AI for Small Businesses

The 7 Benefits of AI for Small Businesses

Last updated on June 23rd, 2022 at 04:29 am

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Artificial Intelligence has made a huge difference in the business sector. It has provided retailers with an advantage over others in several domains such as e-commerce, manufacturing, HR, Accounts, Marketing, etc.

AI is more specifically beneficial to small businesses as they are mostly selling their products through online platforms. According to a survey, 29.5% of small business CEOs have spoken in favor of AI integration for their businesses.

This blog pinpoints how AI can be beneficial for SMEs. Let’s have a look!

1. AI For Enhanced SME Marketing

One of the most prominent benefits of integrating Artificial Intelligence into small businesses is automating marketing operations. Automated marketing enables SMEs to target customers, improve communications, and develop more focused campaigns. Marketing that uses artificial intelligence is focused on bringing the product in front of the right client.

It uses enhanced AI models and concepts that have enriched the marketing experience for hundreds of businesses worldwide. Businesses that use AI can manage marketing on social media platforms like Facebook, Instagram, YouTube, etc. With more targeted and focused means of marketing, businesses can boost their marketing campaigns and improve their returns.

2. AI Revolutionizing Customer Care

The digital world we live in today requires businesses to be prompt with their customer replies. However, most customer interactions are conducted through emails, chat, social media, or telephonic calls that require human assistance. Unfortunately, humans cannot provide the efficiency and promptness of machines.

Through AI, small businesses can respond to their consumers in real-time and decipher which consumers are talking about the brand at which platform to integrate consumer care and ensure that consumers have a positive interaction with the brand at every touchpoint.

Automating communication with the customer is the gateway towards success for any business. Artificial Intelligence is a great way to automate customer interaction. The applications and software that use Artificial Intelligence pick data from the previous interactions to instantly generate automated responses to consumer queries.

3. Custom Chatbots with AI

The best thing about AI platforms is that they form a more intelligent version of the software the more they interact. An example of a similar interaction is through AI chatbots. Most businesses have integrated an AI chatbot on their websites, which helps them respond to several people simultaneously and even initiate conversions with messages like: “How can we help you?” According to research, it has been estimated that more than 80% of customer interactions will be taking place on AI-based software this year.

When choosing a chatbot, you need to consider several factors, such as cost and efficiency. For example, some companies prefer technically advanced chatbots such as Jarvis, whereas others prefer a chatbot that helps them analyze statistics such as Statsbot. You can also design a custom chatbot that fulfills your business needs through companies like Intercom.

4. AI Improve Predictability

If you’ve any marketing experience, you must know that marketing is all about chasing expected outcomes. You cannot run ad campaigns, apply SEO techniques, or even post content without deciding your desired outcome. AI helps small businesses predict the outcome and hence the efficiency of a marketing tactic or campaign to optimize their resources.

AI’s ability to predict outcomes accurately is beneficial for small businesses as they don’t have an unlimited marketing budget to spare. It can marketers choose the campaign that has the most potential to achieve their marketing goals.

For example, suppose a carpet cleaning services provider uses AI. In that case, the technology will assess their previous sales data to determine consumer behavior and suggest which marketing campaign would be most suitable. In this way, the company can reduce its expense and maximize the efficiency of its marketing efforts.

5. AI For Smarter Cybersecurity

Cyberattacks and other cybersecurity-related threats have caused a massive issue for businesses. Small-scale businesses, especially, are troubled by these threats as they don’t have the resources to counter a cyber-threat or its aftermath. If hackers hack into a small business, it may very well end up crumbling the business as small businesses cannot bounce back from the financial and reputation damage.

An efficient way to counter cyber threats is to use AI to ensure data security and protect the business from cyber threats. Through machine learning tools and artificial intelligence, businesses can detect any strange behavior on their website or social media platforms. This way, they can improve their online security and detect threats before stepping into bigger issues.

6. Smoother Recruitment Processes

Most businesses might find this completely irrelevant, but your employees make the ultimate difference in shaping your company’s future. What if we told you that this process is now taken care of by AI-based software applications as well? AI tools use their capabilities to sift through hundreds of CV’s and find the employees that are the right fit for your company. Automating this business process will help you save tons of time and a whole lot of hassle too. Moreover, AI tools are intelligent enough to take care of any admin-related tasks, especially monotonous nature.

7. AI Revitalizes Brand Loyalty

Most consumers nowadays expect a more personalized experience. Whether you are talking about products, services, or customer care – all customers are looking for the element that will help them feel like they are the center of your attention. Unfortunately, most businesses are unable to deliver personalization at a higher level because of which their ad campaigns fall flat, and they lose their customers somewhere in the middle of the purchase cycle.

By using consumer data, AI can help small businesses give their consumers a more personalized experience. AI tools help brands analyze past purchase behavior and understand the buyer psyche, strategically planning out their next marketing campaign. This process eventually increases the loyal customers and enhances brand loyalty among the existing ones too.

Key Takeaways

The truth is that it will be a constant struggle for small businesses to rise amongst the competition and make their place amidst the industry giants. However, the smart use of technology and social media platforms has made it a tad bit easier for small businesses to thrive among giants.

Artificial Intelligence and machine learning are powerful tools that can help make your ad campaigns and business ventures much more successful. The benefits we have listed above are tried and tested by businesses already using AI to its full capacity. Integrating AI into your business can help make your business a success in no time!