Reshaping Digital Marketing
The advanced power of data collection and processing, will revolutionize the future of digital marketing. Growth is likely to be exponential, as social media, websites and IOT devices collect vast volumes of data. According to Statista, ad spend world-wide is estimated at around $649 billion USD.
Despite the global pandemic, this spend will increase dramatically as more organizations deploy AI as part of their advertising strategy. AI allows them to uncover — and sometimes predict — micro trends, reducing waste and improving overall ROI..
The ability of marketers to process this data better will pave the way for super-personalization of marketing messages. The four main ways in which the discipline of digital marketing might evolve are as follows:
Improved Marketing Content
The behaviour of target customers can be analysed by AI tools, allowing marketers to deploy the most effective content swiftly and easily. Optimal results can be secured, without the huge investment in time and resources on tests and surveys.
Cost-effective AI tools mean that AI is accessible to companies of all sizes, even those with small budgets or those with junior teams, and can assist across the content creation process with:
- Writing data-driven blogs that rank well for SEO
- Drafting optimized social media posts that drive engagement
- Personalizing emails and web copy for improved conversions
- Effective keyword research to match user intent
Content can now be generated efficiently and easily. Email content, personalized reports/messages, and social media content can be automated also!
However, one key issue is algorithmic bias, especially important when dealing with sensitive projects such as getting people to seek vaccination for covid 19 and with the right type of information received. Healthcare institutions were able to take advantage of IBM Watson’s language system to finetune campaigns, using real-time data about article engagement to help inform their strategy.
Conversational Marketing: Improved CX with chatbots
Chatbots are evolving and now range from basic customer service to those that can drive sales conversions through fast, real-time conversations. A major benefit of this conversational marketing is the ability to offer effective localized customer service.
This can be delivered in the customer’s chosen language, around the clock, and across different time zones simultaneously. One prime example is Lidl, which developed a wine bot called Margot, that advises on the different types of grapes used, offering customers wine pairings based on their choice of food.
Relevant, Cost-effective Advertising
The advertising industry looks set to benefit dramatically from AI tools. One example would be that of traditional programmatic banner ad, in which to achieve a consistent ROI, the ad manager may repurpose as and where to which the most or higher quality of web traffic to generate impressions and click thru based on the performance data. All these without a need for constant human monitoring to decipher the results regularly.
Safe, Fast, and Accurate Voice Search
The growth of mobile, combined with the popularity of Alexa, Siri, and similar virtual assistants, is leading to a rise in voice search, which is far quicker and safer than typing.
ML algorithms can now understand human speech, allowing for far more accurate speech-to-text conversion. Google’s algorithms have an accuracy of 95 percent, which equals that of a real human. As a result, marketers are having to alter their SEO and content marketing strategies in order to cater to and take advantage of voice search.
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