The problem with digital marketing in the pre-artificial intelligence/machine learning era is that often, advertisers have had to take a “scattershot” approach with their strategies, spending thousands on digital campaigns that they can’t be entirely sure have significant impact on their clients’ business performance.
According to Google’s Marvin Chow, who has written a series of blog posts for the company’s “Thinking with Google” blog, cutting-edge technologies machine learning and artificial intelligence are the key to unlocking smarter, more targeted marketing that will yield far better results for digital marketers in the near future.
As we are seeing in the news of late, both technologies are undergoing serious development by pretty much every key player in the IT space, and are advancing fast enough to play significant roles in the near-future decisions of organisations of all sizes.
Every major company involved in IT has their own AI and ML divisions, all working furiously to apply them to their portfolios, in order to uncover new and exciting competitive advantages that can be used to improve their products and services, and thus their bottom line.
By analysing all of the data businesses are amassing around their customers’ buying habits and other pertinent information using machine learning, and then applying artificial intelligence to the patterns that emerge to gain further insight, marketing and advertising can be done in far more specific ways and with tangible results.
Thanks to these technologies, businesses will soon be able to target their customers with marketing campaigns that are highly relevant and tailored to the individual, and which suit their buying patterns and needs in ways that are more likely to result in a positive response.
“It will be like having millions of planners in your pocket”, writes Chow. But more importantly, he also says it will achieve “…one of advertising’s most-sought goals”: relevance at scale.
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[Source: Think with Google, Image: CC0]