How to Boost Your Digital Marketing with Machine Learning?
By Arijit Banerjee
Have you often felt an invisible power stalking you on your PC or mobile device, repeatedly promoting discounted air tickets to your hometown, until you finally succumb to temptation and hit the ’purchase now’ option? This is just one instance of how machine learning (ML) and Artificial Intelligence (AI) are impacting digital marketing. Every customer interaction in the digital world leaves a digital footprint that organizations are now studying using ML, giving them access to a powerhouse of information on the customer’s purchase journey. Working on large data sets in milliseconds, ML programs help analyze and understand customer intent, behavior and purchase patterns, enabling targeted customer engagement.
34% of Indian companies had an integrated digital marketing strategy back in 2016 and studies report that digital marketing in India is set to grow at an annual rate of 25%– 40%. In the context of these statistics, let us look at how ML can impact digital marketing trends in the Indian market, boosting outcomes.
Campaign and Content Performance Enhancement:
ML has steadily been revolutionizing the programmatic world of digital campaign management. ML aided tools have stepped up the game on pay-per-click campaigns by providing insights and information that enable informed decisions and real time campaign management based on key performance drivers. This helps marketers overcome barriers that keep them from achieving their PPC goals. For instance, the DoubleClick Big Manager on Google automatically recommends strategies for better conversions based on campaign objectives and target audience. SEO continues to be a key component of a well-rounded digital strategy. Recent ML based applications help analyze keywords, and enhance quality of content, rankings and results.
As digital marketers seek to optimize user dialogue and engagement across platforms, ML tools can help create and promote relevant, personalized and compelling content, most suited to the target audience based on their past interaction and buying behavior. The result: a thorough and dynamic content management strategy and the ability to create a unique and personalized user experience, facilitating higher engagement with the brand. ML-enabled bandit tests support effective A/B testing of content strategies through dynamic optimization, wherein ML algorithms explore multiple options and automatically implement the best one for better ROI. Brands within the e-commerce, retail, travel and hospitality segments are already reaping the benefits of ML in digital marketing. Amadeus, for instance, leverages AI and ML to deliver customized travel offers to its customers.
Superior Targeting and Customer Engagement:
The new generation of AI-powered algorithms can analyze all customer interactions with your brand, enabling you to revamp your digital marketing campaigns, personalize promotions and boost sales. Similarly, prior to the advent of ML and AI, conducting market research and exploratory studies for campaign launches were herculean tasks, consuming significant time and manpower - without providing definitive outcomes. Today, using the right tools, marketers can easily analyze, understand and predict consumer behavior based on existing data. Unsupervised ML helps marketers study and group their audience into varied segments and engage with them accordingly. Google and Facebook ad platforms leverage ML and AI extensively to hyper-personalize ads by analyzing user information, interests and demographics.
As we move further into the digital future, machines and marketing professionals will together deliver next-gen marketing initiatives that will be more efficient, targeted and personal than ever before. 51% of marketers already use AI in some form or another and 27% plan to do so in 2019. Organizations that embrace the power of ML and AI will be able to successfully target their customers and create a more enriching and satisfying customer experience journey.