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Thursday, September 19, 2019
AI Advancements in the Marketing World
Although Hollywood movies and sci-fi novels have depicted AI as a man-killing robot poised to take over the world, the reality is that AI is quite the opposite of scary. It is providing many benefits to almost every industry imaginable. And for marketers, it’s boosting campaign performance, improving ROI, and putting some much needed dollars back in the pockets of publishers to create more top-notch content. Here are some AI advancements that will continue to develop into 2020.
More Advanced Data Processing
As humans, we are unable to process massive amounts of data quickly. Machine learning algorithms and AI technology is quickly catching up with the volume of data produced, and vastly improving ad performance. The numbers don’t lie. A recent Omnibus study found that:
84% of advertisers agree that AI and machine learning will improve performance.
While marketers have always used data as much as they could, many ad campaigns still involve educated guesswork from marketers. However, the growth of AI in the newyear will allow for more truly data-driven marketing campaigns, where AI will allow for continuously better performance optimization -integrated into each ad campaign.
The AI-Powered Fight Against Fraud
Fraud has become an epidemic plague for programmatic advertisers. It hit some big players hard when fake traffic bloated ad performance and decimated budgets for brands like JPMorgan Chase, Visa, Amazon, and KFC. It seems no brand is safe; fraud is packing quite the punch across all industries. While many advertisers rely on third-party solutions (like comScore and DoubleVerify) to identify and circumvent fraudulent activity, these companies can’t obliterate fraud on their own. Their success depends on correctly identifying malicious activity, which is notoriously inconsistent, erratic, and elusive.
Luckily, proactive fraud mitigation is one of the many things that AI can automate. It continuously monitors patterns in inventory supply, bid opportunities, and the behavior of individuals to quickly discover malevolent threats and take proactive measures – like blacklisting sites, filtering non-human activity, and shaping supply – to cleanse our bid stream and protect your campaign. And because AI is constantly learning, it can also identify and evade budding fraud practices not yet accounted for by pre-bid solutions to provide the timeliest protection unavailable elsewhere.
Marketers are on an endless quest to understand the true value of each action that a prospect or customer takes, in hopes of addressing each person accordingly.
Without AI, marketers know current predictive characteristics. We can know someone’s gender, income, age,and shopping preferences. But with AI, we get a real-time, dynamic understanding of people that can determine motivations, actions they are likely to take, and when they will take them. With AI, our ability to differentiate and understand the true value of an opportunity is never as good as it is today.
Journey Optimization with Advanced Algorithms
Advertisers use a variety of creatives for the success of their digital ad campaigns. For AcuityAds, our ourney Compression Algorithm helps marketing campaigns to shorten the consumer journey by optimizing towards the shortest path-to-conversion. Consumers are mapped across a wide array of devices and platforms, and our AI helps to choose the ad format that best serves the specific campaign. Our technology sees algorithmic optimization of the consumer journey by understanding the best sequence of creatives to expedite the conversion process. The result is an AI-powered smarter, faster, and more efficient way to connect with audiences.
The ability for AI to automatically characterize audiences will result in marketers truly grabbing audience attention by:
- Precisely determining a person’s needs and desires at the moment it matters
- Quantifying his or her value to a marketer’s objectives using advanced decision science to understand consumer propensity to convert
- Bidding accordingly for their impression in real-time
This completely changes how marketers identify people through their consumer journey. There’s no guess work, and no more creating segments for various funnel stages. It gives campaign managers and traders opportunities to spend time on the right things, rather than repetitive processes. The result? Much happier clients.
Sponsored Post Brought to you by AcuityAds