What drives your marketing strategy? How do you make the right choices to reach the right audience through the right channels at just the right time?
Most importantly, how do you ensure your advertising budget is having the impact you need and earning the ROI your investment deserves?
This is the challenge of the current marketing process. Businesses use educated guesswork, publisher driven audience stats that are often inaccurate and outdated, and intuition to plan how they’re going to communicate with their customer in the hope that the usual ads and content will work.
It’s quite the manual process and involves a lot of assumptions (and a lot of budget spend too!).
What if there was a better way?
Fortunately, we have now entered an exciting new era of marketing where AI and machine learning technology are driving smarter and more automated decision-making based on real-time data.
This is an exciting time to be in marketing as we can now rely on constantly evolving, data-driven methods to boost our marketing campaigns, allowing us to promote effectively by targeting the right consumers at the right time very easily.
AI-powered marketing is the way forward, and it's crucial for businesses and brands to be well-informed about it today, rather than waiting until tomorrow. In his blog, we'll take you through how you can incorporate AI into your marketing strategy to completely transform how you connect with, engage, and acquire new customers.
A new era of Marketing: Machine Learning and AI-Fuelled Advertising
What is machine learning?
Machine learning utilises statistical methods to find and analyse patterns in massive amounts of big data. It enables powerful software to examine different consumers’ information and behaviours online such as location, demographics, browsing behaviours and search history. The more it collects over time, the better it becomes at mapping out relevant patterns and trends in market.
What is AI-fuelled advertising?
Artificial Intelligence (AI) in paid advertising is the use of a computer and evolving algorithms to observe these identified patterns of data generated through machine learning and then making rational marketing decisions which adapt accordingly.
This is effectively what a human can do, but AI advertising is much faster and can take into account larger amounts of data to understand behaviour and engage audiences in the right way.
Programmatic advertising employs both machine learning and AI marketing to make real-time decisions which determine:
- what type of media placement is optimal
- what type of ad to deliver
- on what channel
- in what particular format,
- with what type of creative message, and
- at what time in order to maximise engagement levels
What is programmatic advertising?
Programmatic advertising is a real industry game-changer and is the fast growning method of digital advertising across web channels for the past decade. In fact, The Interactive Advertising Bureau (IAB) of Australia predicts that by 2025, more than 80% of all offline and online advertising will be bought programmatically.
Yet, in Australia, the marketing community are still catching up and know little about it.
As opposed to the traditional way of dealing with manual media insertion orders and human advertising negotiations, programmatic advertising allows marketers to purchase digital ad spaces through software in an automated, optimal and real-time process.
How does programmatic advertising work?
Think of the programmatic advertising process as a live auction wherein advertisers pay only what the ad space is worth and how relevant the space is at that exact moment in time. Simply put, it’s where you use AI to automatically buy the most relevant ad spaces by taking into consideration which ones will be most effective in achieving measurable impact from your target audience.
Programmatic advertising can aid your business in reaching a vast range of target audiences across different web channels, formats and devices – all without any manual guesswork.
Why should you consider Programmatic Advertising in your marketing strategy?
Programmatic advertising offers a lot of benefits for your business starting with reaching your target audiences, sending personalised brand messages to consumers in accordance with their behaviour on the web and your own website, measure performance by channel and ad format and help you gain a higher return on your online advertising investment,
This modern marketing method may sound intimidating at first, but it is actually a powerful way to drive your marketing strategy forward.
To quickly understand how the use of programmatic advertising is beneficial to your business, here are the advantages it offers you:
1. Take the guesswork out of media and advertising choices
Through machine learning (big data patterns) that fuels AI marketing, programmatic advertising allows you to track behavioural trends of your target audience, using real-time audience data. This allows you to accurately identify their points of interest or pain points to know what kind of marketing you should launch to meet their needs at the perfect time, optimising your promotional choices or the type of brand message that will appear on a particular channel, for example a video or display ad, in front of a particular audience.
2. Premium placement without the premium costs
Programmatic advertising allows for large scale marketing without the heavy price tag. How? Because it enables businesses like yours to connect with a wide variety of consumers across a wide range of channels – whether they are using a desktop at home or smart devices when they’re out and about.
By selecting marketing initiatives that are highly targeted, efficient and measurable, you can be assured that the cost you’ll spend on advertising isn’t wasted.
3. Advanced audience targeting
Through the continual learning from data and AI marketing, programmatic advertising allows you to accurately predict who is most likely to be interested in your business’ products or services, helping you find and reach them more effectively.
Programmatic advertising’s advanced audience targeting can actually reduce the time and cost it takes to find, engage and convert the right customers. On average, once the AI algorithm is activated after a certain number of interactions on your website, advertisers can anticipate achieving conversion rates that are 4 to 12 times faster compared to traditional methods like lookalike audience practices used by social media platforms.
4. Marketing transparency
Programmatic advertising allows you to easily track your marketing efforts and review your campaign performance by having a comprehensive and accurate view of where your ad is placed, who is seeing it, what they’re doing in response and how much the entire process is costing you.
5. Higher ROI
Since programmatic advertising is digital, you’ll be able to save money without sacrificing the scale it provides. Because it can reach larger audiences through its data-driven method, you can also expect a more qualified and higher volume of traffic to your website that can be tracked from top to end of funnel - brand awarness to customer acquisition online.
Programmatic advertising not only offers a real-time bidding process, but it also ensures that you pay the perfect price per impression every single time. By enlisting the help of programmatic experts to manage and optimize your campaign, you can expect an even faster improvement in your ROI. This means that reaching, engaging, and converting your customers will become increasingly efficient, leading to greater success for your business.
Want to see AI-Marketing in action?
It’s not a myth or out of reach for the SME. It’s here today for the ambitious marketer to leverage and profit.
Witness for yourself how this revolutionary new approach to marketing can tailor your brand’s message across multiple channels to capture your target audience when it matters the most.
Don’t get left behind. Start adapting to this change now to provide your business with the growth and success deserves through automated, AI-fuelled marketing.
Contact Adgility today to book in a free, no-obligation consultation today.