If consumer data is honey, AI is the queen bee.
AI is evolving how Marketing operates on a massive scale. Artificial Intelligence will undoubtedly be central to the personalized marketing approach of the future. Want to be on top of your game? Marketing giants, like Coca-Cola, know precisely how to get ahead of their competitors. Simply put, the more relevant and tailored-fit a marketing campaign is towards its target audience, the more effective it will be. A thorough understanding of consumer behaviors and their insights will create the most powerful and impactful campaigns.
When does AI play its part?
Any marketer or creative director will agree that there can never be too much data. The desire and need for consumer insight is so essential to unlocking the psychology of consumer purchase behaviors that traditional methods of data collection and consumer analysis aren’t enough anymore. Focus Group Discussions, A/B testing, and other sophisticated methods of collecting consumer insights are valuable but are too limited and manual in today’s fast-paced environment. The power of AI lies in its ability to crunch a vast pool of data and create a personalized message to each one. Every day, as people are commenting and messaging through social media or only going on with their lives, they voice out what they need, want, prefer, and expect from B2C and B2B companies. AI is what marketers need to rapidly acquire these data and respond to these interactions in real-time. AI can manipulate the complexities of algorithms to scale the large volume of data to understand the customer. Traits and personal experiences become automatically quantifiable, and target demographics show more specific interests and reveal a whole new level of expressed behaviors. “It can automate the process of targeting the right content to the right person and at the right time, based on numerous variables, including contextual data, behavior, demographics, and expressed interests. (Media Update, 2020).”
Will AI replace marketers?
The rise of technology has also brought numerous conspiracy theories about AI replacing and dominating human responsibilities. Initially, marketers fear that AI will replace their roles as machine learning become more accessible and rampant among companies. AI has been around for more than a decade ago, as marketers use Google and Facebook to get the right ads to the right people. AI has been prevalent in both personal and professional lives, from locating the best travel route to powerfully predicting election results. Contrary to the pre-conceived fear, AI is simply a powerful tool that helps people make better and more informed personal and business decisions. Strategic-making and decision-making primarily still come from humans. AI is there to automate the typical robotic and tedious tasks for marketers to better focus on strategy building. It does not necessarily take away roles; it instead shifts people’s focus on more important ones to produce more quality output.
AI opens many opportunities to evolve the way professionals do marketing. Marketers are encouraged to revisit old ways of building their campaigns and re-test variables with intelligent technology. In this era of AI, marketers can reach out to untapped channels, discover new leads, and ultimately revolutionize their approaches towards their target market. AI is indeed, the key to business transformation.
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