Do you know? In the year 2018, Lexus released artificial intelligence’s first-ever advertisement.
As per the Variety website, Lexus worked with IBM Watson to analyze 15 years of “car and luxury brand campaigns as well as various external data.” IBM Watson could recognize the elements that resonate with viewers from the dataset.
There are commercially available platforms already that use AI to create ads without human involvement; artificial intelligence is not just creating ads. Artificial intelligence takes over the advertising world. AI for advertising transforms at every level everything possible in the advertising world, from ad creation to targeting audiences to ad purchasing.
So what is artificial intelligence (AI)?
Artificial intelligence (AI) indicates the simulation of human intelligence in machines that are programmed to think like humans and copy their actions. This may also be implemented to any device that exhibits traits associated with a human mind, such as learning and problem-solving.
AI-powered computers are intelligent enough to read and understand a text, seeing and identifying images, moving around obstructions physically, hearing and interpreting sounds, and sensing their outer environment.
For example, Google Docs and Gmail are utilizing AI to read whatever you’re typing and understand enough to determine what to type next with Smart Compose. Facebook employs AI to identify the person in your photos and then suggests the person to tag.
AI technology transforms industries from retail to finance healthcare.AI tools in these industries are dramatically changing the way work is done, providing unprecedented revenue opportunities, and reducing costs by a significant margin. That’s the reason there are some advantages of AI technologies over traditional software.
How is AI different from traditional software?
Firstly, AI has the capability, unlike traditional software, to effortlessly process vast data sets on a scale.
Though traditional software has access to vast amounts of data (think: all contacts in your CRM system). The software presents a marketer with transparency, as you will see all your data in one single place and perform tasks more efficiently. But it does not provide any data background. But the traditional software will not tell you what to do with the data.
Whereas Artificial intelligence technologies are “smart.” They examine the data on a scale and then predict what it really means. For instance, an AI-powered CRM system contains the same data as a traditional system. Additionally, the AI-driven system may suggest the leads that are most likely to close, who to speak to next, and how to obtain leads based on their behaviours on your site.
Related: How to use AI for small business?
Let’s take a look at traditional vs. AI-powered CRM system:
A conventional CRM system, such as requesting a consultation or downloading an eBook, can be programmed to highlight any leads that take high-priority actions on your site. Depending on these actions, the system can then assign a lead score to the contact. Their score will probably go up because they’ve taken some skillful actions on your site, depending on the rules you’ve created manually.
Whereas an AI-driven CRM system may take the lead scoring rules that you created and then analyze how it works overtime, depending on comparison, the score of each lead to whether or not that lead converts into a customer. The AI-driven CRM can then adjust lead scores automatically or generate new ones depending on what it detects working from the data without your engagement. Maybe downloading an eBook isn’t as robust as you imagined about a lead score signal, and leads who downloads one is no longer expected to convert. This can be recognized by an AI-driven CRM, and it’s lead scoring abilities enhanced accordingly.
Why is AI taking over the advertising industry?
This is the reason for advertising and marketing, AI is starting to gain traction.
ONPASSIVE AI for Advertising has tons of data accessible from CRM systems, ad networks, marketing automation tools, etc. due to the digital marketing revolution.
One should have adequate resources, time, or cognitive capability to analyze all of the data efficiently, though it might have knowledge that can drastically enhance the campaigns.
Forward-thinking marketing executives and entrepreneurs prefer AI for advertising for its capability to increase sales, reduce costs, and develop a substantial competitive advantage. As far as advertising AI is concerned, there are plenty of use cases already and tools that anyone can learn, pilot, and scale.
How AI applies to advertise?
Advertising tools, including visible views, demographics, bid levels, click-through rates, and more, provide us with tons of data. Unquestionably, humans can plan good advertising, assess advertising, and improve ads depending on what they know. Digital advertising across channels, search, and content of social media provides us an almost limitless capacity to produce data about which one works and which one doesn’t.
That’s what makes ads more challenging for humans on a scale (read: impossible). And that’s what makes AI a natural advertisement fit.
AI-powered ad methods can recognize trends on a scale in your advertisement data with the correct data, then predict the campaign enhancements that can increase performance against a specific KPI. All this can occur in seconds rather than the hours, days, or weeks that a person can take to assess, monitor, and repeat through campaigns.
Advertising costs a ton of money, primarily if you sell a product or service that does not produce an immediate return.
AI for ads can enhance your ad spending (revenue) return and lessen the amount of money you spend on employee time and ineffective ad budget.
Use cases for AI in advertising
Though you may not always recognize it, AI is essential to the infrastructure that holds advertising products on many platforms.
Websites and digital advertising exchanges all use AI to control the real-time buying and selling of ads. It includes channel advertisements such as Instagram, Twitter, and Snapchat, programmatic platforms, and networks of third parties.
We’ll explore more about the ad platforms, its examples, and much more in the Part-II of this article. Hopefully, by the end of Part-I and Part-II of this complete article, you will be able to fully understand how ONPASSIVE AI for Advertising will help you achieve your marketing objectives.