Acoustic: Lifting the burden of tech in marketing with AI

“One simple example is the use of machine learning to automatically identify different elements within content assets and then tagging them accordingly. Another is in anomaly detection, where AI is used to identify changes in metrics such as website traffic, opt out rates or bounce rates and raise alerts.

“This is going to be the disruptive trend within the marketing platform space for the next five years,” Henderson says. “It is going to be hugely transformative in terms of the marketer’s ability to deliver on that promise of creating great experiences and better matching the vision they have for what they are trying to do and the reality.”

How Artificial Intelligence is Changing the Landscape of Digital Marketing

“Reportedly, brands who have recently adopted AI for marketing strategy, predict a 37 percent reduction in costs along with a 39 percent increase in revenue figures on an average by the end of 2020 alone.

According to a 2019 study by Forrester and Albert, only 26% of marketers are making use of autonomous AI, while 74% take a more manual approach with assistance from AI.”

“Machine learning and AI now has a variety of use cases in marketing. The CMO Survey 2019 lists the following as top uses of AI in marketing:

• Content personalization

• Predictive analytics for customer insights

• Targeting decisions

• Customer segmentation

• Programmatic advertising and media buying

• Improving marketing ROI by optimizing marketing content and timing

• Conversational AI for customer service

• Next best offer

• Augmented and virtual reality

• Autonomous objects / systems

• Facial recognition and visual search

• Biometrics”

“To enable personalization and customer satisfaction—and acquire customers—more marketing dollars are being apportioned to investments in artificial intelligence and customer data platforms.
For the 2019 holiday season, brands are boosting their technology spend and investing in artificial intelligence (AI) to enable personalization, according to the report.
DTC brands plan to increase marketing spending for AI by 56%, compared with 41% of incumbent brands.”

How Leading Retailers and Direct-to-Consumer Brands Are Investing in Digital

The report says retail advertisers in the US alone will spend $13.12bn on search in 2019, a 22.5% increase from last year – and this will reach $15.65bn in 2020.
The report attributes 54% share of product searches to Amazon vs 46% to Google – a complete reverse of the shares it published in 2015.

Monetising voice search. The key findings:

1 in 5 consumers have bought via search

31.72% of those have bought something new (not a repeat purchase)

Household items and clothing are the most common purchases

Consumers like the hands-free experience

Security concerns and a lack of screen are barriers to adoption