Madison World’s Milan Modi Speaks: Crafting Success in Digital Advertising
Milan Modi, a Business Director (Digital) at Madison World is a seasoned professional with over 8 years of expertise in Paid Digital Media. He has garnered accolades as India’s Best Marketers & Planners and “Young Guns Advertising Male.”
With a track record of 72+ awards for groundbreaking campaigns, including Pidilite, Raymond, and McDonald’s, Milan is a visionary in leveraging Metaverse, NFTs, and AR filters. In this interview, he shares strategic insights into the evolving digital landscape, audience targeting post-cookie era, and innovative approaches to digital advertising. His journey exemplifies a commitment to excellence, making him a dynamic force in the advertising and media industry.
Can you take us through your professional journey and share some of the memorable moments you encountered in your decade-long tenure in the advertising industry?
First of all thank you very much for gracing me with this occasion, thanks for allowing me to be a part of this noble program where you share the experience of some of the finest minds in the country, so others can benefit from it.
I come from a local Mumbai background and was fortunate enough to complete my formal education in this same city. Numbers have always excited me, and I’ve been surrounded by them throughout my journey. Whether it was my first internship at HSBC Bank or my initial professional experiences at Fractal AI, Publicis Group, and Madison World, I’ve consistently been in fields where numbers are paramount. While the early years were dominated by the left brain, the integration of creative and media has now engaged my right brain as well.
Reflecting on some memorable moments in my career, I’d like to highlight my first major digital marketing campaign for the largest bank in India, HDFC Bank. We achieved tremendous success in terms of media branding and performance metrics, earning numerous case studies and awards. It marked the significant announcement of their Personal Loan Campaign.
You oversee branding and performance marketing responsibilities for various well-known brands across several verticals. How different or similar are the strategies that you formulate for them?
In both performance and brand marketing, our unwavering focus is on “Consumer First.” The ongoing battle between push and pull strategies remains a constant consideration. In our approach to brand marketing, we go beyond mere media attention, ensuring that our messages are not only contextual but also deeply relevant to the end consumer. The era of one-size-fits-all is long gone, with marketers now actively tailoring communication to meet the unique needs of each consumer—something every marketer, being a consumer themselves, can relate to. In our efforts, we consistently adhere to the fundamental principles of reach, frequency, continuity, impact, and weeks on air.
Performance marketing has undergone a significant transformation. While Google Search stands out as a primary choice for every marketer, we strategically engage with consumers on other intent-based platforms before transitioning. Techniques such as lead nurturing, lead scoring, UI/UX optimization, post-click experience enhancement, and regular follow-ups, though seemingly basic, play a pivotal role in achieving the ultimate conversion. To excel in the performance game, we also prioritize regional creative, landing page quality, and a well-established call center setup, ensuring a seamless and exceptional consumer experience.
With so many ad content options such as text, images, and audio available to advertisers, what according to you is the most effective in translating the message to audiences? What are some of the techniques you use to track campaign performance at Madison World?
With user touchpoints increasing daily, and every app on smartphones or any available wall serving as an ad unit, it’s crucial to track each touchpoint. One fundamental truth that has consistently worked for us, and that we strongly believe in, is the power of customization. Whether it’s a video, audio, text, or image banner, our aim is to tailor the communication on each media/platform according to its best practices.
For instance, the rendition of a video on Instagram Reel (or YouTube Shorts) differs from one on YouTube Home Feed or an OTT Ad. Similarly, an ad on Sharechat/Moj varies from that on Television. Even in Cinema or outdoor settings, customizations are recommended. While the core message remains the same, the rendition adapts to each media/platform.
When it comes to measurement, we compare the platform benchmark to the X Category Benchmark against our campaign numbers to evaluate its effectiveness. Search Lift, Brand Lift, MediaMixModelling, and Sales Lift are also some of the ways we gauge campaign effectiveness.
As Google’s third-party cookies will soon be banned permanently, how have you seen it affect the digital landscape and what potential setbacks do you see?
Yes, this has been the buzzword for some time, and the juggernaut Google has been postponing the date of cookie deprecation. But in my view, the demise of third-party cookies will reshape the way targeting is done in the digital landscape.
Shift towards first-party data: With third-party cookies becoming obsolete, there will be a heightened focus on first-party data. Brands and advertisers will need to invest in building and leveraging their data to maintain effective targeting and personalization strategies. We have been emphasizing the importance of advertisers owning the data of visitors coming to our landing page. This first-party data will be invaluable when the cookies sunset.
Dominance of Walled Gardens: As third-party cookies decline, the dominance of walled gardens (platforms with closed ecosystems) might increase. This could potentially limit advertisers’ ability to gather cross-platform insights and data.
Rise of New Ad-Tech Solutions: The industry is likely to witness a surge in innovation as ad-tech companies develop alternative solutions for targeting, attribution, and measurement that don’t rely on third-party cookies.
Challenges in Attribution Modeling: Attribution Modeling Complexity: Attribution models heavily rely on third-party cookies to track user journeys and attribute conversions. The absence of these cookies may lead to challenges in accurately attributing conversions across various touchpoints in the customer journey.
