Using Artificial Intelligence for Marketing Part 2

Welcome to part 2 of 4 of using artificial intelligence for marketing. A small review to start.

There are 3 main types of Artificial Intelligence:

  1. Machine learning techniques: using algorithms to learn from previous data or successful campaigns and adapt to current trends in the marketplace.
  2. Applied Propensity Models: used to predict events based on the probability to convert into sales.
  3. AI Applications: used to perform tasks that can also be done by humans. ex. answering human questions, writing content.

Each one has different advantages and disadvantages. Some are better for attracting customers; others conversation or re-engaging drifting customers. Today we are focusing on the first four Applied Propensity Models.

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The First Four Propensity Models:

  1. Smart Content Curation
  2. Programmatic Media Bidding
  3. Ad Targeting
  4. Predictive Analytics

Smart Content Curation:

Smart Content Curation allows for better engagement on your site by showing viewers relevant content. ex. Amazons “this customer allow bought this” feature. Smart content also applies to blog content and personalized site messages.

This is a great feature to use for subscription-based businesses like Netflix, CraveTV, Spotify. Just like programmatic marketing, smart content learns the more you use it. The more times the program is used, the better it’s learning capabilities. Learns user’s interests, hobbies, common purchases and recommends similar products or services to the client.

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Smart Content Curation falls under Reach of the RACE framework.

Reach: Attracts visitors with a wide range of inbound techniques.

For more information regarding Smart Content:

Interactive Content Marketing

Programmatic Media Buying:

Programmatic Media Buying is a growing marketing tool that uses search history, caches, hobbies, interests etc to offer products and services to potential clients that are most likely to be purchased.

There are risks involved though. For example, Google’s brand safety scandal. This scandal revolved around ads placed programmatically though Google’s ad network appeared on terrorist’s websites. Ask questions, enquire on safety protocols and ensure that your broker is trustworthy.

Artificial Intelligence helps here by recognizing questionable sites and removing them from the list of sites ads are placed on. Programmatic media buying falls under Reach of the RACE framework.

Reach: Attracts visitors with a wide range of inbound techniques.

For more information regarding programmatic marketing:

Programmatic Marketing; How Can It Help Grow Your Business?

Ad Targeting

Machine-learning programs can run through large amounts of data to establish which ads perform best on which people and at what stage in the buying process. Using this data, they serve the ads with utmost efficiency to the right client at the right time.

Using machine-learning to optimize thousands of variables, you can achieve better results. Better ad placement. Better content. Better conversion rates!

Ad Targeting falls under the ACT portion of the RACE framework.

Act: Draws visitors in and makes them aware of your product

Predictive Analytics:

Predictive Analytics are used to predict the likely-hood of customers to convert or become repeat customers. Uses analytic data (Google Analytics) to predict how customers will behave. For example, if you buy groceries on Wednesdays, ads will be served to you Monday to Wednesday of currents sales at your local grocery store.

Predictive Analytics are only as good as the data supplied to it. If there are errors in your data or a high-level of randomness, the program will not be able to make accurate predictions.

Predictive Analytics falls under ACT of the RACE framework.

ACT: Draws visitors in and makes them aware of your product

 

Thank you for reading!

Feel free to comment with your thoughts and ideas! I always welcome new ideas.

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Allen, R. (2017, June & July). 15 Applications of Artificial Intelligence in Marketing. Retrieved July & aug., 2017, from https://www.linkedin.com/pulse/15-applications-artificial-intelligence-marketing-robert-allen
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