How Adobe uses AI internally to drive growth

{ object.primary_image.title }}

30-second summary: Adobe’s attribution modelling is increasingly data-driven with an incremental approach to assigning credit to touchpoints AI feeds into propensity modelling to predict the likelihood customers will purchase, upgrade, churn Tools and techniques are getting more sophisticated with AI, but there are always bumps in the road Understanding your business, as well as a basic understanding of data science are key marketer skills in the AI era This past Thursday, Adobe’s Director of Business Strategy Don Bennion gave an enlightening presentation at our online AI in Marketing event . The talk offered practical advice and examples of how Adobe has increasingly used artificial intelligence and machine learning in their internal activities in recent years. Their practices are borne from the predictive power of customer experience metrics and their own data driven operating model (DDOM). The company is now moving to make these tools and techniques available to external partners. Here are my key takeaways. AI and Attribution Attribution was really the first area Adobe started using AI and machine learning. Moving away from the simple models such as ‘first click’ and ‘last click,’ and later ‘u-shaped’ and ‘linear’ models, the incorporation of AI and ML improved Adobe’s models massively. Bennion highlights two ways to assign credit in attribution: Influential: when touchpoints are hit, all credit is shared to these touchpoints Incremental: calculates how much of the credit should be assigned back to media and marketing Adobe moved into the incremental area. The hypothesis is that if Adobe stops all their marketing efforts, they would still sell products. After all, customers make purchases which are at least partly based on factors like brand loyalty and word of mouth. Using AI trained on their internal data, they were able to establish a baseline of 50% marketing value from each purchase. From here, they could then weight all their touchpoints individually and – crucially – cut marketing costs, or better allocate it, more efficiently than would be possible by assigning credit with the influential method. AI and Personalization Another area in which Adobe are incorporating AI is in personalization. ‘One to one marketing is the nirvana,’ Bennion says. ‘But segmentation is still an important tool for us.’ In the past, Adobe used to segment from attributes and behaviour. This has value but is clearly limited in the big data era. Adobe’s response was to use AI to develop propensity modelling . Adobe …

Read Full Article on Clickz

What leading consultants say about the usage of AI in marketing?

{ object.primary_image.title }}

30-second summary: In Deloitte’s 2019 CMO Survey Report, 56% of participants anticipated using AI for content personalization. 33% of respondents foresee applying AI for improving marketing ROI by optimizing marketing content and timing. Mckinsey’s survey found that 44% of companies reduced operational costs and increased business revenue by using AI in marketing. The Bain and Company found that marketing insights gathered through new machine-learning capabilities helped gain 10x in marketing performance. The company also saw a 25% increase in additional revenue through cross-selling. An EY study of CEOs and business leaders reveals that 62% of respondents believe artificial intelligence will have a significant impact on creating efficiencies at their company. In a survey conducted by BCG, 90% of respondents agreed that artificial intelligence represents a business opportunity for their company. However, 70% of companies report minimal or no impact from AI so far. Marketers have started using artificial intelligence to …

More

Exponea clarifies the differences between CDPs, DMPs and CRMs

{ object.primary_image.title }}

30-second summary: Exponea created a Knowledgecard, CDP vs DMP vs CRM, which serves as a handy cheat sheet to help clarify the definition and purpose of each martech solution. Customer Data Platforms (CDPs) collect first-party data from online and offline sources in real-time, creating a unified view of each customer that enables ultra-personalized targeting for marketing campaigns. Data Management Platforms (DMPs) segment anonymous third-party data from other websites that can be used to create audience segments for marketing campaigns. Customer Relationship Platforms (CRMs) are utilized by customer-facing teams, including sales, customer support, and client/customer advocates to facilitate managing a company’s relationships with existing or potential customers. CDPs, CMS, SaaS… the world of marketing technology (martech) is punctuated by acronyms representing a host of technologies that can be confusing to parse through, particularly when companies are evaluating what they need to add to their tech stack. Chiefmartec’s infamous graphic, the Martech …

More

Five examples that demonstrate the value of AI for B2B marketers

{ object.primary_image.title }}

30-second summary: The global AI software market is expected to reach nearly $23 billion by 2025, according to data from Statista. AI offers several powerful functionalities within in ABM platforms to facilitate selling. Predictive analytics, which uses historical data, machine learning, and statistical algorithms to predict future outcomes, it’s particularly useful for campaign planning and optimization. CRM tools like HubSpot and Salesforce Einstein have AI features like predictive analytics and machine learning built in. AI can help brands in heavily regulated industries avoid compliance issues when posting to social media via the use of AI. DAM platforms enhanced with AI capabilities help to streamline and automate many aspects of managing distributed content such as images, video, and other media. If it seems like AI is everywhere these days, that’s probably because it is. The global AI software market is expected to reach nearly $23 billion by 2025, according to data …

More

5 tips to accelerate your company’s AI implementation

{ object.primary_image.title }}

30-second summary: The potential of artificial intelligence is almost boundless. AI solutions are starting to be introduced by organizations across many industries and fields. A strong starting point for any AI implementation is to get buy-in from company decision-makers. If key stakeholders understand AI’s potential, they’ll properly resource any transition. AI is particularly useful in the field of data analytics. If you are going to join the ‘Big Data’ era, you need robust data governance. There’s no one-size-fits-all approach to AI implementation. You need to explore and test the different tools and solutions available to you. Don’t neglect the human side of your business in seeking AI-driven answers to your problems. Make sure you train staff effectively in all automation or AI tools you introduce. It’s not insider information to know the unmatched potential of company-wide AI implementation. Even with all the advancement in recent years, it still feels like …

