This is the second post in a series on Artificial Intelligence's implications on marketing, analytics, and you. We will cover a definition of AI, what it means for marketers, marketing applications, and how to implement AI technology in your company. Read the first post, "What is AI? A Marketing Primer" here.
Marketing's Biggest Challenge: More and More Content
Today, the average marketers’ biggest challenge is maintaining market share in the saturated digital landscape.
If marketers do not consistently advertise and spread their message, they risk losing ground to other large competitors with big budgets or smaller, more nimble startups.
Making matters worse, brands must keep up with dwindling consumer attention and the increasing competition.
One-hundred years ago, marketers only had three different media options: print, radio, and direct mail. Television became popular in the 1950s. A few more decades later came the internet, bringing websites, banner advertising, and search.
But things took off from there: email, Facebook, Twitter, online video, LinkedIn, Pinterest, Instagram, Vine, Snapchat, and more all came onto the scene within the past 15 years.
In fact, we have found that the amount of new content marketers have to create has increased a staggering 100-fold in the last 20 years.
Simply put, we went from producing approximately 10 unique pieces of marketing content per year, to needing 19 different content types, and 14,000 content pieces per year.
Due to this, we have no reason to believe the introduction of new media platforms will slow down.
Naturally, the need for more content will only increase along with the need for each piece of material to be tailored specifically to the platform responsible for distributing it as well as the associated target audience.
Scale Marketing with Artificial Intelligence
It is not scalable or sustainable. At least not without artificial intelligence.
With AI technology, marketers can collect, organize, and analyze data; find insights, automate and apply them to future campaigns.
Yet, creating enough content is not enough. Better marketing requires offering value and being relevant to capture and keep the customers attention.
Due to this, companies and industry leaders are adopting a more scientific process to their marketing strategies: analyze historical data, make a hypothesis, test, and repeat.
However, the amount of data available makes it impossible for a human to analyze and make decisions in real-time. While they currently have to wait at least several days campaign data to be analyzed, machine learning technology enables real-time metrics that can automatically be tested to improve the campaign immediately, as well as over time.
Therefore, through the power of AI, content marketers can optimize messaging, save time, and scale content. This creates the potential for more free time to allow marketers to ideate new campaigns.
As John Hagel of Deloitte points out, “Instead of worrying about potential job losses, brands should thank AI for freeing up so much time that can now be spent on creative work.”
With AI, content marketing will rise to a higher level because marketers can be less in the weeds.
In fact, since 2011 Chief Marketing Technologist Scott Brinker has released a supergraphic (or the ‘Martech 5000’) that entails all of the AI technologies available for that year.
This past spring of 2018, he found that we now have ‘6,829 marketing technology solutions’ coming from 6,242 “unique marketing technology vendors.” This is a 27% increase from last years 5,381 solutions.
Each of these technologic solutions is categorized according to its function. This allows marketers more free time to create content and campaigns while also assisting in identifying their target audience. The categories are labeled as the following:
Advertising and Promotion
Content and Experience
Social and Relationships
Commerce and Sales
The future marketing landscape will look only slightly different than it does today.
The main difference will be in the level of productivity for marketers. But we know that with more productivity comes the potential for more creativity, more freedom to think outside of the box to create innovative and user-generated content.
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With the focus of marketers set on creating content, AI is the perfect team-member to find new and interesting marketing/advertising opportunities