What is the future of Digital Marketing and AI?

What is the future of Digital Marketing and AI?

What is the future of Digital Marketing and AI?

Marketers, it’s time to panic. Just kidding…or am I? The digital marketing landscape is changing faster than we can keep up, and what worked yesterday may not work tomorrow. So where is digital marketing headed in the future? And more importantly, how do we prepare for it? Continue reading to find out!

How will AI Change Digital Marketing? 

The rise of artificial intelligence (AI) is one of the most talked-about topics in business today. It’s been called a “game-changer,” and for good reason: it has the potential to transform every industry on earth.   Paul Roetzer, CEO of the Marketing AI Institute recently wrote: 

“There will be three types of businesses in every industry: AI Native, AI Emergent, and Obsolete.”

And this includes all of us who call ourselves marketers. Mmm hmm, it’s here to stay.

But what exactly does this mean? And how can we leverage this technology to make our digital marketing more efficient and effective?

In this post, I want to take you through some of the ways AI is already changing the way we do things and where it could go from here.

How is AI Changing Digital Marketing Today?

Let’s start with the basics. What is AI?

Artificial Intelligence is simply a computer program designed to mimic human thought processes. It’s human-like, but it doesn’t show up to work hungover on Friday morning. These programs can learn and adapt over time, allowing them to solve problems or complete tasks better than humans alone. And they accumulate PTO, so they are working 352 24/7.

Artificial Intelligence is the ability of machines to perform tasks usually associated with human thought processes. This includes everything from speech recognition to image recognition to machine learning. And these capabilities are getting smarter by the day (literally).

As an example, let’s look at speech recognition. Siri and Alexa are using AI to help them determine what you are asking and provide the best responses. They draw artificial intelligence and machine learning based on huge datasets and choose the best answer. You may have noticed that your voice assistants have improved over time. They have learned the correct responses based on feedback from you and millions (billions?) of other people and responses to similar inquiries in the past.

Ok. But Here’s the question all marketers are thinking: Will AI Replace Human  Marketers?

Nope.

Marketing involves appealing to logic and emotion. And, while AI can help you to understand your customer. It hasn’t evolved to understand the feelings of your customer.  Although AI programs embedded in programs like Grammarly can advise you on the tone of your writing, human marketers need to determine the emotions necessary in copywriting and other communications. 

Another essential skill in marketing, storytelling, is still part of the bailiwick of human marketers. Although some AI tools have rudimentary storytelling capability today, tales of woe and triumph are best reserved for human marketers. But be prepared; as AI capabilities evolve, the role of the human marketer will also evolve.  Marketing is not the only discipline evolving due to advances in AI. You’re not alone.

What Can AI Do Already?

A lot! 

Here are some of the functions that are already the purview of AI in Marketing

  • Automating routine and repetitive tasks and processes

    • Content curation – No more searching for articles to share!
    • Pay-per-click ad management – You may be kissing your Google Ads expert goodbye soon.
    • Automate some email replies – Who wants less email?
    • Chatbots – personally, not my fave.
  • Compilation and analysis of large data sets to

    • Identify patterns – How many marketers do you know that love statistical analysis?
    • Create predictions – Tell me 8 Ball – What does the future hold?
    • Improve customer experience by providing insights into your customers and tailoring experiences based on their preferences. – How did Amazon know I was out of TP?
    • Forecast future customer behavior – Sometimes before they know it themselves!
  • Develop Content

    • AI Content Generation can write blogs, ads, titles, outlines and SEO copy
    • AI SEO programs suggest keywords, topics, and content. They also develop writer briefs.
    • AI Video and other AI creative can create captions, suggest images, create video or using AI Generated Actors based on actual humans.

What do writers think about AI Writer technology?  See and read what they have to say here: Writers on AI Content Writing.