What audience-targeting KPIs do you look to achieve across biddable platforms? What changes do you oversee in this field and how have you prepared to align with them?
Achieving effective audience targeting across biddable platforms involves setting and monitoring key performance indicators (KPIs) aligned with campaign objectives and business goals. Here are some common audience-targeting KPIs and considerations for overseeing changes in this field:
1.Click-Through Rate (CTR), Conversion Rate, Cost Per Click (CPC), Cost Per Acquisition (CPA), CPM, and Engagement Rate Metrics.
We analyze each audience’s performance based on the above and make conscious decisions to continue, amplify, or discontinue the targeting.
2.Changes in Audience Targeting and Preparation:
Privacy-Focused Changes: There’s an increasing emphasis on privacy regulations and restrictions on user tracking. Some platforms already don’t allow targeting iOS users.
Cookie Depreciation: The phasing out of third-party cookies impacts cross-site tracking, necessitating a focus on building and leveraging first-party data, exploring alternative identifiers, and adapting attribution models. Google Analytics 4 has introduced “Enhanced Conversion tracking,” which, though in initial phases, has the potential to be a game-changer.
Machine Learning and AI Advances: With the buzzword of AI, we’ll witness the growing use of machine learning algorithms for advanced audience targeting. Numerous partners work in the field of AI technologies, collaborating with Meta and Google platforms for further optimization.
Cross-Channel Integration: Recognizing each consumer as one, advertisers now need to develop integrated marketing strategies, align messaging across channels, and utilize platforms that support cross-channel targeting and measurement.
In the Indian media landscape, CTV is booming, and brands are utilizing Virtual Product Placement. How do you think brands could leverage these technologies together? What are some challenges or potentials?
The convergence of Connected TV (CTV) and Virtual Product Placement in the thriving Indian media landscape offers exciting opportunities for brands. Leveraging these technologies together can elevate the overall viewer experience, boost brand visibility, and drive engagement. CTV stands out as one of the fastest-growing mediums in India, with over 20 million households embracing CTV connections, reflecting a significant trend in cord-cutting.
Immersive Brand Integration: Brands can seamlessly integrate virtual products into CTV content, providing viewers with an immersive and non-intrusive experience. It’s crucial, however, to strike a balance, as it may sometimes come across as intrusive and non-authentic or gimmicky.
Audience Targeting and Personalization: Brands are increasingly adopting customized communication strategies, tailoring content to different CTV audiences based on geographical locations and linking it to the nearest store in that market. This approach proves effective in precisely targeting CTV audiences.
Interactive and Shoppable Experiences: A simple integration of a QR code allows brands to directly redirect users to the Direct-to-Consumer (D2C) website for convenient purchases.
Branded Content Integration: While content is hosted on a brand’s channel, certain partners virtually integrate the brand into the show at an economical cost. This subtle integration organically enhances the brand’s visibility. Additionally, collaborate with content creators to seamlessly integrate virtual products into their productions, leveraging their creativity and storytelling skills.
Smartphone usage has increased in India, thanks to affordable and accessible internet. How important is mobile advertising to reach target audiences today?
As per industry reports, India currently boasts the most affordable per GB data prices globally. The prevalence of low-cost smartphones and internet accessibility on feature phones has transformed the smartphone from a luxury to a basic necessity. In 2023, TV and Digital collectively constitute over 70% of the Advertising Expenditure (AdEx). Digital AdEx, surpassing TV, is anticipated to reach Rs 43,000 crore by the end of the year.
India stands out as one of the rare countries with a predominantly mobile-first population, a generation that entirely skipped the Desktop/Laptop phase and initially accessed the internet through mobile devices.
Targeting: Digital Marketing offers precise targeting, allowing brands to save marketing expenses by reaching only specific demographics rather than mass audiences.
Measurement: The extensive measurement capabilities of Digital Marketing have made it an integral part of every marketer’s media mix.
On a Pan India scale, YouTube’s reach is approximately 50% of the TV universe. Notably, in markets like Bihar, YouTube’s reach has surpassed that of TV.
What are some of the campaigns that have stood out for you and why? What were some of the takeaways from these campaigns and how were the different from any others?
- Content: The Fevicol 60 years celebration campaign marked a paradigm shift in how audiences consume content. We pioneered a new approach to market a 90-second film on various media platforms.
- Tech: In a category as challenging as Condoms, where major platforms like Star TV, YouTube, and Meta impose advertising restrictions, we changed the marketing strategy by creating NFTs and Metaverse for the brand called Kamasutra Condoms.
- Multimedia: For Raymond, we employed a combination of online and offline signals to leverage the surge in user queries, marking a first-ever achievement.
Would you like to give a word of advice to young professionals looking to venture into the advertising and media industry?
For young individuals aspiring to pursue a career in advertising and marketing, the first step is to understand what excites you every day. Identify what motivates you to go to the office and what you can envision doing for 30 years without getting bored.
Once the answer is clear, delve into understanding consumer behavior within the respective category. This aspect is crucial, and those who can decipher it are clear winners. All marketing strategies, be it creative, communication, or media, revolve around consumer insight.
