Let’s explore three of the more promising applications of these smart technologies and what they can do for marketers in any space or industry.
One important way AI-powered platforms are impacting modern marketing is through the use of machine learning to predict a user’s buying behavior. Through AI and machine learning, we can predict if a user is, or is not, going to convert. From there, it is simple to make better-informed decisions, including when to show an ad, where to show it and what the exact message should be to gain non-converting users.
Depending on the vertical, there are a number of ways to get this done. One of the more common is to leverage your CRM. Looking at users’ previous purchase history is a spot-on indicator if they are likely to convert or not. With that said, keep in mind that other factors including time of day, location, device type, operating system, etc. can also affect buying behavior.
Year after year, the process of creating engaging content is reported as one of marketers’ top challenges. However, with AI technology, we now have access to a magnitude of data that can help guide ideation and creation processes, giving us ability to make every piece of content highly targeted.
To create personalized content based on individual preferences, AI considers a wide range of factors from sentiment to a full-blown analysis of engagement. This is important, as consumers are increasingly communicating their desire for better user experiences and customized offers tailored to their preferences. By using this technology, we can track our customer’s behaviors and use relevant trends to guide content strategies through multiple approaches, including customized content. Now, the content customers receive is specific to what they’re interested in and not a one-size-fits-all email or ad.
The third promising application of AI is in programmatic-based advertising, which helps improve efficiency and accuracy. Through the use of AI, we can significantly improve real-time bidding techniques to better understand when and how much we need to bid on a particular impression. A constant abundance of data is available, making it increasingly difficult for a person to make sense of all the moving pieces when bidding and ultimately measuring the impact accurately. AI, predictive analytics and machine learnings in turn help to understand the real value of digital media while also automating and speeding up the process.