AI Marketing Automation; The Good and the Bad in Marketing Automation
Artificial Intelligence (AI) continues to be a hot topic across all business areas, including marketing. I wanted to take a brief look at the current status and what we can expect to see happening for the rest of 2018 and beyond. Before we go into that, let’s consider how AI Marketing Automation is coming together and what spurs this increased interest. Given the affordability and accessibility of data analytics tools, we’re at the point where marketers worldwide make data-driven decisions for better results. This is not new but what it is of interest is how AI will help us make improved marketing decisions.
Integration - Andrew Stephen, a Forbes contributor and Associate Dean of Research, Head of the Marketing Faculty of Saiid Business School, University of Oxford argues that, marketers have more insights now than ever before and the tools available to facility true data-driven decision making however, where AI shines is in the actual integration of all tools, data-sets and platforms. I tend to agree as currently we are all faced with multiple platforms for measuring certain metrics and lack integration. Integration is critical in seeing the bigger picture. Currently, most companies that measure social media metrics for example offer modules. Having a module "menu" gets expensive, it's time consuming from a training perspective and does not address your business needs moving forward. Having the ability to integrate certain existing tools into a central dashboard will be a benefit that will drive better decision making. This is how AI Marketing Automation can help.
Automation - Automation in itself is another benefit. Saving time is valuable. Ask any CMO and they’ll tell you that time is one of the biggest challenges they’re faced with. If AI Marketing Automation can automate certain tasks and take into account multiple data points that can be funneled into a semi-automatic decision, this is where we can further benefit from. Freed up time can also be used in a a more creative way. For example, more time can be spent on content creation that is valuable (informative) and engaging.
The "Bad" - AI Marketing Automation will eventually be part of marketing and this is a good thing. Having said that, organizations need to be on top of AI and marketing development so that, as more data points are collected, better decision can be made. The challenges or the “bad” side of AI is that it’ll take time to understand and implement. Let’s face it, most organizations today don’t even have the tools to measure basic marketing metrics. Companies that will not invest capital, time and resources in AI will be left behind as the powerful combination between AI Marketing Automation and marketing overall will give us the ability to better understand consumers’ needs and wants.
What are your thoughts on AI and Marketing Automation? How will this impact your business?