“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
“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
Visit Oracle Report
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
“In other words, AI and process technologies allow a smaller and more nimble firm to compete with the big ad agencies. By offering flat rate packages and turnkey services, enabled by technology, clients know what they will pay.
There is a significant time reduction with the minimum being 37% for a small scope and up to 94% for a broader scope. The average decrease in time spent from a client briefing email to an ad launch with 80 ads is 67%.”
“When asked how prepared their organization is to roll out artificial intelligence (AI), AR, virtual reality (VR) and voice recognition, only nine percent felt they’re currently able to support these features.”