The Benefits of Using AI in Digital Marketing

The benefits of using AI in digital marketing are numerous. It is a great way to improve the user experience and increase conversions. Here are a few reasons you need to jump on board with AI and quick:

Improve User Experience with AI

One of the most important reasons people love using AI is because it improves their user’s experience. The more intuitive an interface is, the easier it is for users to navigate through it. This makes them feel comfortable with the product or service they may be using.

Increase Conversions with AI

When you have a good user experience, you also get better conversions. You can create a seamless flow between the two by ensuring no friction when customers interact with your products or services.

Reduce Human Error with AI

When humans make mistakes, they tend to do so repeatedly. With AI, however, you don’t need to worry about human error as much. You don’t have to give AI a verbal warning for messing up too many times!

Create Better Customer Experiences with AI interactive websites

You can tell whether visitors are interested in something on your website and then show them relevant content.

Automate Marketing Processes

Marketing automation is one of the most significant advantages of AI. When you automate processes, you save time and money. Time and money are about all we have. Who doesn’t need their own personal minion to automate their tasks?

You can start small with basic tasks like email campaigns and eventually expand into more extensive content creation and customer support projects.

The time saved can be redirected to higher-level marketing activities such as creative thinking and planning.  To make more time and more money and then, well, I think you get the point.

The Challenges of Using AI in Digital Marketing

First, don’t be afraid. AI’s your friend. It’s a fantastic technology that has been around for decades but this technology is different. Instead of always being behind the technology learning curve, AI is going to let you catch up!  AI is already here; there is no turning back the clock. It’s wise to invest time learning as much as you can about the tools and how AI might help you do more and be more effective. Knowledge is power. 

Second, AI’s not all that. Make sure that you understand the limitations of AI. There are many different types of AI, each with its strengths and weaknesses. For instance, bias (gender, racial, ageism, you name it)  can creep into AI.  Know how to spot it and keep it from invading your marketing. And AI won’t allow you to sit back on your laurels and just push buttons. AI is not going to do your work for you. Like your loyal labradoodle, you need to train it how to sit and fetch and get you a beer (wine) out of the fridge. And once you have it trained and understand how to best work with it, you will get the best results. It will take some trial and error, but in the end, you will come to love your big fluffy AI. 

AI can help you identify potential customers, but it won’t choose a content strategy for you. You are still 100% in control of your strategy, goals, and tactics. You are the great and powerful Oz!  And, AI is your trusted assistant. It will provide you with input and possible ideas on strategy and tactics, but it will not do it all for you.

Measurement is critical.  If you can’t measure it, then how do you know if it’s actually helping? Determine upfront how to measure the impact of your AI-powered campaigns. Never choose an AI technology and then force-fit it into your process. This is Bass Ackwards!  First, determine the best areas where automation and AI could potentially improve your results, and then go out and look for AI solutions.

What Does the Future Hold for AI and Digital Marketing?

Who knows? But here’s what I think…

We are just on the cusp of all of the possibilities for AI and Marketing. The future is limitless. Monotonous, repetitive tasks will disappear. Your AI technology will help you determine the best ways to attract and retain customers and improve your brand. 

Those companies that fully embrace AI now will have a distinct competitive advantage over those that do not. 

Writers and creatives that use AI technologies such as AI Writer tools and new AI art/media platforms coming from DALL-E , AI-powered art, and other technologies make you better and faster and get you greater success. 

Marketing executives like CMOs and Marketing Technologists will have dashboards powered by AI that will allow them to make adjustments to plans and strategies in an agile manner that can be expediently implemented throughout the organization to lead by data and predictive technologies. Leaders will lead with data and can share the all-important answer to the question, Why?

Marketers will reach new levels of sophistication and responsiveness to customer demand by receiving real-time data using analysis of large data sets to help determine the best possible strategies for effective marketing campaigns. And marketers will have the ability to adjust those campaigns in real-time to optimize success.

So marketers, is it time to panic? Never! You’ve got this. The future is now. And the future of Digital Marketing is AI.

What do writers think about AI Writer technology? See and read what they have to say here: Writers on AI Content Writing.

