Artificial Intelligence is revolutionizing marketing, every time we scroll click or buy something online we generate data that data is absorbed and tracked and it’s used to train sophisticated systems that connect people to the products they want better.
“In our business, we talk about emerging technologies and how they impact society. We’ve never seen a technology moves as fast as AI has to impact society and technology. This is by far the fastest-moving technology that we’ve ever tracked in terms of its impact and we’re just getting started.” — Paul Daugherty
The field of AI is still evolving it isn’t always clear how to implement a marketing AI project effectively. What’s needed is a framework let’s start with a definition of AI.
Artificial Intelligence is the study of general principles of rational agents and our components for constructing them. AI is going to dominate Digital Marketing in the upcoming time of marketing. Most of the SEO Companies in USA are going to adopt this technology to achieve their goal in the upcoming years. An AI will take in information and then act on its own to achieve the best outcome as a principle.
An effective marketing AI is less concerned with exploring causal or explanatory relationships and more concerned with simple predictive accuracy. It will absorb information about a company’s consumers and competitors and then take action to optimize for the best marketing outcomes.
Companies that are interested in using AI in their Marketing need to follow a defined Framework.
- First, they need to determine their specific marketing objectives is the goal to improve click-through rate or is it to increase sales after that they need to collect data and clean it up to verify its quality modeling.
- Comes next, what type of AI models can be built to help organizations test theories and make marketing decisions automatically
- Finally, the models need to be tested on the data to determine whether they’re accurate and predictive.
Let’s take the example of using AI to develop an effective word-of-mouth marketing campaign for an online app game.
The game is free-to-play but its revenue stream comes from premium users who buy items or extra functionality. Models were then developed including an agent-based model that generated artificial players to be real users of the app. An algorithm randomly generated links between the agents to simulate a social network and the system was automatically calibrated based on real usage data.
The model was then evaluated to explore possible outcomes of a word-of-mouth program that minimizes the cost of each campaign while maximizing revenue while there are no perfect models the strength of AI in its ability to improve over time and this general framework can help guide marketers toward effective Implementation.