With almost every business today requires an online presence to draw customers and opportunities, the future of online advertising has never been brighter. And with new, groundbreaking strides being taken in the field of Artificial Intelligence, it is a good time to be online. Online or digital advertising in today’s day and age is a very huge and profitable market and any business that fail to use the internet optimally for their marketing and advertising needs are basically asking to be left behind. With digital media ad spending estimated to reach $113.18 billion by 2020, it is evident that advertisers have to find more effective ways to advertise and make a profit.
The next big leap towards the future of online advertising is in the application of Artificial Intelligence to the advertising process. Advertisers have begun to make a switch from traditional online advertising process to an AI-propelled one. Even as an emerging technology, AI has seen increased usage in today’s advertising space. The application of AI technology to the online advertising process holds several possible benefits for digital marketers and advertisers.
These benefits can be achieved through the use of affordable and reliable Saas AI. This AI can incorporate machine learning techniques, applied propensity models, predictive analysis and other crucial AI applications towards the provision of personalized and customized communication across multiple channels. Some of the benefits AI software would offer for advertisers and digital marketers include:
Customer Data Analysis
A major benefit of using artificial intelligence software is in helping with better data analysis. While there is a lot of customer data available for use today, humans do not have the capacity to accurately analyze this enormous data and infer important information from it. This struggle for necessary information poses a problem for experts when embarking on an advertising campaign. In fact, a study estimates the market for global data management to be up to $3.7 billion dollars by 2024.
Presently, most online advertisers just focus on sending out a countless number of ads without attempting to understand how customers react to these ads. Artificial intelligence software offers the possibility of helping advertisers discover customers that actually read their online marketing campaigns or those that just delete the mails as soon as they receive it. AI software helps in this case by giving marketers and advertisers insightful feedback to help them properly target their ads.
Another benefit the use of AI software offers for online advertising is better personalization. According to a recent study, about 84% of millennials distrust traditional advertising because it is not personalized. By analyzing gathered data, AI is able to offer personalized advertising campaigns for specific sets of individuals or groups based on information derived from data. Studies have proven that customers respond better to ads that are personalized for them, instead of generalized ads. The AI may even propose the best times to market these products to these customers.
AI software helps with automating the ad process 24/7 by providing insight from already gathered data about customers. The AI can be programmed to automatically send ads to a target audience based on the insights it reveals after analyzing large amounts of data. It is estimated that 80% of the advertising process will be automated by 2022.AI can also be used to automatically create advertising content which would read like it was written by a human. This automation helps to remove the need for constant human interference in the ad generation process, allowing for a wider and faster reach.
Better User Experience
Increased AI uses in online advertising benefits customers by improving their experience. With the AI software providing relevant ads for customers based on analyzed data, the customers only see what they want or will possibly need, as opposed to constantly being barraged with countless irrelevant ads. This helps increase their chances of converting and making purchases.