Adobe finds that AI is currently being used by 15% of all companies with 31% of companies saying that they will implement it within the next year. Brightedge studies find that AI is the second most popular marketing trend for professionals. Tellingly, the most popular trend was personalization, which can be accomplished through AI.
PricewaterhouseCoopers (PwC) found that 72% of survey respondents believe that AI will be even more fundamental than it is today and view it as a “business advantage.” Your peers are moving in a definite direction, and you likely hear the stampede. You may see the benefit of moving in the right direction, but have you mastered the technology so that you do not accidentally overspend and underdeliver on the investment?
Let’s take a look at some of the ways that your peers are using AI so that you know where to put it when you invest in it.
Unfiltered big data is becoming less of a business asset as time goes on. There is simply too much to move through manually and executing the proper pattern for its organization may require human resources beyond the capacity of most businesses to hire.
Fortunately, filtering data is what AI is all about. Quickly turn your big data into intent data that speaks to the motivations of your prospects. Outsourcing this low-value work to an automated system can save your labor force up to 30 hours a week, according to research collaged from more than 100 case studies.
AI is beginning to make its value known in influencer marketing. Companies no longer have to rely on social influencers to report their psychographics and intent data. AI gives the business the ability to vet influencer audiences to target those with certain brand affinities and motivations.
AI is great at weeding out influencers with fake followers and manipulated engagement numbers. Most of these counterfeit audiences are created by computers, so it follows that computers are best for spotting them.
Wouldn’t it be great to know how a branding campaign is going to perform before you spend the money on it and put it out? AI helps to predict which content will perform best for a particular audience. This content includes influencers.
Outside of weeding out channels with fake audiences, AI can also choose which folks from the shortlist will get the best results. With AI, you can scale this vetting process to include exponentially more candidates than a process driven by humans.
Consumer data is coming into the business community at a continuously accelerating rate, as mentioned above. As this data makes its way through marketing, finance, administration and other departments, it encounters bottlenecks. These bottlenecks would normally slow down the speed of data to a point where it becomes unusable in a world of real time pivots. At the very least, a business falls behind because it cannot process data as fast as its competitors.
AI centralizes and standardizes processes between departments with different KPIs, personalities and lingo. It becomes much easier to wash and rinse data if department heads can all rely on the same process – a process that everyone agrees on ahead of time and can quantify its results.
Believe it or not, AI can help with the emotive aspects of your marketing campaigns as well as the administration of your operations, HR and executive processes. Humans may be unpredictable at times, but they are creatures of habit. As such, their behaviors when presented with certain stimuli can be predicted (e.g. “sex sells”), which means that computers can help with the creative direction of a campaign.
AI can actually accelerate your creative direction because it can fully quantify its recommendations. Removing human error from the “gut feeling” can give you some incredibly powerful results.
Investing in AI is one thing – knowing how to use it is quite another. The best practices above should provide you with some direction in utility, ensuring that your AI works for you, not against you.