The Transformative Journey: AI’s Evolution in Marketing
In the ever-evolving landscape of marketing, the integration of artificial intelligence (AI) has marked a paradigm shift. From merely listening to the market, we are now harnessing the power of intelligence platforms to delve deep into the intricacies of consumer behavior and market dynamics. This transformation is not merely a technological advancement – it represents a strategic move towards a more nuanced and insightful approach to marketing.
As AI continues to integrate further into marketing, the following trends will be top-of-mind for C-Suite executives.
1. Shifting from Listening to Intelligence Platforms
Marketing will always involve listening to the market – understanding trends, gauging customer sentiment and adapting strategies accordingly. However, the dawn of intelligence platforms signifies a move towards more proactive decision-making. We’re now equipped to track and analyze our chosen marketplace comprehensively, extracting valuable insights that go beyond surface-level observations.
2. Diving into Data and Analytics
Lakes, Ponds, and Puddles
One of the most significant changes brought about by AI in marketing is the way we perceive and utilize data. The analogy of data lakes, data ponds and data puddles illustrates the depth and specificity with which we can now approach information.
- Data Lake: The broadest set of data, incorporating a wide range of information. It allows marketers to gain a holistic view of market dynamics.
- Data Ponds: Information that is specific to a company and not readily available in open sources. This could include proprietary data that gives a competitive edge, and it can be combined with open source insights that we have identified.
- Data Puddles: Very specific information for a particular brand that involves combining knowledge from various sources. This could include sales data, market research, customer feedback and more. The synthesis of these “puddles” provides a nuanced understanding. Imagine looking across ten different datasets that lead us to new patterns and insights we may not have seen before.
The Road from Analytics to AI
The journey from traditional analytics to AI involves assessing the capabilities of teams across various dimensions:
- Right Data Sources: Identifying the right mix of open source and proprietary datasets lay the foundation. Social media, search, media, public datasets and proprietary data all contribute to a comprehensive data strategy.
- Right Profiles, Queries and Storage: Defining who or what to look for (profiles), developing efficient queries to access years of data in seconds and deciding what to retain for cumulative knowledge are pivotal steps.
- Right Algorithms and KPIs: Hundreds of attributes are considered to facilitate deep analysis, always linked to future Key Performance Indicators (KPIs).
- Right Machine Learning Training Sets and Scalable Models: Experience with algorithms refines profiles and results, paving the way for a shift to machine learning. This iterative process ensures constant improvement.
- Right Use of Artificial Intelligence to Further Scale: Fine-tuning knowledge of the customer leads to AI that can scale globally or delve deep into specific issues or topics.
3. Expanding Brand Voice and Reach
AI not only refines our understanding but also amplifies the voice and reach of a brand exponentially. The fusion of avatars, voice cloning, messaging and media planning will improve how we personalize our approach to a customer, refine how we develop media plans and do all this while being more cost-effective. Here are a few examples:
- Audience Expansion: Messaging is agreed upon, the voice of the spokesperson is cloned, avatars are created and content is translated into multiple languages to enable a global reach across social channels. One spokesperson can now speak to the entire world.
- Stronger Stories via Shorthand: Interactive storytelling is facilitated by software that suggests improvements during the content creation process. Same amount of work with ten times the reach.
- More Powerful Visuals: By inputting text into a platform, powerful pictographs are generated to enhance visual communication so comprehension of difficult concepts can improve.
The AI-driven era unlocks content experimentation as a means to continually improve how brands reach and personalize their messages. This iterative process not only optimizes strategies but also helps shape consumer beliefs.
AI’s evolution in marketing is not just a technological progression but a strategic metamorphosis. From being passive listeners, marketers are now active participants who can wield the power of intelligence platforms, data analytics and AI-driven insights to shape powerful narratives and reach audiences on an unprecedented scale. As we navigate this transformative journey, the fusion of technology and marketing acumen will continue to redefine industry norms and set new benchmarks for success.
By Bob Pearson and Kaity Walsh
This blog is based on a keynote speech delivered by Bob Pearson to The University of Texas at Austin McCombs School at their AI Marketing Conference.
Photo by Pixabay via Pexels