According to the World Economic Forum, we’re about to enter a phase of unprecedented technological advancements. It’s going to be a revolution never seen before in the world of business, finance, marketing, sales, and advertising. The Fourth Industrial Revolution builds upon the current digital revolution, and it all hinges in artificial intelligence.
AI is dramatically transforming the way organizations do business and advertise. It’s this very technology that’s powering the transformation that continues to unfold. And there’s no area that’s not feeling the powerful effects of this development.
In this post, Veloxy shares a few ideas on how you can leverage AI to supercharge your advertising.
AI Isn’t Just a “Good to Have Technology”
It’s extremely hard today to find any organization that’s not leveraging AI in some way. According to Deloitte, AI and other advanced capabilities have permeated society. Not only is it transforming ecommerce, it’s also causing ripples in the hospitality industry. It’s also empowering the healthcare industry. Likewise, today’s manufacturing and warehousing can’t survive without it. Even banking and insurance are using bots to automate tons of repetitive and menial tasks.
Not surprisingly, the world of advertising hasn’t been left behind. Advertisers everywhere have realized that AI is way more than a nice-to-have piece of technology. It’s a massively powerful asset that can help catapult their efforts to phenomenal performance. The tool has evolved into an essential item found in the toolkit of every advertiser today.
AI Has Placed Enormous Power in the Hands of Advertisers
Advertising professionals have learned they can achieve amazing results with this transformative technology. It’s placed a massive amount of power in their hands. And if anyone thinks this is merely a fleeting fad, they should think again.
Thanks to AI, advertisers are spending much less time on activities such as unifying data. Also, organizing and analyzing insane amounts of data is a breeze these days.
In addition, these professionals are turning to this type of tech when it comes to personalizing customer experiences. Everyone that shops online has AI to thank for the smoothness of the overall shopping experience.
Have you noticed how search engines, particularly Google, tend to show you items you’ve searched for in the past? You’ve also likely noted that search results are becoming more personalized by the day. Google knows what content is important to you and serves you ads relating to those needs. The real power behind this intelligent personalization of advertising is AI. Advertisers are also using the technology for optimizing the advertising mix.
Let’s expound a bit on how AI can help you revitalize your advertising.
3 Ways You Can Supercharge Your Advertising with Artificial Intelligence
- Data Unification and Identity Resolution
- Personalization of Customer Experiences
- Optimization of the Advertising Mix
1: Data Unification and Identity Resolution
One area where AI comes in handy is customer identity resolution. Consumers are spending lots of time across channels doing this or that. And they’re accessing these channels across different devices. In the process, tons of valuable data is getting created.
Sometimes a consumer may start buying an item using a smartphone. But they might complete the transaction using an iPad. Did you know that nearly 65 percent of consumers actually use more than one device to complete one purchase? But AI would easily notice that the two transactions appearing on different devices actually relate to one individual.
Now, sorting through all this data manually can be extremely exhausting and time-consuming. But with AI, both small and large businesses can scrutinize the resulting heaps of data quickly and accurately
With this amazing tool, your business would serve only ads that are relevant to each shopper. And if a customer finally buys an item, the system can automatically stop showing them that ad.
2: Personalization of Customer Experiences
Unifying customer data across devices and channels helps you manage your customer data incredibly easier and faster. But that’s not the only reason to unify all the data being generated as people shop.
In the digital age, customers are getting personalized advertising almost everywhere. Personalized advertising is particularly appealing to millennial shoppers. This category of consumers uses copious amounts of modern technology all the time. As a business owner today, you must devise strategies to tap into this vast consumer base.
Businesses everywhere are serving personalized ads aimed at helping these people satisfy their needs conveniently. They’re making it super easy for them to take action on the ads they’re seeing. The customer can simply click on an ad and effortlessly complete the purchase.
As you serve personalized ads, you’ll end up with tons of relevant data. In the past, it took brilliant data analysts forever to analyze such data and spot important trends and insights. With artificial intelligence, however, you can easily display personalized ads at scale and similarly manage the resulting data.
3: Optimization of the Artificial Intelligence Advertising Mix
Before the emergence of artificial intelligence, it was extremely difficult to determine the real impact of specific channels. Businesses understood they needed to advertise, and they set aside a budget for it. Unfortunately, knowing what channels delivered what numbers wasn’t always easy.
But today, it’s easier than ever before to access your advertising mix data. Thanks to AI-powered attribution modeling, tracking customer-ad interactions across channels is a breeze.
Businesses are now continuously accessing accurate insights about what channels, ads, and tactics deliver the best results. With such information, you’ll stop guessing how best to spend your advertising dollars. Instead, you’ll easily develop a data-driven approach for making such decisions.
Final Thoughts on Accelerating Your Advertising with Artificial Intelligence
Technology has always impacted the way business and society in general work. But nothing has ever shifted the dynamic more than artificial intelligence. And whether you’re a small or large business, you can tap into the massive potential of this technology.
You can use AI to resolve customer identity across diverse channels and devices. Also, it can help you offer your customers personalized experiences that’d make them keep returning. In addition, optimizing your advertising mix becomes much easier with AI. It’s critically important that this transformative technology become an integral part of your overall advertising strategy.
Research reveals that businesses which commit to getting their workforce to collaborate with AI have more chances of long term viability and success. It’s very likely that they survive upcoming AI disruptions across various industries.
Join the artificial intelligence bandwagon today with systems like Veloxy Engage and Veloxy Mobile which use AI to provide sales teams with relevant information for their next task. This depends on factors like where they are at the moment and the context of their current objective. What’s more, they can help businesses understand their customers better by keeping track of their activities and generating forecasts that will improve sales overall.