It’s no secret that automation plays an increasingly important role in media buying. While investing in the exact solutions as your competitors may be sufficient to keep up with them, it is insufficient to move ahead of them.
Machine learning’s potential extends beyond improving media and crunching numbers. It also frees up time for firms and organizations to concentrate on improving their teamwork.
What’s the key to using automated technologies to gain a meaningful competitive advantage? The key is using automation in conjunction with good old-fashioned human intelligence. According to the research behind the recent book “The AI Marketing Canvas” and observations from Google’s work with hundreds of Chief Marketing Officers, the best way to unleash the full power of machine learning is to match it with unique insights only you can provide. In other words, unless you use data and experiences unique to your company to feed automation, you’ll end up with the same results as everyone else.
Machine learning’s potential, however, extends beyond optimizing media and crunching numbers. As machine learning accelerates, in-house and agency marketers will have a unique chance to collaborate on more powerful and intelligent work. It also frees up time for firms and organizations to concentrate on improving their teamwork.
๐๐ฒ๐ฟ๐ฒ ๐ฎ๐ฟ๐ฒ ๐๐ต๐ฟ๐ฒ๐ฒ ๐๐๐ด๐ด๐ฒ๐๐๐ถ๐ผ๐ป๐ ๐ณ๐ผ๐ฟ ๐ฒ๐ป๐ต๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐ฎ๐๐๐ผ๐บ๐ฎ๐๐ถ๐ผ๐ป ๐๐ถ๐๐ต ๐ฎ ๐ต๐๐บ๐ฎ๐ป ๐๐ผ๐๐ฐ๐ต.
๐ญ. ๐จ๐๐ฒ ๐๐ป๐ถ๐พ๐๐ฒ ๐ถ๐ป๐๐ถ๐ด๐ต๐๐ ๐๐ผ ๐ฎ๐ป๐ฐ๐ต๐ผ๐ฟ ๐ฎ๐น๐ด๐ผ๐ฟ๐ถ๐๐ต๐บ๐.
Artificial intelligence (AI) breakthroughs occur when individuals create better algorithms than when machines process enormous volumes of data. Take, for example, AlphaZero, a chess-playing computer program developed by DeepMind, an AI research firm. Because the guys who created it overturned tradition, it became the best AI chess program. While most automatic chess algorithms consider all possible moves before making a choice, they designed AlphaZero to do the exact opposite: play as quickly as possible.
Take a page from this book and use a unique insight geared to your firm to fuel your automated marketing solutions. It may be as simple as selecting a more appropriate key performance indicator. By focusing on profitable expansion rather than efficiency, one popular vacation rental platform, for example, raised income by 115 percent.
Start by asking your team, “What is one piece of data we don’t have that we wish we had?” to get an insight that can help your brand succeed.
Your unique insight could potentially be a new data point, as it was for a store that doubled its Google Ads earnings by incorporating product margin dataโwhich isn’t usually associated with media buyingโinto the equation. Consolidated data may be the most important factor for other businesses. When a fashion firm consolidated different customer relationship management systems into a unified data management platform, it discovered that some customers were six times more valuable than others.
Work with your chief information officer to gather that data by executing basic tests. You can improve the data over time if you observe good outcomes.
๐ฎ. ๐จ๐๐ฒ ๐๐ฒ๐ฐ๐ต๐ป๐ผ๐น๐ผ๐ด๐ ๐๐ผ ๐ถ๐ป๐ฐ๐ฟ๐ฒ๐ฎ๐๐ฒ ๐ฟ๐ฒ๐น๐ฒ๐๐ฎ๐ป๐ฐ๐ฒ.
Ad creative is becoming increasingly crucial to success as automated media optimization becomes the standard. Human storytellers will always beat technology at generating storylines that resonate with people. On the other hand, technology has speed and scale on its side. With techniques like personalization and sequential storytelling, it may enhance and tailor messages.
Machine intelligence can assist in determining what consumers care about, but it is up to actual people to turn that data into attractive advertisements. That’s why a winning campaign requires a combination of automation and human ingenuity. Schedule regular insight sessions with your creative team and agency partners to keep up with the current trends. Then put those insights to work using automated tools like Director Mix, which allows you to create a plethora of personalized video creative alternatives.
For example, Google’s brand marketing team meets regularly to use data like Google Trends to identify new customer passion points and then tailor its product ads accordingly. When the public’s interest in “cloud bread” grew throughout the first year of the epidemic, the team rapidly created Google Home advertising highlighting it, then launched the campaign within 72 hours.
3. ๐๐ ๐ฝ๐ฒ๐ฟ๐ถ๐บ๐ฒ๐ป๐, ๐น๐ฒ๐ฎ๐ฟ๐ป, ๐ด๐ฟ๐ผ๐, ๐ฎ๐ป๐ฑ ๐๐ฐ๐ฎ๐น๐ฒ
Despite all of its benefits, machine learning has one fundamental flaw: it cannot think of new ideas independently. Or, at least not yet. Algorithms require the correct data and instruction to orient themselves toward meaningful goals. This necessitates continuous testing, which for many firms necessitates increased testing capacity. Those who test frequently and scale winning strategies fast, in our experience, virtually consistently outperform their opponents.
Upskilling your team may be required if you adopt a test-and-learn culture. To do so, collaborate with seasoned media partners and choose an AI champion to spearhead experimentation on your marketing team. The good news is that your team can use several tools (like sentiment analysis and image recognition) to move quickly.
Keep track of how many tests you finish each month and attempt to increase that number. Assist your team in gaining access to better testing solutions and accelerating processes like stakeholder approvals and creative reviews. And after you have enough data for a successful test (it doesn’t have to be perfect), get started.
It’s a lovely irony that technology alone can only take you so far in a world undergoing such rapid technological change. Combining automation with uniquely human talents, such as the ability to convert findings into creative ideas and then adapt those ideas based on how they function, can you sustain a competitive advantage. There is no better way to begin than to get started. After all, a sloppy game plan in action is preferable to a perfect strategy in theory.
