The Role Of Artificial Intelligence In Personalized And Customized Engagement Marketing: A Comprehensive Review
DOI:
10.47353/ecbis.v2i3.130Published:
2024-05-28Downloads
Abstract
Artificial intelligence is likely to have a significant impact on marketing strategies and customer behaviors in the years ahead. Research in this field has grown considerably, demonstrating AI's ability to simulate human behavior and perform tasks intelligently. With growing interest among marketing researchers and practitioners, this research aims to provide an overview of the evolution of both marketing and AI research fields. This paper explores the emerging role of artificial intelligence in personalized engagement marketing, which focuses on creating, communicating, and delivering customized offerings to customers. Utilizing the Systematic Literature Review technique, we examined over 300 academic articles to uncover prevalent themes and gain a deeper understanding of current AI utilization in marketing. We then propose a plan for future research that examines potential changes in marketing strategies and customer behaviors while emphasizing critical policy considerations related to privacy, bias, and ethics. The implications for marketing managers are discussed along with predictions about how AI will impact branding and customer management practices going forward. Our research highlighted several benefits of integrating AI into marketing such as improved customer interactions, increased revenue, reduced expenses, and enhanced overall efficiency. However, this research also pointed out areas requiring further investigation including challenges posed by AI integration like shortage of skilled personnel and data privacy concerns.
Keywords:
Artificial Intelligence Personalized Engagement Marketing AI for Customer Engagement Customer Customization Customer PersonalizationReferences
Al-Gasawneh, J. A., Al-Hawamleh, A. M., Alorfi, A., & Al-Rawashdeh, G. (2022). Moderating the role of the perceived security and endorsement on the relationship between perceived risk and intention to use the artificial intelligence in financial services. International Journal of Data and Network Science, 6(3), 743–752. https://doi.org/10.5267/j.ijdns.2022.3.007
Bao, Y. (2009, January 30). Organizational resistance to performance‐enhancing technological innovations: a motivation‐threat‐ability framework. Emerald Publishing Limited, 24(2), 119-130. https://doi.org/10.1108/08858620910931730
Bhagat, R., Chauhan, V., & Bhagat, P. (2023). Investigating the impact of artificial intelligence on consumer’s purchase intention in e-retailing. foresight, 25(2), 249-263.
Campbell, C., Sands, S., Ferraro, C., Tsao, H., & Mavrommatis, A. (2020, March 1). From data to action: How marketers can leverage AI. Elsevier BV, 63(2), 227-243. https://doi.org/10.1016/j.bushor.2019.12.002
Çeştepe, H., Çetin, M., Avci, P., & Bahtiyar, B. (2022). The link between technological innovation and financial development: evidence from selected oecd countries. International Journal of Finance & Economics, 29(2), 1219-1235. https://doi.org/10.1002/ijfe.2734
Chandra, S., Verma, S., Lim, W. M., Kumar, S., & Donthu, N. (2022). Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing, 39(8), 1529-1562.
Chen, L., Chen, P., & Lin, Z. (2020). Artificial intelligence in education: A review. Ieee Access, 8, 75264-75278.
Čubrić, M. (2020, August 1). Drivers, barriers and social considerations for AI adoption in business and management: A tertiary study. Elsevier BV, 62, 101257-101257. https://doi.org/10.1016/j.techsoc.2020.101257
Davenport, T., Guha, A., Grewal, D., & Bressgott, T. (2020). How artificial intelligence will change the future of marketing. Journal of the Academy of Marketing Science, 48, 24-42.
Digilina, O. B., Teslenko, I. B., & Nalbandyan, A. A. (2023). The artificial intelligence: Prospects for development and problems of humanization. RUDN Journal of Economics, 31(1), 170-183.
Dolganova, O. I. (2021). Improving customer experience with artificial intelligence by adhering to ethical principles. Бизнес-информатика, 15(2 (eng)), 34-46.1. Traditional technologies and customer information processing
Gao, Y., & Liu, H. (2022). Artificial intelligence-enabled personalization in interactive marketing: a customer journey perspective. Journal of Research in Interactive Marketing, (ahead-of-print), 1-18.
Hassani, H., Silva, E. S., Unger, S., TajMazinani, M., & Mac Feely, S. (2020). Artificial intelligence (AI) or intelligence augmentation (IA): what is the future?. Ai, 1(2), 8.
Heinrichs, B. (2022). Discrimination in the age of artificial intelligence. AI & society, 37(1), 143-154.
Hemker, S., Herrando, C., & Constantinides, E. (2021). The Transformation of Data Marketing: How an Ethical Lens on Consumer Data Collection Shapes the Future of Marketing. Sustainability, 13(20), 11208. https://doi.org/10.3390/su132011208
Hicham, N., Nassera, H., & Karim, S. (2023, September 7). Strategic Framework for Leveraging Artificial Intelligence in Future Marketing Decision-Making. , 2(3), 139-150. https://doi.org/10.56578/jimd020304
Ho, S. P. S., & Chow, M. Y. C. (2023). The role of artificial intelligence in consumers’ brand preference for retail banks in Hong Kong. Journal of Financial Services Marketing, 1-14.
Hollebeek, L. D., Sharma, T. G., Pandey, R., Sanyal, P., & Clark, M. K. (2022). Fifteen years of customer engagement research: a bibliometric and network analysis. Journal of Product & Brand Management, 31(2), 293-309.
Huang, M H., & Rust, R T. (2020, November 4). A strategic framework for artificial intelligence in marketing. Springer Science+Business Media, 49(1), 30-50. https://doi.org/10.1007/s11747-020-00749-9
Keskinbora, K., & Güven, F. (2020). Artificial intelligence and ophthalmology. Turkish journal of ophthalmology, 50(1), 37.