References:

https://marketinginsidergroup.com/content-marketing/the-future-of-digital-marketing-predictions-trends/ 

https://rockcontent.com/blog/will-ai-replace-digital-marketers/

Image by PublicDomainPictures from Pixabay

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)

From Typewriters to AI Content Generators – The AIContentGen Market Survey

From Typewriters to AI Content Generators – The AIContentGen Market Survey

From Typewriters to AI Content Generators – The AIContentGen Market Survey

In 1979 I left for my Freshman year in college at the University of Massachusetts, Amherst.  I jumped into my Chevy Chevette packed to the hilt that included a high school graduation gift from my parents, a portable, manual Smith-Corona typewriter.  Little did I know that my popular typewriter came from a highly concentrated industry that a decade prior was dominated by only five companies accounting for 79.7% of the market, spurring action by the FTC.1

Now we’re looking to identify a similar but 2020’s market size and share, albeit at a different maturity curve.  AIContentGen is working on a market size survey for the AI content generation industry. We are using various approaches to gather information and estimate the market’s current size for AI content generation software. 

The survey will be sent to AI companies to ask a series of questions about their sales of AI content software and information about growth rates. As a result, AIContentGen will develop research on: 

  1. The size of the market
  2. Growth rates

The objective is to estimate the potential market for AI content creation and the percentage of customers willing to adopt AI content software. If you had a market of 1000 customers, 20% of customers are willing to buy and use AI software, the market size would be 200 customers. 

Another way to estimate the market potential is to conduct surveys with customers and determine the percentage of customers in a market using the product and the number of customers considering jumping in. 

In addition to estimating the potential size, we can also conduct a survey of AI companies and ask how many subscribers they have using the software. 

Some AI companies might be concerned about not participating in such a survey. Here are some reasons why it’s important to give some numbers on the market’s potential size, the current size of the market, and the growth rates. 

  • Start-up AI companies are looking for venture or angel investment; if the market can demonstrate a potential business in the industry, it will make it easier to raise additional investments. 
  • Customers waiting on the sidelines will be more willing to jump in and start using AI content generation tools if they get a sense of the current scope of the market. 
  • Sizing the market by industry or type of content will help you focus marketing efforts or avoid working in a market that you think has sufficient customers but doesn’t. 
  • By understanding the market scale, AI companies can estimate their profits and what resources will be available to generate revenue based on potential profits. Further, suppose there are more players in segments of the market. In that case, a market size report can be used to understand the potential profit that could be made based on the market size for an industry or type of content and the number of competitors in the market. 

Quotes from investors: Why a market size view is important

Ray Chang  – Founder, Advisor, and Investor

“Knowing and understanding the market size helps investors understand what the available profit could be.  Some investors may be less risk-averse and would rather play in a small market than a bigger market.  Or, from a strategic point of view, a smaller market would be better for one application of a product to test it out.  If it’s successful, perhaps they could expand to other markets with changes such as language or color, etc.”

 

Lauren Nham – Product + Ventures + Investor – NewChic Capital, MetaCap Ventures & GovingVC Partners

In short, attractive underserved markets. Market opportunity & market timing.”

“What’s the current state, and where will it go? Where does it cross over and connect across industries and functions and geopolitical regions? For example, consumer behavior and needs evolve, and how well the market serves (or underserves) target market segments constantly fluxes. Too large and the market is only suitable for late-stage, too early, and the mainstream PMF (Product Market Fit) may exist beyond target return windows.

A true understanding of the market would identify interlocks across different sectors and tranches of the value chain. The ability to see the market in a truly multi-dimensional view is where the opportunity lies.”

Examples of  Market Size Studies Impacting New Industries

Word of Mouth, MarTech & ABM

The Word of Mouth Marketing Association was founded in 2004. The association was a trade group set up to promote Word of Mouth Marketing, which was the term used in the industry before the adoption of social media. WOMMA had companies as members, and the trade group held industry meetings, conducted important research on the value of word of mouth marketing to companies, and generally promoted the industry. Without WOMMA and its work, social media would not have been adopted as quickly as a strategy by as many companies as it was in the United States; the trade group helped demonstrate the market potential and size. The Association of National Advertisers acquired WOMMA in 2018.

