“Predicting the future isn’t magic, it’s artificial intelligence.” – Dave Waters.
In 2019, Nicolas Darveau from Think with Global predicted that the rapid advances in Machine learning would result in almost all media buying digitized and automated. The future is now.
Source: Think with Google
Machine learning has the potential to take the world of brand marketing to new heights. It is a subset of Artificial Intelligence that enables software applications to identify and learn from data patterns and to produce better outcomes in marketing.
In other words, machine learning assists marketers in understanding data, anticipating future customer moves by reading their behavior patterns and rethinking over campaigns. This will provide accurate data on what prospects are looking for, allowing you to take action toward revenue growth.
Furthermore, marketers appear to prefer the automation of personalized creative content delivery for online advertisements instead of being produced by humans. According to the International Data Corporation forecast, machine learning will be common across all areas of the advertising technology industry supply chain by 2022. With Machine Learning, there may be opportunities and solutions to marketing problems that we haven’t even considered.
Recently, Harvard Business Review has published that personalization is at the heart of every company’s business strategy today, across all industries. In fact, the most well-known brands like Starbucks, JPMorgan Chase, and Nike have publicly stated that personalization is central to their corporate strategy.
In New York, JPMorgan Chase leveraged AI copywriters to create customer-friendly content. As a result of its improved copywriting, the company received higher click rates. Coca-Cola, a premium brand, has reinvented how consumers interact with their products via smartphones by utilizing machine learning. GumGum, a contextual intelligence company has used AI and machine learning to determine the best web pages and digital spaces for advertising. With a machine learning platform, Cross Digital Marketing Agency makes it easier for marketers to create personalized content and campaigns.
Here are some reasons that you might need to leverage machine learning too.
1. Combating Fraud: Today, one of the major challenges that most marketers face is ad fraud. In the first half of 2020, app install fraud is estimated to have cost $1.6 billion. Machine learning, however, works as a critical tool for tackling fraud quickly and successfully. It aids in analyzing common user behavioral trends and highlighting any activity that differs from these trends. The machine can detect and prevent new fraud trends with greater statistical significance and certainty.
2. Delivering outstanding customer services: Chatbots are a popular marketing strategy today. Providing the best customer service is a top priority for any marketer because it not only helps retain customers but also engages and increases prospects. Chatbots are simply computer programmes that engage in human-like conversations with customers. Customers can also make purchases and answer FAQs thanks to advanced machine learning.
3. Ability to dynamically set price: Marketers can use Machine Learning to sell goods and services with real-time pricing. Real-time pricing is a cost-setting method that is highly flexible. But why would you do such a thing? Machine learning will help a marketer monitor the correct market value in real time and quote the price accordingly. Interestingly, it can also help you predict prospects who are close to making a purchase, allowing you to provide a timely discount offer.
4. Improved user acquisition: Are you thinking about running a campaign to gain new users for your app or another platform? Leveraging machine learning to acquire users is a great strategy for marketers. It assists in understanding customer behavior in less time by providing data-driven insights into what matters to your customers.
In the marketing industry today, machine learning is being used to make the process easier and faster, as well as to increase customer engagement. The more we adopt machine learning’s capabilities, the better we will become as marketers. So implementing machine learning could be the next big step in the growth of your brand. To learn more and see how Cross Digital Marketing Agency, one of the best Marketing services in Boston can partner with you in that growth. If you are looking for a company with the best Digital marketing services in Boston, who can help you with an effective Brand marketing strategy.