- Contest Factory
- March 23, 2019
Digital marketing technology has revolutionized the business world quickly in the past 5 years to help create new opportunities. If your business hasn’t yet moved toward embracing digital marketing, you might end up left behind.
The basic principles of marketing, such as product messaging and placement to your target market, have not changed in the digital world. What has changed is the delivery method of your message: Artificial Intelligence. One of the most innovative technologies of our time, Artificial Intelligence (AI) has already become a part of our daily lives in the form of Siri and Alexa. When used in B2B businesses, AI is transforming the way people interact with information, brands, and services.
According to Blueshift, 28% of all marketers currently use AI for product recommendations and 26% for campaign optimization. Many marketers expect AI to continue this rapid increase in the near future. Another 43% of marketers currently use AI for audience expansion, and 39% for audience targeting.
According to Forrester’s Global State of Artificial Intelligence, 57% of businesses currently use AI to improve their customer experience and growth. One may wonder exactly how AI helps businesses achieve their growth targets? One major factor is through the personalization of content, which is seen in the hyper-specific news articles and ads tailored just for you and your interests. 64% of marketers believe that by 2020, AI will be delivering real-time personalized advertising and optimized messaging right to your inboxes.
2019 is full of potential for AI technology. The Marketing Artificial Intelligence Institute recently asked over 200 marketers “Assuming AI technology could be applied, how valuable would it be for your team to intelligently automate each use case?” What they found was not rocket science, but simply what every marketer asks of their marketing campaigns:
• Analyze existing online content for gaps and opportunities
• Choose keywords and topics for content optimization
• Build buyer personas, goals, behavior, and intent
• Create data-driven content
• Discover insights into top-performing campaigns and content
• ROI by channel, campaign, and overall
• Adapt audience targeting on behavior
• Optimize website content for search engines
• Recommend targeted content to users in real-time
• Assess and evolve Marcom related activities (i.e.: landing pages, email, etc…)
Marketers can leverage AI to better understand their customers’ path toward a purchase by answering these questions:
• Which marketing channels drive revenue and which do not?
• What types of content a customer retains?
• At what stage of the customer journey does our content perform the best?
• Where in the buying funnel are customers dropping out?
Just as marketing has its famous 5 Ps (product, price, placement, people and promotion), so does AI. Paul Roetzer, CEO of 20/20 PR, has defined the 5 Ps of AI;
1. Planning: Predicting customer behavior, defining strategies, prioritizing activities, and determining how to allocate your marketing resources.
2. Production: Creating, curating, and optimizing content.
• Blog posts
• Landing pages
• Social media posts
• Email subject lines
• Converting voice to text
• Creating nurture or sales emails
3. Personalization: Personalizing consumer experiences.
• Automated emails & adaptive send times
• Content, offers, and web experiences
• Product recommendations
4. Promotion: Managing cross-device promotions, cross-channel promotions that drive engagement, and actions.
• Audience targeting
• Social publishing
• Digital paid media management
– Adjusting digital spend in real-time by channel
– Ability to test headlines, landing pages, images, and creative
– Social posts scheduling
– Improved targeting and retargeting
5. Performance: Turning data into intelligence to optimize performance.
• Lead scoring
• Forecasting performance
• Discovering insights
Remember, parameters have to be built into the machine in order for AI to work. AI does not naturally understand; a human has to create templates that adapt to each individual. We have to train these attributes into the machine. However, with proper programming AI will help businesses succeed in understanding their customers; how to acquire them, and how to retain them.
Could AI become too good at profiling your buyers and their habits? Only time will tell…