MarTech

Scott Brinker’s now famous Marketing Technology Landscape Map infographic showing the extent of the Marketing Technology industry helped popularize the growing importance of Marketing Technology amongst marketers. The series of yearly infographics illustrate the growth of the industry and its weight in the industry. Without the infographic, customers will not be as aware of the different marketing technology categories or that their peers and competitors are using so many kinds of marketing technology. The landscape Map helped set the industry’s understanding of the importance of the industry and fueled lots of interest from customers in what technology to pick. 

Martech Landscape 2020

 

Jon Miller’s ABM Market Map

Co-founder of Marketo, Jon Miller, helped explain the benefits of Account-Based marketing with his simple ABM Market Map; again, he helped scope out the different categories of marketing technology that make up the strategy of ABM. Marketers used the map to follow the strategy of ABM and select vendors for marketing technology. 

The AIContentGen Market Survey

Will our Market Survey show a highly concentrated market for AI Writers? Not likely. But this first market survey will put a stake in the ground and we hope that it will benefit all stakeholders in the market. 

Do you work at an AI Content Generation company and would like to get a hold of an AI Content Generation Market Size Report?  The first step is to contact AIContentGen to answer our Market Size Survey. 

Footnote:

1 “In 1968 the year prior to the acquisition in question the two top ranking firms IBM and Royal accounted for about 50.3 percent and the four leading firms IBM Royal SCM and Olivetti Underwood for about 79.7 percent.

FEDERAL TRADE COMMISSION DECISIONS V FINDINGS OPINIONS AND ORDERS JANUARY 1 1973 TO JUNE 30 1973 PUBLISHED BY THE COMMISSION VOLUME 82 UNITED ALTRADE 2903 S OFAMER Compiled by Rules and Publications Section of the Office of the Secretary US GOVERNMENT PRINTING OFFICE WASHINGTON 1973 sale by the Superintendent of Documents US Government Printing Washington DC 20402 Price 14.95 STOCK NUMBER 1800 00159 p. 1009.

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)

Casting A Marketing Net Into the AI Water

Casting A Marketing Net Into the AI Water

Casting A Marketing Net Into the AI Water

We at AIContentGen are shameless AI fans. We plan to cover many aspects of AI for marketing. In Forbes, Rob Toews, a partner at Radical Ventures, “A Wave Of Billion-Dollar Language AI Startups Is Coming.” explores the AI platform companies building natural language (NLG) software embedded in software applications. This article also showcases various industries that use this NLG software.

  • Horizontal Technology Providers
  • Search
  • Writing Assistants
  • Language Translation
  • Sales Intelligence
  • Chatbot Tools and Infrastructure
  • Internal Employee Engagement
  • Conversational Voice Assistants
  • Contact Centers
  • Content Moderation
  • Healthcare

Rob does a great job covering the industry with this overview article, especially the initial discussion around the language model or foundation model companies. That helps folks understand why the market has rapidly increased, as start-ups are supported by each horizontal technology company’s platform language. 

As we analyzed and researched the AI Writing Market to develop our  AIContentGen Pricing Infographic, we asked ourselves, 

“Should customers consider the NLG  models used by AI Writing software when choosing which software to use for their company? 

 “Does the underlying NLG software impact the price of the subscriptions?” 

 “If an AI content generation company offers free subscription models, x price for starting subscription and x price for the highest subscription price, is the AI company using the same model to power each subscription?” 

We will be working to understand the answers to these questions to help AI content generation consumers make informed decisions when picking an AI Writer software application. 

We were interested in the Writing Assistant section. A company mentioned, LitLingo, provides an AI review of written communications checking on bias and compliance issues. Although the tool doesn’t offer AI content generation, it’s a potentially useful application. Check out Rob’s article, and put it into your magazine article library. 

