By Anil Solanki
Every day, technology evolves. Over several years, a lot can change, particularly in regards to popular artificial intelligence technologies. The same is true for applications of AI in marketing. Understanding the fundamental concepts underlying applications of AI in marketing solutions can inspire original concepts that can pioneer new fields in a variety of businesses.
Entrepreneurs across the globe are utilising artificial intelligence to improve their business operations with technologically advanced marketing strategies. Artificial intelligence is revolutionising the way we think about marketing across a wide range of businesses, whether it is through the analysis of customer interests and data, the direction of sales decisions, social media campaigns, or other applications.
AI is definitely changing the way we see marketing especially in today’s time. It won’t be a big thing to say if any business is not using AI for digital advertising/marketing, they’re at a competitive disadvantage.
But, why do we need AI in advertising?
If anyone wants to succeed in the brand-new world of contemporary programmatic advertising,
AI is a necessity.
We can now reach consumers across hundreds of digital platforms thanks to the internet and programmatic advertising. Additionally, we are able to target them based on countless demographic and behavioral data points. We can even test tens of thousands of different advertisements to discover which ones get the best response.
AI can assist in automating tasks to increase business productivity. Accenture estimates that the use of AI can increase corporate efficiency by 40%. By doing this, your business can save time and money while concentrating its efforts on giving clients high-quality experiences rather than wasting too much time transferring information between spreadsheets. This technology considerably helps businesses to increase return on investment because it can significantly speed up the execution of marketing efforts, cut costs, and increase efficiency (ROI).
With AI, businesses can:
- Buy and Place Programmatic and Digital Ads
- Help conduct marketing research for target group segmentation which can lead to greater efficiency to improve sales
- Help in predictive marketing analytics and personalisation that can lead to higher conversions by having the clear understanding of the personal expectations of the target group
- Used to analyse consumer interests, world events, and other sources to determine if there will be a rise in dynamic pricing and demand forecasting of a certain product.
- Help you automatically generate content
- Used for language optimisation for email marketing
Advertising and marketing strategies are constantly changing with the changing patterns of the world. Technology is bringing the new paradigm shift in the growth and the relevance of advertising/marketing now more than ever. However, In the end, creativity and innovation will define how AI will function in marketing technologies. Businesses can outcompete other top competitors in the market for years by fusing various technologies together. In order to bring business up to date and stay relevant and competitive in the market, it is at the very least necessary to grasp what is already in use and AI is here to stay.
The author is a brand media expert. Views expressed are personal.