Reading time: 2.5 minutes
Every business wants to ensure that their advertising dollars are being maximized to bring in the highest number of conversions at the lowest cost. But nowadays there is so much data generated by ad platforms that it’s impossible for human marketing teams to be able to effectively and constantly analyze that data to make the best possible decisions on the distribution of creative, targeting, ad spend, and so on. There just isn’t capacity to do that at scale.
Enter AI for digital advertising.
Most businesses have plenty of data at their fingertips from their CRM systems, advertising, social media, marketing automation platforms, and so forth. They simply don’t have the time or energy to assess that data properly and then make informed decisions from it. And it’s likely that such data will hold insights that could dramatically improve marketing campaigns. When they don’t do this, they aren’t getting fully optimized campaigns that are converting at a high level.
1. And when it comes to digital advertising, ad platforms generate a lot of data on the things that work and the things that don’t. To analyze that data at scale would be impossible for a human. That’s where an AI tool would earn its bread.
2. AI platforms analyze all of these data sources quickly, find patterns, make decisions, learn from them and continue to become more efficient and accurate at finding the right combinations of things that help to convert people. They can do all this to serve stated advertising objectives. They will also reduce costs, increase revenue and give advertisers a huge competitive edge.
3. Advertisers are rightly concerned about return on ad spend. An AI tool would reduce the amount of time staff would have to spend on advertising and maximize your budget. AI tools can also optimize performance and spend, ad creation and audience targeting.
Companies may worry that such tools will make advertisers redundant. On the contrary. People will still be needed to run the tools and make sure the data is accurate. And it will free up marketers and advertisers to work on other important marketing tasks. And strategy will still be vital to creating AI advertising campaigns.
Plus, most ad platforms are already using AI and machine-learning in some capacity. For example, the Facebook ads algorithm uses relevance score and ad frequency to determine how much you are going to pay and how your ads are shown.
Now is the time to take advantage of this huge competitive edge. It’s going to become more and more mainstream in 2020 and beyond. If you are interested in exploring AI-specific tools and strategies, we’d love to have a conversation with you about how to begin the process.
Want to know more about what AI is? Read our blog post 8 Basic Terms AI Marketers Should Know.