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)

What Does a Marketing Technology (Martech) Analyst Firm Do?

What Does a Marketing Technology (Martech) Analyst Firm Do?

What Does a Marketing Technology (Martech) Analyst Firm Do?

Marketing Technology Analysts specialize in market analysis and provide advisory services to their clients. Analysts provide market research by analyzing trends, features, and technology. 

  • Martech Analyst firms provide critical information about industry trends and vendor performance.
  • Analysts can help you make better decisions because they know about technology trends.
  • Martech Analysts do Market Research. Market Research is the process of discovering the needs and wants of a specific group of people. Companies use market research to determine whether there is a demand for a particular product or service.

How Do Analysts Conduct Market Research?

Researching the market involves conducting direct research with potential customers to determine whether they would be interested in using a new service or product. Market research helps companies discover their target market and get feedback from customers about their products or services.

Analysts will do research using surveys, product testing, or focus groups to gather feedback from potential clients. Researching the market for a new product or service is an essential part of R&D. 

Use Market Research to Find Customers.

Market research blends consumer behavior and economic trends to confirm and improve your business idea.

It’s crucial to understand your consumer base from the outset. Market research lets you reduce risks even while your business is still just a gleam in your eye.

Analyst firms can help you to answer the following questions to get a good sense of your market:

  • Demand: Is there a desire for your product or service?
  • Market size: How many people would be interested in your offering?
  • Economic indicators: What are the income range and employment rate?
  • Location: Where do your customers live, and where can your business reach?
  • Market saturation: How many similar options are already available to consumers?
  • Pricing: What do potential customers pay for these alternatives?

Analysts Conduct Competitive Analysis to Find a Market Advantage.

Competitive analysis helps you learn from businesses competing for your potential customers. Defining a competitive edge creates sustainable revenue.

Competitive analysis identifies your competition by product line or service and market segment. Some of the following elements define the competitive landscape:

  • Market share
  • Strengths and weaknesses
  • Your window of opportunity to enter the market
  • The importance of your target market to your competitors
  • Any barriers that may hinder you as you enter the market
  • Indirect or secondary competitors who may impact your success

What Are the Benefits of Working with an Analyst Firm?

Getting to know analysts who are experts in their field is a good way for your company to understand what is happening in the market and how major technology vendors are doing in that market. Analysts can often be helpful when it comes to vendor choice. Analysts also understand technology trends and know which technologies enterprises need to be aware of. Analysts can play a significant role in helping companies leverage technology.

How Do I Choose an Analyst Firm?

Whether you need regular advice, cutting-edge research, whitepapers, or well-rounded coverage areas, you’ll want to evaluate your enterprise’s needs when choosing an analyst firm.

AIContentGen is a Different Kind of Analyst Firm.

AIContentGen focuses on Artificial Intelligence Software for Content Marketing

Do you want advice from analysts who just study the market or marketing practitioners who use AI Content Generation Tools themselves?

AIContentGen’s senior analysts are longtime marketing practitioners currently running their own companies.  With expertise in Strategy, Content Marketing, SEO, Public Relations, Agile Marketing, Blogging, and more.  They live and breathe marketing. They know how technology can positively impact your business.

Our analysts understand the importance of theory and strategy and know that strategy execution is critical for success.

If you’re curious about how we can help, then reach out and introduce yourself to AIContentGen.

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)

AIContentGen Just Launched the 2022 AI Content Generation Pricing & Costs Infographic!

AIContentGen Just Launched the 2022 AI Content Generation Pricing & Costs Infographic!

Over 60 AI Writer Tools Included – View Full Size AI Writer Prices Infographic

AIContentGen’s analysis revealed that many AI content generation companies were following a similar pattern for pricing; The infographic shows:

Four categories for pricing based on starting price

The price tiers:

  1. Less than $20
  2. $20 to $100
  3. Above $100
  4. Ask for pricing

Freemium is a well-known technique for converting customers; many AI content generation software companies offer free solutions, trial versions, and two other major pricing options where different levels of service are provided. 

