Artificial Intelligence in Digital Marketing is here to become a trend and is in the cusp of becoming the new normal
2018 will be recalled as the year if Artificial intelligence (AI) moved away from hype and predictions surrounding it to real adoption and implementation. The year brought AI to the mainstream where numerous businesses warmed up to it, adopted it and reaped fine results. Digital Marketing, being immensely data-driven, has been among the early adopters of both AI and witnessed enormous effects.
Digital Marketing is all about harnessing the power of data to produce campaigns that are customized to match the needs and interests of the consumers. Interacting with the customers at the perfect time on the perfect platform with the ideal message is essential to a campaign's success. The competitive edge for a marketer is dependent on how quickly one can assess the incoming data and recalibrate a campaign to outmaneuver the competition. But the greatest challenge is posed with the number of information itself.
Fighting Ad Fraud
Another important and very critical battle that AI is fighting on behalf of advertisers is handling Ad fraud menace which has marred the electronic advertising industry across the world. Ad fraud, as its name implies, is a scam completed to create earnings by creating fake traffic. This is usually accomplished by employing robots which mimic individual clicks and impressions in order to deceive the advertiser of ad money. Ad fraud is so rampant that almost 30% of the advertising budget lay waste owing to such fraudulent actions. Seemingly impossible for humans, AI can continue to keep an eye on the robots in real time to discover fraudulent patterns. It can then tweak the advertising delivery strategy quickly to curb these actions and help advertisers get the maximum bang for their buck.
AI has also begun dabbling with ad creatives. Although these are early days and there's still a very long way to go before AI can think of full-scale ads all by itself. However, it has begun auto-generating multiple duplicates with varied tonalities for individual teams to pick and choose from for different advertisement sets.
Making Sense From Data
With increased digital ingestion the world is generating huge amounts of information on a daily basis. As stated by Domo's Data Never Sleeps 5.0 account, there are 2.5 quintillion bytes (1 million terabytes) of data generated each day! And it's estimated that a staggering 1.7MB of data will be created every second for each and every person in the world by 2020. Who imagined when using floppy disc drives of 1.44MB at one point, right? It's no less than a nightmare for individual teams to crunch this kind of humongous amount of data into actionable insights and then also tweak the advertising strategies on several platforms simultaneously in real time. As a result, marketers with no ability of AI restrict their efforts into a couple common platforms and wind up burning more funds with less competent leads to show. However, a well trained' AI can achieve all this and a great deal more at the same moment on the fly.
Automated Media Purchase
This is where Artificial Intelligence (AI) is increasingly taking over individual teams in digital marketing. AI can process colossal amounts of data in a portion of time that otherwise would have a human team to accomplish in months or days. It's taken more than the digital media purchasing role completely from planning to buying and to optimizing advertising campaigns. AI can quickly analyze customer data and can decide the programs to target for greater conversions. In addition, it can transfer budget to the best performing system and maximize it to ensure maximum Return on Ad Spend (ROAS).
AI Is The Newest Normal
The changes that AI has attracted and will bring about electronic advertising are enormous. The AI market in digital advertising is set to grow at a compounded annual growth rate of about 30% worldwide to reach USD 40.09 billion by 2025, according to estimates by Markets&Markets. This growth will be fuelled by Asian leaders such as China, India, Japan, and South Korea. Artificial Intelligence in Digital Marketing is here to remain and is in the cusp of becoming the new normal. It's started reducing a great deal of mundane and time-consuming tasks and so allowing to focus more on increasing the value proposition. For the sheer value AI brings into the table it will quickly become an indispensable'team member' of the digital marketing experts internationally.