The adage “consumer is the king” holds true in the realms of advertising and media as well.
Rakuten Advertising Reveals Partnership Discovery, its Latest AI Investment
As part of its Affiliate Intelligence Platform and vision, Rakuten Advertising, the top global affiliate marketing network, announced that it will introduce Partnership Discovery, its newest artificial intelligence (AI) investment, at Affiliate Summit West 2024 in Las Vegas. By matching advertisers with the most productive publisher partners, this state-of-the-art artificial intelligence tool has the potential to completely change the industry by increasing audience engagement and revenue like never before.
Using artificial intelligence (AI), Partnership Discovery assists advertisers in finding the best publisher partner for product-specific affiliate campaigns that increase audience engagement and revenue. Presenting advertisers with the qualities of their audience—for which they can produce better results—will also help publishers.
Partnership Discovery powered by AI
AI is being used by Partnership Discovery, a crucial part of Rakuten Advertising’s Affiliate Intelligence platform, to transform affiliate marketing innovation. To maximize audience engagement and generate more revenue streams for product-specific affiliate campaigns, the tool offers cutting-edge features that assist advertisers in finding the best publisher partners.
Rakuten Advertising’s Affiliate Intelligence platform includes Partnership Discovery, a crucial element that uses artificial intelligence (AI) to transform affiliate marketing innovation. To help advertisers find the best publisher partners for product-specific affiliate campaigns and guarantee maximum audience engagement and increased revenue streams, the tool introduces cutting-edge features.
AI for affiliate marketing
As the vanguard of Rakuten Advertising’s Affiliate Intelligence platform, Partnership Discovery reimagines the affiliate marketing landscape by utilizing artificial intelligence’s transformative power. With the help of this cutting-edge tool, advertisers will be able to choose the best publisher partners for affiliate campaigns that are tailored to individual products, which will ultimately result in higher audience engagement and more revenue streams.
What does Partnership Discovery offer?
Partnership Discovery can:
- Accurately tag the advertiser’s product with a category from among the more than 6000 Google Product Taxonomy categories.
- Use the Rakuten Advertising network to sift through hundreds of millions of sales each year to determine which publishers are performing the best in that particular product category.
- Provide advertisers with a range of search terms and categories to choose from to identify the best publisher partners to reach consumers across product and category levels.
Read More: Dailyhunt MENA and SRMG Join Hands for News Transformation
In an increasingly data-rich digital environment, Partnership Discovery is an efficient light. Through a painstaking process of sorting through hundreds of millions of sales per year across the Rakuten Advertising network, the tool finds publishers that routinely provide superior performance in particular product categories. With this fine-grained approach, advertisers can confidently choose publishers whose performance history matches their campaign goals by making data-driven decisions. Here, the focus is not only on reaching a large audience but also on fostering collaboration to produce the greatest outcomes.
Filtering search results
Users will be able to filter search results by the following to further refine Partnership Discovery search results and guarantee an advertiser finds the best publisher partners:
Category Sales Ratio
Find out what proportion of sales for products in a given category are influenced by a publisher that is recommended.
Classification
Use publisher classification (e.g., Silver, Gold, Platinum, etc.) to narrow down results for “top performers” in the Rakuten Advertising publisher network.
Business model
You can filter publishers based on what kind of content and price comparison sites, coupon and cashback publishers, or publishers that best suit the needs of individual advertisers.
Partnerships
To maximize reach, reach new audiences, or reconnect with devoted customers, filter by publisher status to find new publisher partners or re-engage current partners.
Read More: A Lookback At the 5 Best Christmas Ad Campaigns of 2023
AI utilization for Advertisers
Simply put, Partnership Discovery is a strategic ally that helps advertisers navigate the tricky terrain of affiliate marketing rather than just a tool. Through the utilization of artificial intelligence (AI) and unparalleled control and customization, this innovative solution enables advertisers to engage with their target audience more deeply and make meaningful and profitable partnerships with each campaign.
Partnership Discovery Key Benefits
Partnership Discovery, an AI-powered tool from Rakuten Advertising, has the potential to completely change the way that publishers and advertisers interact. This cutting-edge tool has the potential to completely change the affiliate sales landscape by making it easier for advertisers to interact with their target markets and improve their sales tactics.
Data-driven decision making
Partnership Discovery explores the vast amount of data available within the Rakuten Advertising network, going beyond traditional methods. Through painstakingly sorting through hundreds of millions of sales per year, the tool finds publishers who routinely outperform competitors in particular product categories. With the help of data-driven decision-making, advertisers can select publishers who have a track record of fostering productive partnerships and producing successful campaign results.
Here’s what they said
Nick Stamos, CEO of Rakuten Advertising said,
The launch of Partnership Discovery will bring Rakuten Advertising’s vision for Affiliate Intelligence to life. By pairing advanced AI with deep insights into the affiliate landscape, we can cultivate stronger strategic collaborations between advertisers and publishers. Not only will AI help advertisers discover new, high-performing publisher partners, but it can help them re-engage with existing partners in new and innovative ways. We will continue to innovate in service of our Affiliate Intelligence initiative to deliver advertiser and publisher solutions that are performance-driven and anchored in meaningful, innovative partnerships.
