While it might sound obvious, marketers should start studying AI. Not because it’s the next big thing or even because it’s involved in tech…no, they should start learning about it because without this knowledge base, they might be out of a job.
Now, I don’t mean to scare some of you, but we’re beginning to see AI make some incredible advancements in the world of branding, and some that are leaving an indelible impression. And while it’s still in the early stages, it’s going to change the way we look at advertising forever. Here’s how:
Getting Social With It
While you might be familiar with some of the innovations that are occurring between AI and social media, this relationship is about to blossom. And even though there are numerous aspects of AI that have been beneficial to social media, one of the biggest contributors has to be the implementation of chatbots. Although at first, these have had a few hiccups in the early stages, they’re now primed to become a major player in the world of advertising, completely changing how we view the industry forever.
Believe it or not, the ability to make purchases from our social media accounts isn’t as farfetched as some would imagine. According to SmartMessage, in research conducted by DigitasLBi, approximately 37 percent of respondents stated they would be willing to buy something from a chatbot. Additionally, early implementations of this has been most prevalent on Facebook Messenger, with the platform offering API’s to allow easy development for businesses. And as noted by SmartInsights, with 47 percent of internet users on Messenger, this is an excellent market to start using chatbots for your brand.
Whether it be customer service or even trying to drive sales, implementing a chatbot could be a strategy you want to hop on sooner rather than later. Remember, this is still relatively new technology, which means getting your bearings straight with it early on will only provide you more benefits as improvements are made. Plus, chatbots could help you get an edge on the competition, saving you a tremendous amount of time and money wasted on the logistical elements these could help replace.
Big Data For Big Brands
Another excellent use of AI with branding has been the recent developments in big data. While this has been a prevalent marketing tactic for some time now, it hasn’t been until recently that AI has started to play a more noteworthy role. And as Statista notes, big data is a $150 billion industry, which with the inclusion of developments in AI, will only become much more powerful.
What AI does incredibly well with branding is the ability to use different points to target users specifically. For example, knowing what interactions a user has with a brand similar to yours, then being able to bring in what entry point you should use…whether that be a paid advertisement on Facebook or an email. This is helping advertisers spend more efficiently, as well as build a much more genuine audience. All-in-all, the relationship between data, AI, and advertising is only in its early stages, so expect a much bigger impact within the next couple years.
Other Use Cases
Finally, a lot of firms have been starting AI-specific advertising platforms that are looking to change the game. As noted by CB Insights, the usage of this is offering up services we’ve never seen before. For example, an area of AI they point out is Real Time Pricing Incentives, which tracks and offers coupons at the time of purchase to entice consumers debating if they should go through with it or not. Additionally, another interesting use they point out is Predictive Merchandising, which uses Big Data to organize merchandise in a way that’s more appealing to the customer.
Make no mistake, when it comes to the future of AI and branding, a lot of the innovations you’re going to see will help tremendously with getting smarter on how we target advertising. This will allow for brands and consumers to connect in a much more meaningful way, with the knowledge that the audience will genuinely enjoy the content provided. And while it might sound laughable now, there might come a point where we actually like advertising, be it either for entertainment or educational purposes. Yes, for advertisers, AI is making your futures look very, very bright.
What are you most excited about with how AI is growing with advertising? Comment with your answers below.