By Holly Fong, VP Marketing at Launch Labs. Launch Labs were finalists in the ‘Best AI Integration‘ and ‘Best AI-powered Workflow Solution‘ categories at The 2024 A.I. Awards. Earlier this year they were also finalists in three categories at The 2024 SaaS Awards – in the ‘Best SaaS Product with 1,000+ Licensed Users‘, ‘Best SaaS Newcomer‘ and ‘Best SaaS Product for Digital Marketing‘ categories.

AI is changing everything for small-to-medium businesses.

From how consumers search for products and services to how organizations manage customer relationships, almost no part of the sales and marketing process has stayed the same. The data game is changing and SMBs have no choice but to adapt. 

Ongoing success for SMBs depends heavily on the tools they use to gather and store customer data and the partners they ally with along the way. Third-party data and siloed systems just won’t cut it anymore. SMBs need seamless data aggregation systems to collect and use first party data while safeguarding privacy and security. That’s the only way to win the data management game and keep their businesses thriving in the age of AI.

SMBs in an AI-Altered World

AI had been quietly gaining momentum for years before the introduction of ChatGPT thrust this nascent technology into the public eye. Suddenly, it seemed that everything was AI-enhanced, from smartphones to tooth brushes to rap music. Business marketing and sales did not want to be left behind.

The words “AI enhanced” or “AI powered” became the latest marketing buzzwords, even in industries that hadn’t really considered the technology up to now.

Massive corporations like Amazon and Autonation, rushed to invest (or increase their investment) in bespoke data management systems powered by AI. Many had the advantage of large budgets and extensive resources that allowed them to quickly build or enhance already integrated data collection and management systems. 

Meanwhile, SMBs were doubly challenged by smaller budgets and more fragmented systems. To save money and resources, many SMBs had been working with a pieced together set of data collection and storage tools. Some of these remained unintegrated, leaving data isolated in silos based on how and where it had been collected. 

Now, the move toward AI everything rewards big data sets and integrated systems. AI works best when it has plenty of data to pull from. What SMBs need to stay competitive is a scalable and affordable solution that allows them to aggregate data and store it appropriately. Many are re-examining their marketing tools and partners to find the ones that can best help them succeed.

How AI Benefits SMBs

Even as AI changes the game, it may also be leveling the playing field for SMBs. When used strategically, AI can empower small teams to achieve big results. It streamlines processes and automates otherwise tedious tasks. A well-designed AI data aggregation system can…

1. Improve the overall user experience
2. Customize offers to maximize conversions
3. Automate follow-up
4. Maintain data integrity 
5. Comply with privacy and security guidelines
6. Free marketers and sales professionals to focus on customers

… all without demanding anything from your small but mighty sales and marketing teams. The result is increased lead generation, higher conversion rates, and happier customers. Affordable and scalable solutions like Ignite by Launch Labs help SMBs meet their sales and marketing goals despite smaller teams and budgets. Our users report that they 10x their ROI with a 20% increase in leads and a 40% conversion rate. 

What SMBs Can Do With AI

Here’s an example of how AI can support SMBs based using Ignite as an example. When a user lands on your website, Ignite will:

1. Get consent from visitors to collect and store their data
2. Validate and clean data, eliminating or merging duplicates
3. Analyze customer behavior in real-time to identify patterns
4. Serve targeted content or offers in the form of pop-ups, inline ads or other content
5. Dynamically adjust offer based on shopping behavior
6. Deliver useful answers in response to customer queries entered into chat bots
7. Take the conversation offline by scheduling follow-ups and moving the potential customer further down the funnel

The first party data Ignite has collected can help you continue to market to customers via digital ads, TV, direct mail, and more. You can also use this verified data to create modeled audiences that accurately match the real people who have already chosen to shop with you.  By automating and streamlining the process, AI helps SMBs thrive.

The Game is Changing. Win With (Artificial) Intelligence

Ultimately, SMBs benefit when they adapt to the new AI-empowered environment. The right AI solutions can level the playing field by automating tedious tasks and unveiling key customer behavior insights. The SMBs that thrive and win in this new era will be those that choose tools and partners thoughtfully for maximum results.