputation.
- Deployment issues – AI is relatively new, so best practices to follow are not yet established.
How AI is used in law firm marketing
Getting the most out of AI in your law firm requires careful planning. Before implementing a successful campaign, be sure to follow these steps:
- Choosing an AI Platform – Decide which technologies to leverage AI and which solutions to use
- set a goal – Clear goals and measurable analysis should be conducted before any program is written
- Data privacy standards – Make sure you are not violating privacy laws when launching your campaign
- Data volume and sources – For AI to work, marketers need to have vast amounts of data at their disposal.
- Get data science resources – Today, many marketing firms lack the resources to properly use and maximize AI.
- Maintain data quality – The more data a program consumes, the more accurate its results. Therefore, it is imperative that the data is consistent, relevant and accurate.
Related: What is marketing automation and how does it benefit your company?
Benefits of using AI
Used correctly, AI can generate both quantifiable and indirect benefits. Depending on how your company uses AI, you can expect reduced risk, increased speed, and more. Common benefits that can be realized across AI use cases include:
Examples of AI in Marketing
AI is widely used in digital marketing in many ways. While results will vary for each use case, here are some ways law firms can leverage AI in their marketing programs.
- Bidding Strategies for Programmatic Media Buying – Programmatic advertising is a special type of data-driven advertising that uses computers and algorithms to help legal marketers reach their target audience in real time.
- Choosing the Right Message – Machine learning helps determine which messages are most likely to resonate based on demographics, past behavior, and user profiles.
- Detail level personalization – Today’s clients expect a high degree of personalization, and AI can deliver messages based on location, past interactions with brands, and many other data points.
- Chatbot – These tools empower client service representatives to provide immediate and accurate answers to a few questions.
- Predictive Marketing Analytics – In many areas, marketers can use a variety of machine learning, algorithms, models, and datasets to predict future behavior.
- Improved efficiency across operations – AI can help automate some manual processes, like sorting data or answering FAQs.
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We are at the forefront of the AI movement, and machine learning will change the way law firms (and most people in all industries) market to their audiences. AI can help teams be more efficient, productive, and effective, but only if implemented carefully.
When starting out, it’s a good idea to work with an expert who can ensure the tactics you’re considering are the best ones.
This post has been edited and republished from July 30, 2021.
