AI TO THE RESCUE OF ADVERTISING SALES
Artificial Intelligence is becoming integral to the enhanced working of companies, their departments and their processes. Marketing departments are gung - ho about AI and its many advantages. Salesforce's State of Marketing Report reveals that over 80% of marketing teams are / have used AI in the recent past. This indicates that AI use is increasing leaps and bounds. How exactly is AI being used by them? The answer is improved personalization to enhanced segmentation, insight discovery, forecast modelling & process automation.
Listed below are ways that AI is helping in advertising sales:
Data collation and consistency. AI is used in conjunction with a tool like a Customer Data Platform to enhance identity matching. Algorithms may be used to perform “fuzzy matching” on IDs and fix discrepancies. And AI is used to ensure that data from varied systems is plotted to a common data model to ensure consistency. Data is king and it is imperative that data from all sources is collated, clean, accurate and consistent to be usable and gain insights.
Improved audience segmentation and discovery. They key to a company's success in the age of digital and social tools is personalisation. People are more likely to remain engaged and buy from companies that provide relevant digital experiences across all channels. This requires holistic data and smart algorithms to uncover segments and requirements. Intelligent segmentation is a forte of AI. Clubbing clients and leads that have things in common is a piece of cake for AI as compared to us humanms.AI can scan the huge amount of data for patterns that can lead to useful segmentation. AI can also lead to formation of micro or niche segments thus ensuring that personalised messaging and products / services are available to win the much-needed hearts and minds.
Natural language crosses paths with technology. AI is changing our lives via natural-language processing (NLP) and image recognition. For example, chatbots on websites as well as voice interfaces. AI can reduce the time spent at certain tasks as speech recognition approaches 95% accuracy and voice navigation gets popular. The efficiency of employees will register an uptick and focus can be on the task of selling rather than searching for information etc.
Better back end processes and production. It improves the productivity of the sales team by assigning priority to tasks and enabling them to focus their efforts on boosting sales. Prospect scoring is an area that gains via AI. It is now gaining popularity with sales teams. For advertising sales people, AI enables linking of current stock with direct sales opportunity that are likely to materialise.
Better measurement of efforts. AI helps relevant stakeholders to analyse if their advertisements etc are helping the company or not. To analyse the usefulness of different channels advertising requires collecting data from disparate sources, making sense and presenting it to users in the form of simple reports & dashboards. This is where AI sweeps down as a superhero and does its bit to reveal what works and what doesn't.