With the help of artificial intelligence (AI), advertisers can create targeted advertisements that correspond with an audience’s interests, traits, hobbies, etc. This targeted approach can greatly improve the effectiveness of marketing campaigns and optimise ad spending. In this article, we’ll discuss how technology providers, specifically digital marketplaces, are applying AI to drive growth, improve efficiency, and optimise marketing performance.
Digital marketing strategy planners (DSPs) are specialists who come up with an advertising campaign to promote a brand or service. They are usually experts who have to work within the constraints of a limited budget and aiming to achieve a specific set of results.
DSPs create content to educate the audience about the brand or product and build a brand image and trust. They measure the success of their strategy in terms of gaining interest, building trust, and achieving sales.
With the growth of digital marketing, many DSPs have turned to AI to better manage their workload, increase efficiency, and provide better insights into their strategies’ success.
AI-Driven Market Research
DSPs, or demand-side-platforms, are where buyers and sellers meet to transact business online. They operate within the digital advertising ecosystem and play a crucial role in determining demand for the products and services advertisers promote. Without a centralised location for consumers to research and compare products, it’s near impossible for businesses to efficiently target consumers with personalised advertisements and improve conversion rates.
AI can play a big part in helping DSPs perform at their best. For instance, when a user interacts with an advertisement, the platform can learn more about the individual and their interests, which in turn allows the DSP to serve more relevant ads.
AI can also be integrated into online research platforms, like Google Search or Amazon Search, to provide quick answers to consumer questions. This form of AI (QAI) enables businesses to easily and efficiently provide information to customers while also generating leads and increasing engagement.
The Importance Of Personal Data In Marketing
Marketing is a broad term that can refer to the process of communicating information about a product or service to customers to convince them to purchase the item in question. Marketers can use various methods to collect personal data, such as storing cookies on users’ devices, collecting information via opt-in forms, or buying demographic data from third-parties.
However, this type of information is only as valuable as the business applies it to. Without accurate consumer data, marketing becomes a guessing game where marketers must resort to broad demographics or arbitrary assumptions about customers’ interests, which in turn hinders the effectiveness of any marketing campaign.
AI can greatly improve the way marketers go about their job. First off, AI enables marketers to automatically collect and organise vast amounts of personal data from consumers. This constant streaming of information puts power in the hands of marketing professionals and makes the creation of personalised advertisements a reality.
Secondly, AI enables marketers to quickly analyse and act on consumer data, providing them with immediate results and growth opportunities. With this type of analysis, a marketer can see which advertisements are performing the best and target future campaigns towards these particular groups of consumers. This targeted data gives a clear picture of exactly what resonates with a particular audience and enables marketers to become hyper-efficient in their approach to marketing.
The combination of these two technologies, data collection and AI analysis, makes marketing more effective and efficient. With AI, marketers can easily target groups of consumers with specific interests and offer them relevant advertisements. This level of personalisation greatly improves the chance of a product or service being noticed, increasing conversion rates and generating leads.
Why Are DSPs Interested In AI?
DSPs are always looking for ways to make their platform more efficient, effective, and user-friendly. AI can play an integral part in helping them to do this. For instance, if a user has to go through several pages of search results to find the product they’re looking for, or if they have to sort through several lists to find the information they desire, AI can help by providing them with the answers directly on their screens. This saves time and effort for both the consumer and the DSP, improving the user experience and the efficiency of the platform as a whole.
DSPs are also interested in integrating AI into their platforms because it can improve their user experience and the way they interact with consumers. When a user interacts with an advertisement, the platform can learn more about the individual and their interests, which in turn allows the DSP to serve more relevant ads.
These are just some of the ways in which AI is changing the way consumers and advertisers connect. Over the next few years, AI will play an important role in connecting and bringing people together from all over the world, enabling marketers to efficiently target audiences and grow their business.
Why Use AI To Make Decisions?
Decision-making is one of the most critical functions in an organization. In the case of a DSP, the decisions they make can have a huge impact on the success of their strategy. This is why AI has become so valuable to them. With the right data and intelligent algorithms, AI can provide quick and accurate answers to complex questions. This allows DSPs to spend less time struggling with mental workload and more time focusing on creative strategy.
The Future Of Digital Marketing
As AI grows more sophisticated and the data it processes gets bigger and richer, marketers have to keep improving their game. Otherwise, they will be left in the dust. This is why digital marketing is constantly evolving. While the basics of search engine optimisation and paid ads remain the same, the methods and tools for performing those functions change regularly to stay ahead of the curve.
For instance, let’s say you are entering the car market and want to find the best-selling vehicle. You can use Google Trends to search for this information and easily discover that the best method of finding what you are looking for is to use the search term “best selling cars” along with the name of the model you are interested in (e.g., “best selling cars honda”).
