The Role of Artificial Intelligence and Machine Learning in Marketing and Communications
Evolution of Marketing with Technology
Technological advances have always created new opportunities for how marketers communicate, and story tell. Traditional advertising mediums like television (TV) and Out-Of-Home media (OOH) have been the dominant for a long time. Even till today, marketers fight for every opportunity to increase awareness of their products and services through precious slots on prime-time TV and strategic OOH media placements with supposedly high footfall. However, it can be unanimously agreed that even with high footfall, few people pay attention to OOH medias and when a TV commercial is played, it is usually a cue to switch channels. As such, while ad impressions from traditional advertising mediums are perceived to be lofty and conversion rate continues on a “baffling” downward spiral, it does not help that ad performances are nearly un-trackable with availability of data being sparse and inaccurate.
With the birth of the world wide web (www), online marketing revolutionized the whole concept of marketing and communications as marketers can finally engage directly with consumers. Ad campaigns can now be designed to be sent directly or “appear magically” in front of consumers when they are online. As such, the internet and the pervasive mobile penetration in our lives brought a new level of targeting and availability of data to the fingertips of marketers. However, marketers soon realized that information clutter and ad fatigue are very real problems that distract consumers. Additionally, while there can be lookalike target audiences built, the truth is that majority of the internet users do not have common tastes and preferences — everyone is simply different!
Artificial Intelligence (AI) & Machine Learning (ML) — Knight in Shining Armour
With a growing need to tailor information according to the habits and real time behavior of users to maximize the impact of marketing messages, AI and ML are playing an even more relevant role in marketing.
AI is broadly defined as the study of how to make machines intelligent or capable of solving problems as well as people can. At its core, machine learning is a new way of creating those problem-solving systems and solutions. As such, AI and ML can help marketers to succeed in areas that were previously unmanageable. For example, finding insights from consumer data, which can be helpful in streamlining the process of marketing. Predictive content can also automatically assemble itself in real-time for each impression with in-depth and definite predictive intelligence — this is as close to personalization and relevance at scale that marketers can only dream to have pre-AIML era. Predictive intelligence is automatically carried out by ML in real-time and it does this by observing fine trends in engagement. This also means that the need for A/B testing, and re-learning each time the consumer engages to deliver precision and personalization is no longer required.
New Consumer Journeys, Higher Expectations
AI and ML are expected to fundamentally change consumers’ journey — how people interact with brands and services as the evolution and integration of technology into our world creates new consumer interactions that are simple, instantaneous, and intuitive. Brands will face the pressure of enhanced consumer expectations and those that live up to the challenge will unearth tremendous opportunities.
With platforms having their own goals of reaching the mass, brands on these digital ad platforms have the potential of achieving communication at scale. Combining with real-time customization potential through AI and ML, marketers will soon be able to tailor and serve campaigns to dynamic consumer intent at any one moment. Marketers will be able to consider all the data points collected at the customer level, such as purchase history, browsing history and even locations data. Sooner or later, ad campaigns and consumers’ interactions can be made seamlessly relevant end-to-end.
Conclusion
Ultimately, AI and ML will be part of the sophisticated tools in marketers’ arsenal and the key will be to constantly ask how new ideas can be taken from spark to flame and better the existing levels of creativity. The application of AI and ML is at the tip of the iceberg, yet they are already starting to help solve problems marketers face. The future of integrated marketing is closely associated with AI and ML based marketing — as marketers, are you ready for it?
Disclaimer: This article does not reflect my present nor my past employer’s view, all views above are solely from my own personal standpoint.