Check out the AI content generation pricing infographic and tell us what you think. If we are missing any companies or if the info isn’t up to date, let us know at info@aicontentgen.com

When choosing which AI content generation software to purchase, a corporate team might use the free or trial version of the software to test out the tool. Beware when assessing trial software. Some software companies may use a less powerful language model in their free or trial product.

Overall, the pricing for AI content generation tools is low compared to other marketing technologies, but it is an extra cost. For any company considering this investment, the ROI comes from helping writers research and brief content, improving content results, and speeding up the process of content production. To determine what topics and content needs to include saves resources, and lastly, AI content generation itself will speed the time to produce content. AI content generation software can bring up to a 10x ROI when considering the cost. Although we still need an experienced writer to fact-check, review, and edit any ai content in all things. 

Need Help to Determine the Best AI Tool for Your Work?

Get the AIContentGen Scorecard with insights on 20 AI writing tools, including the scorecard, which ranks each of the 20 tools by various factors.  

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)

AI Coding Engine & Content Generators: Comparing how the two uses of AI are very similar: Humans Needed!

AI Coding Engine & Content Generators: Comparing how the two uses of AI are very similar: Humans Needed!

AI Coding Engine & Content Generators: Comparing how the two uses of AI are very similar: Humans Needed!

A recent announcement about artificial intelligence (AI) code writing software resonated deeply because it parallels questions regarding AI content writing software. DeepMind Announced AlphaCode, an AI engine for writing computer programs, achieved “an estimated rank within the top 54% of participants in programming competitions by solving new problems that require a combination of critical thinking, logic, algorithms, coding, and natural language understanding.” DeepMind created a series of tests to determine how successfully their AlphaEngine was developing code. 

 DeepMind Technologies is a UK-based subsidiary of Alphabet, purchased by Google in 2014. There are more ai coding engines; another example is Codex from OpenAI. 

 The AI content writing market is not the same as the AI coding software market. Yet, AIContentGen has researched AI content generation tools, which use NLP (Naural Language Processing) for text creation, and seen over 70 of them in the marketplace, and we’ve reviewed over 20 tools. Each of the AI tools examined required human intervention. 

 Examples where artificial intelligence (AI) generated content requires human intervention include:

  • Homonyms – Where one topic has multiple meanings, the AI content generator produces content for the two different meanings.  
  • Repetitions – Language models make “silly mistakes,” repeating the same concept multiple times. 
  • Conclusions – When the nuance of the meaning was different from what was conceived, or factual errors were generated. 

AlphaCode develops thousands of code samples then tests that code to see which code is working. For comparison, several AI content writers provide alternative results; a writer can choose the version they prefer. Other AI writers measure the results of each ranking them, a higher score indicates better results. Again, the writer chooses their desired content from the ranked choices. 

An AI coding engine may produce workable code, but the decision as to what functions the code performs requires human decision-making. A significant benefit of many AI content writers’ ability to provide research and writing tools is their ability to help speed up determining what needs to be written. However, the starting point for any content creation project is deciding on the purpose of the content and creating a piece that has the most relevant information and topics that the content needs to be most useful. Writers begin the process of writing. The same potential exists for AI coding engines for programming. Like AI writing software, AI coding engines can support programmers by making them more efficient, making it easier to develop a structure for their applications, and speed the coding process.  

Programmers are still at the helm, as writers are with AI content writers. AI coding engines speed the coding process and bring aid and support to programmers. It means even more job security for writers because they will have access to the expertise needed to use and get the most out of artificial intelligence (AI) writing tools for the next few years. To learn more about how to deploy and get the most out of AI content writers, download the AIContentGen Scorecard. And check out the free sample of the report. 

See the AI Content Generation ScoreCard and Analysis

Cover Page AI Contnent Generation Scorecard

Take Me to the report!  (Click)