According to market research firm, TechNavio, The market share of artificial intelligence (AI) technology is expected to increase by USD 76.44 billion from 2020 to 2025. AI is revolutionizing the way the world does business, making it imperative for companies in the digital space to keep up.
Over the last 66 years, a lot has changed since AI was first conceptualized. Innovations to AI technology are rapidly advancing the marketing industry by allowing marketers to utilize and process more consumer data faster than ever before to make custom advertising experiences. Many of you reading this post now may have experienced an advertisement that showed you exactly what you were looking for, or a product you’ve seen before on Facebook, Instagram, or Twitter. This is AI at work!
So, what does the utilization of AI help marketers achieve, and how can leveraging AI lead your businesses’ marketing to success?
Increasing The Return On Investment Of Campaigns
Marketers can use AI to their advantage in order to extract valuable information from datasets and implement these insights in real-time. AI allows for faster decision-making on various projects such as fund allocation and customer engagements. This faster decision making leads to more successful campaigns because it utilizes the processing power of AI to place advertisements where customers will engage with them most.
Faster Decision-Making Speed
As stated in the section above, utilizing AI allows marketers to make decisions about various campaigns faster, but how? The answer is simple. AI is able to conduct data analysis faster than humans can. Artificial intelligence utilizes machine learning to make conclusions rapidly, based on campaign and customer data. As a result, marketers can spend more time on strategy development, which can be used to inform AI-based campaigns. AI allows marketers to make better choices regarding campaigns while they are running, rather than waiting until the end to make decisions regarding improvements.
Measuring Marketing Effectiveness More Effectively
It is often difficult for organizations to stay on top of the amount of data generated by a digital campaign, this makes it difficult to trace results back to their specific campaigns. Utilizing AI-powered software like a dashboard, marketers can see more holistically what is working across campaigns and channels so that results can be attributed to specific advertisements or posts and budgets can then be allocated accordingly.
Real-Time Personalization And Better Customer Relationships
Delivering customized messages to consumers at key points in their lives can be made easier with AI. The use of AI in regard to marketing can also aid in identifying at-risk customers and connect them with information intended to encourage re-engagement with the brand or content.
By: Emily Sammons
Sammis|Ochoa is San Antonio’s fastest-growing public relations and digital marketing agency. It is the 2020 recipient of the TinyAward for Happiest Employees in Public Relations. It also ranks as one of San Antonio’s best PR firms by Design Rush. The firm is headquartered in San Antonio and serves clients in Austin, Houston and San Antonio. Email firstname.lastname@example.org or call 210.390.4284 to amp up your PR game!