Evertrack will show how to adopt artificial intelligence in marketing strategy.
Artificial intelligence is not just a buzzword. AI is going around computer science, and at the same time, AI lays great emphasis on creating intelligent machines that work and react like a human.
Constellation Research states that businesses across all the sectors are going to spend more than $100 billion per year on AI, which leads to consistent improvement of technologies. According to Gartner, by 2020 85% of customers will manage their relationships between enterprises without human involved.
Marketing industry understands all the changes and builds the data strategy relying on AI. Nowadays AI technology can boost business productivity by up to 40%. Imagine the changes after a few years.
As per statistics, AI has big perspectives for making marketing more intelligent, effective, and convenient. Be sure that in the near future AI will evolve from “it would be great to have” to “must have”.
AI is a great way to understand the huge amount of data, both structured and unstructured. They are generated from an explosion of digital touchpoints to taking actionable ideas at speed. It’s obvious that the human will never be able to reproduce required by users information that is now demanded (it takes a lot of time to search and sort the information). Actually, the speed and ability to process the information quickly are the super skills of AI.
Preciosity of AI technologies is already more progressive and faster than the ability of the most markets. That is why companies that are looking to adopt data-centric information for being more effective in the era of digital marketing.
Let’s start with some examples of how AI can help make marketing more effective.
Using AI in Marketing
Clever marketers are trying to develop, build the partnership, and integrate AI into their tech stacks to improve their work and results. Smartinsights
made a research and came to the conclusion that more than 55% of the companies are actively integrating AI into their marketing (pretty huge amount). AI is used in ad targeting and customer segmentation. Let’s find out more possibilities in store. They are:
- Chatbots use all the customer data which are available to them, chat with users, answer the questions, and consult the customers who want to make a purchase. For example, a Kik bot of Sephora
makes quizzes for customers about their preferences in makeup and after launches the retargeting that follows up the particular customers with the information about a specific product.
- AI allowed improving image search. A customer can upload pictures of products, and find relevant shopping ideas. AI contributed to the creation of auxiliary reality. With the help of the app in your device, you can change the picture, decorate your house or room, and conduct experiments.
company created a mobile visual search engine app. It works simply: you take a picture of something in the physical world, load into the app and get the information about it. For example, you saw a poster of a movie and you were interested in it. You just snap a photo and CamFind will show all the information about the movie (views, interesting facts, and other info).
Apple’s ARKit together with IKEA
launched the AR program that helps to make a decision in some design questions (furniture arrangement, etc.) You can recreate a few items in 3D and place them somewhere in your apartment; you’ll see on your screen how it will look.
- Personalized training programs, even nutrition planning can be created with the help of AI. As you know, it collects all the available data about the user and analyzes its lifestyle. As an example, UnderArmour and IBM Watson created the app that helps monitor the health and do fitness. That’s right, they created a personal health consultant
on your phone. The app coaches the sleeping time, day activity, nutrition, and fitness.
- Advanced marketers use the AI to analyze users’ mood or sentiments. This type of data collection helps to build an understanding of how to choose the best time to offer products or services to a user. For example, IBM together with MediaMath
actively uses programmatic media buys to develop an AI-backed infrastructure between brands and consumers.
How to put AI in practice
There are three most popular key areas that will help you integrate AI in marketing: confirm your consumer data policy, make your data effective or actionable, select the right AI partner. Let’s see these three areas in more detail:
Confirm your customer data policy
Whatever you take, always start by learning rules and rights. It is very important to determine the policy of consumer data processing, transparency, and control. As you know, last May the EU published the General Data Protection Regulation (GDPR)
which covered the topic of personal data processing.
The GDPR forced marketers to opt out of various ways of data collection. Digital marketers can’t apply algorithms to personal data to drive inferences and target ads
, they are banned for such actions. Consumers should be able to interact with marketers and know what their data is used for. Marketers should use customer data in a transparent way in accordance with preferences and expectations they have directly agreed on.
Make your data effective
, a chief marketer and strategy officer in MediaMath splits up three ways of how to make the data actionable:
1. Common identifier
Common identifier is a very important action. Because when the system works perfectly, the client has no question about the quality of service. You may have come across this - for example, when the gym you already visit sends you a new membership offer. That is why many companies prefer to use a non-profit ID consortium like DigiTrust
. The program helps marketers tie together various touchpoints in a scalable way.
2. Data gathering
AI gathers the data and helps marketers extract insights from it. Methods of gathering the information vary by discipline, accents on ensuring accurate and honest collection remains the same. Choosing a data management platform (DMP)
can simplify your data collection process and handle the data from a wide range of sources. With such a platform, marketers can collect, organize, segment, and activate it for marketing in real-time.
3. Data endpoints
Clients often cut across the touchpoints, whether they are paid (TV, online, digital audio ads), owned (stores, websites, call centers, apps), earned (social media, banner ads, PR, blog post, ad blogger). All these touchpoints are closely related to marketing. They can help you build the common identifier and gather data through different platforms and tools. The IBM’s cloud-based Universal Business Exchange
can make all of this.
Select the right AI partners
To achieve best results and speed up the time to real return on investment (ROI), choose a good AI partner whom you can trust. Check out if the partner has a true AI and not just rules-based decisioning that is common among marketers today. Try to choose a partner with a real experience in your business area.
Eventually, check the ethical and philosophical approach to AI of your future partner. AI still is a new field of activity that demands thoughtful actions and decisions
to produce good results in a responsible manner.
AI is not just a fantastic program that will be common in the future, but a must-have innovation to be integrated into your business today.