The days of traditional advertising campaigns that rely on guesswork and intuition to make spend decisions are quickly coming to an end. That’s in part because today’s marketers have a powerful tool at their disposal: AI.
AI can help marketers respond quickly to changes in their target audience’s needs by processing large amounts of data and providing insights and recommendations in real-time. This empowers them to create and implement data-driven marketing strategies that are more effective and efficient than traditional methods. With continuously-learning algorithms, marketers can run scenarios instantly and get prescriptive and predictive assistance in their decision-making.
Real-time marketing optimization for better results
Imagine you are a brand leader for a new energy drink company. You have just launched a campaign aimed at millennials, but you’re not seeing the results you were hoping for. With traditional marketing methods, you would have to wait for weeks—in reality, even months—to get a report on the campaign’s performance. And by that time, it’s often too late to make any changes.
Certain AI and machine learning platforms allow daily, real-time data input which, in turn, generates weekly performance reports. That means you can see which ads are resonating with your target audience and which ones are falling flat so you can adjust your messaging, targeting, and creative execution on the fly to optimize your campaign for better performance. Algorithms can also analyze market and societal factors to provide you with insights and recommendations for adapting your marketing mix. So if a new trend emerges among millennials, it can help you identify it and adjust your strategy accordingly.
So let’s say that there’s a new trend among millennials towards plant-based diets and sustainable living. As a brand leader for a new energy drink company that targets this demographic, you might be wondering how to tap into this trend. By analyzing sales and marketing data, AI can more quickly identify patterns and insights that reveal the motivations, preferences, and needs of this audience segment so you can adjust your marketing mix to align with this trend.
By leveraging the processing power of AI, marketers can stay agile and responsive in a fast-changing digital landscape. With the rise of new technologies, platforms, and consumer behaviors, brand leaders need to be able to adapt quickly and experiment with new approaches to deliver better performance and results. AI-powered marketing optimization allows decision makers to test and refine their strategies in real-time, without having to wait for quarterly or annual reports. This can help them stay ahead of the curve and respond to emerging trends and opportunities before their competitors do.
Keen to know more? Contact us to see real-life examples of prescriptive and predictive assistance derived from the AI and machine learning power of our unique decision optimization engine.