Artificial intelligence
Also known as AI, is defined by dictionary.com as "the capacity of a computer to perform operations analogous to learning and decision making in humans, as by an expert system, a program for CAD or CAM, or a program for the perception and recognition of shapes in computer vision systems." We're seeing it all over. Alexa, Echo, spam filters on email, mobile check depositing, Facebook's facial recognition, and so on. Because we're so surrounded by artificial intelligence, we don't even think twice about it. Now, if it were taken away, we'd be pretty shaken up (how do you get anywhere without Waze or google maps?!).
Now, take AI and apply it to marketing
Leveraged correctly, AI will make it easier for marketers to focus on generating results. It will also help them to better incorporate attribution data to use AI more effectively. Therefore, they will see more clearly the cause and effect relationship their actions have. With time, it will make marketing more predictably reliable. And, as a result, marketing will be much more competitive, cutthroat, and fast-paced.
Impact
"Half The Money I Spend On Advertising Is Wasted; The Trouble Is I Don't Know Which Half." The famous quote once stated by John Wanamaker (the marketing pioneer), will soon fade. As will the days of not knowing exactly what kind of impact your marketing budget had.
We've seen some of this transformation take place with direct response advertising. Such as, PPC ads in search and social, email marketing, and marketing automation. The introduction of AI is going to make it easier for marketers to track the efficacy of awareness and impression-based advertising as well.
With enough data, marketers will know exactly where their success came from. Whether it's through their partnership deal with a major sports team, or product placement in a blockbuster film. They'll also be able to clearly see how much of that success was brought about by supporting campaigns or entirely unrelated elements.
What to expect
Properly synthesizing that much information on the go is a losing investment for most medium and small businesses. It's also going to be a huge investment for larger firms. And, they will find themselves more frequently disrupted by technology-driven startups.
As AI becomes more commonplace and this information is available to all, marketing will change. Marketers will see many inefficient forms of advertising media die off while those that drive results will become far more competitive than they are even now.
Now what?
Many marketers struggle with finding the right tools, plugging in the correct information, and holding themselves accountable for the impact made.
...that there is a tool out there that you should know about? One that shows you the matrix metrics to measure to ensure your marketing efforts generate ROI. And, where to focus your efforts to achieve the greatest impact.