More on Innovation
With the emergence of a digital era, the marketing landscape has grown to become versatile and immersive. It’s an ecosystem under constant change, making it imperative to keep on top of trends. Importantly, it allows you to be of benefit to your brand, and also – to a large degree – the clients and businesses you’re involved with.
As we near the half-way point of 2019, we notice the importance weighed into customer or user experience, facets that focus on micro moments, highly targeted advertising, and functionality. But that’s not all; in most cases, these innovations run through a constant process of refinement – AI-driven, mostly.
But given all the advancements, where exactly does marketing stand with next-generation technologies? What combines them, or better yet, what are the factors we ought to keep an eye on moving further into 2019 and beyond? Let’s take a look.
Even within the siloed context of digital marketing, the field of artificial intelligence is rather broad. In the marketing context, AI usually fits into the meta-analysis of broad-spectrum data sets, and using said data sets to make business decisions. Despite the technology still being in its infancy, we live in a world with examples stemming from our day-to-days.
For example, Netflix and Amazon have built-in AI features that help with transactions and recommendations. In the future, it’s possible for the system to also participate in face and voice recognition, digital assistants, content creation, chatbots, and targeted marketing strategies. It’s expected to become the norm with respect to marketing strategies due to its spectacularly accurate ability to analyze consumer behavior, which in turn feeds into something more personalized and interactive.
Think Google Assistant or Alexa for starters. AI-powered digital assistants are designed to stay connected to people and assist with functions in their day-to-days. The market on these personal assistants is predicted to reach roughly 1.6 billion users by 2020. In fact, devices made by different companies are even able to connect with each other for information; they are, in a way, collaborating.
On the other hand, users will be given the opportunity to watch AI evolve on a business and personal level. AI-based technologies are pacing to improve at a rapid pace, including voice recognition and other personalized services – based on the data analysis of consumer behavior.
It’s more about how we’re beginning to use social media as a platform, as a variation to its original purpose. What once started as a platform for peer-to-peer interactions has now evolved into a place of entertainment, with users watching more videos or digital media than specifically using them for social purposes. Additionally, users are now beginning to increasingly demand a more user-focused and less ad-focused means of interacting with peers or being entertained.
This urges marketers to keep an eye on how social media platforms choose to incorporate new and explicit advertising strategies, in addition to understanding smart and implicit methodologies to collecting customer information.