AI or artificial intelligence in digital marketing has a broadened range of applications and it's quite significant in the digital era. The revolutionary incorporation of this phenomenal technology emerged out to be highly innovative and has been known to exhibit human-like efficiency, if not, with a more enhanced version of the "think and respond" characteristic. The integration of AI algorithms is not limited to digital marketing services alone but seen beyond GPS systems, voice recognition systems, hashtags in social media, etc. AI not only saves a huge amount of your precious time but also surges your competitive performance. This evolving and dynamic technology is truly becoming inevitable for all domains.
Arvind Gopalakrishnan is a part of the AIM Writers Programme.… Data mining is taking turns in the industry like anything, but have you ever heard of Opinion Mining? Leveraging customer opinion as quantifiable data is a concept of future to a layman but with Natural Language Processing, the world can finally process and completely absorb customer feedback. Often data is associated with quantity-based statistics with numbers and metrics floating around, however, with natural language processing (NLP), qualitative factors like customer feedback can be processed and used as quantifiable data. For example, if a specific mobile phone models witness a higher number of sales in a given year, the manufacturers tend to incorporate features of that mobile phone to increase the sales of other models where they somehow miss to make upgrades properly basis the customer feedback.
AI-based dynamic pricing is becoming a science. Companies are using data to determine demand and competition, and then they influence prices in real time. When you experience a spike in the cost of an Uber after a concert, for example, that's artificial intelligence-based dynamic pricing at work, or "surge pricing," as Uber calls it. This technology can also use data to determine what a customer is likely willing to pay for a product. With this insight, artificial intelligence can compare a retailer's pricing to its competitors to see where they land in comparison.
Artificial Intelligence has transformed the digital landscape, such as Google's RankBrain personalising recommendations by Amazon. Artificial Intelligence (AI) is rapidly becoming essential in the day-to-day happenings of the digital world, with marketing and advertising being no exception. The idea of AI may bring to mind 60's sci-fi with futuristic robots, but it's really about so much more. With proper understanding and analysis of data and input, AI is playing a crucial role in identifying marketing trends. Brands and marketers are incorporating Machine Learning and Artificial Intelligence to save time and resources.
GumGum, a contextual ad exchange, has partnered with Simplaex's Rivr, an AI-powered traffic shaping tool to improve its Supply Side Platform's (SSP) programmatic auction performance. Rivr aided GumGum in responding to recent global events that have led to a surge in supply and steadily declining demand by adjusting ad operations to increase efficiency and performance. The Coronavirus continues to threaten economic stability. As a result, spending on advertising has been slashed, while time spent online has skyrocketed, leaving the supply side with a surge in available inventory. Rivr quickly adjusts the models to respond to this glut, assisting GumGum in mitigating the gap for its SSP and DSP partners.
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As far as SEO tools go, there are two pack leaders: Ahrefs and SEMrush. They're both powerful tools that provide resources to find the perfect keywords, optimize your content, and improve your rankings. Using one of these tools can put an end to the guessing game of choosing keywords and hoping they perform well. There are several impressive digital marketing features provided by these platforms – some of which they have in common, but others are exclusive to one or the other. So, how do you choose between the two?
Staying across digital marketing trends 2021 can shape the strategic positioning and communications of your business. Customers engaging with your brand on social media, via apps, and through your website can have their experience of your organisation enriched with the integration of these key 21st century marketing trends. Use the list below to get a rounded view of these trends, understand how these advancements are shaping the industry, and start reworking your marketing strategy so that you can move your business forward in the months ahead. Remember: "Social media users are now spending an average of 2 hours and 24 minutes per day multinetworking across an average of 8 social networks and messaging apps." There's a reason why digital marketing is essential -- your customers are most likely online in some capacity for a good proportion of their day.
Understanding text, images, and sounds is not a uniquely human prerogative anymore. Artificial intelligence is transforming virtually every business. AI's ability to derive data-driven insights is paving the road to better digital marketing. From the vast data analysis, marketers gain valuable consumer insights and change how they connect brands with their audiences. Why artificial intelligence cannot be separated from digital marketing anymore?