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Artificial Intelligence (AI) is considered the cutting edge of technology by many. But in a few years, it may be as standard as smartphones are today. Divorced from all the implications of popular science fiction movies, AI is a computer or robot that can gather facts about a situation through sensors or through human input. It can then use this information to solve problems or perform tasks. More specifically, AI is a computer system that can perform a task which normally requires human intelligence. This is also the primary reason people fear AI. AI has numerous potential applications in marketing. But in 2019, you’ll mostly see AI deployed for content marketing, customer service, and advertising. Before you start worrying, know that AI isn’t currently positioned to make every content marketer’s job obsolete. AI is mostly used today to identify trends, drum up data, and do competitor research.
Ultimately, it is the business, marketing, and brand development strategies which drive the growth of a business, so it is important to have a sound marketing strategy and branding in place before working on the digital tactics. Otherwise, it’s likely your hard work on the digital tactics will be wasted if they are directed at the wrong audience and your value proposition isn’t strong enough. The key trend here is the way digital technologies and media offer the opportunities for digital disruption. Yet digital marketing is not always used as a disruptor. As I discuss in my Digital Marketing: Strategy, Implementation and Practice book, digital marketing is more often used for market penetration than new product or market development (these are the classic Ansoff growth strategies). To give you a benchmark, this new CMO Survey research from Duke University Fuqua Business School, Deloitte and the American Marketing Association based on the views of Chief Marketing Officers (CMOs) in large US organizations is useful. It’s interesting since it translates the theory of Ansoff into practice, showing how businesses are mainly investing, but other strategies are significant.
Influencer marketing is a type of word-of-mouth marketing that focuses on using key leaders to amplify your brand message to a larger market. Influencers can be well-known celebrities, but more often they are Instagram or YouTube personalities with a huge niche following who can help spread the word about your business or product through their social channels. Because influencer marketing is generally more authentic than corporate advertising: 63% of consumers trust influencers’ opinions of products much more than what brands say about themselves, 58% of people have bought a new product in the past six months because of an influencer’s recommendation. For this reason, Iceland, a popular British supermarket chain, switched from ads with celebrities to a campaign that features real-life moms. Teaming up with YouTube community Channel Mum, it now works with a number of vloggers to promote its products in a more “authentic” fashion. And research shows that 35% of moms trust online videos like the one below more than traditional ads: Influencer marketing is not just a trend: A mediakix study predicts that the ad spend for influencer marketing could reach $10 billion by next year: Influencer marketing is also going to be affected by artificial intelligence. With each year, AI is making the process of finding the right influencers to partner with easier and faster. It’s helping identify those with better engagement, fewer fake followers, and a higher chance of generating a positive return on investment (ROI). In addition, artificial intelligence is transforming influencer marketing in the following ways: Image recognition with ANN (Artificial Neural Networks), Determining influencer performance with NLP (Natural Language Processing), predicting incentives with ANN.
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