Artificial Intelligence and the Marketing Industry: Friends or Foe?
Artificial Intelligence (AI) has been a hot topic in recent years with the debate reaching fever pitch in 2023 as massive layoffs in BigTech coincide with large investment in AI teams and programs. Many experts across industries now predict that AI will eventually replace human workers as they become more advanced. However, the case is slightly different when it comes to the marketing industry, as AI is not expected to replace human talent, but rather augment it and even make it better. Here’s how:
1. Making better decisions, quicker:
The most successful campaigns are often built on the backs of hours, weeks and sometimes months of grunt work spent collecting and analyzing large amounts of data to identify patterns and insights upon which the creative campaigns are then built. This becomes one of the key areas where AI can assist: helping marketing teams become more efficient by processing these large amounts of data quickly and highlighting the patterns and insights that may have been difficult for humans to discern. This will help marketers make more informed decisions about how to create and execute their campaigns.
2. Better utilization of campaign budgets
AI can help personalize marketing efforts by identifying individual consumer preferences and tailoring messages and offers to them. This will lead to higher conversion rates and better customer engagement. AI is also being used to optimize online advertising campaigns by testing different ad combinations, targeting options, and other variables. This can help marketers find the best performing ads, allocate their budget more efficiently and get the best return on investment.
3. Emotional, Cultural-relevant data-driven marketing:
Marketing campaigns and the creative concepts that fuel them often rely on the ability to connect with the target audience on an emotional level, and while AI can assist with sentiment analysis, it cannot replace the human ability to understand and tap into emotions or the cultural trends and nuances of the geographical target. This is one critical reason why AI is not expected to replace human talent in marketing. It can however give humans the ability to identify patterns and trends in consumer behavior that will be instrumental and useful for targeting specific segments of the market and creating more effective campaigns.
4. Quicker Resolution of Customer Complaints
Irate customers and their social media platforms are like candles placed beside a drum of gunpowder-- waiting to ignite and blow brand confidence to smithereens. This is one area where AI-powered tools can help marketing teams do better customer service, by providing instant and accurate responses to frequently asked questions and freeing up time for human representatives to focus on more complex issues. The quicker customer complaints are solved, the happier the customers and the more likely for brand trust to be retained.
In conclusion, marketing teams are stronger and better with AI as a powerful side-kick, complementing each other to deliver utmost value for every client Dollar. And whilst AI may be raring to go and already disrupting several industries on a large scale, it’s not quite positioned to take over Batman’s job– at least not yet. Rather, it should be viewed as a valuable tool that can help marketers to work more efficiently and effectively.