How Artificial Intelligence is Changing the Landscape of Digital Marketing
News provided by: Entrepreneur.com
Artificial Intelligence (AI) is no longer the next big thing, it is now a big thing now in digital marketing. All digital marketing operations are now affected by AI-powered tools. From startups to large firms are opting for AI-powered digital marketing tools to enhance campaign planning & decision making.
AI-based tools are now a flourishing market, with a drastic change in demand. According to most of the digital marketers AI enhancing all the areas where the predictive analysis, decision making & automation efforts required.
How AI is adding value to digital marketer’s life?
Digital marketers are trying hard to leverage AI for strategic planning and campaign decision making. Most of them found AI helpful and enhancing their productivity and reducing their efforts. AI-powered analytics tools provide better insights for campaign management, budget planning, & ROI analysis. AI can gather the insights from a truckload of unstructured and structured data sources in a fraction of sec.
All the human interactions with a business affect the digital marketing strategy and business revenue.
Reportedly, “brands who have recently adopted AI for marketing strategy, predict a 37 percent reduction in costs along with a 39 percent increase in revenue figures on an average by the end of 2020 alone.”
AI-powered Recommendation Engine to Understand the Customers
Artificial intelligence tools help digital marketers to understand customer behavior and make the right recommendations at the right time. A tool with the millions of predefined conditions knows how customers react to a particular situation, ad copy, videos or any other touchpoint. While humans can’t assess the large set of data better than a machine in a limited timeframe.
You can collect the insights on your fingertips with the help of AI. Where to find an audience? how to interact with them? What to send them? How to send them? What is the right time to connect? When to send a follow-up? All these answers lie in the AI-powered digital marketing platforms.
With a smart analysis pattern AI, tools can make better suggestions and help in decision making. A personalized content recommendation to the right audience at the right time guarantees the success of any campaign.
Digital marketers are really getting pushed harder to demonstrate the success of content and campaigns. With AI tools utilization of potential data is very easy and effective.
According to a 2019 study by Forrester and Albert, only 26% of marketers are making use of autonomous AI, while 74% take a more manual approach with assistance from AI.
AI technology evolving every aspect of digital marketing to name a few audience targeting, audience interest analysis, web optimization, smart content writing and recommendation, advanced tracking and reporting and more.
How AI will play major roles in digital marketing solutions:
- Customer data management
- Customer behavior analysis and customer experience analysis
- Predictive analysis
- Trend analysis for campaign planning
- Smart pattern analysis
- Marketing automation
- Real-time data analysis and decision making
- Content marketing
- Voice search technology
- Programmatic advertising
- Native advertising
“AI in digital marketing is poised to reach a global market of USD 21 billion by 2023, growing at a steady Compound Annual Growth Rate (CAGR) of 26%.”
How to prepare for AI-based platforms? How to include them in your digital marketing strategy?
Digital marketing technology platforms are evolving with great pace and it needs some specific set of skills. If you want to opt for smart marketing technology you should start using AI-powered tools from a small scale and increase the limits as you grow. A roadmap is required to stay ahead from the crowd, few tips to prepare for that:
1. Analyze the actual impact of AI on your digital marketing operations – not all the AI tools are helpful for you. You should increase your basic AI knowledge to understand how the tools could make an impact on your current campaigns and reporting areas. You can go for Udemy courses, or YouTube tutorials or Free online courses available.
2. Evaluate different AI software to employ for your digital marketing campaigns – There is a wide range of tools available in the market today for each and every marketing activity. You should evaluate the potential platforms to boost your campaign performance. Go for the demos, product documentation and webinars to know about the tools.
3. Follow the leading company’s case studies – Read the case studies form the organization who already implemented the AI-tools in their digital marketing campaigns and showed significant results.
4. Be creative, be experimental – See how you can incorporate the AI tools and your current campaigns, how you can try something new to run experiments to enhance the campaign performance. Being creative is a human-thing, Leverage the power of it!
5. Go for industry-specific use-cases – To understand the effectiveness of these AI tools, you should explore the industry-specific use-cases. Learn how they implemented the strategy and what was the outcome, how they executed the strategy.
6. Try new tools every day – Take free demos, trials of the tools and explore their potential, leverage your small marketing activities with the help of these tools, once you understand the logic behind it, and outcome rate, you can implement a right digital marketing strategy.
7. Some technical skills required too – AI-based tools require some technical knowledge to integrate with your digital marketing operations. So, be ready or consult with the technical team to provide the necessary support. In-house competency is much needed.
8. Connect with agencies who already built a strategy with AI – Some creative agencies already employed the advanced tools to run the successful digital marketing campaigns. Connect with them, partner with them to gain access to the insights.
AI has a remarkable impact on all the areas of digital marketing and will keep growing in the future. The future of digital marketing is here, the faster you learn the faster you grow. The days are gone when digital marketers run the data and find the insight and other team works on the campaign based on the insights. Things are moving with great pace in digital marketing space. The early adopters will win the game!