Five Strategy Artificial Intelligence and Machine Learning Can Advantage Digital Marketers
Recognizing how artificial intelligence and automation helps propel your business is, in my mind, paramount to staying ahead of this curve for a business leader in today’s society. Automation can affect countless industries, but today, let us discuss how it will benefit those from the sphere of digital marketing.
At my online affiliate advertising agency, we have gathered almost a decade of data on e-commerce, and specifically on handling affiliate programs for a wide array of clients. We developed new proprietary technology which will function as a game-changer in assisting us to maximize our workflow and ultimately produce more revenue opportunities for more customers using our data.
It may improve decision-making processes and increase returns on ad spend and investments. It should allow for the complete removal of guesswork and is going to have the ability to accelerate investigations that may have taken a great deal of time. The decisions made algorithmically will objectively be more data-driven, and advertising spend should decrease, while also allowing a more substantial return on investment.
AI can help improve margins and bottom-line earnings. Companies typically try to improve the bottom line by increasing revenue or cutting expenses, and AI can help with both. In my firm, through machine learning and continuous tinkering with data analysts, we are constantly optimizing and monitoring. Remember, it’s still important to have people on the back end.
You’ll have the ability to create optimal campaigns.
AI will be able to help you find new optimization opportunities. Examples include, but are not limited to, implementing data from an identical customer to a different, past -performance of ads, demographic breakdowns, and e-commerce trends and projections. These different strategies to parse through information to make decisions can occur faster and better. In the long run, you are in a position to place the right advertisements in front of the right prospective customers.
AI can help with buffering anticipated seasonal tendencies. AI will have the ability to anticipate seasonal drops and indicate ways to effectively optimize during this time to maximize performance and soften the seasonality blow (that will hopefully be reflected in your year-over-year numbers).
Applying AI and machine learning to the cloth of your company is not something to take lightly. It is important to implement some best practices. For example, you’ll want to go about training your staff on how to use the new innovative technology that I’ve mentioned.
You might think about either promoting from within or hiring a mind of automation who can track and monitor the success of your app. Furthermore, they can act as a point person for many things AI and flag any inconsistencies in data output in addition to have a great handle on what has to be performed whenever there is an issue surrounding the new technology.
A human touch, in general, is needed to establish AI technology at your company. Constant tinkering and optimization of this technician will greatly help your analytics plan.
You will probably encounter challenges when trying to use AI. Upfront expenses, for instance, are likely to be high, so you’ll want to buckle in if you decide to construct proprietary technology. Whether that comes in the shape of an outsourced group of engineers, staff hired for the project, or an outright purchase of tech that currently exists, it will take some time and cash to get there. Consider it an investment in something that will pay off for many years to come.
You also might need even more time than you believed to allow the tech to teach itself how it ought to function. Like any intelligent being, AI requires maturation and a lot of experience to garner its capacity to problem-solve. Give it time, and again, consider this all a very well-calculated investment in your organization and your staff.
I am hoping these use-case scenarios for AI will get you along with your electronic advertising team fired up. I look forward to my company benefiting from AI in the future, and I hope yours does, also. Stay tuned for updates and good luck out there. Keep in mind, AI is nothing to fear. (Unless, of course, robots take over the world. I believe that’s another article, however.)