Similarly, if you are in the real estate market and want to find an agent who is skilled at marketing luxury homes, you can use Google to search for keyword phrases like “luxury real estate agent” and see a list of agents who match your needs. Using these tools can save you a ton of time in your search for an SEO specialist or PPC manager.
How To Leverage AI In Your Digital Marketing Strategy
Now that you know the powerful capabilities of AI, how can you put them to work for you? One suggestion is to build a digital marketing strategy with the guidance of a skilled marketing partner who can help you use data and AI to its fullest potential.
Ref: https://medium.datadriveninvestor.com/10-applications-of-artificial-intelligence-in-digital-marketing-a562a37db2bd
To start, you should identify the problems you are having and the goals you are trying to achieve. Then, build a list of keywords and search phrases that relate to your goals. Next, develop a content strategy. For example, if you want to increase web traffic to your real estate site, you could create content such as:
- Product overviews
- Informative guides
- How-to blog posts
- Roundups of the week’s biggest news stories
- The latest trends and best practices in real estate
- And more
As you develop content for your site, use a keyword analysis tool like Google Keyword Planner or Wordstream to find the keywords and search phrases that you should focus on. With these tools, you can enter your content and choose between the broadest range of options or the ones most relevant to your site. You can also see how many times your content has been searched for and how competitive the search terms are.
To attract potential customers, you will want to create content that is informative, engaging, and concise. To keep those users engaged, you need to continuously refine and update your content to suit their needs. When you have developed a significant amount of content, take a moment to review it and decide whether or not it is effectively communicating your message and satisfying your goals. If not, you might want to consider revising and repurposing your content.
To attract potential customers, you will want to create content that is informative, engaging, and concise. To keep those users engaged, you need to continuously refine and update your content to suit their needs. When you have developed a significant amount of content, take a moment to review it and decide whether or not it is effectively communicating your message and satisfying your goals. If not, you might want to consider revising and repurposing your content.
Where To From Here?
With the proper guidance and assistance from a skilled marketing consultant, you can put AI to work for you and achieve stunning results. Ultimately, the success of your strategy will depend on how effectively you can carry it out. To put it simply, nothing will stop you from succeeding, except yourself.
So, where do you want to go next? Are you looking to improve your general knowledge, develop a new skill, or accomplish a specific goal? Start by identifying the problems you are having and the goals you are trying to achieve. Then, build a list of keywords and search phrases that relate to your goals. Next, develop a content strategy. For example, if you want to increase web traffic to your real estate site, you could create content such as:
- Product overviews
- Informative guides
- How-to blog posts
- Roundups of the week’s biggest news stories
- The latest trends and best practices in real estate
- And more
As you develop content for your site, use a keyword analysis tool like Google Keyword Planner or Wordstream to find the keywords and search phrases that you should focus on. With these tools, you can enter your content and choose between the broadest range of options or the ones most relevant to your site. You can also see how many times your content has been searched for and how competitive the search terms are.
To attract potential customers, you will want to create content that is informative, engaging, and concise. To keep those users engaged, you need to continuously refine and update your content to suit their needs. When you have developed a significant amount of content, take a moment to review it and decide whether or not it is effectively communicating your message and satisfying your goals. If not, you might want to consider revising and repurposing your content.
Conclusion
DSPs (demand side platforms) were initially created to help advertisers run ad campaigns on social media platforms like Facebook and Twitter. Over time, however, these platforms changed the way that marketers and advertisers work together. Today, DSPs assist in any phase of the marketing process, from strategy to measurement. As a result, advertising as we know it has changed.
The advent of digital marketing has made it possible for DSPs to gain insights into consumer behaviour and tailor their services to fit the needs of advertisers. For example, if you’re an advertiser who’s looking to engage with consumers on YouTube, you can hire a DSP to help you optimise your campaign. Doing so may mean creating multiple versions of your short video—one for each platform, like YouTube, Instagram, and Facebook—to see which performs best.
The amount of data that marketers can access has also grown exponentially. Years ago, if somebody wanted to know more about their customers, they would have had to rely on customer service representatives to provide them with this information. These days, however, marketers have at their fingertips everything they need to know about their target audiences.
Even more exciting is the fact that when companies work with marketing analytics platforms, the data is accessible from various locations, such as the web and mobile apps. As a result, marketers can track the effectiveness of their advertising campaigns across multiple digital channels and locations with one platform.
So, what did we learn from this overview of the role that DSPs play in the evolution of digital marketing?
As marketing has evolved, so has the role that DSPs play in its success. From simply running campaigns to providing insight into consumer behaviour and data-driven marketing, DSPs have continued to contribute to the evolution of marketing.