Read More: Google Cloud Introduces New Generative AI Tools for Retailers
Reliance Jio and IIT-Bombay Working Together To Launch Bharat GPT
Reliance Jio Infocomm, the largest telecom service provider in India, is working with the Indian Institute of Technology – Bombay (IIT-B). Together, they are developing an artificial intelligence (AI) project called “Bharat GPT,” a large language model tailored to India’s needs. Akash Ambani, the chairman of Reliance Jio Infocomm also indicated the plans to launch an operating system (OS) for televisions.
Introducing AI within Jio sectors
Jio is looking to introduce AI at its enterprise and across sectors within the group. The firm will launch products and services in the media space, commerce, communications, and devices. It is expected that Bharat GPT will be developed as an AI for Jio telecom products, activated by voice command and gestures to minimize human research hours and simplify the experience of using Jio across all platforms. Ambani emphasized the impact of artificial intelligence stating that the next decade will be defined by applications utilizing large language models and generative AI. He highlighted the ongoing efforts to integrate AI not only as a vertical within the organization but also horizontally across all sectors.
Underscoring the importance of a comprehensive development ecosystem for Jio 2.0
Ambani emphasized the importance of building a robust development ecosystem and outlined the company’s commitment to realizing the vision of Jio 2.0. He shared his views about how AI is going to consume everything and that AI stands for artificial intelligence and also stands for all included. The Bharat GPT program, a collaboration with IIT Bombay since 2014, aims to harness generative AI, drawing inspiration from larger language models like ChatGPT. This initiative aligns with Jio’s broader strategy to explore the transformative potential of AI across various industries.
Read More: Epic Games Prevails in the Antitrust Trial Against Google
Plans for Television OS
In addition to the Bharat GPT program, Ambani unveiled Jio’s ambitious venture into television technology. He disclosed that the company has been diligently working on developing its own operating system (OS) for televisions. The company is looking to extend its product offerings beyond telecommunications. Ambani highlighted the comprehensive approach to launching this TV OS.
Future of AI in India
Anticipating the transformative impact of artificial intelligence, Ambani shared the company’s dedication to integrating AI vertically within the organization. Furthermore, he also expressed integrating AI horizontally across all sectors. As part of this commitment, Jio is poised to introduce innovative products and services. It will solidify its position as a technology leader in India. The timeline for the release of Bharat GPT has not been announced yet, but it is expected that the release date will be announced by Jio in the first few months of 2024. Ambani also dropped a hint about the launch of Jio 2.0 without elaborating any further.
Upcoming Plans for AI and 5G
Ambani expressed excitement about the imminent launch of 5G private networks. Jio plans to offer a 5G stack to enterprises of all sizes. Describing India as the “biggest innovation center’ for the next decade, Ambani conveyed confidence in the country reaching a USD 6 trillion economy by the end of the decade. Furthermore, he also encouraged young entrepreneurs not to fear failure. He is positioning Jio as the world’s largest startup. Moreover, he has urged them to contribute to societal well-being while remaining deeply passionate about their work.
Read More: Unlocking the Power of AI in Digital Marketing: A Comprehensive Guide
Unlocking the Power of AI in Digital Marketing: A Comprehensive Guide
Understanding the Basics of AI in Digital Marketing
To kick things off, let’s demystify what AI truly means in the context of digital marketing. Artificial Intelligence refers to the development of computer systems that can perform tasks that typically require human intelligence. In the marketing sphere, AI is leveraged to analyze data, automate processes, and enhance decision-making.AI-Powered Analytics for Informed Decision-Making
One of the key areas where AI excels is in data analysis. Traditional analytics tools pale in comparison to the capabilities of AI algorithms when it comes to processing vast amounts of data swiftly and extracting meaningful insights. By employing AI-powered analytics, marketers can gain a deeper understanding of consumer behavior, preferences, and trends, enabling more informed decision-making.Personalization Redefined with AI
Personalization has become a buzzword in digital marketing, and AI takes it to the next level. By analyzing user behavior and preferences in real-time, AI can deliver hyper-personalized content and recommendations. This not only enhances the user experience but also increases the likelihood of conversion by presenting users with content that resonates with their individual needs and interests.Chatbots and Customer Engagement
AI-driven chatbots have become invaluable assets in enhancing customer engagement. These virtual assistants can handle customer queries, provide information, and even facilitate transactions – all in real time. The result is improved customer satisfaction and a more efficient use of resources, freeing up human agents to focus on more complex tasks.Revolutionizing SEO Practices
Search Engine Optimization (SEO) is a cornerstone of digital marketing, and AI has brought about a paradigm shift in SEO practices. AI algorithms, such as Google’s RankBrain, are now integral to determining search engine rankings. Marketers need to adapt their strategies to align with these algorithms, focusing on creating high-quality, relevant content that genuinely adds value to users.Automating Marketing Campaigns for Efficiency
Automation is another game-changer in the realm of digital marketing. AI-powered tools can automate various marketing tasks, from email campaigns to social media posting schedules. This not only saves time but also allows marketers to focus on strategy and creativity, leaving the repetitive tasks to the machines.Understanding the Role of AI in Programmatic Advertising
