Utilization of Artificial Intelligence in the Digital Marketing of SMEs
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School of Business |
Bachelor's thesis
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Authors
Date
2023
Department
Major/Subject
Mcode
Degree programme
(Mikkeli) Bachelor’s Program in International Business
Language
en
Pages
50
Series
Abstract
Objectives The main objectives of this study were to investigate and determine the most effective methods of utilizing artificial intelligence in the digital marketing of small and medium-sized enterprises, as well as analyze any potential benefits and drawbacks that may be prevalent. Summary The utilization of artificial intelligence in SMEs is becoming increasingly important, as it allows for smaller companies to compete with large, prominent companies with much higher amounts of available resources. To find the most effective implementations of AI in digital marketing strategies, interviews with industry professionals were conducted to record real-world experiences in the field. Conclusions As the digitalization of the modern world continues to grow, it is paramount that companies adapt and tailor their marketing strategies to follow suit. Utilizing AI allows for increased efficiency, cheaper costs, and stronger consumer targeting, which drastically improves business performance. By implementing AI solutions, SMEs can effectively compete with larger enterprises, despite a large disadvantage in budget and resources. Due to this, SMEs should look towards adopting AI in their digital marketing strategies to maximize performance and sustainability, as well as avoiding falling behind competitors.Description
Thesis advisor
Pynnönen, MikkoKeywords
marketing, AI, SME, digitalization