A new wave of AI technology is revolutionizing marketing strategies and generating a wealth of detailed information about consumers.
Chief marketing officers may develop future strategies based on the transformative impact of artificial intelligence such as emotional AI, influence engineering, and generative AI.
According to a recent report from technology research and consulting firm Gartner, the accelerating fragmentation of digital media poses challenges for advertising marketers. AI can be deployed to help target audiences, measure impact, aid identity resolution, and aid consent and preference. management.
Mike Froggatt, Senior Director Analyst for Gartner’s Marketing Practice, says that up to half of marketers already use some form of AI, based on the company’s analysis.
Marketers can optimize campaigns by using orchestration platforms to guide users through customer journeys or by using natural language processing for things like chatbots, he said.
“Marketers are working on things like identity resolution, consent, and preference management,” he said. “There are AI-driven tools out there that help marketers create and use alternatives.”
Froggatt said every marketer creating a roadmap for deploying AI tools faces unique challenges. For example, a traditional consumer goods (CPG) brand has a large amount of historical data that can be modeled, while a new he D2C or business-to-business (B2B) brand has much smaller data. setting.
“Generative AI can then artificially create segments and content to speak to more niche types of targets in your marketing efforts,” said Froggatt.
Influence Engineering for Manipulating Customer Experience
As influence engineering evolves, we will be able to use AI to better guide our customers to what they want and what they may not be aware they want.
Raj De Datta, CEO and co-founder of Bloomreach, an open source web content management company, said: “As a consumer, think about how frustrating many digital experiences are even today. It even extends to the number of products you sift through to find one.
“AI has the ability to simplify your digital life, taking you on a journey that is relevant to you as a consumer and personalized to your tastes,” he added. “From a digital marketing perspective, simplifying that journey and ultimately making it more enjoyable not only delights your customers, but also adds real business value.”
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The virtuous cycle of digital marketing
Caroline Carruthers, CEO of business consulting firm Carruthers and Jackson, says CMOs see the benefits of using AI, and the key to successfully implementing these tools is that the use of data and AI in marketing creates a “virtuous cycle.” It is to confirm that it is.
“Data and AI inform us about our customers’ wants, their needs, and the moments that we can influence them – anticipating their behavior,” she explained. “Then I need to be able to test: ‘If I did X, Y, Z, did what I wanted happen?'”
The goal is to create enough circles of knowledge to get consumers to do what you want them to do or understand what they need to do. CMOs need to constantly strengthen their knowledge base on how they can improve, she said.
She pointed out that even the most sophisticated AI tools and techniques won’t help much if they can’t provide the right data in the first place.
“If the CMO is in an organization that already has a Chief Digital Officer or Director of Data, they have to have a very symbiotic relationship with that person. Because we can,” said Carruthers.
The key is not to try to solve every perceived data problem and every data quality problem, but to the minimum amount of data needed to enable the tool to do what it is employed to do. is to focus.
“Pursue the small things you can solve today, the decisions you can make today,” she said. “Don’t try to use her AI to solve world peace, solve something that will make you climb the ladder.”
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AI is the key to the future of marketing
De Datta says the next 18-24 months will undoubtedly pose challenges for marketing teams.
“They are facing rising customer acquisition costs, a weak economy, tight budgets and more, and the ripple effects of these challenges could be felt well into 2022 and beyond.”
As such, marketers become much more focused on making acquisition efforts more targeted and effective and prioritizing retention efforts.
From De Datta’s perspective, AI can help marketers achieve just that.
“Predict which customers are most likely to churn, understand the best time to send campaigns, deliver personalized content to high-value segments of customers, or countless other AI use cases in marketing. This type of technology helps marketers, even when it matters most, to have a measurable impact on their business.”
The importance of technology is determined by industry and organizational priorities, he added.
“For many companies, I think AI for marketing will probably feel more accessible and measurable than the emotional and generative AI that exists today,” he said. “AI for marketing also provides tremendous opportunities to level up and scale existing efforts. It is even more valuable because it is
Combining AI with market mix modeling or campaign planning can help marketers find pockets of insight into where their customers are, Froggatt said.
“What I think is becoming more tangible is broader tactics, because these technologies allow us to take more input and go through different channels,” he said. “AI can help CMOs find pockets of opportunity in more constrained budget markets.”