Programmatic advertising, fueled by AI, has transformed the way ads are bought and displayed online. AI algorithms analyze user data to make split-second decisions on ad placements, ensuring that the right ad is shown to the right audience at the right time. This level of precision enhances the effectiveness of advertising campaigns and maximizes return on investment.Overcoming Challenges and Ethical Considerations
While the benefits of AI in digital marketing are substantial, it’s crucial to acknowledge and address the challenges and ethical considerations that come with its implementation. Issues such as data privacy, algorithmic bias, and the potential displacement of jobs should be carefully navigated to ensure responsible and sustainable use of AI technologies.Preparing Your Business for the AI Revolution
As AI continues to evolve, businesses must proactively embrace these technological advancements to stay competitive. This involves investing in AI talent, staying informed about the latest developments, and continually reassessing and adapting digital marketing strategies to align with the capabilities of AI.Conclusion: The Future is AI-Driven
In conclusion, unlocking the power of AI in digital marketing is not just a trend; it’s a necessity for businesses aiming to thrive in the digital age. From personalized user experiences to data-driven decision-making, AI has the potential to revolutionize every aspect of the digital marketing landscape. Embracing this technology and understanding how to leverage it effectively will undoubtedly set businesses on the path to success in the ever-evolving world of digital marketing.Read More: The Role of AI in Personalized Advertising
Ali Masthan
Google Search | Display Ads | DV 360 | GAM 360 | Paid Social | Media Planning and Strategy
With over 12 years of experience in media planning, strategy, and content marketing, Ali Masthan is a digital marketing veteran passionate about helping businesses build ethical and sustainable customer relationships. He believes that transparency, respect, and quality content are key to earning trust and achieving long-term success. Follow Ali for insightful tips and strategies to navigate the ever-evolving digital landscape.
X Announces the Launch of its Generative AI Chatbot GrokAI in India
The generative AI chatbot GrokAI, developed by Elon Musk’s xAI, will now be accessible in India in addition to 46 other nations, including Pakistan, Australia, New Zealand, Singapore, Sri Lanka, and more. The announcement comes less than a week after it was made available in the US. GrokAI access will also be limited to X’s premium users in India. Grok faces competition from the likes of Google’s Gemini AI and OpenAI’s popular chatbot ChatGPT.
the following countries can now grok:
– australia
– bahamas
– barbados
– belize
– botswana
– cameroon
– canada
– dominica
– eswatini
– fiji
– gambia
– ghana
– grenada
– guyana
– india
– jamaica
– kenya
– liberia
– malaysia
– malawi
– malta
– mauritius
– namibia
– new zealand
-… https://t.co/P9YatfLF3h— X (@X) December 13, 2023
GrokAI chatbot accessible for Premium+ users
Currently, users of X Premium+, the highest subscription tier offered by X, can access the chatbot. Accordingly, users will have to pay INR 1,300 for a web subscription, INR 2,150 for mobile apps, and INR 13,600 for an annual subscription. In October 2023, X launched the Premium+ tier, which costs $16 per month and gives users ad-free access to both the algorithmic “For You” and chronological “Following” feeds on the platform. Other features include the ability to edit tweets, post longer text or video, and share ad revenue.
Read More: Elon Musk Ventures into The AI Frontier With xAI
GrokAI features
xAI had observed that, in contrast to other chatbots on the market, Grok has access to real-time information because of data from X. Conversely, ChatGPT and Google’s BARD compile data from a range of publicly accessible sources. These include Wikipedia, books, and online content. Additionally, the company mentioned that Grok has a “rebellious streak” and is made to “answer questions with a bit of wit.” Furthermore, according to xAI, Grok will respond to inquiries that popular AI chatbots now reject. Once GrokAI was released in the US, it has already generated a good deal of controversy for its clever answers to questions. Additionally, a lot of people claimed that GrokAI isn’t quite politically neutral like other chatbots.
Large language models powering the chatbot
Grok is built upon Grok-0, xAI’s proprietary large language model (LLM). Grok-0, which is trained with 33 billion parameters, can outperform ChatGPT’s GPT 3.5 language model, according to xAI.
Access to data
When the chatbot was first released, xAI claimed that it could access real-time data from X. Furthermore, the company guaranteed that its knowledge was current and applicable. The launch coincides with Elon Musk continuing to push for diversifying X’s revenue streams. He aims to do so by increasing subscription income and lowering the company’s reliance on advertising. The advertising revenue currently accounts for the majority of revenue but has suffered significantly over the past year.
Read More: Amazon Enters Generative AI Scene With Its Chatbot “Q”
The Role of AI in Personalized Advertising
Photo by Mohamed Nohassi on Unsplash
Brands utilize customer data to target behavior, interests, and more to strategize their advertising efforts effectively. Creativity and customizing advertising efforts to cater to your audience is a tried-and-true method to attract prospects, and personalization helps foster the connections to convert them into loyal customers.
One of the biggest challenges businesses face is combining the creativity and analysis of data to work together. But further advances in digital security are putting a stop to behavioral targeting. Artificial intelligence is making great strides in scaling both strategy and creativity to help expand businesses to reach wider audiences.
