When it comes to social media advertising, there are all sorts of factors to consider but mainly it boils down to one key issue – where will you get the most bang for your buck? At 2.23 billion, Facebook has more monthly active users than Instagram, at 1 billion, and Twitter, at 336 million, growing 11% since last year. But as Instagram launches its new business profile pages and IGTV, it seems to be giving the top dog a run for its money. High CTRs alongside low CTMs and CTLs are the holy grails in these ad-serving communities. And now a new product launched by marketing technology company Phrasee has managed to achieve the dream with the launch of its high-performing new tool for Facebook and Instagram – the first of its kind on the market.
This week's Day in the Life comes from the burgeoning world of AI-powered marketing. Neil Yager is Chief Scientist at Phrasee, a company that uses artificial intelligence and natural language processing to generate and optimise marketing copy. Phrasee also happens to be one of the sponsors of Supercharged, a July 2017 event from Econsultancy which looks at exciting new AI technology in marketing. Neil Yager: My role is at Phrasee is lead'data scientist'. This is a job that has only existed (at least with its own name) for a few years.
As fans of Blade Runner and The Terminator can testify, AI and particularly AI disaster scenarios are a subject most people can't get enough of. Therefore, when AI technology and investment began to grow, it quickly caught the public's imagination. The problem is that the technology hasn't kept pace. The resulting gap between the perception and the reality has led us to enter what the Gartner Hype Cycle calls'the trough of disillusionment' with AI. This is especially apparent in the marketing industry, where, for all the talk of AI at industry events and in the media, only 27% of marketers in the UK are actually using it in their jobs.
There's a science behind getting people to open your emails. One tech startup is helping companies master that. London-based marketing technology software company Phrasee uses artificial intelligence to deliver human-sounding copy for companies like eBay and Domino's. The software injects AI-optimized language into a company's email subject lines, push notifications, and ads to boost clicks and conversations from copy. And it can do it all in matter of minutes.
Parry Malm: I studied computer science in university, and worked coding CRM software starting in 1999, so the idea of the importance of customer data is native to me. When I led a global marketing team for a FTSE250 publisher, I sent out millions of emails, and I was always perplexed as to why one worked, and why one didn't. "Here's a secret about email marketers: most of them hate writing subject lines." Because it's surprisingly hard, and it's an imperfect process, and if your subject line sucks then all your effort on the rest of the email has been a waste of time. Previous to Phrasee, marketers would just stick their finger in the air.