Artificial Intelligence has changed business, marketing, and perceptions of life in the most effective way. AI is growing its popularity in business and advertising, its decision-making abilities, and understanding consumer requirements. The Role of AI in the New Advertising Landscape has become essential and immensely crucial. The emergence of this new technology has changed the way of doing business and gaining popularity by keeping up to the consumer demands on a comparatively lower budget. E-commerce is a common platform for the new millennials. Its growing demand has encouraged large business houses to look for digital platforms to advertise and sell their products. Technological advancement has introduced Artificial Intelligence in the advertising of products and services on digital platforms. In advertising, a huge amount of data is generated from search, content, and social media platforms. Analyzing them cognitively has become difficult for humans. This makes AI a natural choice in the field of advertising. Now, let us throw some light on the areas where the Role of AI has become invincible and how they are capturing the global market.
Adding value to digital marketer’s life
The Role of AI has become indispensable for the business houses who sell their brands on online platforms. The statistics show that brands who adopted AI for their product marketing predict a 37% reduction in price and a 39% increase in revenue by the end of 2020. The process of analyzing consumer behaviors has become more manageable, and it is helping in understanding the risks associated with investments by making informed predictions. The use of AI-based programs has increased the profit margins with an effective decline in advertising costs on digital platforms. AI can learn the pattern and gain insights from loads of data acquired from the consumers’ use of platforms. The Role of AI in making the business easier for digital marketers cannot be denied due to its immense ability to assess the potential risks and market trends, enhancing productivity. According to a report from Accenture’s management consulting firm, it was evaluated that more than 40% of consumers changed brands due to a lack of personalization or trust in the year 2017. Apart from that, 43% of consumers want to purchase their items from those companies, which offer personalized customer experience. The concept of dynamic pricing is common in digital shopping, where the price of products continuously varies depending upon consumer demands. Some consumers only buy when discounts are available. Thus smart algorithms can increase the efficiency of various devices.
The AI-powered recommendation that understands consumers
Business is all about reading the minds of the consumers and customizing the products according to the demands. In the era of Artificial Intelligence, proper recommendations at the right time are made by the AI-enabled services, which help the customers in their buying decisions. The advancement of technology through AI has helped in capturing the emotions of individuals. The AI-enabled systems monitor the choice of consumers through purchase history. They also analyze the behavior after listening to certain videos or watching an advertisement campaign. Suggesting at the right time according to consumers mentality and choice initiates more amount of sale. In this way, it favors both consumers and the organization by increasing the revenue and becoming helpful for decision making from the consumers’ perspective. The concept of personalization has emerged in the recent past, and people prefer organizations who support this initiative and want to make purchases only from those companies. A typical example can be Amazon, which stores relevant consumer information, including purchase history, product browsing history, wish list for a future purchase, address for delivery, music played, applications downloaded, and features used like eBook platforms, and listening to videos. The search engines are advanced, and they are capable of storing a huge amount of relevant data if the consumer is using the account for a substantial amount of time.
AI introducing marketing automation
Through AI, marketing automation has taken away the burden from the management, who had to spent hours drafting updates for blogs in social media, personal emails, developing advertising copies, and keyword research. Discovering content ideas is a brainstorming job which can now be done through Curata and Buzzsumo. The tool Scripted, uses Artificial Intelligence for connecting freelance writers with businesses. Optimizing the content is essential where MarketMuse uses AI-enabled technologies to compare the knowledge graphs with content inventory for efficient decision making. CaliberMind, another AI tool, can analyze consumers’ persona and then recommend content depending upon the buyer’s journey. Personalized copy for ads is required in the digital platform for making the content dynamic. The use of Persado’s cognitive procedures through natural language processing helps in designing the copy of different advertisements. The use of AI platforms like Cortex and HubSpot’s has truly automated the world of advertising by automatically copying items for tweets and testing the contents.
AI empowering digital marketing
The use of Artificial Intelligence has changed the face of digital marketing, Amazon and Netflix are some of the examples. It is gaining popularity due to increased productivity and return on investment, as identifying the right audience has increased the sales growth. Nearly 51% of decision-makers admit that AI has ensured cost reduction in business. Speech recognition, GPS trackers, and automation systems are some of the examples of AI-enabled services. Digital Advertising is the area where AI has its positive impact, which helped design and frame relevant ads for attracting consumers. Some of the features that are introduced in AI systems are:
1. Use of chatbots- For addressing the customers’ queries and issues, the chatbots are available, which are intelligently programmed to revert to the everyday problems of the buyer quickly. It reduces the cost of hiring extra employees for handling the post-purchase issues. If the query gets complicated, the system assigns a professional to handle the requests. Chatbots are commonly used in several platforms like Facebook messenger and WhatsApp. Chatbots do not need to rest, and they can answer customer queries in real-time. The conversation can be one-to-many instead of traditional one-to-one chatting, which saves a lot of time.
2. Ad optimization-Advertisements must be relevant to the buyer’s interest and dependent on product choices. The use of AI helps in showing fewer ads to consumers, which helps in more ROI for the business houses. In the era of Digital Advertising, content is crucial, and making false promises and fraud through advertisements can cost the reputation. Proper measures are being taken to scrutinize the content and stop its unnecessary usage that creates undue disturbances. Ad optimization has been possible through employee behavior and not by the overall sale of a product.
3. Search engine optimization- Search engines give suggestions and alternatives when words are misspelled. The robust AI algorithms, machine learning, and in-depth web analysis help make the searching process faster. The technology affects how the contents get ranked in order of preference, and the products and brands are found. Natural language processing is common, where we use voice search for searching the desired items. Voice search feature is available in our homes, cars, and offices.
Popular internet web browsers
When speaking about digital marketing and advertising, the popularity of different web browsers over the others needs to be discussed. Some of the most common market-leading web browsers are Chrome, Firefox, Internet Explorer, Edge, and Apple Safari. For iOS platforms, we use Safari, and Chrome is for android. Firefox has lost its popularity after Edge got introduced. Now it is being replaced by Chromium from Microsoft Edge, which is the open-source version of Chrome. Several other web browsers are available that works on mobile phones and laptops for accessing web-based services. The statistics regarding the usage of the browsers and their market share is given below.
In the global context, smartphones have replaced the use of traditional desktops and laptops. In September 2020 Google Chrome for android declared that it is accounted for 32.85 % of the global market share in web browser usage.
At the End of the Discussion….
The Role of AI in advertising and digital marketing is immense, and it has changed the business approach. Artificial Intelligence is the greatest boon in technological advancement, which has influenced lives in millions of ways. Advertising has got a new meaning. The use of the digital platform has mitigated the issues of cross-border business and campaigns, indicating an extensive increase in profit margins and consumer satisfaction. Starting from small businesses to larger organizations, everyone is opting for AI-enabled services due to their ability to process extensive data, identifying customer behaviors, and utilize them as the most valuable leads.