Tech

Working smarter not harder: Four ways AI can support your business 

- April 19, 2024 3 MIN READ

 

There is no doubt that you’ve seen AI appear in the news and come up in conversation. But how can AI help the average entrepreneur? asks Harry Lowes, Director of Mid-Market ANZ, Meta.

Small and medium-sized businesses are constantly looking for ways to work smarter, not harder. In fact, over 90 per cent of SMBs using AI in their day-to-day operations report experiencing increased business success.

While there are plenty of AI tools out there, they can be borderline overwhelming. Here are four simple ways you could use AI in your business to help you save time on laborious tasks, increase your capabilities, or even reach new customers more effectively. 

1. Leverage AI to bring your imagination to life


Today, the majority of us are discovering brands online and on social media. But for small and medium-sized businesses, it can be incredibly onerous and time consuming to balance always-on marketing campaigns while juggling other business needs. 

Now, brands can bring their most imaginative ideas to life with AI tools right at their fingertips. Need a suite of campaign images for an ad but don’t have the budget for photography? Not a problem with AI image generation technology from the likes Adobe, Canva, and more. 

We also know people are visiting social media channels more and more to watch videos, particularly short-form video. To put this into perspective, users are re-sharing Reels more than 2 billion times every day. AI can help businesses keep up – it can help come up with video content ideas, plan production and timings, generate visuals and even speed up the editing process.

2. AI can help you to stay on top of customer service


A happy and loyal customer base is the key to success for any business. It’s no longer enough just to provide timely replies to customer queries; the modern consumer expects personalisation. Importantly seeing promos and offers relevant to their interests and receiving a customer service experience that feels personal. 

According to McKinsey research, businesses that get personalisation right drive 40 percent more revenue than other companies. Unsurprisingly, when companies fail to meet these expectations, 76 per cent of customers express frustration.

Good communication is central to keeping customers happy. It can be as simple as using AI-powered chatbots on your website or enabling you to connect with customers across social media platforms to provide instant assistance and streamline queries. 

These bots can handle routine tasks, freeing up precious time to focus on more complex customer needs. Additionally, businesses can leverage AI tools to personalise recommendations based on customer behaviour and preferences, creating a tailored experience. So buckle up because, with AI on your side, you can take your customer service to a whole new level.

3. AI can be your advertising ally

How much time and money could you be saving with AI? If you manage your marketing internally and need a faster solution to advertise your products or services, AI can be your most powerful ally. 

Most advertisers expect to save time by using AI, with more than half estimating that generative AI will save up to five or more hours a week – the equivalent of one month per year. 

Social media companies are making it easier than ever for brands to tap into AI advertising and marketing tools within the platform itself. AI and machine learning can help optimise campaign results, personalise ads by serving them to the right people at the right time. 

To reach more people and inspire purchases, Australian business Zala Hair Extensions tested a Meta Advantage+ shopping campaign on Instagram that included a mix of video, photo and carousel ads featuring customers and creators demonstrating how to use its hair products. As a result, they achieved 1.5X more purchases compared to the usual campaigns they run and a 79 per cent higher return on ad spend from the Advantage+ shopping campaign. 

AI does more than just save time, it enables businesses to deliver personalised ad experiences to users, it tailors content based on preferences and ensures your content is delivered to the right audience.

4. Don’t miss out on AI-powered data insights

Imagine having a crystal ball that shows you exactly how your customers interact with your content, and what works and what doesn’t. Well that is exactly what AI powered tools can do for you. 

The days of online surveys and customer feedback forms are long gone. AI tools can offer instant information by crunching the data and creating smart insights, allowing you to tailor your content using real-time data. For the first time, small businesses have the power to use big-player technology to get ahead of their competitors and make the most of the data and analytics they might have been missing out on. 

By employing these strategies, you can captivate your audience, streamline processes, and take your business to the next level.


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