By Neel Pandya, CEO, APAC, Pyxis One
Of what use is a real estate ad to a college student? Or a fresh meat ad to a vegetarian? Random or mass blast ad targeting when compared to systematic behavioral targeting more often than not crushes 76 per cent of the marketers’ efforts to increase sales. This is primarily because of the outdated audience identification practices.
The success rate of any campaign is based on accurate audience targeting, clutter-breaking communication (and no, this does not mean the content has to go viral to be clutter-breaking), and most-used channels. A data-backed approach to accurate user profiling, campaign optimisation and overall business growth is required, unquestionably. Hence, targeting the right segment, the right way is crucial. AI-powered audience intelligence comes at a pivotal time as we journey forth into a world that is more aware and concerned about information safety as is being illustrated through rapid iOS app tracking transparency updates, progression into a cookieless world, hesitance to share data, etc.
An AI-led targeting approach has the potential to dramatically upgrade the audience targeting process and bridge any gaps that the loss of cookies may onset. AI-powered audience intelligence systems are trained on incredible amounts of information compiled from historical data, keyword usage, brand guidelines and profiles, first-party user data, and much more. This allows for the generation of thousands of audience cohorts for every brand. The clinching advantage here is that the cohorts generated are based not just off of demographic details but also on extremely data-backed psychographic details as well. This means, the cohorts generated and the actions performed on each cohort becomes the specific brand’s unique IP.
The AI systems further strengthen itself by continuously analysing funnel metrics and cohort-level activity to break down the impact of the campaign on each targeting combination. Thus, enabling the AI to iterate and enhance audience targeting instantly and constantly and in real-time. This process can also remove any human biases or preconceptions that may incur while targeting manually, purely data-based decisions are made.
AI can monitor campaigns 24/7, take prompt actions in real-time and constantly provide feedback.Thus, the process of data analysis and campaign optimisation takes place continuously, accelerating the pace at which the business runs generally.
As the world is swiftly advancing towards a cookieless web experience, AI acts as a catalyst to drive optimum campaign results. As mentioned above, AI systems come with complex neural networks that are fed and schooled with billions of data points. This data forms the basis for the AI models to quickly learn audience behavior, actions, preferences and predict outcomes in real-time.
The golden feather in the hat is, AI provides deep insights into the ever evolving customer base without using cookies i.e. through pico-segmentation, audience cohorting as well as with efficient utilisation of first-party data. It cements the potholes that encircle consumer safety about data collection and usage.
Today as technology advances, AI is bound to break free from all the myths that hinder its adoption in the market, the major one being, “to deploy AI we need to employ coders, data scientists or AI experts”. The modern world AI infrastructure, comes with no code enablement wherein anyone across the business verticals can integrate and implement AI. This helps marketers and practitioners to work with AI peacefully thus busting the myths.
Businesses today can harness the prowess of AI to understand their audiences more deeply. Or even, be aware of the knowledge parameters that were not even a part of their key considerations.