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Customer Data: Wielding the Power of AI Wisely - CMSWire

Customer Data: Wielding the Power of AI Wisely - CMSWire | The MarTech Alert | Scoop.it
As brands everywhere grapple with the "new normal,” which includes a new receptivity on the part of many consumers to trying new brands and ways of shopping, knowing what they want is more important than ever. Not surprisingly, there’s a significant push to embrace personalization across a brand’s digital touchpoints. According to market research Acquia recently completed surveying 8,000+ marketers across eight countries, 96% of respondents reported they have seen improvements with customer engagement after personalization initiatives. Half of marketers surveyed also reported seeing increased engagement with their brand and 41% experienced more repeat purchases.

AI is swiftly becoming one of the most important ways brands are maximizing the value of vast amounts of customer data and creating the most personalized digital experiences at scale. In that same study from Acquia, 44% reported adopting AI and ML tools in the past 12 months. Strong uptake isn’t surprising: a 2019 Deloitte survey of 1,100 U.S. advertising and marketing firms considered early AI adopters found that 82% reported positive ROI for their AI initiatives.
CYDigital/marteq.ios insight:

AI usage does not resolve the issue of data privacy, and is not as accurate as the data provided directly from the consumer to you.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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How AI in Marketing leads to Enhanced Branding - MarTech Cube

How AI in Marketing leads to Enhanced Branding - MarTech Cube | The MarTech Alert | Scoop.it
One of the most talked-about products of AI in marketing is a reliable insight into the buyer’s personas. These financial representations of buyers or customers help businesses make well-informed marketing decisions.

A case study discovered that a website constructed on its buyer personas resulted in a 900% increase in visit duration and a 171% increase in marketing-generated revenue. AI simulation and modeling techniques draw a clear picture of the psychology and purchasing behavior of buyers.

This year, in 2020, AI and ML are expected to bring context and relevance to every marketing brief. The use of AI and ML has enabled businesses to enhance brand positioning, deliver strategic and targeted communication, apart from improving the consumer experience. More importantly, AI has allowed brands to become more relevant to consumers by getting a peek into their requirements and delivering upon it Demandbase Research with Salesforce Pardot Shows that 85% of Marketers Using AI Believe It Will Drive Double-Digit Revenue Growth Within Two Years
CYDigital/marteq.ios insight:

When you apply AI to the data volunteered by consumers to you (in exchange for a digital reward), there can be no better approach for the marketer.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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How AI has evolved in the marketing industry – and where it’s headed next - ClickZ

How AI has evolved in the marketing industry – and where it’s headed next - ClickZ | The MarTech Alert | Scoop.it
  • The arrival of personalization and artificial intelligence-based technologies has vastly changed how marketers can achieve the ultimate customer experience, equipping them to better connect with their target audiences.
  • Machine learning algorithms found a new home in marketing stacks in the late 2000s, but marketers were not ready to accept a black box.
  • Soon enough AI gained further trust from marketers and became a must-have, with more and more brands viewing it not as the sole decision-maker, but as a vital tool for augmenting the decision-making process.
  • As the deployment of cloud infrastructure made AI more affordable and scalable, some brands began putting such faith in AI that they began treating it as black box, leaving it to make decisions with little human involvement.
  • Today, these advanced algorithms are providing a quantum leap in the quality of experiences they enable, but marketers must understand the value they yield. In the future, a hybrid approach should be expected, with greater investments in algorithms that provide results while also affording marketers control.
CYDigital/marteq.ios insight:

Just remember that AI is as good as the data upon which its created. And the absolute best consumer data available today is extended zero-party data. BTW: to leverage eZPD, you don't need AI.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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AI in Marketing: What, Why, and How? - MarTech Outlook

AI in Marketing: What, Why, and How? - MarTech Outlook | The MarTech Alert | Scoop.it
Here is more about the applications AI marketing platforms consist and how they are working in favor of digital marketers today.

1) AI Marketing focuses on media and provides thorough analysis in media selection and media purchasing, including audience analysis, conversion contexts, bid and cost management, and investment analysis.  

2) Chatbots is a major medium for marketers to deliver timely responses and customer service to visitors. 

