Determining a Business Value for Utilizing AI in Your Marketing
In its recent report on Marketing Resource Management (MRM) vendors, Forrester Research devotes space to what it calls “[Artificial Intelligence]-informed content and processes” and the impact it has on marketing departments. A copy of the report can be found here.
In this blog, I will dive a little deeper into this concept to help organizations formulate a business value to utilizing Artificial Intelligence (AI) in their various marketing activities and processes.
The general reason for adopting AI is that most marketing departments are so focused on the outbound execution side of things, they forget that tremendous savings can be found in using this emerging technology to expedite content creation and simplify the internal coordination of getting their activities completed.
Let’s start with defining a baseline summary of how AI can transform content and processes and then how a business can measure the impact in real ROI:
Artificial Intelligence (AI) is a broad technology category that seeks to enable machines to do critical thinking that is normally done manually. An easy way to think about this is by going step by step through some of your more tactical day-to-day content-related tasks and then imagine a computer doing those exact steps but to perfection every time and without getting distracted or tired.
Deeper definitions and information about the different types of AI can be found here.
Now, let’s add in a layer around the company’s content strategy and activity management to arrive at some simple business drivers:
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AI-Driven Content Use Cases |
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Improvement Area |
Description |
Business Value Driver |
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Asset Tagging |
Rather than a simple singular tag for an image of a car, AI-powered tagging solutions could automatically label it as a “2018 Toyota Camry car driving in rain.” Each of those words (or combination of them) then becomes searchable in the digital asset management (DAM) solution.
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Image Use Suggestions |
Imagine you have a creative brief for a new piece of content. Based on some of the fields and the general feeling conveyed, the AI solution could suggest five different existing images to use with it. |
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AI-informed Processes |
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Improvement Area |
Description |
Business Value Driver |
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Routing tasks to the most optimal resource
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An AI solution could consider the type of request (digital ad, print ad, website imagery, photography, etc.), existing workload), and historic performance benchmarks (how did a previous asset of this type perform made by this resource) to route tasks down the most optimal path |
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Improve methods for tying performance back to content
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In a multi-channel, complex customer journey, the sheer volume of data can be difficult to parse through. But as AI can become more accurate in its modeling as more data is added, it can combine asset review with all the creation costs, resulting in an incredibly accurate and timely ROI analysis. |
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Are you interested in learning more about how you can determine a business value for utilizing AI in your marketing? Watch our on demand webinar, “Optimizing AI for Marketing: What’s the future and what’s just hype?” to learn about some real-life case studies where AI is driving meaningful business value for organizations and how you can take advantage of this emerging technology.