Narrowing down on your target customer as much as possible is the best way to predict habits and cater more personally toward them with your advertising. Here’s a look into the role of AI when it comes to personalized advertising.
Why Utilize Artificial Intelligence in Your Business?
There are advantages for your business to begin using AI in marketing. One of AI’s most significant and helpful jobs is processing and analyzing large and complex amounts of data quickly.
Customer Analysis
With data analysis, algorithms can make predictions by identifying customer interests, needs, and behavior patterns. Your advertising can develop a more personalized experience for each client with this information. With personalized messaging and targeted campaigns, social media platforms can display exceptional product recommendations.
Optimization
AI also helps optimize your advertising in real time; the analysis of data allows your marketing teams to make adjustments more immediately, improving their impact. If you can see that the campaign or advertising efforts aren’t working well, your business will see this with AI and be able to fix it quickly.
Automation
Another excellent benefit that AI brings to your marketing is automation. Tools and resources with technological advances provide marketing teams the power to create personalized experiences for their customers, individually and simultaneously. The best part is your teams don’t have to do anything; just set the parameters, and AI can take over, even in areas like push notifications where timely and relevant communication can be automated to enhance customer engagement and retention.
Customer Loyalty
One of the other essential aspects of your business is to establish trust for customers to return and increase retention. With AI, the possibilities are endless to improve efficiency and increase buyer satisfaction, which nurtures that connection and ensures a return. AI continuously improves, ensuring you’ll have even more ways to create individual relationships.
How Artificial Intelligence Works
One of the primary functions that AI can do is its analysis of customer behavior and collecting this information to implement a more personalized experience. AI looks at multiple aspects of the customer experience, including the following:
- Purchase history
- Demographics
- Websites visited
- Search behavior
- Social media activity
AI works to identify patterns and trends in customer activity. It can pull data from various sources, including Google Ads Data Manager, to create a detailed profile of prospective buyers. The demographic information allows your business to pinpoint the desired gender, age, location, and interests to give your business a more targeted experience for those customers.
The predictive ability of AI is also quite remarkable. It looks at prior activity and information to make accurate predictions about what products or services peak interest and if a customer is more likely to buy. It also provides forecasts on the social media channels that are more likely to be utilized.
Your advertising efforts can be more customized to fit your client’s needs based on the patterns and behavior that AI shows. It can help to utilize some outside media services or expert marketing agencies who know the ins and outs of AI for your business. Tailoring your promotions and campaigns to suit customer preferences with convenient tools, including cookieless advertising, can drive sales and profitability in record time.
Examples of Artificial Intelligence in Advertising
Numerous examples of businesses that use AI for more personalized advertising are visible today. Some successful marketing campaigns have proven to improve customer experiences and increase engagement.
Product recommendations on Amazon is an AI algorithm that looks at customer behavior, product search, and purchase history to recommend products more relevant to a customer’s interests effectively and wants. It has resulted in a significant boost in sales to catapult the company as one of the largest e-commerce platforms in the world.
Sephora
Sephora has incorporated AI technology in the form of a “virtual try-on,” where customers can find a more tailored product in makeup products. Based on factors like skin tone, skin problems, or particular types have allowed clients to find a more satisfactory product and have improved the reputation of Sephora as a leading beauty retailer.
Netflix
Even the streaming video and TV show memberships we own implement AI to help you decide on the ever-looming question of “What to watch?” AI algorithms work to analyze viewing habits and make recommendations for what interests its watchers. It has helped to increase engagement and solidified Netflix’s stance as one of the most popular streaming platforms.
The Future of AI in Personalized Advertising
One of the biggest concerns with using AI for your business stems from privacy since it needs massive customer data to function. Prospective clients may be uncomfortable with providing more personal information.
However, the use of AI in marketing continues to grow and advance, so it’s necessary for your business to ensure that you use it responsibly. Be transparent to your customers and provide options for customers to opt out if necessary. Educating them about how you use your AI responsibly and ethically can also be beneficial.
As AI continues to evolve and grow, you can clearly expect to see more sophisticated and tailored advertising campaigns and new integrations that are effective at ad targeting and drawing in an audience. AI can be integrated into other technologies to create a more engaging experience. At the same time, your business can better understand its ideal customer and improve upon advertising and marketing efforts.
Data and creativity can be combined, creating a balance for businesses to identify and assist individual needs while collecting and securing customer data. These connections through a more personalized advertising experience work across an array of industries and can allow your business to develop and implement more effective advertising campaigns that generate a solid impact while building customer loyalty.
Ron Clark
Marketing | Digital | AI | Social Media | PR | Creative Writer
Ron Clark is an MBA graduate with a specialization in marketing, hailing from the vibrant city of New Orleans, Louisiana. With a keen interest in the ever-evolving field of digital marketing, Ron has dedicated his career to becoming an experienced specialist in social media and digital PR. He’s set his sights on AI, marketing, aiming to write articles that distill his expertise into valuable and informative pieces.
