Over the past 12 months, we have started to see benefits of artificial intelligence (AI) come to fruition. Brands across the globe have finally started to uncover how best to leverage the technology by deriving insights to support strategic business initiatives. But, AI is not just for the Googles and Telstras of this world. According to the Warc Toolkit 2017 report produced in association with Deloitte Digital, 58 percent of global CMOs believe that, within the next five years, companies will need to compete in the AI space to succeed.
The evolution of big data and advanced analytics solutions has made it possible for marketers to build a clearer picture of their target audiences than ever before; and in this hotbed of advancement lies AI marketing (AIM).
AIM represents a way for marketers to bridge the divide between data science and marketing campaign execution. With the increasing amount of information big data provides, AIM is designed to help marketers sift through that data in shorter time frames, finding valuable insights about their consumers that can improve marketing campaigns and boost ROI.
There are a couple of key elements that make AIM as powerful as it is today.
Firstly it’s big data, or rather a marketer’s ability to aggregate and segment large sets of data, with minimal manual work. Marketing teams can then use this data to ensure the right message is being delivered to the right person at the right time, via the right channel.
Secondly, machine learning. Machine learning platforms play a vital role in making sense of the huge data repositories at a marketer’s disposal. Machine learning can help identify trends or common occurrences and effectively predict common insights, responses, and reactions to campaigns. This enables marketers to better understand the root cause and likelihood of certain outcomes.
AIM represents a way for marketers to bridge the divide between data science and marketing campaign execution
Putting this into practice
With AIM expected to dominate the industry by mid-2017, understanding its potential is key to driving adoption.
As advanced technology solutions grow smarter, it is important to remember that audiences are becoming smarter as well. Thanks to social media and rapid-fire search engines (thank you Google!), people find what they are looking for faster than ever before. AI and big data solutions can actually analyse these search patterns and help marketers identify key areas where they should focus their efforts.
2. Smarter Ads
Marketers are already dipping their toes into smarter ads, with account-based marketing solutions, but AI helps teams take this a layer further for truly insightful analysis. With a new abundance of data available, online ads can become smarter and more effective. AI solutions can dig deep into keyword searches, social profiles, and other online data for human-level outcomes.
3. Refined Content Delivery
With AI, marketers can take data and targeting to a whole new level. Audience analytics can go past the typical demographics level, to understand people on an individual basis. Now, marketers can use AI to both identify potential clients or buyers, and deliver the ideal content that’s most relevant to them. With big data, machine learning, and AI combined, there is little a savvy marketer can’t achieve.
4. Relying on Bots
Customer service and retention is another area where AI will play a huge role in the future. Soon, chat functions and other direct-to-consumer engagement avenues will be run by AI bots. Many companies can save employee time and expenditures with these tactics. AI bots also have access to entire internet’s worth of data, information, and search histories, making them much more efficient than their human counterparts.
5. Continued Learning
Not only can AI be used to uncover once-hidden insights, the AI itself can actually be taught. AI can learn to incorporate previously uncovered insights into new campaigns, optimising outreach to target only the most relevant users. Over time, these AI solutions will become even more intelligent, effectively eliminating waste, greatly increasing conversions, and promoting real-time decision-making.
Ready or not, AI is here and will be a big player in marketing over the coming years. Marketers must embrace the benefits AI can provide or risk missing out on vital consumer insights and falling behind competitors. At the same time, marketers must use the data and insights available to continuously look for new and creative ways to make this technology work to their and their customers’ benefit.