Artificial Intelligence is the new hot topic of the technology industry. It has made a impact in every field of human life. Do you remember SIRI, the assistant tool or the chat assistant in an ecommerce website? They are all some examples of AI in our daily life. When the new technology has made a foray even to health care, can marketing be far behind? In this article, let us deal with the entry of AI in marketing and advertising. The topic is interesting, isn’t it?
Remember the ads played by Facebook for your sales e-commerce web page? You can target specific groups of the population based on your product and brand. Where does this all come from? AI. In recent times, marketing has been a personal theme in AI hottest applications.
This article will give the information of AI and its connection with marketing. For your benefit, we have divided the article into three sections.
- a) Real examples of AI with marketing. The article deals even with advertising applications.
- b) The future applications of AI in advertising and marketing.
- c) We have also given description of AI terms with relation to marketing.
AI in Marketing and Advertising
#1. Search
Let us imagine a situation 15 years ago. You had searched in a website with a wrong spelling for an article. The result, you get zero response. You cannot find the article. The same goes for the internet and even in a e-commerce website. But now, just check the search engine giant, Google. You type a spelling wrong for a product. Yet, it will give the right results. It will also ask are you looking for the specific product.
In other words, the search engine algorithm has expanded. Now you can find the right products on Amazon or any other ecommerce website. Even if you typed the words with wrong spelling.
#2. Recommendation Engines
Have you brought a product online? Or searched for a particular film in the Amazon store? Very soon, you will see a message, persons who search this movie also searched for similar movies. Online surfers like this kind of recommendation. Yes, the data is complex, but AI makes it easy for the company. Amazon e-commerce website makes it to the number one spot in recommendations. The product as well book recommendations has generated good sales. Just imagine the situation. The AI algorithm has to analyse various data. A recommendation engine has to make shift from many data sources to draw a conclusion.
#3. Programmatic Advertising
Program advertising – this is the recent AI to make much noise. Based on your sales behaviour and surfing options, Facebook and Google will show ads. What do you call this term? Campaign optimization. Yes, but the trick works. A person is showing interest for a similar product. And he gets the specific ad in front of his view. Then, he will definitely buy the product. So that is a lead generated to sales.
Future of AI
#4. Marketing Forecasting
Yes, predictions and after results are the hot topics of marketing today. In AI, the speciality is that it can predict the results of a campaign by analysis. The marketing data received helps an online expert to predict the number of leads and sales. It can be time-on-page, views, clicks, email responses, and many more. In this way, the companies can improve the level of marketing in various fields. Also, they can detect the type of marketing that can generate leads. For example, display ads, videos, texts or direct mail.
#5. Speech / Text Recognition or Natural Language Processing
It was in 2014 and 2015, that the chatbots became popular. Now speech recognition has become an integral part of customer care service. So, AI has made an impact in advertising and marketing. Beginning from 2016, even Amazon has developed AI interfaces such as Amazon Echo. Remember the Virtual assistant Siri. The other example is Facebook Messenger to order flowers online via the chat.
#6. AI In marketing – The future opportunities
Image Recognition – Yes, Facebook and mobiles have this phenomenon. They have security features such as an image or fingerprint. The same face does not exist at all times. So AI is in place. The security can get cleared with little permutations and combinations.
#7. Generation of Content
There were the days, when article writers and reports were the toast of a generation. Loyalists used to wait for stories, articles or news from a specific writer. Now AI has stepped into writing content for newspapers and finance based websites. Companies (Narrative Science and Automated Insights) have found AI tools to convert data, time and numbers to human readable articles. Just imagine the vast opportunities. In the future, every company will have a tool. It can write the best product description, banner based on information.
Artificial Intelligence terms that are making an impact in Marketing
Programmatic Advertising
In simple words, it is the automation process to buy and sell an ad via exchange. In other words, it connects advertisers with publishers. The AI process gets used for bidding. It is also used for other aspects across display, mobile, video and other social channels.
Supply Side Platform
Used for sales in advertising. The Online publishers use the SSPs to assist them sell video as well mobile ads.
Demand Side Platform (DSP)
Have you known Buffer? You can maintain many social media platforms by this online platform. Likewise, this system allows agents to maintain many accounts on data exchange and ad exchange via a single interface.
Recommendation Engine
Have you ever viewed a product or service? How can a customer or viewer rate a product or service? Based on the experience he received using the product or service. So, this type connects the users with the right items in your list. But suppose if you do not have old users, then the tool becomes a non-functional part.
Also, algorithms matter. You need to have a proper AI in place with the right amount of data. Just imagine a situation. Let us imagine, a video game series wanted a tool to know how the public will rate its to-be introduced new game.
So, it compiles data of the ratings from ten previous games and gives to the AI tool. Now, the AI tool will check and give the data to the right users. They will be loyalists who have given the best of reviews for the old games and versions.
Conclusion
Artificial Intelligence has even stepped into the start-up industry. Let us imagine a situation in Bangalore. In the last decade, for any home repair of appliances and home, you used to search for referrals and listing websites. However, in recent times, the trend has changed. It is the turn of new companies to bring a new platform which is beneficial to the customers.
The media has given a new name to these start-ups – doorstep repair companies in Bangalore. Imagine you have a geyser for repair in your home. You have to download the app of the best doorstep repair company and book a service. There are also options to visit the website. A chat option may be available and you can have a conversation.
In some websites, the person at the other end will not be a human, but an Artificial Intelligence chatbot. It will take your details and assign you to the best technician for geyser repair in Bangalore. So, the home appliance repair gets solved in quicktime.
