While we started with some science fiction using The Terminator, The Matrix, and Blade Runner films as a backdrop, our session stripped away the jargon.
We focused specifically on the benefits of AI in marketing, what it solves for, how to diagnose the right partner, and left attendees with best practices to apply within their organization.
For those that missed it, I’ve summarized some of the points we covered:
What are some examples of AI today in our lives? While this is an easy one, we discussed how AI is used daily in voice services (Siri, Alexa, Google Home), online recommendations w/Amazon & Netflix, and in cars (thanks Tesla).
If I’m a brand, why should I care about AI in the business world?
55% of CMOs expect AI to have a greater impact on marketing than social media ever had.
What will AI do for me as a marketer?
First, you will be a hero to your marketing team. Many mundane tasks your marketing or operations team is tasked with can be automated through AI. This enables higher value work for your teams i.e strategy, campaign development, etc.
Second, it will significantly drive more returns for your business. How you ask?
In today’s world, there is just to much data to expect a human to optimize your media spend on a daily business — especially across hundreds or thousands of locations. Given this dynamic, some brands just focus on social media, paid search, or storytelling in video environments like YouTube. But why pay for media that is not converting for you?
That’s the beauty of AI. Machine learning enables all selected media channels to be always on. Read more in a deep dive we wrote on the role of machine learning in local marketing for the IFA.
How does creative in marketing work with AI? The creative palette is most rewarded by the outcome of AI.
Not to long ago, the concept of A/B testing was a very manual task when combined with executing marketing messages across many different sizes, copy variations, images, and media channels. Today, AI supercharges the A/B testing process and immediately takes action. When you use AI in marketing — copy lines, images, colors, sizes of ads, formats, and channels are just a few of the inputs that feed the algorithm. Creative testing flows directly into creative optimization, putting your brand in the best position to engage, influence, and convert a potential consumer over time.
What else are CMOs saying about AI?
— 53% of CMOs plan to introduce some new form of AI technology to their companies by 2020*.
— 57% of marketers using AI say it’s critical to the development of effective 1:1 marketing.
— AI is the technology that CMOS expect to invest in the most over the next 2 years.
— 75% of high performing marketing teams use AI for predictive lead scoring.
— High performing top marketers are 3X as likely to use AI than underperformers.
— 51% of leading brand CMO’s use AI to develop marketing strategy and / or inform media buying.
What are some important questions while vetting solution providers? Here are some common ones to ask:
→ Is the company you are evaluating a technology, agency, or consulting firm?
→ What is the company’s main focus? What are the background of the founders and/or executive team?
→ Is the AI visible? You can’t just say you have AI…
→ What’s the method of your AI technology?
→ Who created the algorithm, what is their background?
Be careful of AI marketing positioning + VAPORWARE.
Have I peaked your interest?
With a limited budget and resources, marketing AI and automation allows your organization to scale your marketing with less investment and time. Most importantly, the results are way better — and you will know why.
If you aren’t using or testing AI in your marketing efforts, reach out to us at email@example.com, or feel free to reach out to me directly at firstname.lastname@example.org.
For a copy of our recent webinar with the IFA, please drop us a line as well.
Founder & COO @ Eulerity
*Source: AI for Marketers: The Future Is Already Here, EMarketer, 2017. AI in the Real World, The Economist Unit Intelligence Report 2017. The State of Marketing Report, Salesforce Research