SplitMetrics Acquires App Radar for Complete AI-Driven App Growth Services
In a seven-figure all-cash deal, SplitMetrics, an American startup that specializes in app growth solutions, announced that it has acquired App Radar. App Radar is an app marketing and analytics platform based in Austria. Thanks to this strategic partnership, SplitMetrics will be able to provide a broad range of app growth services on an artificial intelligence (AI) powered platform. Through the merger, the two startups come together to provide marketers and app developers with a complete solutions. With this agreement, a largest platform in the industry is created. This platform will offer AI-powered services like data analytics, app store optimization (ASO), paid user acquisition (UA), and conversion rate optimization (CRO).
Separate Brands, One Goal
The companies have announced that they will continue working as distinct brands, catering to more than 1,000 clients throughout Europe, the United Kingdom, North America, and the Asia-Pacific area. This strategy preserves each party’s distinctive advantages while utilizing the group’s combined knowledge. SplitMetrics, which employs 160 people worldwide, currently oversees more than $250 million in yearly advertising spend on behalf of companies including Babbel, Skyscanner, Glovo, and Viber.
Read More: JioAds Launches Picasso.AI, Its Proprietary Advertiser-Focused AI Tool
App Radar serves 30,000 app developers and marketers worldwide, including DEGIRO, ProCamera, Chatterbug, and Cronometer. It is an expert in app store optimization and automation. Every day, it keeps an eye on over 30 million keywords in app stores. App marketers will have access to a single point of contact for all the essential resources they require to expand their apps’ presence in major app stores by combining SplitMetrics UA solutions with App Radar’s ASO platform. Mobile businesses will thus have a single, all-encompassing growth engine. It will do away with the current data silos between ASO and UA.
AI-Driven innovation
The union shows how tech companies are adjusting to and contributing to the changing technological landscapes. It is a testament to the ongoing trend of AI reshaping industries. Its goal is to develop into an AI business offering comprehensive app services. It will help eliminate the distinction between UA, ASO, and CRO. SplitMetrics and App Radar are dedicated to having a significant impact on their customers’ success. Furthermore, it aims to raise the bar for user acquisition and operational effectiveness by utilizing cutting-edge AI technologies and market insights.
Read More: Omnicom Signs Generative AI Licensing Agreement with Getty Images
Meta Announces Five New Lead Generation, AI Powered Tools for FB, IG
Throughout its family of apps, Meta is launching five new lead-generation advertising tools, AI-powered features, and CRM alliances. The goal of the tools is to improve consumer connections and campaign efficiency for marketers by generating high-quality leads on Facebook and Instagram. With its most recent feature rollout, Meta hopes to increase customer engagement, establish a connection with prospective buyers, and boost revenue by allowing users to initiate chats, fill out forms, and receive calls from businesses.
New AI-powered features of Meta
Because they are more likely to convert interest into actual sales, quality leads can save businesses both time and money. Marketers must use tools to optimize lead generation because of the increased conversion rate. By doing so, they can ensure more effective campaigns and maximize return on investment.
Click on Whatsapp Lead Generation
The lead objective feature, which is already present on Instagram Direct and Messenger, will now be available on Facebook and Instagram ads that click to initiate a WhatsApp conversation. In the future, certain advertisers will be able to add a Q&A flow in Ads Manager. Advertisers can now provide users with a coupon in exchange for answering the questions on Instagram Direct. The customer can then use the discounts on their subsequent goods or services.
Instant form ad format
For heightened visibility, Meta is launching an instantaneous advertising format designed to facilitate people’s simultaneous discovery and connection with multiple businesses. For instance, users can quickly share their contact details with other relevant businesses, such as nail salons, after registering for a bridal hair trial. It gives consumers greater convenience and increases the likelihood that potential clients will find small businesses.
Read More: HubSpot Reaches Definitive Agreement to Acquire B2B Data Platform Clearbit
Contacting Facebook leads
Additionally, Meta is testing the capability for companies to make direct phone calls to potential customers via Facebook and Messenger, displaying the company’s name and logo on the incoming call screen so that potential customers can identify the caller.
Video Credit: Search Engine Land
Meta Advantage for Lead Generation
With the use of Meta Advantage machine learning technology, Meta is testing a feature that completely develops lead-generation campaigns for advertisers by automating targeting, creative, placement, and budget. Facebook is also testing automated instant form generation based on brand website content.
HubSpot
Meta has streamlined its CRM integration with Zapier and added HubSpot as its newest CRM partner in order to better serve the leads created by these new features. These kinds of integrations can improve campaign performance and assist companies in converting leads.
Read More: TikTok and HubSpot Partner for CRM Integration to Boost Lead Generation
WPP and Sprinklr Partner to Bring AI-Powered CXM Solutions
WPP, the advertising group, and Sprinklr, a pioneer in enterprise software for enhancing customer experiences, have formed a strategic alliance. Through the use of Sprinklr’s customer experience management platform (Unified-CXM), WPP and Sprinklr will combine cutting-edge AI tools to assist global clients in providing more tailored and consistent customer experiences. WPP will be Sprinklr’s first international agency partner as a result of this partnership. Additionally, the two companies will work together on a new product called CX Live AI, which will link WPP’s AI resources with Sprinklr’s AI+ platform, which consists of both generative AI capabilities and customized AI models from Sprinklr.
