IN THIS WEEK'S ARTICLE, WE WILL TALK ABOUT HOW ARTIFICIAL INTELLIGENCE IS HELPING MARKETING STRATEGIES AND DRIVING GROWTH FOR ANY BUSINESS.
Remember the time you were mesmerized by flying time machines in Back to the Future or motion-detecting robots in the Squid game! Future seems to fascinate many but not many tend to realize – The future is now! While most people can relate to robots and flying cars not many know about how Artificial Intelligence (AI) is revolutionizing the ad space. If you feel the same way, worry not, we’ve got you covered!
With the advent of AI, various key industries have changed their business optimization strategies radically. These key industries have adapted to the technology and seem to be benefited from it.
Advertising nonetheless is ushering its way into this new era. With online commercials on the roll, conventional advertising seems to have taken a back seat. Along with ad tech, data has turned into the new advertising gold and is a game-changer for processes and targeting.
The golden question is - How exactly is AI playing a role in advertising?
To understand this better, let’s look at what’s AI all about:
Basically, Artificial intelligence enables computers and machines to mimic the problem-solving and decision-making capabilities of the human mind.
In advertising, artificial intelligence refers to the replication of human intellect in computers, taught to think like humans and emulate their activities depending on data provided to them. They learn from prior experiences and use historical data to make better decisions in the future.
Advertisers may utilise AI to tailor experiences, target the right audience, choose the right thought leaders and influencers, and make faster decisions.
AI in Ad space
Artificial Intelligence is omnipresent in the advertising space. Artificial intelligence (AI) aids decision-making and analyses customer behaviour. It significantly enhances campaigns to perform better, thanks to data on how consumers interact with advertising. When used consistently and to its full potential, AI can understand customers better than they can.
How does AI enable advertising like a pro?
(i) Personalization enhances customer experiences
In advertising, personalization refers to the use of data or consumer insights to improve the relevance of an ad to its intended audience. This can include information like as demographics, interests, purchasing intentions, and behaviour patterns.
Conversational marketing, for example, is a tailored AI solution that may help advertisers make these personal relationships with customers, improve their engagement with their brand, and provide a better shopping experience. In fact, 71% of customers prefer businesses to interact with them in real-time, which is why adopting an AI conversational marketing solution to engage with clients and prospects is becoming more popular. Brands can improve their ROI while also improving customer loyalty and connections by providing personalised experiences.
(ii) More meaningful and impactful advertising decisions
AI is an analytical approach to advertising. AI-powered systems ingest a large quantity of data and information in order to accurately forecast future trends and insights. The wonderful thing about AI is that, like humans, it is constantly improving. It is always learning and adapting in order to make better decisions.
(iii) Better segmentation of audience
AI in advertising can assist businesses in better segmenting audiences and targeting ads while also allowing them to track results. It's no longer enough to focus on a single audience and hope for the best. To get the appropriate ads in front of the right people, companies are utilising contextual and behavioural targeting enabled by AI, to carefully target niche groups.
Advertisers can uncover trends based on audience behaviour and message resonance using machine learning, a type of AI. Understanding your audience is crucial to increasing engagement, which is why irrelevant content is the number one reason why consumers don't engage more frequently.
Proper segmentation and audience targeting result in more relevant advertising, as evident by a recent McKinsey Analytics survey, which indicated that 14% of users used AI for customer segmentation.
With AI at the forefront feels like the future is here.
Now that you know how far AI has come and how far it could go, let’s start at the foundation of your business. Let us help you target the right audience at the right time.
If you want to increase your business potential, please reach out to us at sales@werbex.co.uk
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