Artificial Intelligence (AI) can often appear overwhelming, but it is the key to driving marketing effectiveness in today’s digital world. Having led the marketing function for various global organizations focused on Big Data, analytics, AI, and machine learning technologies, I am a huge proponent of what AI can do.
As marketers, we’ve got more data than ever available to us. Data is retrievable from virtually every source of marketing that we do, from real-time customer engagement to interactions on our websites. So the question is: how do we get more intelligence and use it to drive actions that deliver results?
During the sixth installment of our INNOVATE Webinar Series, I spoke about how data plus AI and machine learning can help marketers. If you missed out on the webinar, you can watch it on-demand here. But if you want the highlight reel, below are the key takeaways.
Artificial Intelligence is Anything but Artificial
AI has become a must-have technology that frees marketers up to focus on value and what they do best – strategy, creativity, and ideation. Machine learning (ML) is a subset of AI that quite simply is math, acting on large amounts of data. I strongly believe that data + AI/ML = patterns, preferences, and predictions, which makes AI anything but artificial.
The 3Ps: What AI Can Do for Marketers
AI/ML can detect patterns in vast amounts of data, helping marketers make better sense of the data and, ideally, the customers they are trying to reach. By analyzing data around demographics, web browsing behaviors, and past purchases, marketers can detect common attributes and understand segments of consumers. These shared attributes can be amplified by identifying customers that display similar behaviors.
Large data sets operated on by machine learning not only help isolate patterns but also discern preferences. Ideally, however, we as consumers would provide our consent and our preferences so that we are served up the right offer that we want to see.
By using AI and machine learning to create models, marketers have a better view of what might happen next. Think about it as having a view into the future – an opportunity to determine the next best offer, next best action, next new customer, etc. AI/ML gives a marketer that insight.
It’s Math, not Magic
AI/ML technology is already embedded into a slew of MarTech and AdTech tools available today, and marketers need to understand how to think about them and bring them into their marketing mix.
I encourage every marketer to think about AI differently – as a tool in your toolbox. In the world of advertising, it can take the guesswork out of who and when to reach a particular consumer, and do it automatically and easily.
Interested in Learning More?
Watch the full on-demand INNOVATE Webinar: The 3Ps of Demystifying AI for Marketers. Also, for more information on how to better leverage AI and machine learning in your marketing strategy, come to our Virtual NOVA event on March 3 (US & CAN) or March 4 (EMEA & APAC).