In an era driven by technology, artificial intelligence has become increasingly important in our lives. It is a software-based technology that combines the best of both worlds “ computer systems and human intelligence. Good examples would be self-driving cars, virtual assistance, and speech recognition. It is through AI that machines can learn from experience, accomplish tasks originally intended for humans, and adjust new inputs. Through it, computers can perform certain tasks by going through data and identifying patterns in them.
How can artificial intelligence help advertisers?
The world of advertising is not exempt when it comes to the use of AI. Some of the most popular examples of AI usage in the industry include the following:
Ad targeting
AI helps marketers analyze your interests, activities, and device used to determine the ads that should be served to you. This is why you’ll see ads related to a product or service that you just searched or found on the website you just visited.
Retargeting
AI is really effective in determining the kind of content that appeals to you based on content that you’ve read or watched before.
Search
Amazed at how Google seems to know exactly what you’re searching for, regardless of your keywords’ spelling or grammar? The search engine giant uses an AI to analyze your spoken or written keywords and to produce search results that are the closest thing to what you’re looking for.
Recommendations
The AI studies and analyzes your online activities and recommend the best content or products to boost conversion rates and encourage you to stay longer at a website.
Programmatic advertising
This is an advertising trick that involves the automation of buying and selling ads. AI technologies rely on algorithms to analyze consumer behavior, the resulting pattern of which is used as the basis for a real-time campaign optimization. Consumers with high chances of converting are targeted.
Propensity modeling
AI is used to analyze data to determine which individual or organization prospects are likely to buy a product or service, which is a valuable information in advertising.
Predictive analysis
AI enables you to predict customer behavior, market trends, and business outcomes.
Speech or text recognition
Speech and chat interfaces have become so popular recently as applied through Amazon Echo being used to order an Uber with speech alone, Facebook Messenger being used to ordering flowers via chat, or Baidu‘s Duer being used to order products using its interface.
Artificial intelligence and traditional marketing
With artificial intelligence in the marketing mix, you can augment your current advertising processes and optimize outcomes. However, human intervention is still needed in the part where you have to develop a data strategy since you have to know what to feed to the machine learning algorithms and what outcomes you want to achieve.
AI can digest huge amounts of data to understand your consumers better. The results can then be used by marketers to build your brand using insights derived from analyzing data. AI allows marketers to work like pros and free up more time to accomplish strategic work. It takes care of targeting, boosting performance, and budget allocation.
It also increases efficiency in targeting and identifying which market segments respond better to your ads, allowing you to pour more budget into those segments while pausing your marketing activities in the less responsive ones.
However, traditional marketing shouldn’t be completely abandoned either. It still has a few advantages over the more modern types of marketing, such as having easy access to local audiences, being familiar makes it easier to understand, having a proven success rate, and being easier to process and recall.
