Paid ad campaigns for many are staples in todays marketing drive. The management alone involves allocating a budget across multiple channels, tracking design effectiveness, a/b testing, building on audience insights and monitoring the results, just to name a few. A successful marketing campaign tends to be split somewhere between 40% art and 60% science. With so many variables, paid advertising has become a full time job. However due to the amount of data, human beings on their own, are not the most effective at using this to action the best paid advertising campaigns.
The best paid advertising requires building insights from an extensive amount of data to optimize factors like budget and creative quickly, then using past performance to drive results. We as humans are not great at this kind of lightning fast, multitasking at high speeds but Artificial Intelligence is.
When machines are put to work using their strengths in a data driven world, working 24/7 in real-time, at a pace that exceeds human beings, it is easy to understand the potential for success. Allowing us more time to focus on the creative and strategic (and in my opinion much more fun) side of advertising.
What is Artificial Intelligence doing today?
As data continuously increases, there emerges the need to enlist extra assistance to make sense of it all. AI excels at finding patterns and insights from data checking through thousands of variables. Ad campaign performance and effectiveness can be significantly improved by using data to adjust the campaign specifics accordingly. All whilst reducing human error and personal subjectivity.
It makes sense that as the education and presence of A.I. increases, the way to stay effective will be to make use of the tools that are being made available by companies today.
However in which way will you implement AI for your ad?
Many of the toolkits offered require additional training and time spent to learn how to best implement AI within an organisation. This is difficult to stay on top of as we know the fast pace at which technology advances, new features, and functionality all need a dedicated focus. Depending on the size of your organization and the type of set up you have inhouse, this may not be the best option for your company.
A hybrid of both the AI driven technology and experienced human management can work as a nice in between, so you can immediately experience the benefits. OMPA (Optimize and Manage Paid Ads) uses A.I. to rapidly test thousands of variables at scale, this includes demographics, geography, behaviours, interests and further customer data. To really assist marketing teams in utilising AI to its maximum benefit, a dedicated team is allocated to action and manage campaigns. This means a company’s marketing team is given full time to focus on the creative and strategy moving forward.
Already use cases can be seen in which AI has increased the effectiveness of advertising campaigns far beyond what is possible by human means. This will only continue to be surpassed with the advancement of AI. The exciting byproduct here is the additional time for teams to be creative and focus on delivering a unique and relevant experience for their customers. With this, chatbots and big data there is a lot of interesting developments for companies to innovate with. Enter your details below to be kept up to date!