AI Brand Strategy | How To Use Artificial Intelligence in Brand Strategy

 

EPISODE 137

CHRONICLE: December 7th, 2023 AI Brand Strategy | How to Use Artificial Intelligence in Brand Strategy

" Artificial intelligence is the new electricity." - Andrew Ng

 

Today's hot topic is AI, the who, what, when, where, and why. Most global brands we work with at LiquidMind want to know first what it is in definitive terms, how it can impact my brand, who can use it, and where we can apply it, making it measurable and lessening the overall impact.

Each of these is always a great question, and when we work with our brands to determine the best fit for AI, we usually bring it down to simplistic terms and data points. We whiteboard for them, write out solutions, and mindstorm ideas for application within the brand where we can measure results and enhance performance.

AI is not something to be feared, but you must understand. We have seen firsthand many brands implement AI for the sake of implementing AI. This is the wrong first step, as it creates confusion within the brand and inefficiencies outside the brand. Determining and pinpointing the best areas for implementation, communicating the effects to the team, and measuring results are great first starts.

Since we work with many brands on their go-to-market (GTM) strategy and ongoing strategies, I have outlined some starting points for brands to consider when analyzing Artificial Intelligence for their brands.

Artificial Intelligence (AI) can play a significant role in shaping and optimizing your brand strategy. Here are several ways you can leverage AI in the process of creating and refining your brand strategy:

1. Market Research |

• AI tools can quickly process vast amounts of data and provide insights into market trends, customer behaviors, and competitor activities.
• To understand brand perceptions, utilize AI-powered analytics tools to gather and analyze data from social media and community reviews.

Segmentation |

• AI algorithms can help identify and analyze customer segments based on various parameters such as demographics, behavior, and product preferences.
• Use AI to create personalized marketing strategies for consumer segments, ensuring more targeted and effective communication.

Analytics |

• Leverage AI to predict future trends and consumer behaviors. This can build your brand strategy by anticipating market shifts and leapfrogging your competition.
• Predictive analytics can also assist in forecasting demand for your products or services.

Chatbots and Virtual Assistants |

• Implement AI-driven chatbots on your website or messaging platforms to enhance customer engagement.
• Chatbots can provide instant support, answer queries, and gather valuable customer feedback, ensuring a positive brand experience.

Content Creation and Personalization |

• Use AI tools to generate and optimize content for your brand. AI-powered content creation platforms can assist with copywriting, design, and video production.
• Implement personalized algorithms to tailor content and experiences based on user preferences, improving engagement.

Social Media Monitoring |

• Create AI tools for social media monitoring to track brand mentions, identify influencers, and gauge overall brand sentiment.
• Analyze social media data to understand how your brand is perceived and adjust your strategy.

Dynamic Pricing Optimization |

• Implement AI algorithms for dynamic pricing, adjusting prices based on demand, competitor pricing, and other global factors.
• This can help maximize revenue and increase your brand competitiveness.

Supply Chain Optimization |

• Integrate AI to optimize supply chain processes, predict demand, manage inventory efficiently, and timely deliveries.
• This can contribute to a positive customer experience and reinforce your brand's reliability.

Employee Productivity and Insights |

• Utilize AI tools to enhance internal processes, automate routine tasks, and provide valuable insights to improve decision-making.
• This can contribute to a more efficient and innovative organizational culture, positively impacting your brand.

While AI can bring tremendous benefits, it's critical to implement it thoughtfully into your brand strategy, ensuring that it aligns with your brand values and enhances the internal support and the overall customer experience. Regularly review and update your AI-driven initiatives to stay current with technological advancements and evolving market dynamics.

 

Stay True, Stay Authentic, be Different, and be Great!

Enjoy the Journey!

 

Bryan Smeltzer, President

 LiquidMind Inc.

 

#TheVisionaryChroniclesPodcast

#TheVisionaryBrandBook

 

@LiquidMindsite.com

@BryanSmeltzer.com

 

 © All rights reserved, Bryan Smeltzer, 2023

 

 

Bryan Smeltzer is a consumer products business executive and entrepreneur. He has held executive-level roles in business development, Product, and marketing with some of the world's most prestigious brands, including; Oakley, TaylorMade, Adidas, K-Swiss, and Schutt Sports, among other international brands. He also founded a men’s apparel brand, successfully running a profitable business for ten years, eventually selling to a VC firm.

He also hosts a Podcast called The Visionary Chronicles, ranked as the #1 Visionary and Top 50 Marketing Podcasts by Feedspot, and recently finished his first bestselling book, The Visionary Brand, The Success Formula Behind the World’s Most Visionary Brands, and recently received the prestigious Readers Favorite Award for BEST Non-fiction, Marketing Genre book.

With the book's release, Bryan created The Visionary Brand MasterCourse. The Master Course site at The VisionaryFiles.com includes a Master Course with 18 Video Learning segments and almost 2 hours of Visionary lessons training. Over the past five weeks, over 1,500 brand leaders and Entrepreneurs have taken the Master Course! Unleash your potential as a brand leader and take the Master Course.

He is also a member of the Board of Advisors at UCI’s BCIE along with their New Venture Program, an Innovation Advisor at the UCI’s Applied Innovation program at the Cove, a Mentor/Advisor to UCLA’s Price Center Venture Accelerator Program, and a Mentor/Advisor at the San Diego Sports Innovators Accelerator (SDSI) center.

Bryan oversees LiquidMind Inc., a global brand strategy firm that partners with start-ups and established mid to large-cap consumer brands to empower businesses to think differently, be different, drive a passionate culture, and execute relentlessly.

You can contact or  follow him at;

 

 email | bryan@LiquidMindsite.com

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