Artificial Intelligence in Marketing
|

How AI can be used for marketing and it’s impact on the landscape.

AI has made headlines for its potential to transform marketing and advertising activities. It is believed that by end of 2023, more than 50% of companies will want to test AI in one or the other business verticals. With business and technology rapidly evolving, there is a need for marketing strategies to adapt to meet the needs of the digital age.

Advertisers are always looking for new ways to promote their products and services. Catchy slogans on repeat mode aren’t always the right way to attract users. To build campaigns to drive efficient ROI, it is essential to carefully consider where the ad is placed, who has viewed it, what action they have taken, how to identify the lookalike audience, and how to re-engage with the users.

Let’s have a quick look at applications of AI in the advertising industry: 

Case1: The Campbell Soup Co. x IBM’s Watson cognitive computing system and data to recommend recipes based on consumers’ individual preferences tailored to each consumer’s particular location, culinary preferences, and the weather in their area (Source: WARC.com) 

Case2: Harley – Davidson NYC x Albert.ai, since using Albert, the client has seen a rise in website traffic by 566%, and in-store sales tripled within the first two months (Source:Albert.ai/resources) 

AI plays a distinct role in different ad marketing areas such as media planning, buying, and selling:

Media planning sometimes can be a laborious task as it involves developing a comprehensive plan that outlines the media channels, platforms, and tactics to be used to achieve the objectives. The traditional method involves researching data providers/ inventory reports, understanding the market and digital presence using third-party tools, checking with clients about what activities they have implemented, etc.

Media planners now can rely on AI to do the heavy lifting. 

Example 1: What should be the target audience for Lazada in Singapore ( Ref to the below image for more details, Source: Chat GPT)

   (Img1 :  TA for Lazada in Singapore )

Though AI is helping to bridge the gaps in creating media plans and client briefs, from a media buying standpoint AI still has a long way to go. Many vendors and agency partners are still in the trial and error phase determining what works and doesn’t for them. The following are essential points that media traders should keep in mind: 

  • It is a known fact that machines are simply better and faster when it comes to data gathering, insight, and analysis, optimizations, but to what extent can a trader be dependent on an automation algorithm?
  • They should be mindful of the pre-set logic which helps to create the dashboard.
  • Media traders can rely on automation but not set and forget it
  • The complexity of what is being accomplished is sometimes difficult to explain to marketers

Note: Please note that AI tools show what are the ideal segments which match the criteria, however it is not necessary that those segments are available to target on the platforms. 

Marketers and media traders can consider:

  • Platforms such as the Trade Desk and Google DV360 as they harness the power of AI to streamline programmatic ad placement and targeting 
  • Use Albert.ai, which uses AI algorithms to analyze campaign performance, allocate budgets, etc 
  • Use Phrases to create engaging and persuasive ad copy
  • Adobe Fireflies – a generative AI for creatives. 

It bodes well to remember that AI is reliable only when there’s human intervention (Link)

With many marketing software solutions highlighting the use of AI from campaign setup to reporting, should these be considered upgrades to current media buying tactics or alternatives?

We believe that using AI intelligence in media buying is increasing rapidly. Products like albert.ai, IBM Watson cognitive tech, Adago API integration models, are using the latest advancements in machine learning to optimize campaigns in real time. The rise of AI advertising can be attributed to its capability to personalize and customize ads based on the unique interests and intentions of individual customers. By harnessing the power of artificial intelligence, advertisers can create targeted campaigns that resonate with each customer on a more personal level, resulting in increased relevance and effectiveness.


Similar Posts

Leave a Reply