Marketers are using artificial intelligence to get more value for their budget.
And the barrier to explore this method for marketing your business is low.
This was one of the key takeaways from Hubspot’s recent Master Class titled, Marketing in the Machine Age: The Path to a More (Artificially) Intelligent Future.
Paul Roetzer, the founder of PR 20/20 and the Marketing Artificial Intelligence Institute, is the guest.
Describing AI as “all processes to make machines smart”, Roetzer said machine learning is the process of teaching machines.
For instance, when Google images identifies objects, places and people, that is the outcome of machine learning, after the system was taught to recognise differences by looking at patterns and pixels.
Rise in automated marketing
Roetzer details examples of how machine learning is applied to common tasks in marketing, and other industries.
In the case of a television retailer, you’d be able to structure a template for a description of televisions, including synonyms and a set of scenarios, ie “if then XX”. You’d then input a set of data, eg columns detailing resolution size and other variables, and rows with the different television brands. Once you have entered the data, Roetzer said the computer writes about “50 descriptions in a second”.
In 2015, Gartner, Inc. projected that by 2018 (that’s next year!), 20% of all business content will be authored by machines.
Roetzer also pointed to one of the leaders in automated marketing, Albert.AI
Albert.AI captures your creative, such as your call to actions, headlines and graphics. The programme executes your campaign across a range of channels, including social media and paid search. Using the data it collects, it will determine how to allocate your marketing budget to make the most impact. Roetzer said the tool required a minimum monthly spend of $20,000. This amount puts it out of reach for many smaller to medium sized businesses.
Google’s DoubleClick tool, Custom Algorithm, uses historical data to target ads to the most relevant audiences, reporting that campaigns using the tool reported a 34% drop in cost-per-thousand impressions.
Despite the apparent benefits, a recent study by Evergage found that only 33% of marketers were using AI in their campaigns. Of this group, over 60% noted an increase in conversion rates.
By automating time-intensive tasks, backed by large data-sets, there is the potential for marketers to pursue more creative opportunities.
When asked where the marketer would go with all this free on their hands, Roetzer responded: “Probably places we are not aware of yet.”
Getting started with marketing and machine learning
To get started, Roetzer had the following recommendations:
- Commit to learning more about AI and the potential for your business
- Trial a single case in your business, piloting in one specific area
The Content Marketing Institute has a useful list of AI marketing trends, and a few of these might be relevant for your business. You can access their tips here
Click here for the full Master Class .
Image source: FreePhotosBank
