How to Reduce Marketing Costs and Increase Sales with AI

StrategyBox uses AI to quickly consolidate the vast amounts of data that businesses are sitting on and deliver marketing intelligence in the form of beautiful, simple dashboards.

The result?

Companies are able to free up operating capital, save tons of time on manual reporting, and monitor competitor marketing campaigns.

We spoke with StrategyBox’s Founder and CEO Aaron Vidas to learn more.

In a single sentence or statement, describe your company.

StrategyBox is a marketing analytics company that puts all your marketing data into one dashboard. From there, we tell you what to do next to drive up sales.

How does your company use artificial intelligence in its products?

We use machine learning to identify the specific marketing activities that drive conversion and sales. We also use competitor benchmarking to show you your performance and spend against that of your top five competitors.

What are the primary marketing use cases for your AI-powered solutions?

Marketing executives use StrategyBox for marketing reporting, analytics, and cost optimization, as well as competitive intelligence and customer journey mapping.

What makes your AI-powered solution smarter than traditional approaches and products?

High-level, our products save time by automating the drudgery of manual marketing reporting. Our product delivers reports as beautiful, simple dashboards that consolidate otherwise disparate data.

Firstly, during onboarding, we place your marketing data in one spot so you can see your performance. We connect to every major marketing solution from Nielsen to TikTok and this process of consolidation only takes about 15 minutes.

From there, our customer journey mapping products show you a customer’s journey from first touch to sale and provides specific recommendations on what to do next to drive sales.

Competitive intelligence shows you the performance of your top five competitors, their campaigns, creative and distribution of spend by channel.

Finally, our new algorithm, RedBox, was created in response to the pandemic. Using it, executives can understand how to optimize marketing spend intelligently, without sacrificing revenue.

We’re proud that by using our solutions, our clients have saved hundreds of thousands of dollars and thousands of hours per year.

All in all, our solutions are aiding the digital transformation of reporting in the enterprise. We’re eliminating the work that marketers don’t like doing, so they can focus on what they do best – creative ideation and execution.

Are there any minimum requirements for marketers to get value out of your AI-powered technology? (e.g. data, list size, etc.)

Marketing reporting as we know it is broken. It’s time consuming and expensive. In this environment, understanding how to cut cost while driving sales can be the difference between the life and death of a business. If your business wants to save time, money and increase sales from marketing reporting, get in touch and we’ll discuss how we can help you.

Who are your ideal customers in terms of company size and industries?

Our ideal customers are small to medium businesses in SaaS and retail/ecommerce industries with between $50 million to $500 million in annual revenues. We also have a growing large enterprise practice with clients in financial services.

What do you see as the limitations of AI as it exists today?

One thing we encounter a lot is that senior executives aren’t asking their data analytics teams the right questions. Yet, they have very high expectations of the results of AI. This mismatch leads to poor performing analytics investments.

What do you see as the future potential of AI in marketing?

Machine learning and AI are already fundamentally transforming how we market our products and services. In the near future, marketing will become a process as understandable and repeatable as manufacturing.

No longer will there be mysteries about who the customer is, how they see the product, what marketing activities work, and which activities don’t! As a result, we’ll experience less waste and less fraud. Most importantly, the customer experience will be more fun for buyers and it will feel more personalized than ever.

Any other thoughts on AI in marketing, or advice for marketers who are just starting with AI?

Here at StrategyBox, we’re a company of optimists. While these are no doubt challenging times globally, we’re seeing our customers leverage data in new and exciting ways for the first time that will become the norm in the future. As businesses adapt to this “new normal,” now is the time to discover how AI can help your business not only survive these challenging times but thrive in the future.

If you’re just getting started with AI in marketing, shoot us an email and we’ll share some resources to help you put a plan in place and then get the support you need internally from your C-level execs.

 

Original post: https://www.marketingaiinstitute.com/blog/strategybox-spotlight

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