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08-07-2018

Ep. 16 – Artificial Intelligence In Marketing

Podcast

Artificial Intelligence In Marketing

For businesses, the opportunities for the use of artificial intelligence in marketing has really skyrocketed.  How is your business planning on making use of this technology this year or next?


Host 1:                                  00:00                     Podcasting from southern California, this is on the net, your go to for everything you need to know about how to get your business online and keep it there. Brought to you by Lunarpages.  We will help you navigate the mystifying ins and outs of doing business in today’s digital era from web hosting to ecommerce to security and protection. If it has to do with your online presence we’ve got it covered. Let’s get started.

Host 2:                                  00:30                     Hi everyone. For those of you who are joining us for the first time, welcome to On The Net, brought to you by Lunarpages where it’s all about your online presence. For those of you who joined us last week, thank you for coming back. This podcast is designed to make doing business online, easy for web designers, developers, bloggers, and online businesses of every shape and size. Whether you are new to buying a web hosting plan or you’re running a website and have been doing so for a long time, this podcast will answer your most burning questions. I’m your guest podcaster this week. My name is Lisa Maier. I am the CEO of Directive Group, a digital marketing agency that helps businesses dominate their market. I want to first thank Lunarpages for inviting me to speak with you today. They’ve been a trusted partner of ours for many, many years and I’m honored to be their guest.

Host 2:                                  01:23                     In today’s podcast episode, we’re going to talk about the benefits of adding artificial intelligence to your marketing plans. We’re definitely living in an age where the rate of technology change is unprecedented.  To thrive in this environment, consumers, businesses, and organizations of all types must seek to embrace the new challenges and opportunities that are now available to us in our technology driven world.  For businesses, the opportunities for the use of artificial intelligence in marketing has really skyrocketed, and for many leading companies making use of this technology is a top initiative this year or next. Join us today to discuss how to implement artificial intelligence as part of your marketing program. Digital marketing has been a key element for many companies in many industries for a number of years now, surprisingly 20, if you can believe that. It holds many promises, but as the options continue to proliferate, many companies are not so sure where to invest their dollars, nor do they know which of their investments are actually paying off.

Host 2:                                  02:30                     Aside from the siloed data, there are particular issues around attribution, knowing which tactics actually do contribute to conversions and which are not contributing to conversions and therefore your ROI. There was a promise many years ago when digital marketing came into being that the data available would help us be much more sophisticated marketers, much more able to assist businesses and consumers alike their buying decisions, but what has happened is there has been such an extraordinary amount of data collected in many disparate systems that were actually becoming overwhelmed by the data available and so it’s not very helpful to us as marketers and many of our marketing dollars are still lost. For that reason, Artificial Intelligence will change that for you and I think that’s a really important consideration when you think about making digital marketing finally pay off, so machine learning, the capability to capture, to analyze big data,

Host 2:                                  03:33                     they’re really game changers. We now have the power to do market testing at an unprecedented scale and to be able to gain predictive capability about drivers for decisions that lead to conversions and then ultimately to gain an eerily accurate prescriptive recommendation from your program. So what’s possible now is instead of doing A/B tests, maybe a few, maybe a dozen, tens of thousands of them can be run at the same time. I mean that is an enormous change in scale and then the learning that happens is a really different element. We’re used to looking at tracked data where silicon and statistics we’re not used to getting information from our programs that tell us the predictions that they’ve made and how well their predictions are doing, which you can watch improve over time until you get to the point where your software is actually telling you that you should consider doing this next to reach the highest level of conversions.

Host 2:                                  04:33                     With your prospective customers, that is a huge difference, so this technology not only exists today, but it’s rapidly evolving and there are applications in almost every aspect of the buyer company relationship, so every part of the selling process, the buying process is supported by artificial intelligence. The question now becomes, how can you best leverage this new technology and decisive forward-thinking plan to succeed in this new frontier? Here are just a few examples of how you might implement marketing artificial intelligence in your marketing program. You might, for instance, and I’ve been alluding to that choose to work on determining and understanding the full attribution of all your digital channels. That’s now possible, not just first touch and not just last touch, which is how attribution had been done up until recently, but fractional distribution of contribution, so you really get to know how each tactic is paying off or not.

Host 2:                                  05:35                     Another is that there are AI powered marketing tools that can make suggestions for fresh social media content that your brand’s followers are likely to really engage with and get excited about. Another example is that algorithms now produce intelligence that can greatly enhance your visitor experience on your website. There is the capacity to send highly personalized push notifications to your visitors at the moment they might be likely to act on an offer and that is extremely interesting. Another the final that I wanted to describe is that PPC advertising can be enhanced by using AI tools which allows for more testing on your platforms and reaching the right people with highly optimize targeting and highly optimized messaging. So you’re probably thinking at this point, hey, that sounds pretty good, but I don’t have the first idea on how to get started on doing this. Well, one way to get started is to begin an investigation in what you probably need to determine or some of the categories where you’d like to see a marketing or sales improvement inside your company.

Host 2:                                  06:40                     Is your customer acquisition cost high? Is it too high? How about your retention rate? Is it too low? How about your sales cycle? Is it too long? Could it be shortened in any way? Knowing where it’s most beneficial to see improvements is a really important first step. Once you know that you can start looking at some of the Martech aggregators that combine and categorize the thousands of AI options that are now available so you can get to a manageable lists to begin evaluating and understanding. After that, it’s the standard vendor selection process. Alternatively, it may be that the best way for you to dive into this world is to use an enhanced digital agency. Why might you do so? Well, jumping into the world of artificial intelligence is not for the faint of heart. There are many, many options. Understanding the capabilities of AI and how it should be tailored to perform best at your company without spending too much or wasting time with unnecessary options is a roadblock

Host 2:                                  07:41                     many, many, people encounter when they try to implement an integrated AI program. Digital agencies that have immersed themselves in the Ai Martech world have already blazed the trail for you and they have the experience using artificial intelligence at every stage of your marketing and sales processes. They know what works and exactly how it can be leveraged for your business. These digital agencies are experts at delivering custom, strictly sound plans that can deliver results on the areas of focus. Well, whatever approach you decide to take, our advice is do it. Dig in now and start learning. There is no better time to get a jump on this new technology and it’s entirely possible that you can gain a competitive advantage if your first in your industry to really begin leveraging these new software tools. We hope that this episode has been helpful and we hope it’s provided a glimpse behind the curtain of artificial intelligence and how it can transform your business for the better. We want to thank Lunarpages for allowing us to speak with you today and we’d like to invite you to please connect with us on twitter at DirectiveGroup or on LinkedIn, and for more information on this topic or any other digital marketing topics, be sure to visit us at Directivegroup.com or give us a call. 813-341-3800. On the net will be back next week. So tune in for more great tips on how to make doing business online easy.

Host 1:                                  09:19                     Thank you for listening to the latest edition of Lunarpages podcast On the net. Remember, it’s all about your online presence. If you like what you heard, please share our podcast. Join us next week as we take on another

Host 1:                                  09:33                     need to know topic around doing business in the digital era.

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