Most enterprises are opting for digital marketing tools powered by AI capabilities to design well-planned campaigns for better decision making and increased ROI.
Most digital marketing operations are now dependent on AI-powered tools. AI-based tools own the most flourishing market as demands change drastically. Most digital marketers admit that AI is largely enhancing all areas where predictive analysis, automation efforts, and analytical decision making are required.
Digital marketers are trying hard to simplify strategic planning and campaign decision making using AI. AI-powered analytics tools provide in-depth insights for campaign planning, management, budget allocation, and ROI analysis. Reports suggest that brands who have recently adopted AI for marketing strategy, predict a 37% reduction in costs along with a 39% increase in revenue figures on an average, by the end of 2020.
AI tools help digital marketers to comprehend customer behavior and make the right recommendations at the accurate time. An AI tool having millions of predefined conditions understands how a particular customer reacts to a situation, videos, ad copy, or any other touchpoint. Admittedly, marketers move to AI as humans can’t analyze the large sets of data better than a machine in a limited timeframe. With a smart analysis pattern, AI tools provide better suggestions or personalized content recommendation to the right audience on accurate time guaranteeing the success of any campaign.
According to a study by Forrester and Albert in 2019, only 26% of marketers are making use of autonomous AI, while 74% still rely on manual approach with assistance from AI. AI technology is evolving every aspect of digital marketing, naming a few – web optimization, audience targeting, audience interest analysis, and recommendation, advanced tracking, smart content writing, and reporting. Other niche solutions that AI is providing to technically advanced marketers are – smart pattern analysis, voice search technology, programmatic advertising, and native advertising
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Surveys have confirmed that AI in digital marketing is growing at a steady CAGR ( Compound Annual Growth Rate) of 26%, poised to reach a global market of USD 21 billion by 2023. Digital marketing technology platforms are evolving at a surprising pace, and it needs firms to develop some specific skill sets. A roadmap is required to stay ahead from the crowd, below are few tips to ensure that:
- Analyzing the actual impact of AI on digital marketing operations– Not all AI tools are relevant for firms. Firms need advanced AI knowledge to understand which tools could make more impact on current campaigns and reporting areas.
- Follow the leading company’s case studies– Before the adoption of AI for any strategy, decision-makers need to refer to case studies from the organization that have successful implementations of AI-tools for their digital marketing campaigns.
- Go for industry-specific use-cases – To comprehend the effectiveness of the AI tools invested in, firms should take best practices from industry-specific use-cases.
- Compare different AI software to employ– There is a wide range of tools available in the market for every marketing activity. Firms need to compare and evaluate the potential platforms smartly, to boost campaign performance. It is vital to go for demos, product documentation, and webinars before the implementation of tools.
- Be creative, be experimental– While incorporating the AI tools to current campaigns, marketers are recommended experiment, to enhance the campaign performance.
- Try new tools regularly– It is preferred to take free demos and trials of the tools to explore their potential for lesser-impacting marketing activities. This helps to understand the outcome rate of the tools helping to decide on leveraging them project basis.
- Technical skills required– AI-based tools implementation needs technical knowledge for its smooth integration with existing digital marketing operations. Firms need to build a robust in-house competency before its implementation.
- Connecting with agencies having experience in AI– Some creative agencies already employ the advanced AI tools to run successful digital marketing campaigns. Connecting and partnering with them provide more insights, mitigating the risk of failures.
AI has a remarkable impact on all digital marketing areas since AI-tools are becoming increasingly more reliable. The future of digital marketing is all about AI; the faster firms adopt it, the quicker they grow.