The impact of AI is all-pervasive and the field of Marketing is no stranger to that, with the introduction of AI, the rules of the game have changed immensely. Those who have productively channelized AI into their marketing strategy are ruling the roost. Artificial Intelligence, slowly but steadily has taken over the sphere of advertising, it isn’t limited to only ad creation, but to all the other aspects, be it creative ad creation, testing variations, optimize spending and budget development, audience targeting, data analytics, etc.
Artificial intelligence means the development of brainy tools and devices which are efficient enough to think and react like humans. The term “Artificial Intelligence,” was devised by John McCarthy, he was one of the creators of the technique of AI, which enabled the multiple tasks to be done in a precise manner.
(P.C.- Unsplash, @campaign_creators)
AI has been rightly termed as the next industrial change; people rightly believe that AI is a panacea to solve most of the problems and challenges prevalent on the planet. AI can also help in fixing the problems which could take place in the near future.
The impact of AI has been multifarious on Digital Marketing and Advertising, AI-powered tools are aptly able to read and comprehend text, visualize and identify images, help navigate around obstacles, listen to sounds and understand them, and perceive the outer environment for e.g. Smart Compose feature of Gmail and Google Docs is a good example of how AI uses to read our text and hence suggest relevant words before typing further; use of AI by FaceBook to suggest whom to tag in a picture or self-driving cars by Tesla or Siri, which uses AI to interpret and react as per our voice command.
Why AI is a natural fit for advertising, it is so because with the availability of right data, AI-enabled ad tools help in identifying and detecting patterns of scale in the requisite advertising data, as well as, predict what changes can be initiated in the existing campaigns that will help improve performance against a set specific KPI. All these actions can happen in a short-time frame of seconds, rather than stretching it over days and it is unlike what it might take a human to analyze, test, and implement the changes across various campaigns.
Advertising is a costly affair, especially if the product or service, in question, doesn’t yield an immediate return. AI tools for advertising have the ability to enhance the return on ad spend (revenue) and simultaneously lessen the amount of money spent on unproductive staff hours and ineffective ad budgeting.
Some areas where AI shall have undeniable impact:
1. Anticipative marketing- Anticipative marketing entails predictive success for advertising, AI can help marketers in predicting organization’s future precisely. Predictive analytics implies the use of data mining, machine learning, and combined use of AI based tools to analyze past data to predict future. For instance, when a user searches on the web every time, AI based tools help gather the details linked to user’s online habits and thereafter, analyzes that data, this can be mostly seen when we land on a totally un-related webpage after searching for something totally else and see those exact ads on the other webpage. This helps in configuring humongous information, like knowing the frequency and brand name preferences of the user.
AI helps in demarcating the audience as per their choices and preferences. AI based tools help the businesses in gaining clarity to understand customer preferences, especially those the business wants to target. Predictive analytics aids marketers to plan and implement their production plans systematically, more-so as it is based on demand and supply forecast. AI helps in making crucial marketing and advertising decisions and should be used to the hilt and we at Zivanta Analytics can help you do that precisely.
2. Creation of advertisements – AI-powered tools which are present in the market can create partial or comprehensive ads for your organization, based on your target audience. Some of the social media ad platforms, already provide this feature, they use intelligence based automation to suggest ads which shall be run by your firm to facilitate the links you shall be promoting. There are some other tools which employ intelligence-based algorithms to create ads for your target audience. These systems employ 2 most in-demand and powerful AI powered tools, which are natural language generation and natural language processing they enable writing and creating ad copies for you that perform better than those created and written by humans, that too in lesser time, scale and monetary cost.
3. Optimizing cost and performance – AI based tools are key in optimizing advertisement performance. Algorithms generated by machine learning (ML) are employed as practically available solutions to determine and track as to how ads are performing across various online platforms and resultantly offer targeted recommendations to improve performance and generate the targeted result. Many a times, these platforms employ AI to smartly automate actions that the organizations should take into consideration based on industry specific best practices, thus saving time and cost and enhancing efficiency. Many a times, certain performance related issues might be highlighted as a due process, which firms won’t be even aware of.
To save financial costs, which plays a huge role in marketing function of any organization, there exist some platforms which help in automatic money allocation, targeting the audience and across all channels, this enables the firms to focus on higher revenue generation strategic tasks, rather than wasting man-power on guess-work and unnecessary repetitive tasks.
4. A/B testing – A/B testing is bucket testing or split screening. A/B testing helps in creating strategy by splitting and comparing two different versions of same website to help identify consumer preference. This helps in testing, analyzing and understanding, which website variable of your site can help generate new leads and/or conversions. Artificial or synthetic intelligence-based tools help analyzing a bouquet of theories at once and most importantly enhance results way quicker and more efficiently than humans. AI has immensely helped to improve the effectiveness of Conversion rate.
5. Voice – Search – With the increasing rate in the usage of voice based search tools, this form of technology has gained massive market in the recent years, be it Amazon’s Alexa or Apple’s Siri, the use of this technology has become all pervasive. Voice search enables a quicker and efficient way to search for information. Voice search has already impacted future marketing, especially SEO related decisions, thus, making it imperative for online marketers to sync and optimize their content with Voice pleasant keywords as well as optimizing the website for local search by using targeted keywords and phrases. It is a prudent idea to establish such websites which enable direct responses to the voice enabled queries, because Voice browsers always look for WH inquiries.
Artificial intelligence has brought sweeping changes across all the sectors; it has not only brought challenges but also driven up opportunities of achieving targets with a precision. Artificial intelligence aids digital marketers to make analyzed choices for much effective and efficient campaign results. Therefore, to stay in the game, it is essential to productively channelize the interpreted data results and target the audience in an effective and planned manner. This is where Zivanta Analytics can help you gain strides with our expert team to aid you in every step you take.