Machine Learning In Marketing
AI and its associated concepts of Machine Learning and NLP are fast affecting all major functions of a business. Digital marketing too can be counted as one of the sectors that have seen the massive influence of ML seep in.
The involvement of Machine Learning into sales and marketing activities was a natural progression considering the ease with which we can store humongous amount of data and process it in much faster time with lower cost tools and resources.
Here are some reasons why machine learning is transforming digital marketing:
1 – Better campaign customization
Traditional marketers from the era of print and TV ads were stuck on broadcasting their marketing message to one and all. However, since the digital customer is different, there is a need for one-to-one engagement for better outcomes. This calls for knowing on a deeper level the presences, needs, and behaviors of the potential customers to send targeted marketing message. Machine learning can help marketers to dig deeper and sense a pattern not readily visible. This way you can customize your marketing campaign for better efficacy.
2 – Dynamic ad display
The recent case of Jivox IQ machine learning algorithm (called as Neuron) providing a much more personalized brand messaging than a brand CPG manager is a case in point where the advantages of Machine Learning can be put to practical use. This way marketers can add a touch of ‘smart’ to their digital marketing programmes and ensure better quality conversions.
3 – Better segmentation
As evident, the ‘one size fits all’ phrase has never been more wrong as with the digital marketing ecosystem. Hence marketers have employed segmentation to show the relevant ads to the right set of people at the right time. While you may create broad segments, in order to create micro segments for better targeting you would need the incredible data processing and insight generation prowess of machine learning.
What does this evolution means for marketers?
Does this mean that marketing automation combined with machine learning will throw the careers of marketers off-balance? Of course not. It will simply mean that marketers will be spared the labor of manually processing data, going through tons of reports, sensing patterns, uncovering insights, and aiding in management decision making.
All this will now be handled by the Machine Learning algorithm in a much more effective and swifter way. They can enhance their job responsibilities to creating media strategies, identifying effective marketing channels, and trying to understand customer behavior, and create more appealing marketing campaigns.
Machine Learning is clearly revolutionizing the world of programmatic marketing. It is affecting every function of marketing – right from what flavor of marketing campaign to be directed at which customer segment, to a new way of telling brand stories.
These reasons clearly outline why marketers can no longer shy away from embracing Machine Learning to give their digital marketing campaigns the much needed competitive edge. Adopt ML into your marketing mix and see how your outcomes will be radically different from those driven by traditional marketing approaches.
