[Author: Noreen Fishman]
Law firms today are focused on adopting smarter technology to help them market better and gain more clients. More intelligent platforms can allow law firms to gain a competitive edge, work more efficiently, and get a better understanding of their target audience. Insights acquired through artificial intelligence (AI) can be applied across several areas of your firm. Here’s what’s happening with AI in marketing and what legal marketers need to know.
What is AI Marketing?
First of all, 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 could impact marketing efforts.
AI is really helpful where speed is important. Using AI tools to gain market or client insights and then create and send timely communications ensures 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 a key role in today’s marketing strategies. There are a few components that make up the leading solutions. These elements can bridge the gap between the expansive amounts of customer data being collected and the actionable next steps.
Machine learning – This involves computer algorithms that can analyze information and improve automatically 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 come to rely on big data to understand their efforts and accurately attribute value across channels. In fact, there are so many data sets that it can be difficult to determine which are worth collecting.
AI platform solutions – An overall AI solution can provide marketers with a central platform for managing the huge amounts of data being collected. Platforms are great for deriving useful market intelligence about your target audience and how to promote to them.
The Challenges of Using AI
AI sounds great, right? It is incredibly effective, but there are some hurdles to overcome. It’s really important to be discerning when deciding how to best integrate AI into your campaigns and operations.
Training time – Tools are like people, in that they require time to learn organizational goals, customer preferences, historical trends, etc.
Data quality – Data quality assurances are important. If tools do not leverage accurate, timely, and representative data, then decisions will not be optimal.
Privacy – Consumers as well as regulating bodies are getting more particular about privacy. It’s essential that marketers use data ethically and in line with current regulations.
Stakeholder buy-in – It’s not easy to prove the value of AI early on. AI also improves client experiences and brand reputation, which can be difficult to quantify.
Deployment issues – Since AI is relatively new, there aren’t really established best practices to follow just yet.
How to Use AI in Law Firm Marketing
A thorough plan is required to make the most of AI in your law firm. Before you can implement successful campaigns, make sure to follow certain steps:
Choose an AI platform – Determine which technologies will be leveraging AI and what solutions you want to use
Establish goals – Clear objectives and measurable analytics should be in place before you create any programs
Data privacy standards – Make sure that you will not be violating any privacy laws at the outset of your campaign
Data quantity and sources – In order for AI to work, marketers need to have a large amount of data at their disposal
Acquire data science resources – Many marketing firms currently lack the resources to properly use and make the most of AI
Maintain data quality – The more data that your program consumes, the more accurate its results will be – so it’s essential that said data is consistent, relevant, and correct
Related: What is Marketing Automation and How Can It Benefit Your Firm?
The Benefits of Using AI
Used correctly, AI can generate both quantifiable and indirect benefits. Depending on how your firm uses AI, you can expect risk reduction, increased speed, etc. A few common benefits that can be realized across any AI use case are:
Real Examples of AI in Marketing
AI is being used broadly in digital marketing in many ways. Every use case will result in different results, but here are a few ways that law firms can take advantage of AI in their marketing programs.
Bid strategies on programmatic media buys – Programmatic advertising is a specialized type of data-driven advertising that uses computers and algorithms to assist legal marketers in reaching their target audiences in real time.
Choosing the right message – Machine learning will help to determine what messages are most likely to resonate based on demographics, past behavior, and user profiles.
Detailed levels of personalization – Clients today expect a high degree of personalization and AI can offer messaging based on location, past brand interactions, and a host of other data points.
Chatbots – These tools can augment client service representatives and give immediate, accurate answers to some questions.
Predictive marketing analytics – In many areas, marketers can use an assortment of machine learning, algorithms, models, and datasets to predict future behavior.
Increased efficiency across operations – AI can help to automate several manual processes such as sorting data or answering FAQs.
We are at the forefront of the AI movement, but machine learning will change the way law firms – and most people in every industry – market to their audience. AI can help your team become more efficient, more productive, and more effective – but only when implemented thoughtfully.
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 Jul 30, 2021.