CMOs Leverage AI-Powered Data Analytics to Drive Better Strategies

    Data Analytics

    As AI gains a sharper ability to get better insights from data, marketers in the future will return to their core capabilities of creativity and originality for better strategies.

    With the rapid evolution of consumer technology, growth in digital marketing channels has transformed the marketing landscape. It is now crucial for marketing leaders to define and develop effective teams with capabilities of technology to meet today’s challenges.

    Until now, the adoption of new technologies and the expansion of digital marketing have only translated into more work for the marketing teams. Due to the increasing demands on bandwidth, marketers pulled away from the core purpose of customer-centricity for management of time-consuming tasks like keyword expansion, bid adjustments, rotating creatives, and more.

    With sophisticated technologies, especially the autonomous AI-powered ad tech, marketing technology is seeing a tipping point. These robust technologies are driving new benefits for marketers – taking off time-consuming, rote-based tasks and allowing faster and informed decision-making. These technologies also enable them to modify ad spend to execute the targeted marketing campaigns in real-time.

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    Marketers can boost productivity by leveraging autonomous AI, as they can have an ‘incremental workforce, without expanding the size of their teams. Autonomous AI technology can arrive at an optimal spend threshold after analyzing hundreds of creative and targeted variables to make decisions in real-time. This task would take the human counterparts a few months and advanced skill to run as effectively. Leveraging autonomous AI enables marketers to make conclusive decisions based on the conclusive data, which in turn multiplies their productivity.

    Experts believe that one of the least addressed benefits of AI technologies is its ability to help marketers see through silos of data and to access a complete view of the advertising landscape. The power of AI helps marketers gain access to holistic insights, return-on-investment, and audience segments across channels.

    New AI technologies have started to turn the tide and improve marketing bandwidth. The introduction of assisted AI technologies helped marketers to accelerate data processing and optimized suggestions that enabled them to see where the campaign efficiencies could be gained. However, deriving meaningful action from the analysis still required human bandwidth.

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    As machines take on more mechanical tasks, marketing leaders can now focus on developing their capabilities. For enterprises that employ autonomous AI capabilities, experts suggest four key areas that can drive significant impact within the organizations in 2019 and beyond:

    • Data Analysis: With volumes of data being collected and with more exceptional ML-powered analytics capabilities, marketing teams require individuals who have the ability to derive insights from the data to take meaningful action.
    • Creative Storytelling: Between the increased noise, there is a demand for compelling campaigns that attract and engage audiences. Teams need to have more creative minds than ever to understand the role of originality in the art of advertising.
    • Media Strategy: As the interplay of all devices and channels – online and offline – continuously evolve with the customer journey becoming more complex, teams will need AI as well as individuals to deliver better messages at the right time and the right channel to draw the audience closer to the brand.
    • Connectors: As campaign strategies address multiple channels and customer segments, the marketers’ skill will become crucial as they can to connect learning across brands leading their organization to meaningful and sustainable change.

    To be effective, marketers need to focus on their core function – delivering on human creativity, empathy, and innovation. Meanwhile, machines will be essential in helping marketers to achieve this as they manage, analyze, and make optimizations off data in real-time. Marketing leaders will need drive this transformation and be strategic in both – the adoption of key technologies and developing and hiring for the roles and skills that are required for modern marketing.

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