AI, Machine Learning, Automation, Analytics, Digital, disruption.If you're in the tech space, these words have taken over your life and if a multitude of experts are to be believed, they’re soon going to take over the world! As a marketer, the pertinent question I keep thinking of “What will be the impact of AI and wider technological advances on marketing? Is marketing immune? Or will it adapt and not be disrupted? Will our jobs vanish and most of our functions be automated? Here are a few points that will throw light on these contentious questions.
Personalization in marketing isn't a new concept. The same brands are marketed differently across various geographies by global corporations to effectively communicate and position their benefits.But now, with the advent of fast advancing AI and robust analytics, brands can tailor their messaging to maximize effectiveness.Social media platforms like Facebook and Twitter already use targeted advertising as their main revenue generator but going forward advertising messages will be tailored to your profile and past interactions.
Analytics has been used extensively especially since the advent of digital and social media marketing.But currently, we have a plethora of analytics- based software that promise more accurate representation of customer behavior.But with refined analytics solutions that provide sentiment analysis, marketers now have the ability to derive insight instead of relying on guesswork and instinct. This will improve marketing spend efficiency and retargeting of marketing objectives.
Creativity to humans – Analysis to machines
With the topic of technological disruption, the uncomfortable questions about human redundancy inevitably crop up.Traditionally speaking, marketing as a discipline has been dominated by a few heads who took all the decisions based on their experience, approach, and creativity.But with AI and analytics marketing managers will be left with two tasks – strategy and creativity. With all the heavy lifting of non-thinking work being done by machines/ algorithms, marketers will define success by how bang on their strategy is and how creative they are with the use of information provided by technology-based tools.
Marketing efforts require money and those on a large scale, especially in B2B marketing put tremendous stress on a company's bottom-line. With disruptive technologies marketing simulations will become affordable and thereby commonplace. This will lead to more marketers deriving objectivity in their subjective decisions ultimately leading to more accurate campaign designs. This edge will aid not just the stressed bottom-line but also positively impact the top line.
Playground for sales implementation
Another school of thought is that marketing is being used as a petri dish with tech disruption so as to ultimately use it in a better and cheaper way for sales! Not every tech will disrupt marketing activities and this era of enthusiastic experimentation will lead to a sharper utilization of the same technologies on the much more sensitive and important sphere of sales.
In conclusion, as of 2018, AI hasn’t reached Skynet levels of awareness and potency. But as AI and gets better each passing year (as it is supposed to), it is important that smart marketers get into the action now itself so that when the rubber hits to road, they're ready to capitalize and provide true marketing value for their organization’s sales and PR efforts.So the motto should be: "Don't fret disruptive technologies. Adapt and respond!"
Saurabh Pol is part of the Marketing team at TechMBPS.
He is responsible for solutions marketing, digital marketing and thought leadership endeavors of his division. When not working, he likes watching football and reading about culture and politics.