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"There are AI-driven tools that help marketers create and use alternative solutions.” - Mike Froggatt
Why Is AI Revolutionary To The Future Of Digital Marketing?
New AI technologies are set to revolutionize marketing strategies and provide a wealth of information about consumers.
Future strategies for chief marketing officers will likely be influenced by artificial intelligence, such as influence engineering and emotion AI.
The Future Of Ai POWERED Advertising
A recent report by technological research and consulting company Gartner found that marketers face challenges in advertising due to the rapid fragmentation of digital media. AI can be used to target audiences, measure success, manage preference and consent, and help with identity resolution.
Mike Froggatt is a senior analyst in Gartner’s marketing practice. Based on Gartner's analysis, nearly half of marketers use AI in some capacity.
He said that marketers can optimize their campaigns by leading customers down a customer path with an orchestration platform, or using natural language processing to create chatbots.
He said that marketers are working on issues such as identity resolution, consent management, and preference management. "There are AI-driven tools that help marketers create and use alternative solutions."
Froggatt stated that all marketers who create a roadmap for deploying AI tools will face unique challenges. A legacy brand of consumer packaged goods (CPG), for example, will have tons of historical data it can use to model, while a brand that is newer and direct-to consumers (B2B), will have much less data.
Froggatt stated that generative AI could artificially create segments or content in order to reach more targeted types of customers.
Influence Engineering to Improve Customer Experience
As influence engineering develops, AI will be used to guide customers towards the right thing.
Raj De Datta (CEO and Co-Founder of Bloomreach), a provider of digital customer experiences, said, If it's used responsibly and effectively, I believe it can have enormous impacts on digital marketing. Consider how frustrating digital experiences are for consumers today. This includes the time it takes to complete a single task and the difficulties you have finding the right brand. It also includes how many products you need to go through before you find what you are looking for.
He said that AI has the potential to simplify your digital lives, by guiding you along a path that is relevant to you as an individual and tailored to your preferences. Simplifying that journey, and making it more enjoyable, can delight customers and drive real business value from a digital marketing perspective.
Digital Marketing: The Virtuous Circle
Caroline Carruthers is the CEO of the business consulting firm Carruthers & Jackson. She stated that CMOs recognize the benefits of AI and that it is important to make sure data and AI are used in marketing as a "virtuous cycle."
She explained that data and AI provide information about customers' needs, wants and moments when they can make an impact on their behavior. Then, you must be able test: "Well, if X,Y, and Z, did I make what I want happen?"
This circle should be able to know enough to convince consumers to do what you want, or to help you figure out what to do. She said that CMOs need to constantly improve their knowledge of how they can be improved.
She pointed out that, regardless of how advanced an AI tool or technology may be, it is not going to be much use without the right data.
Carruthers stated that if the CMO is part of an organization that already has chief digital officer or director of data, then they need to form a very symbiotic relationship with that person as they can let them handle the input problem..
It's not important to fix all data quality problems or all data problems, but to concentrate on what data is necessary to allow the tool to do the job it was designed to do.
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