3) AI-based marketing automation tools enable marketers to create content, customer segmentation, and email templates automatically.
CYDigital/marteq.ios insight:

All nice, but I'm still looking for AI as applied to product innovation.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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4 Ways AI is Driving Better Customer Experience - CMSwire

4 Ways AI is Driving Better Customer Experience - CMSwire | The MarTech Alert | Scoop.it
1) AI Facilitates a Better Understanding of the Customer: The combination of AI and machine learning for gathering and analyzing social, historical and behavioral data enables brands to gain a much more accurate understanding of its customers.
2) Real-Time Decisioning and Predictive Behavior Analysis: Real-time decisioning is defined as the ability to make a decision based on the most recent data that is available, such as data from the current interaction that a customer is having with a business — with near-zero latency. 
3) AI Chatbots Come of Age
4)AI for Hyper-Personalization: Hyper-personalization combines AI and real-time data to deliver content that is specifically relevant to a customer. 

Currently, the greatest challenge for brands using AI is that customer data is spread out among many different channels and disparate systems, and much of it is siloed. All of the data needs to be unified before it can be analyzed by AI. Given the exponential amount of data that is produced throughout the customer journey, many brands are using a Customer Data Platform (CDP) to unify and analyze that data. 

CYDigital/marteq.ios insight:

One of these days I'll find the definitive definition of AI as it relates to marketing and marketing technology. It's akin to the "blind men and an elephant" parable.

 

Get the new whitepaper "Discover New Revenue Opportunities Using Extended Zero-Party Data": http://un.marteq.io/WP1/ #martech #marketing

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How blockchain technology can save AI - CryptoSlate

How blockchain technology can save AI - CryptoSlate | The MarTech Alert | Scoop.it
Much of what we term AI today results from the application of Machine Learning to extraordinarily large amounts of data. To be precise, it is the application of so-called Deep (Machine) Learning techniques that has enabled the rise of voice search and voice-activated assistants such as Siri, healthcare innovations in areas such as cancer diagnosis and treatment, face recognition such as AWS Rekognition and the broader areas of image and video analysis and recognition, machine translation including tools like Bing Translator, speech recognition tools and the emergence of the so-called self-driving automobiles and more. Technically, we should call this the Deep Learning resurgence, and not the AI resurgence.

Blockchain platforms have led to incredible advances in the design and development of decentralized applications and systems and have been applied to domains ranging from cryptocurrencies to enterprise supply chains. More importantly, there are two capabilities that blockchains enable due to their inherent decentralized implementation.

First, blockchains provide the ability for users to be in control of their data and to decide when, where, to whom, and for how long to provide access to their data i.e. blockchains are the anti-thesis of systems that intrinsically and automatically exploit the user’s private data. Further, with the advent of Zero-knowledge proofs, blockchains now have the ability to reveal nothing about a transaction except that it is valid.

Second, blockchains are designed without a central authority or system. Therefore, in order to achieve agreement on both data and transactions, blockchains use a variety of fault-tolerant consensus algorithms. While there is an assortment of consensus algorithms, all of them share similar characteristics with respect to achieving agreement across a decentralized set of nodes (or systems). In particular, a variant called Byzantine Consensus addresses the Byzantine Fault Tolerance problem referred to earlier. Blockchains enable the development of AI applications that are not reliant on a single-vendor implementation with all of their concomitant risks and faults.

Together, these two critical capabilities have the potential to enable today’s Machine Learning implementations to address their Achilles Heel and to enable AI applications that are both not privacy intrusive and not susceptible to the single-vendor Byzantine Faults.
CYDigital/marteq.ios insight:

Excellent insight as to how AI/ML can be (significantly) improved.

 

Learn why blockchain is the next step for MarTech and AdTech. Read the white paper: https://www.marteq.io/#7 #martech #marketing

CYDigital/marteq.io's curator insight, October 28, 2019 3:45 PM

Excellent insight as to how AI/ML can be (significantly) improved.

 

Curated by CYDigital: Empowering Marketers, One Blockchain at a Time https://cyd.digital #zeropartydata #martech #marketing