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

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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 enhance every step of the customer journey. AI is used to forecast sales, deliver personalized website experience, offer 24/7 customer service via chatbots, and optimize ROI via programmatic ad targeting. Leading consultants like Deloitte, McKinsey and Company, Bain and Company, EY LLP, and Boston Consulting Group have been researching to identify the role of artificial intelligence in marketing. Let’s look at what these leading consultants say about the usage of AI in marketing. Deloitte: “Deliver personalized experience at enterprise scale using AI” 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. Marketers cannot process tons of data about all their customers at one time. That’s why they have been dividing customers into different segments (based on characteristics, browsing behavior, and purchase history). However, that might not be enough. Customers now demand brands to act on their needs, just like they are treated by their favorite staff at their go-to restaurant. It is challenging to offer this type of personalization at an enterprise level. That’s where artificial intelligence can help businesses deliver those experiences to millions of customers at a time. 56% of marketers believe AI can help yield better engagement with customers and prospects. Companies like Omniconvert are already using artificial intelligence to deploy more than 500 new automated experiments every 4 hours. Deloitte says , “Artificial intelligence and machine learning can make decisions in the moment …

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What leading consultants say about the usage of automation in marketing

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30-second summary: As per the CMO Survey Report 2020 by Deloitte, the implementation of AI and machine learning is likely to grow in three years to 3.5. As per an article by McKinsey & Company, organizations introducing technology to sales can find ways that deliver double-digit gains in return-on-investment. Automation is possible in 30% of sales activities. The most recent AI survey by Bain and Company analyzed that organizations that make use of AI were 4.2 times more likely to have access to standard tools and technologies than the others. A study co-sponsored by EY in 2020 revealed that 85% of participants have already implemented AI within their organizations and expect to use AI for new use cases in the coming years. According to a survey by Accenture, around 83% of more than 6,000 businesses accepted that technology is a crucial part of the human experience. As per a recent …

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5 tips to accelerate your company’s AI implementation

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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 …

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How AI fits into the martech landscape

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30-second summary: Today, artificial intelligence, sensors, and digital platforms—and an explosion of data—have already increased the opportunity for learning more effectively; but competing on the rate of learning will become a necessity in the 2020s. The Lean AI Autonomy Scale serves as a framework for assessing how the different capabilities of martech vendors stack up with AI in the industry. All major ad platforms and exchanges are powered today by a dizzying array of complex calculations with the goal of delivering your message to the right audience at the right time — and encouraging people to take an action, buy a product, or a host of other outcomes a marketer might be looking for. Today, we’re at a place where buy-side solutions are emerging that operate a layer above the platforms themselves, working to orchestrate your spend, targeting and even creatives across channels. A range of emerging vendors are out …

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How Adobe uses AI internally to drive growth

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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. …

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7 enterprise level providers of AI-enabled marketing solutions

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30-second summary: We provide seven examples of enterprise-level providers of AI-enabled marketing solutions as well as case studies for each. Each of these companies are leaders in their respective category, with B2B and B2C organizations each benefiting from their AI-enabled solutions. This list is not inclusive of every enterprise-level provider, but is meant to give mid-to-enterprise-level organizations an sense of the best-in-class tools that exist in the market today, and how organizations are using them to improve their marketing, sales, and customer experience initiatives. As part of our ongoing coverage of artificial intelligence (AI) in marketing, we’ve compiled a list of ten enterprise-level providers of technology solutions that utilize AI in some capacity. This list covers key categories within the martech space including digital asset management, marketing and sales enablement, customer experience/engagement, and account-based marketing. This list is not – by any stretch of the imagination – comprehensive in terms …

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Top 10 marketing-related AI thought leaders to follow

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30-second summary: AI can help marketers deliver better overall customer experiences across all digital channels. The key to success is in using it logically, ethically and in key areas where it can assist, save time and resource and help scale campaigns and performance. To gain a better understanding of the benefits to marketing it is best to build your knowledge from a wide range of perspectives to identify the best use cases. We look at 10 influencers worth following to get a good handle on how AI can and should effect the marketing sector. Adoption of Artificial intelligence (AI) is growing worldwide, with a recent IDC report identifying the ability to deliver a better customer experience, greater employee efficiency and accelerated innovation as the leading drivers for adoption. AI now powers marketing processes across the customer journey, from insights, search optimization and content marketing to personalization conversion optimization, predictive analytics, …

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A Complete Guide to AI Digital Assistants for Marketers

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If you aren’t willing to embrace AI digital assistants as a marketer, you’re going to have a tough time competing with everyone else. While you’re drowning in the tsunami of daily, weekly, and monthly tasks, your competition will swim laps around you. What if you could: Spend more time in your zone of genius. Stop feeling overwhelmed by your workload. Boost your productivity by 80% . Create a personalized experience for your audience. Increase your ROI with only a few clicks of your mouse. Just like Alexa brings you the best jams on-demand and Siri helps you find the nearest Starbucks, AI digital assistants can help you become a better marketer. In this guide, we’ll discuss the benefits of AI digital assistants and the tools you can use to put your marketing tasks on autopilot. But, to do that, we need to first look at what AI personal assistants really …

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How to Use AI SEO to Improve Your Website

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The internet has become the go-to source for everything from trivia about celebrities to fixing our kitchen sinks. But AI SEO may be changing the way marketers help their sites rank high on search engine results pages (SERPs) . Failure to rank may result in your business missing out on valuable search traffic. Which means far less revenue for your business. For a long time, you could get by with basic SEO strategies. But not anymore. With artificial intelligence (AI) taking over the world, you need to up your game. What does that mean for your SEO strategy? What is AI? Artificial intelligence (AI) is an umbrella term that covers several different technologies, including machine learning (ML), computer vision, natural language processing (NLP), deep learning, and other, still emerging technologies. What’s the point of AI? AI has one principal goal – to perform (often laborious and mundane) cognitive tasks better …

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Real-time digital insights & automation: Powering digital marketer’s performance

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30-second summary: Too often, the budget is wasted because the marketer driving the ship isn’t keeping pace with modern consumer behavior. The coming year holds great promise for digital marketers. In this article, we’ll take a look at two areas of great opportunity—two places you can focus to tackle these challenges head-on: real-time insights and real-time automation. It’s about truly understanding your customer’s need at that moment—even if there isn’t a human on the other end of the interaction. Last year digital marketers wasted on average of 26% of their budgets on ineffective channels and strategies {Rakuten Marketing}. While there are many different reasons and ways in which marketing strategies underperform, I believe there is a common thread woven through many of the campaigns we see today. Too often, the budget is wasted because the marketer driving the ship isn’t keeping pace with modern consumer behavior. As consumers evolve, so …

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Key insights: AI Summit highlights, microbrowser advertising, and customer engagement sweet spots

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30-second summary: We’re not in a “post-COVID” world, we’re in a “coexisting-with-COVID” world where essentialism and humanization will matter the most Now is the time for marketers to dive into their data and reconsider the technology they use to understand the customers’ pulse Emerging habits of the “Interim Normal” The common line of vision for the bigger picture of the oncoming times will be based on hyper-targeted advertising and marketing Keeping it light, engaging, and interactive isn’t an option anymore – it’s a prerequisite for brands wanting to succeed at marketing and advertising More on the big-four of microbrowser advertising, the sweet spot for engaging your audience globally, and the secret sauce to marketing success in emerging times The answers lie in the data and how it is digested and applied will continue to play a vital role. Today we’ll take you through key takeaways from our AI Summit, new …

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