A weekly review of news articles regarding the application of artificial intelligence to business domains by SpectData.
25 Mar 2019
Artificial Intelligence is the newest kid-on-the-block that comes as a single package containing the abilities to think like a human- voice and image recognition, semantic research, Machine learning and Deep Learning.
Written programs in AI, mine from the data available from Big Data to apply behaviour analysis and retrieve behaviour patterns. These patterns help to customise marketing strategies to target the right audience. Predictive service analysis help businesses to substantially increase their revenues by simply working on data-driven insights
The emergence of Deep Learning tech has seen a marked increase in personalized marketing messages and targeting the right consumers
Influencer marketing is now gaining importance worldwide as one of the most effective strategies that has an almost immediate ROI (Return on Investment). The capital spent on influencer marketing is estimated to be between $5 billion and $10 billion in 2022, as forecast by Insider
The actual problem of marketers is inability to quantify their efforts. This problem is easily solved in the real world through Artificial Intelligence. Philo’s head of Marketing has used AI to assist him in Influencer marketing and has met with enormous success.
One of the key processes in a company is how it captures historical data in business. All data including clicks are essential in converting potential enquiries into business transactions. And this outcome is attained by employing AI to analyse the gathered data.
Data gathered may be structured or unstructured and AI need both types of data for accurate prediction. Once the data is collected, it is fed into the AI(programs) that is uniquely setup for each business. Over time, AI evolves from a basic system to an advanced predicting machine that makes Influencer marketing campaigns a powerful marketing tool.
Artificial Intelligence gets a data driven analysis of the customer who drives the market. AI finds browsing and transaction patterns to later predict the buying and selling patterns of a customer using deep learning and machine learning.
Deep learning is the art of identifying pattern in media such as images,video and sounds
The ability to do semantic research and machine learning makes it as an asset to marketing
AI helps the company’s business by knowing the customers’ needs and offers solutions using strategical techniques. AI can predict the rise and fall of a company using strategic analysis of data. AI content writing helps the companies to build a strategical pattern for the company to work with.
It manages the P.P.C(Pay Per Click) links and these links play a vital role in increasing sales.
AI is also capable of predicting when a subscriber is likely to withdraw from a service or renew a service, from data available in a company.
As businesses look to increase their spend on influencer marketing, they should also be increasing the expectations they have about results.
Commentary about second article
Influencer marketing has given rise to a strong social media presence as one of the marketing strategies with brand marketing being the most profitable one.
Reports from ‘Insider’ indicate that on an average, businesses will spend up to $10 billion by 2022, which is an unbelievable compound annual growth rate (CAGR) of 38%
Head of Marketing of one of the most popular streaming service Philo, Nii Mantse Addy states that the use of AI in his influencer campaigns has proven to be his most potent asset, when it came to increasing sales
Ricky Ray Butler, CEO of BEN, an influencer and entertainment marketing company, believes that AI enables the brands to go deeper in the marketing funnels. He also believes that Deep learning is going to change the face of marketing campaigns by enabling business predictions based on sales and not views.
AI evolves over a period of time. The more information is gathered by AI, the more smart and accurate it becomes. As per results of research by Nielson, Americans spend almost 12 a day interacting through social media. This generates a humongous stash of data that can be fed to AI.
You must make sure that the AI or the algorithms that you use for marketing are customised and tailored to your company’s process. Either you can get it done internally or outsource it.
Creating an accurate implementation of customised AI and quickly scaling it to the unique requirements of your business is a sure formula for success and gives maximum ROI(Return on Investment)