Artificial Intelligence and Marketing
AI in Marketing Blog
Learn how digital marketers are adopting
artificial intelligence in 2020
Over the past decade, Digital Marketers have learned that sustainable ROI requires bulletproof tracking, consistent and frequent experiments and creative optimizations across the entire buyer journey.
However, more ‘arms and legs’ to scale digital marketing agencies and in-house marketing teams is no longer a sustainable strategy. Digital Marketing Agencies and in-house marketing teams face stiff competition to attract and retain digital marketing talent. LinkedIn data confirms: creativity and analytic reasoning are the most in-demand soft and hard skills in 2020. And forget about hiring Data Scientists in a cost-effective manner – LinkedIn just crowned Data Scientist as the most promising job in the US.
While the intersection of Artificial Intelligence and marketing is still in its infancy, a clear demand for AI is starting to emerge. In a recent Morphio research study, Agency Confessions over 300 digital marketing leaders highlighted their top three uses for AI in 2020 as:
- Gaining a deeper understanding of customer segments (46%)
- Optimization of budgets and campaigns (44%)
- Automating manual data aggregation and analysis (42%)
Why Do Digital Marketing Agencies Need Predictive Analytics?
First we should answer the more basic question – what is predictive analytics? But let’s also agree that artificial intelligence should definitely feature in some shape or form in the modern digital agency tech stack.
Predictive analytics for digital marketing agencies includes a variety of data mining, machine learning, predictive modelling and forecasting to analyze advertising and marketing data to monitor and make predictions about future marketing performance.
In 2020, most advanced digital marketers are no longer asking what is predictive analytics? Instead, early AI and marketing adopters are experimenting with new software, algorithms and team processes to benchmark and measure the current and potential value of predictive analytics that are integrated and balanced with human-centric creative processes.
Morphio’s Predictive Monitoring Tools and Forecasting Software includes Anomaly Detection for a wide spectrum of digital marketing key performance indicators (KPIs) and forecasting to optimize media budget across Google, Facebook, Instagram, Microsoft and LinkedIn ad platforms.
Morphio helps marketing humans better understand and act on data including answering the question: How should I split my advertising budget across Google, Facebook and LinkedIn to get the best return-on-ad-spend (ROAS)?
What is Anomaly Detection for Digital Marketing Agencies?
Again, let’s first answer the basic question – what is anomaly detection? Anomalies, or outliers as some people call them are spikes or dips in activity (they can be good or bad) that occur outside of normal or expected behaviour.
Anomaly detection has been successfully used by banks, credit card companies and other financial institutions to help detect fraud for many years.
Morphio’s anomaly detection for digital marketing agencies runs on integration with analytics and advertising platforms. Morphio alerts digital marketers to events as they are happening without the need of logging in and out of ad platforms and and Google Analytics.
Morphio’s Anomaly Detection includes:
- Marketing Anomalies for KPIs including conversions, conversion rate, sessions, click-through-rate (CTR), bounce rate and others
- Audience Anomalies to identify high performing and low performing target audience segments
- Website Anomalies including organic search rankings and competitor SERP performance and competitor SEO strategies
- Financial Anomalies including media spend, cost per lead, cost per acquisition and others