Kim, G E. (2023, July 31). How to perform and write a systematic review and meta-analysis. https://doi.org/10.4094/chnr.2023.29.3.161
Kumar, V., Rajan, B., Venkatesan, R., & Lecinski, J. (2019). Understanding the role of artificial intelligence in personalized engagement marketing. California Management Review, 61(4), 135-155.
Kurum, E. (2020). Regtech solutions and aml compliance: what future for financial crime?. Journal of Financial Crime, 30(3), 776-794. https://doi.org/10.1108/jfc-04-2020-005
Li, R., Cao, Z., Ye, H., & Yue, X. (2021, April 1). Application and Development Trend of Artificial Intelligence in Enterprise Marketing. IOP Publishing, 1881(2), 022032-022032. https://doi.org/10.1088/1742-6596/1881/2/022032
Liu, L. (2022). Quantitative impact analysis of financial support on regional science and technology innovation and productivity based on the multivariate statistical model. Mathematical Problems in Engineering, 2022, 1-10. https://doi.org/10.1155/2022/7175807
Ljepava, N. (2022). AI-enabled marketing solutions in Marketing Decision making: AI application in different stages of marketing process. TEM Journal, 11(3), 1308-1315.
Lores, L. and Siregar, R. (2022). The influence of financial resources, human capital, competitive strategy and innovation on business performance of business actors in binjai city, north sumatra.. https://doi.org/10.4108/eai.15-9-2021.2315204
Lu, W. (2021, January 1). Research on Marketing Development under the Background of Artificial Intelligence Technology. IOP Publishing, 1769(1), 012071-012071. https://doi.org/10.1088/1742-6596/1769/1/012071
McKee, S., Sands, S., Pallant, J. I., & Cohen, J. (2023). The evolving direct‐to‐consumer retail model: A review and research agenda. International Journal of Consumer Studies, 47(6), 2816-2842.
Mijwil, M., Al-Mistarehi, A. H., & Mutar, D. S. (2022). The practices of artificial intelligence techniques and their worth in the confrontation of COVID-19 pandemic: A literature review.
Mogaji, E., Olaleye, S., & Ukpabi, D. (2020). Using AI to personalise emotionally appealing advertisement. Digital and social media marketing: Emerging applications and theoretical development, 137-150.
Mursalov, M. (2020). Banking regulations and country’s innovative development: the mediating role of financial development. Marketing and Management of Innovations, (4), 168-180. https://doi.org/10.21272/mmi.2020.4-13
Overgoor, G., Chica, M., Rand, W., & Weishampel, A. (2019). Letting the computers take over: Using AI to solve marketing problems. California Management Review, 61(4), 156-185.
Pillarisetty, R., & Mishra, P. (2022). A review of AI (Artificial Intelligence) tools and customer experience in online fashion retail. International Journal of E-Business Research (IJEBR), 18(2), 1-12.
Priyanga, G. (2023, July 5). THE EFFECTS OF ARTIFICIAL INTELLIGENCE ON DIGITAL MARKETING. , 4(1SE). https://doi.org/10.29121/shodhkosh.v4.i1se.2023.431
Rana, J., Gaur, L., Singh, G., Awan, U., & Rasheed, M. I. (2022). Reinforcing customer journey through artificial intelligence: a review and research agenda. International Journal of Emerging Markets, 17(7), 1738-1758.
Rauf, D. I., Riah, N. A., Nur, Z., Putra, N. A. J., & Latifa, A. (2023). The Influence of Taste, Perceived Price, and Service Quality on Consumer Satisfaction Mixue Ice Cream and Tea in Makassar. Management Economics Trade and Accounting Journal (META-JOURNAL), 1(1), 23–32. https://abadiinstitute.org/index.php/META/article/view/4
Samuelsson, R. (2023). A shape of play to come: Exploring children's play and imaginaries with robots and AI. Computers and Education: Artificial Intelligence, 5, 100173.
Sheng, J. (2023). Is proximity better? the geographical proximity of financial resources and green innovation. Journal of Product Innovation Management, 41(1), 138-158. https://doi.org/10.1111/jpim.12702
Suryawijaya, T. W. E., & Wardhani, M. F. (2023). Tailoring the future of MSME marketing: A study on leveraging customer data for personalized experiences. Implementasi Manajemen & Kewirausahaan, 3(1), 76-88.
Wu, C. W., & Monfort, A. (2023). Role of artificial intelligence in marketing strategies and performance. Psychology & Marketing, 40(3), 484-496.
Yang, R. (2022). Development and supervision of financial technology based on blockchain. Computational Intelligence and Neuroscience, 2022, 1-10. https://doi.org/10.1155/2022/2615153
Zaman, K. (2022, May 30). Transformation of Marketing Decisions through Artificial Intelligence and Digital Marketing. , 4(2), 353-364. https://doi.org/10.52633/jms.v4i2.210
Zhi-yuan, Z., Yang, S., Sahut, J., & Hong, P. (2021). How to establish a coordinated supervisory mechanism of internet finance companies in china?. Canadian Journal of Administrative Sciences / Revue Canadienne Des Sciences De L Administration, 39(3), 259-273. https://doi.org/10.1002/cjas.1645
Zhu, C. (2022, August 3). Construction and Risk Analysis of Marketing System Based on AI. Hindawi Publishing Corporation, 2022, 1-9. https://doi.org/10.1155/2022/2839834
License
Copyright (c) 2024 Benediktus Rolando
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Downloads
How to Cite
