Artificial Intelligence or AI is slowly integrating into our daily lives, with self-driving cars, facial recognition, and predictive software. There's no denying that we're going through a period of A.I. renaissance, and Silicon Valley's tech giants are investing big on these latest advancements: in 2016, a whopping $20 to $30 billion was spent collectively (including tech giants Baidu and Google), according to estimates from McKinsey.
Earlier this year, Google’s CEO, Sundar Pichai announced that they are shifting
And given Google’s massive influence on Internet advertising, how will this strategic shift affect the future of digital marketing?
First and foremost, it's important to understand some definitions:
If the Industrial Revolution gave us machines that spared us from doing manual work, Artificial Intelligence is giving us the extra processing power that’ll allow us to achieve more than we ever did.
AI was built to make our lives easier. These machines are capable of assisting us with the simplest everyday tasks, to the crucial purpose of achieving key business goals by helping us deduce actionable insights from large datasets to drive critical decisions.
As the whole world turns digital, there’s a huge flood of data that analysts need to crunch just to get specific and actionable insights. This is where AI comes into an element of its own: it removes the burden of having to go through rows of statistics because it interprets data for you to use for however you need it.
Some might fear that Artificial Intelligence (AI) and Machine Learning (ML) will entirely take over the whole marketing process, but they simply forget to take into account that an automated AI can never replace a marketer’s intuition, strategic nous, and ability to understand human emotion.
Instead, we should focus on how Artificial Intelligence actually equips marketers with the information they need to adapt in the evolving world of digital marketing.
Our increasing dependence on digital has consumers craving for personalisation. According to a study conducted by the University of Texas, personalised content gives users the feeling of control and desire over being bombarded with large quantities of irrelevant information on the internet. With the help of AI, marketers are able to deliver a unique message that resonates with consumers based on where they fit into the buyer journey.
By shifting towards delivering a more personalized marketing message, marketing-generated revenue could increase by a staggering 171% (MarketingSherpa, 2016). These actionable insights delivered by AI is key to establishing campaigns which efficiently target users at the right moment, giving you a better outcome for your campaign’s ROI.
It’s important to note that creativity is something that AI and ML can never replicate. But by harnessing these latest advancements, marketers are given more opportunities to utilise their own skillset and find new ways to innovate their marketing strategy.
The work of modern-day PPC specialists is evolving. Rather than getting caught up constantly reviewing hundreds if not thousands of bids and making adjustments based on performance, AI is now able to assist in reviewing these large amounts of data sets to provide and act on recommendations based on your objective.
Dealing with less strategic and manual tasks such as calculating optimum ad schedules, locations, devices, and audience settings can eat up a considerable amount of time, leaving us with less time to focus on strategy. By utilising artificial intelligence in our Google AdWords campaigns, PPC Specialists are now able to dedicate more time towards strategy, harnessing the information available through the use of the machines (AI) to improve campaign performance.
The “machine” I’m talking about in the above scenario is AdWords Smart Bidding: an advanced learning machine that drives informed and accurate bidding decisions. This machine has an unparalleled optimisation frequency and precision that adjusts bids for every auction, allowing you to form bidding strategies that are aligned with your marketing goals. AdWords Smart Bidding also provides transparent performance reporting tools, such as a bid simulator that gives you an estimate of your campaign’s effectiveness.
By understanding the effectiveness of your bid strategy, it paves the way to ads that serve to the appropriate audience based on their activity.
This is also where creative personalization comes in. Google’s Dynamic Search Ads can show the right message to the right person by dynamically generating an ad when a relevant query is made. This tool helps you save precious time and resources because you no longer have to create separate ads for large amounts of content – additionally, you can use Ad Customisers to assist with personalised messaging in your Ad copy. Dynamic Search Ads is a prime example of how Google is actively using AI and ML in digital marketing.
The consumer journey has become more complex than ever. With the abundance of information at their fingertips, a consumer’s decision-making process has become increasingly elaborate with hundreds of products to compare. By serving creative and hyper-targeted ads, you can cut your prospect’s decision-making journey short by showing them the right message at the right time – even at the most granular level.
If you need a hand understanding the benefits of Artificial Intelligence leading into 2018, get in touch with us on 02 8310 2393 or send us a message at any time.
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