Build a Marketing Strategy with AI
In marketing, AI can be used to analyze social media trends to estimate customer segmentation. It can also be used to use predictive analytics to figure out what type of products will be a major focus of the consumer/retailer and help to create campaigns.
AI is also able to analyse where customers go when buying a product and create campaigns that predict what kind of psychology will drive them to buy and learn about products.
Marketing is not all about clever algorithms. It is also about effective implementation of those algorithms and a properly calibrated communications. Furthermore, a special group of artificial intelligence experts are looking at the Internet of Things (IoT) as part of the marketing machine and offering the ability to predict the behaviour of your customers in real time and in real life with offline shops or locations. AI also helps retailers by predicting which brands are most successful to increase brand loyalty.
AI-related technology is developing at a faster pace than a few years ago, so what will companies in the future do? They will use AI-related technology to predict consumer behaviour and use it to develop, promote, and market products. Through AI, retailers will gain valuable insights of their customer’s purchasing behavior and react accordingly.
Why you should invest in AI now
Marketing is a huge business. This is an industry that has created large profits. It has created the innovative, disruptive culture which has allowed businesses to become successful. It has been a smooth and well-made run to date but that’s about to change. It needs to be revolutionized, and that is what Artificial Intelligence is all about.
In the future, Artificial Intelligence will be made available as a platform to retailers and marketers. This will open up new avenues in marketing which we have not even imagined. The roles of marketing professionals in marketing will change, as Artificial Intelligence will offer marketers the ability to predict and then execute marketing plans. You don’t have to worry as AI makes more efficient use of your marketing budget, but it also takes more demand off of your marketing budget. Think of marketing professionals who have created effective and relevant campaigns. Those professionals are not going to need to stay as marketers forever, but will level up with the use of Artificial Intelligence to become technological experts as well.
Is Marketing using Artificial Intelligence the right choice?
As a marketer, you are building a brand.
Your brand is your reputation, which is largely based on the success of the promotions you put out to communicate the brand’s message to a target market.
It is therefore imperative to combine the best marketing strategies with the latest and advanced technologies that are available in the market. You need to manage the efforts, budgets, and changeover time of your communications in the right way, if you are going to succeed.
As a marketing professional, you need to step into the future and see the future. If you don’t, your brand may find itself in a tough position.
The state of marketing
Digital ad content is generated and distributed at a frequency that is staggering, yet most consumers feel overwhelmed. It’s no surprise marketing is viewed as a middlemen in an already highly-competitive business. Indeed, marketing must become part of the foundation of services that businesses provide to consumers.
Translate the information agencies to a retailing experience for consumers. That’s where we’re going. All of the flow of information will become more fluid and machine-readable, as the use of artificial intelligence in a fundamental manner allows marketers to tap into all customer behavior at any point in time with millisecond precision. It is almost impossible for marketers to measure the effectiveness of their ads, given the lack of access to the underlying data that informs that effectiveness. But what’s often unknown about online marketing is the true value of a purchase. Without direct perspective on where consumers are coming from and making a purchase, brands are largely without incentive to engage with them.
For the digital marketers that’s fine, as such a level of engagement provides support for earning ROI by subscribers. But many marketers are beginning to realize that even if data is in the database (as nearly all modern advertising and marketing is), there’s no getting it back into the hands of the consumer. There’s no capacity for any sort of point-to-point distribution of that data. Browsing behavior should be a no-brainer. You are capable of reducing expectations, optimizing for a specific timeline of a viewer’s attention span. But why not take it to the next level?
Yes, you can measure and optimize clicks through an app store. That’s an immense, albeit artificial data-collection tool. But collecting every imaginable detail, app or device, of the consumer interaction? Now that’s just a science project. Until consumers want to engage with brands and digital agencies with information they want to know. Marketing on demand will only work if the consumer wants to engage with brands. Start reading those keywords and click-through rates and see where you stand.
One of the most profound learning experiences of the last decade has been the way in which digital changed audiences’ personal touchpoints, often by bypassing channels or tools that prioritized size or speed. Publishers and marketers won’t adapt to the consumer-driven requirement of Internet discourse, but then again, we all know how that turns out.
Today, people want to be informed, they want a conversation, they want options and flexibility and protection.
Forget to pass along the audio context in TV ads anymore, and people will flip the channel if you don’t offer an option to listen to the call.
Here’s to future insights, digital and native advertising, and competition. We’re just getting started!