Artificial intelligence has made a big impact in digital marketing.
Artificial intelligence is a hot topic in digital marketing. AI-powered ads are resulting in significant conversion increases and cost reductions for companies testing them.
Martech AI, until recently, was out-of-reach for many companies. Like any other new technology, there were many rumors about it. AI may be smart and quick, but it will not put anyone out of work in the near future. It can improve your productivity and make you more money.
AI Marketing Benefits and Realities
AI is made up of algorithms and data. This is similar to a spreadsheet that can do complex calculations on thousands of numbers. However, there are three main differences: the algorithms are much more complicated, the data more vast, and AI can learn how to get better.
AI is able to improve by using the three cognitive abilities of learning, reasoning, and self-correction.
It learns with each usage how to sort better data and create rules for turning data into useful information.
AI uses reasoning in order to determine the best algorithms to use and to achieve useful results.
AI can self-correct by improving the accuracy of results.
AI can do all this in lightning speed, making it perfect for work that is data-intensive and requires lots of information. For example, sorting thousands of customer preferences to find the most effective ad design. You could perform this task on your own using a spreadsheet but you would need months before you got the same results as AI.
How can I automate my marketing with AI?
AI can be a very powerful tool to test ads. However, it does not work as well when left unsupervised. It is so quick that even the slightest error can have disastrous results. You couldn’t have used AI until recently without a team of data analysts who could track its progress, and adjust the model as needed.
AI can be integrated into marketing campaigns, no matter what budget you have.
AI: A dangerous misconception
AI works just like other software. This is a common mistake. Many apps mimic AI. For example, chatbots are pre-programmed to respond to keyword requests with canned answers. They can be configured, installed and left running on their own without any problems.
A true AI technology is completely different. Over time, it adapts itself to the new data and re-teaches itself. It can therefore learn unintended biases, drift from its original design and give you inaccurate results. It is therefore important to monitor it. You’ll need to have someone on site who is qualified to get it back in line if it starts to wander.
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AI use case: Audience models
Anybody who has done A/B testing for ads knows how a small change in the ad can have a dramatic impact on its performance. Testing each variant takes money and time, but the possibilities are virtually endless.
You can test all this offstage, at digital speed. The data scientists will feed existing audience reaction data into the AI model. After the AI learns from this data, it can be used to predict future audience responses to an ad. AI allows you to run multiple tests within seconds, rather than waiting for a whole day.
It doesn’t necessarily mean that you should stop doing A/B tests, but you can use any extra testing to fine-tune a good ad. AI has done all the heavy lifting and sculpting.
What is Martech AI and how do I get started?
It is important to establish the position of any marketing tool in your overall marketing strategy before implementing it. There is a clear distinction among companies who are embracing AI and those that haven’t. Around 70% excel in the rollouts of companies who developed strategies, while only 35% are successful.
Ask your marketing team what their biggest pain points are. When it comes to A/B testing:
What is the time commitment of your team members?
The test is conducted for a certain number of days, or even weeks.
How much will this test cost in advertising?
* How much conversion gain can you expect between an initial ad, and one that has been fully optimized?
You can then determine if AI is worth your time and effort.
Get Your Marketing Team to Buy In
The majority of digital marketing teams are innovators. AI may not be embraced by all digital marketing teams, especially if they fear that AI could drastically alter operations and result in job losses.
Present AI not as a cost-saving tool, but rather an opportunity for your team to be more efficient and gain or maintain a competitive edge. By integrating AI with a digital consultancy, you can give your team more time to work on other projects and explore new possibilities.
Make AI work for you
AI has been out of reach until recently for the majority of companies. The models were expensive to access and monthly maintenance fees for updating and monitoring them. You can maximize your effort by utilizing AI technology.
