What is Cognitive Marketing? How To Solve The Biggest Problems With Cognitive Marketing Strategies?
The age of artificial intelligence (AI) is upon us. In the past few years, vast improvements have been made in how well computers can recognise objects in images and understand human voices.So let get an idea of What Cognitive Marketing is? and What is it all about? by taking few examples.Before Starting let us know;
What is Cognitive Marketing?
Digital marketers, accustomed to using software that helps them think about marketing, are now transitioning to a time when software will do much of the thinking.In short Cognitive Marketing is playing with the human mind in means of human behaviour,emotions and by any kind of human touch by more advance marketing tools and strategies. Cognitive marketing may even redefine how brands relate to customers. According to IDC, more than half of all companies will be using Cognitive marketing by 2020.
Here are some examples of Cognitive Marketing-
1- For me, it was the throw like a girl campaign of 2014. The ad hit us all in a way that we could relate to. It brought up issues of gender disparity, the innocence and potential that children have, how society moulds boys and girls differently — and encouraged adults to remember the potential and self confidence they had lost along the way and make use of it — reclaiming the phrase “like a girl.” Powerful stuff.
Results from Example 1-
- 1100+ earned-media placements and 4.4bn+ media impressions in the first three months.
- 90m+ views; number two viral video globally.
- Always Twitter followers tripled in the first three months; Always YouTube Channel subscribers grew 4339%
- 177,000 #LikeAGirl tweets in the first three months, including many celebrities.
Higher-than-average lift in brand preference; claimed purchase intent grew more than 50% among our target.
- In a study conducted in December 2014, almost 70% of women and 60% of men claimed that “The video changed my perception of the phrase ‘like a girl’”.
2- One brand that has always been ahead of the cognitive marketing game is Dove.
Results From Example 2-
Their ‘Real Beauty Sketches’ campaign from 2013 has stayed etched in viewer’s minds and received more than 67 million views (and counting) on Youtube alone.
To illustrate, imagine you’ve created an ironclad marketing plan that entailed 20 steps to follow until completion. With each step, there will be three phases called cognition regulation which effectively monitor each step’s progress:
- Planning phase: Implementing an effective roadmap to successfully launch the step along with subsequent procedures should said step fail to launch as planned.
- Monitoring phase: During each step’s execution, monitoring the progress analytically or through documented notes is vital. Analytics through Google isn’t entirely necessary here.
- Evaluating phase: Upon the conclusion of each step, evaluating the success and notating the failures will help improve future planning of similar campaigns.
“Marketers will spend less and less of their time clicking through user interfaces”-as said by IDC Research Manager Gerry Murray
Below I have note down the three main ways Marketers will be using cognitive marketing-
1–Segment audiences in new ways.
3–Help customers make better decisions.
Following the event, Antonia Edmunds, business leader at IBM Watson Marketing, had a few more words to say on this topic below:
One such big company that has started to use its own analytical tool is IBM which will be the future of Cognitive Marketing.With IBM’s Watson, Opentopic used Artificial Intelligence elements like NLP (Natural Language Processing) Speech-to-text and Taxonomy capabilities to analyze media mentions from 300,000+ daily sources and score the relevancy of each mention for 5 defined categories: Hair, Body, Age, Clothes, Beauty.Many companies are joining this marketing strategy with IBM like Toyota,Dove.
Below is a quick demo of how IBM watson works?
Cognitive marketing is the mind behind the message you’re trying to convey. It’s pretty scientific, but once you’ve managed to see the emotions running through your buyer’s mind, you’ll start crafting effective and more meaningful campaigns.And since people want more customisation and personalisation,the marketing strategies are changing accordingly with the use Artificial Intelligence.If you want to know more about Cognitive marketing,here is the link