Marketing today is about creating differentiators, not merely selling a product or service. How can AI help you stand apart from the crowd?
The biggest revolution of marketing strategies is expected to be driven by AI, using data and algorithms to model and predict market behaviours. The trend has started, and will ensure that the marketing of tomorrow will be drastically different from what the industry does today.
While a few years from now, the basis of strategy will stay the same, we will still consider the 5 Ws- Who, What, Where, When, And How. We will also be still trying to measure the efficacy of solutions, what will change is the ability to offer the optimal combination of solutions. Using AI, the marketers could move from mass campaigns to hyper-individualized campaigns with micro-personalised content. AI will redefine the elements of marketing, and change the face of campaigns of the future in many ways. Here are a few scenarios:
Target markets
Marketers today are using rules-based segmentation and Smart Lists, which are already becoming outdated. AI has the power to identify accurate preferences and trends, analyse past purchasing behaviour, and clearly point at the target customer. This will enable the CMO to create personalised custom tracks for every customer, because they can leverage this massive amount of data to do a cluster analysis and identify natural affinities within groups. In the next steps, AI can also expand and create duplicable audiences for a massive and completely targeted growth. This could be the way marketers work in the future- by selecting targeted audiences.
Content
We are aware that every consumer is unique, in choices, habits and preferences. AI and machine learning today enables the creation of hyper-personalized messaging, after identifying individuals’ preferences and values. Very soon in the future, mass distribution of messages will be replaced by assembling bits of content to create completely personalized campaigns based on real-time engagement. Creativity will drive the value of content too- with life-like characters, audio and visual media, the impact will be manifold.
The real roadmap
It will have customer data filtered into “categories” of journeys or campaigns that AI will help organise. It will be easy for marketers to analyse the engagement patterns among them. Designed to deliver repetitive and mundane tasks with endless and infinite accuracy and efficiency, AI will make these journeys completely automated and infinitely successful.
Impact Measurement
AI will also change the way strategies and investments are analysed. Marketers will increasingly focus less on engagement metrics, and take a more holistic approach to the numbers. They will realise that ROI also comes from increased awareness and brand affinity, and this can be the longer term advantage.
With AI driven computing power that can run on vast amount of accessible data, the marketing strategies scenario will transform forever.