Advanced AI tools – A necessity for global clients
Creating seamless and consistent customer experiences across multiple channels can be difficult in today’s world. Enterprise-grade artificial intelligence solutions are crucial for global clients because they enable brands to more effectively reach, interact, and comprehend consumers on a large scale. The Sprinklr platform, a market leader in the Unified CXM space and partner to over 1400 brands, including many of WPP’s biggest clients, offers in-depth analysis of data for insights and analytics.
Read More: WPP and Spotify Form A Unique Revolutionary Partnership
How will the partnership work?
WPP teams will benefit from this unique joint offering to create optimized content that connects with the right audiences. The businesses will collaborate on shared analytics, data, and solution development for joint clientele. Sprinklr will provide priority support, including customized enablement programs and early access to new Sprinklr products and platform features, to WPP teams. Additionally, WPP will take part in Sprinklr’s Partner Advisory Board to influence the company’s product roadmap. Both businesses are already working together on projects for a few select clients, like The Coca-Cola Company, where teams use AI insights about customer engagement to guide channel selection and creative development.
Here’s what they said
Stephan Pretorius, CTO of WPP, said
Through the seamless integration of WPP’s AI toolset with Sprinklr’s AI+ platform, we are reshaping how brands can connect with their audiences. This partnership enhances our existing AI capabilities and enables our clients to create customer experiences across all touchpoints, further solidifying our position as a leader amidst the technology revolution that is transforming our industry.
Ragy Thomas, CEO and Founder of Sprinklr added,
Sprinklr and WPP serve many of the world’s most iconic brands. Together, this partnership will enable customers to effectively deploy AI that will result in measurable productivity, cost savings, and the seamless experiences customers have come to expect today. Integrating Sprinklr’s AI-powered Unified-CXM platform with WPP’s AI toolset will help our shared customers quickly adopt the latest AI technologies while ensuring the enterprise-grade privacy, security, and governance that Sprinklr and WPP have built our businesses on.
Read More: WPP and Optimizely Team Up for Data-Driven Digital Experiences
Microsoft Advertising and Media.Monks Unlock New Opportunities in China
Microsoft Advertising and Media.Monks have bolstered their positions in China to support marketing, advertising, and advanced services in two different announcements. Artificial intelligence is used to support services in the majority of cases.
Microsoft Advertising ventures into the Chinese market
Microsoft Advertising and InMobi have declared their intention to extend their partnership into the Chinese mainland. With Microsoft Advertising’s native display and search capabilities, Chinese marketers can now leverage an integrated solution to improve their campaigns. Its enterprise and strategic sales, account management, marketing, finance, collection, and billing for customers in China will all benefit from the partnership.
This will expand upon Microsoft and InMobi’s already fruitful partnership, which was established in July 2018. Since then, it has grown to encompass Microsoft Advertising’s solutions in almost 75 nations and regions, including Africa, the Middle East, India, Southeast Asia, and now Mainland China. The biggest search and tech company in China, Baidu, competes with Microsoft Advertising in the area. Baidu incorporates AI into all of its platforms and tools for cloud services and advertising.
Here’s what they said
Charlie Liang, GM of InMobi China, and SVP of InMobi Group said,
This extended collaboration between Microsoft Advertising and InMobi in China will bring the best value across both organisations to marketers in the region, given China’s highly competitive marketers environment. InMobi China is well positioned to bring the best experience to advertisers with a deep understanding of China’s search and display ad markets, a customer-oriented product and business operation team, and Microsoft Advertising’s cutting-edge solutions.
Read More: Chinese AI Firm Baidu Debuts ERNIE 4.0 Chatbot Competing with GPT-4
Media.Monks partner with Baidu to strengthen its presence in China
S4 Capital plc’s operating brand, Media.Monks China announced a partnership with Baidu to support international brands hoping to succeed in the Chinese market. Media.Monks, as a premium partner, is in a unique position to enable brands to leverage Baidu’s demand in China, which goes beyond Search and Programmatic Display to include a range of products, including Baidu’s AI-driven Ad-tech products.
The Data and Digital Media team (DDM.monks) emerges as a reliable partner for both inbound and outbound clients across diverse industries in the ever-changing landscape of China’s digital market. DDM offers a wide range of services, with a focus on programmatic display, data solutions, paid search, paid social, managed media, and brand marketing. DDM assists clients in navigating the challenging world of digital marketing in China and around the world, producing significant outcomes and promoting long-term growth, from carrying out media strategy to attaining data-driven efficiency.
With this new partnership, Media.Monks China can now offer a wider range of products to brands on the market. To enhance their influence in this dynamic and quickly changing market, Media.Monks and Baidu plan to collaborate closely in related fields in the future. They will also provide superior services to a wide range of customers.
Here’s what they said
Emily Yaoli, Data and Digital Media China team lead at Media.Monks remarked,
We will help brands with an integrated marketing strategy targeting mass audiences in China, by leveraging Baidu’s profound AI-driven solutions.
Read more: Baidu unveils ERNIE, the AI-powered chatbot to ChatGPT