October 10, 2018
The State (and Future) of Digital Marketplaces
The great AI in marketing conversation of 2017 continues. Some marketers are on board with the idea; others need more convincing. How, exactly, can AI be applied to help move marketing forward and bring better results, but how can we be rest assured that AI won’t overtake marketing jobs or be too “controlling”?
Let’s digest 3 recent articles from across the web to better understand the opportunities and possible missteps of AI as it converges with marketing:
Falon Fatemi comments that “While many believe that AI has the potential to render human intelligence obsolete, this is far from the truth. Quite the opposite, AI advancements will only underscore the importance of human intelligence.” True, AI is enabling marketers to bring something to marketing that is often forgotten: authentic interaction between brand and consumer. Authentic interaction is rooted in how brands are communicating with consumers with every message sent. Using an AI tool incorporated into their marketing stack, marketers can listen to, understand, and cater to consumer needs, desires, and preferences better than ever before, swaying the consumer to perceive the brand as an ally that truly “gets” them. It’s from this authentic interaction where affinity and trust are built and loyalty ensues.
So, AI is not replacing humans in marketing; it’s equipping them to make more informed decisions about how to best communicate with consumers to get the result they’re looking for.
“#AI advancements will only underscore the importance of human intelligence” @falonfatemiClick to tweet
Contributor AJ Agrawal explains that “artificial intelligence streamlines the process of getting the right message to the right person at the right time.” This concept of “right person, right place, right time” stems from the idea that personalization is about more than just “[first name] [last name]”—or worse, “send all 25-40 year old females X message,” a result of demographic segmentation methods. Real personalization is about the individual and their unique behaviors and preferences and what those things say about how they want a brand to interact with them—so that they can get a better experience and so that the brand can reap the benefits of that. AI-powered consumer messaging platforms can help marketers communicate with each consumer as the individual they are, taking their individual preferences for message content, message channel, and message send time into consideration.
“#AI streamlines the process of getting the right message to the right person at the right time” @ajagrawal24Click to tweet
Andrew Stephen urges that “Visionary marketing leaders need to understand AI and how it impacts both marketers and consumers.” This has never been more true, as Harvard Business Review recently released research noting that 57% of CMOs stay in their roles for 3 years or less, and more than 40% of CMOs stay in their roles for 2 years or less.
One culprit is the CMO’s failure to embrace next-gen technologies, like AI, while their competitors are—and are seeing stronger marketing metrics as a result. Case in point: there’s no longer time to push off AI as something to think about and act on in the future. Yes, the future is now. With the plethora of products & service brands that are in front of consumers today, consumers literally have their pick of the litter—so why would they go with you? This is exactly the mentality that CMOs must carry in today’s crowded market, and further, they must prioritize delivering unprecedented consumer experiences, where consumer preferences are inferred and met and a stronger brand-consumer relationship results. AI is the gateway to connecting with consumers on a deeper, more meaningful level.
“Visionary #marketing leaders need to understand #AI & how it impacts both marketers and consumers” @AndrewTStephenClick to tweet
Want to hear more? Gain more learnings about how artificial intelligence can power your marketing and impact the things you care about, like engagement, conversion, and retention, by checking out The Kahuna Blog. Simply click the button below!
A Bi-Weekly Newsletter Focused Exclusively on Online Marketplaces