If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Machine learning is not new to the marketing field. Hardly any company hasn't yet implemented these benefits to optimize content, boost customer experience, and increase sales. But as time goes, ML tools become even more elaborate and help marketers conquer all the new peaks in improving their efficiency and satisfying consumers. As a subset of artificial intelligence, machine learning is the computer's ability to develop new, more effective solutions through analyzing previous mistakes, choices, and decisions. Machine analysis is faster and more accurate than human, so it saves months of time and can be applied to almost any marketing task.
Marketing has changed drastically over the last decade, fueled by the evolution of technology and the demands of more discerning, sophisticated and impatient consumers. Yet, despite consumers' evolving preferences for how they access products, services and information, I would argue that most brands lag behind their customers' desires and needs -- they continue to rely on high-frequency, one-way communications while striving to instill urgency to drive conversions. This seems particularly true within the world of direct marketing that is heavily reliant on one-way channels where brands push the latest sales offers in tightly packaged, largely text-based campaigns, hoping to move the needle a few percentage points. As a long-time direct marketer and a humble student of the great David Ogilvy, I have always felt that it's somehow arrogant to believe that we could compel, persuade or influence a consumer by speaking at them -- employing one-way interactions without thinking they might want to say something back. According to one company's research, the SMS marketing conversion rate on Black Friday 2020 was 3.5%, which was awesome and significantly above 2019.
One of the biggest challenges that marketers are facing today and struggling with is the massive amount of data that we see in our line of work, day in and day out. Some would like to call it "data overload," which is only getting compounded due to the speed at which we're getting data in ever-increasing ways. I like to say, and I am sure other marketers will agree, whenever we are putting together any strategic plan, we start with the data. We say, "What does the data tell us?" Data dictates everything that we do, from what people say on social media and review sites about our brands and products to our customers' suggestions on things that we should consider implementing, like a new soda flavor or a new travel route. Further, there are times when the data that comes to marketers also gives us a kernel of insight into potential consumer trends that may impact our brands and products.
With the range of technology that marketers can use for both content marketing and generating new content ideas, it's no surprise that content generation itself can and would benefit from the use of Artificial Intelligence (AI). At okwrite, we engage the support of an AI-powered brand to guide our content creation. But there are additional technologies that use AI to actually write the content. This kind of technology for content marketers is still in its infancy and it has been interesting as a company to witness its evolutions. Considering the importance of creating original content, we thought it would be best to create a piece that takes a dive into content generation and AI.
Click to learn more about author Ingrid Burton. Marketers today have more data available to them than ever before. Applying artificial intelligence (AI) to that data is necessary to driving marketing effectiveness in today's competitive digital world. When properly harnessed, AI provides insights that help achieve lower customer acquisition costs, greater lifetime spending per customer and better revenue outcomes in general. However, AI can often seem overwhelming for marketers that don't have experience with the benefits that data science can yield.
The FTC has issued Business Guidance about the use of artificial intelligence (AI), warning marketers about the danger of the potential discriminatory impact of automated decision-making. As the FTC noted, the use of AI "presents risks, such as the potential for unfair or discriminatory outcomes or the perpetuation of existing socioeconomic disparities." To illustrate the risk, the FTC's Guidance cites a study of an algorithm used to target medical interventions to the sickest patients that wound up funneling resources to a healthier, white population, to the detriment of sicker, black patients. The Guidance also cites a number of enforcement actions brought by the FTC and other government agencies under the Fair Credit Reporting Act, the Equal Credit Reporting Act, the Fair Housing Act, and more, where companies have used big data in misleading or discriminatory ways in their advertising, targeting practices or in their other interactions with consumers. To mitigate these risks, the FTC's Guidance recommends that companies using artificial intelligence tools be "transparent, explainable, fair, and empirically sound, while fostering accountability."
That great recipe your friend cooked, your next exciting tech purchase, how to tie a bow tie -- there is almost nothing we do that we don't research first on the web. You name it, we Google it. Most of the research that a buyer conducts for a considered sale happens online, either on your company's website or worse, your competitor's website. And even if buyers ultimately buy from a salesperson or offline or at a store, they usually research their purchases online first. As a company, your best opportunity to discover and capture your customers' buying intent before they purchase all happens online, and often on your very own website.
AI tools can transform the entire marketing production process, helping marketing teams make data-driven decisions about what to write, who to write for, and how to reach readers as effectively as possible. Tools like Smart Compose from Gmail are already producing short-form content that replicates a human tone. Does this mean that robots will be writing the content you enjoy reading every day? Currently, AI is being used primarily in content production planning stages. For example, tools that can dynamically cluster relevant content topics can help marketers identify actionable opportunities. Some tools help marketers navigate changes occurring in search engines and social media algorithms.
Joel is Head of Sales & Marketing at Vestorly, an AI-driven content curation engine. He writes about leveraging content effectively. Content marketing has long been a passive form of marketing. Email personalization, on the other hand, is an active approach. Email marketing reflects a staple in our personal and professional lives.
Artificial intelligence (AI) is a term that has been thrown around a lot lately, but what does it really mean? AI is a branch of computer science that emphasizes the creation of intelligent machines that work and react like humans. It has been around for a very long time, but today it is becoming a critical component of digital marketing that is helping companies realize meaningful results. Everyone's talking about AI, but fewer marketers truly understand what's going on. How should you, and your agency, prepare for AI?