More

True confessions of a CMO, part 3: Marketing sourced pipeline is bogus

{ object.primary_image.title }}

30-second summary: Too often we self-silo because it’s hard to control and attribute the breadth of potential revenue-generating sources back to each and every activity. But if you want to survive, it’s the job. The ultimate goal for marketing, sales and your entire organization is to achieve predictable revenue growth. Now, with an AI-driven account engagement platform, we have the means to measure our effectiveness, not for attribution credit or as a goal in and of itself, but as a way to optimize our campaigns and budget to maximize predictable outcomes. It’s much easier to predict revenue from a campaign aimed at a small segment of highly targeted accounts than it is from 1,000 leads who filled out your contact us form. Look at account engagement as a critical measurement for your account based segments with respect to timing, specifically how to identify and pursue “in market” accounts. Start with …

More

Key Insights: B2B content marketing decoded, top marketing technologies, and AI spotlight

{ object.primary_image.title }}

30-second summary: Content marketing has the key to a lot of opportunities, NetLine Corporation analysed their first-party data sources and the outcomes strongly support this statement 76% of marketers saw webinars as a good source to drive more leads Ebooks, whitepapers, and guides topped the content demand list, but there’s a twist Who’s most likely to demand more content? C-Suite executives vs Senior VPs The magic time window to reach a CEO was… read on to find out “Content & Experience” technology peaked marketers’ purchase interest in March, April, and May Only 8% of respondents across industries said their AI-relevant data are accessible by systems across the organization AI spotlight: Growth rate, front-runners, and content marketing Recent times have increasingly added emphasis on “adding value” and “being at the right place at the right time”. Today’s article shows exactly how these can be achieved through content marketing, a great marketing …

More

Key insights: Agile marketing adoption, when data doesn’t sing with CX, opportunities lost, ecommerce rises again

{ object.primary_image.title }}

30-second summary: Finance, health, and high-tech are the most keen on planning agile marketing transformation 38% respondents mentioned that internal silos were a top challenge for delivering great CX Customer experience influenced customers more than it would have 2 years back 50% consumers would switch brands or spend less due to a CX that lacked personalization There’s a huge, yes huge gap in the engagement and send out rates clearly indicating that businesses lost out on opportunities to capture their consumers’ attention Given the ecommerce slump in March, April has seen a 43% thanks to users wanting to make purchases and paid advertising. A lot can happen in a week, and a lot has happened indeed. Our weekly key insights this week brings you an eagle-eye view of the marketing space, across silos in customer experience (CX), agile marketing, and lots more. Data and silos in CX According to content …

More

The rise of the AI-automated enterprise

{ object.primary_image.title }}

30-second summary: As part of ClickZ’s AI in Marketing Summit 2020, Brian Solis, digital analyst, speaker, and author, shared his insight into the AI-automated enterprise and it’s role in a post-COVID-19 world. AI can help humans make better decisions, and the post-COVID-19 environment is hastening the shift towards automation to improve marketing, CX, and business processes. Solis reviews the changing behaviors of consumers BC (Before-COVID-19) and AD (after disruption) and provides some critical advice for brands who must adapt in order to survive and thrive. Digital is driving the AD economy, demonstrated by an increase in online/mobile shopping, the use of mobile devices, and a reluctance to shop in physical stores and a strong preference to shop for and purchase products online. As part of ClickZ’s AI in Marketing Summit 2020 , Brian Solis, digital analyst, speaker, and author, gave a keynote where he shared some of his thoughts on …

More

How to Choose the Right Facebook Attribution Model

{ object.primary_image.title }}

Are you struggling to track the impact of your Facebook ads? Wondering which Facebook attribution model to use? In this article, you’ll discover seven different Facebook ad attribution models to assess your campaigns’ performance. About Facebook Attribution Models The Facebook attribution tool gives you insights into your customers’ purchasing journey and the roles of different […] The post How to Choose the Right Facebook Attribution Model appeared first on Social Media Marketing | Social Media Examiner .

More

17 ways PPC can help your business survive economic crisis

{ object.primary_image.title }}

People are clicking, but are they buying? WHEN will they buy? Are they buying too much too fast? When will stores reopen and foot traffic resume? Consumer demand is evaporating for some businesses, while others may be unable to fulfill orders due to supply chain disruptions or shipping challenges. Dynamics shift daily, if not hourly. Now some good news: Search marketing is adaptable, measurable, and when done correctly, cost effective. Even with shifting data models, PPC pros can use timely trends to guide strategic decisions. COVID dashboards Tinuiti has created a useful dashboard that provides a look at trends in paid Facebook media since the pandemic took hold. It requires you to sign up (free, with your email) and offers insights into media spend by key verticals. Tinuiti advertising spend tracker shows changes in ad spend week over week and month over month. The dashboard is regularly updated with week-on-week …

More

Subscribe to our newsletter

Join our newsletter and never miss out trending marketing news.

HitcountVariables(pk=5304, ajax_url='/api/hit/ajax/', hits='2')