16 Jan 2019
Artificial intelligence: making the most of digital advertising channels
The race to find new and innovative ways for brands to squeeze more value from 2019’s lucrative digital advertising channels is on, and for good reason.
While “traditional” advertising channels like billboard, print, and outdoor are experiencing a technological renaissance all their own, the game-changing potential of digital advertising has only recently begun to be properly understood.
The ability to reach massive numbers of digital consumers simultaneously with relevant, hyper-personalized, and micro-targeted ad content represents a boon for brands on a scale difficult to overstate.
But, as marketers across the globe strive to build the processes necessary to leverage the massive profit-generating power that digital channels have to offer, speedbumps abound. The true potential of digital marketing remains unrealized, even as the world’s biggest brands throw billions upon billions of dollars into the arduous task of unlocking it.
Artificial intelligence may hold the key.
Digital advertising’s data gap
“Data” is fast becoming the world’s most valuable resource. That’s great news for those who have built their companies by collecting it. With every advancement in “connectivity”, with the widespread adoption of every new “smart device”, and with every new platform or service that keeps consumers glued to their screen and devices for a few extra seconds each day, the availability of data on the preferences, behaviors, and habits of those consumers increases in kind.
But there’s a problem.
As the available consumer data becomes more in-depth, and as the scale it is collected and compiled at becomes larger, the task of analyzing and gleaning useful insights from the data available becomes increasingly arduous.
The simple fact of the matter is, the speed at which potentially lucrative user data is being collected is outpacing the advancements in the tools and strategies that help brands exploit it. Worse yet, the gap between the two is getting wider by the day.
Could AI be the bridge?
This gap between data collection capability and data analysis capability has created an efficiency bottleneck across the digital advertising industry. Tools like algorithms and marketing automation have gone some way toward narrowing the data gap, but they have ultimately fallen short. The narrowness of scope offered by such tools, coupled with their inability to adapt at speed to quickly shifting industry conditions has left brands in an unenviable position: They have seen a glimpse of digital marketing’s stunning potential, but maximizing on that potential has remained just out of reach (until very recently).
Artificial intelligence technology is the solution that brands and marketers have been waiting for. AI’s innate ability to improve its data analysis efficiency as it “learns” allows it to keep pace with changing demands and business needs, minimizing the issues that the data gap presents.
While some AI products remain something of a “black box” solution to the data gap problem (meaning that few understand exactly how they are able to complete the data analysis tasks at the speeds and scales they are) many forward-thinking brands have already begun experimenting with this impressive technology for various aspects of their digital marketing strategies, and the results have been nothing short of spectacular.
Virgin Holidays has attributed an increase in email marketing revenues of “several millions of pounds” to the adoption of AI marketing language optimization tools into its email marketing strategy, as have brands like Superdry, Wowcher, and many others.
And, as the positive results of AI technology on brands’ marketing strategies continue to roll in, it’s a safe bet that the widespread adoption of AI marketing technology will have a major impact on the way the digital marketing game has played, and on how brands interact with consumers in the months and years to come.
A new digital advertising reality
With the razor-thin margins separating the digital marketing haves from the digital marketing have-nots, few brands will be able to lag behind the competition when it comes to the implementation of technologies like artificial intelligence and remain successful.
As we’ve already seen time and time again over the last half-decade, even the most established brand can be (and often is) upended by smaller competitors willing to take risks in the digital advertising arena. The race to turn user data and ad performance data into useful, practical, solutions using artificial intelligence will be no different.
2019 promises to be a year of big changes in digital advertising, and many of the changes to come will certainly be driven by AI marketing technology. The time to implement AI into your brand’s digital marketing strategy has come.
Don’t get left behind. Book a demo today and see what the awesome power of marketing AI can do for you and your brand.