Machine learning is mandatory for any business interested in scaling in revenue and size. In fact, 57% of businesses in 2020 will rely on AI prediction to make effective business decisions. That means they will work less and improve performance. How cool is that?
Machine learning can be an intimidating subject for a lot of agencies, though. One of the first thoughts about AI is that it’s complex and expensive, but that’s not always the case.
Many machine learning platforms and software will take care of all of the hard work for you. That means you make better business decisions with less effort.
Follow along as we cover six of the main ways your agency can begin scaling to new heights thanks to machine learning.
What is machine learning, anyways?
Machine learning is a branch of AI that focuses on analyzing data to find patterns, opportunities, and problems before a human can.
When an opportunity arises, you can strike it with precision.
These types of software get smarter over time, using historic data and new input to constantly refine results. That means the more you use it, the better results you’ll get!
The process looks something like this:
Your data is sent into the machine learning software that finds opportunities and problems to capitalize on.
This information is sent back along the chain of command to improve future findings and optimizations. The more you machine learning software, the more advanced the discoveries and results become.
Next, let’s touch on exactly how it will help scale your agency.
How machine learning can help scale your business
There’s no end to the ways you can apply machine learning to your agency for growth. From marketing to advertising and accounting, every area of your business could be scaled infinitely.
The following are some of the leading ways you can scale your business with machine learning.
1. It improves your PPC campaigns
Do you run PPC campaigns? Of course, you do. It’s easily one of the fastest ways to generate leads for any agency. No matter how sharp you think your campaigns are, they could be better.
How? Through the use of machine learning to find the best creatives, audiences, devices, and more.
Firstly, understand that 4 in 5 consumers want to see ads tailored to them. Not generic ads that make them feel like another number in your campaign.
This data implies that personalized ads are becoming the norm very quickly. It makes sense, too. Wouldn’t you want to feel special and welcomed by a business advertising to you?
While PPC platforms will give you insight into your campaigns, machine learning takes it a step further to find more opportunities and trends you otherwise wouldn’t.
Think keywords, creatives, and audiences. You can split-test these yourself and spend hours sorting through analytics, or you can let AI take the weight off your shoulders.
Take the e-commerce company Trendyol as an example. They were competing against giants like Adidas and ASOS in a David and Goliath-like business battle.
How could they compete against such big companies?
Well, they paired up with a machine learning company to begin deeply personalizing their campaigns.
This involved creating products tailored to each customer and changing the copy for advertisements to resonate with their interests.
That’s one of the most underrated parts of AI: the empathy it creates. You can step into the customer’s shoes and create experiences custom-fit for them.
The campaign resulted in an impressive 30% increase in click-through rate, a 62% better response rate, and a 130% jump in conversions!
Not only that, but Trendyol went on to have a much stronger social media, SEO, and email strategy thanks to everything they learned throughout the campaign.
2. Better targeting and refined customer segments
Targeting a generic customer segment won’t get you very far. It’s critical that your agency narrows down a very small pool of users that match your services perfectly.
Legendary marketer Seth Godin calls this finding your 1,000 true fans. A.K.A the smallest possible segment that’s perfect for your agency.
But can how you can find these people and make a meaningful connection with them?
Using a buyer persona, which is simply a defined segment, has been found to make websites two to five times more effective, let alone advertising campaigns.
This is an example of a detailed buyer persona. Understanding your ideal client inside and out like this allows you to deliver a better experience and service.
Machine learning is capable of analyzing segments of users who interact with your website, ads, and other properties to determine which has the highest potential to convert.
This will allow you to double-down on buyer personas who offer the most ROI and highest lifetime value.
You can spend more time nurturing relationships with these customers and understand how to give them a better experience with your agency, as well.
3. Discover problems and find new opportunities
How many times have you found a bug on your website, only to wonder how long it was there? It could’ve been days, weeks, or months! Who knows how much revenue it cost you, too.
Well, actually, you could know.
Machine learning will find these problems as they appear before they get out of hand. They will be displayed as anomalies which are pieces of data that stand out from the rest.
Agencies can tackle these small problems before they snowball into disasters. But everything isn’t so grim.
Machine learning is also capable of helping your agency discover new opportunities. These can be everything from high performing marketing channels to untapped search terms.
That brings me to my next point.
4. Uncover high performing keywords for SEO
Keywords are the backbone of great SEO. Do you know how your content will perform without them? Not very well.
It’s common for agencies to struggle to find search terms that will drive traffic and relevant users.
They’re a tricky thing.
It’s easy to target the massive volume of keywords because who wouldn’t want mountains of traffic?
Nonetheless, these are very difficult to rank for and everyone leaves the long tail search terms alone making them low hanging fruit.
While keyword research tools will send you in the right direction, few agencies are realizing the potential of machine learning when paired with SEO.
You will be able to discover search terms that drive great amounts of traffic with minimal competition that you might’ve not found otherwise.
Finding these kinds of keywords is like hitting an untapped goldmine, but it isn’t easy when you’re sifting with your own bare hands.
That’s why any agency serious about search engine optimization needs to invest in machine learning.
5. The financial analysis becomes much easier
If you could optimize how much you spend on ads, marketing, and other expenses, wouldn’t you? Of course!
Yet, agencies still insist on not using machine learning to find better ways to budget ad spend, marketing campaigns, and other financials.
As I mentioned before, machine learning can help optimize spending for PPC campaigns, but also influencer marketing, media buying, and other forms of advertising.
This is thanks to financial anomaly detection.
Furthermore, these types of software are capable of identifying patterns in expenses, assets, and other elements of accounting.
Heck, even the International Federation of Accountants believes that every accountant must learn about machine learning. It’s becoming that important.
If you wish to ultimately speed up and optimize your agency’s accounting process, look no further.
6. Improved cybersecurity
Things hit you when you least expect it. Many of us aren’t constantly thinking about the security of our websites 24/7, but we should.
It’s too easy to get comfortable despite cybersecurity becoming a growing issue.
On that note, it’s estimated that 33 billion records will be stolen in 2023 by cybercriminals, but you can avoid becoming a statistic thanks to machine learning.
Artificial intelligence is capable of finding website security flaws, unauthorized logins, among other warning signs that you’re at risk of being compromised.
Not only will it alert you in real-time regarding cybersecurity, but it can also prevent brute force attacks, credit card fraud, and serious security risks before they happen to begin with.
A lot of these processes happen in the background while you’re growing your agency, offering you peace of mind as you tend to important tasks, too.
Wrapping up how machine learning can scale businesses
If you had the choice between doing everything in your agency with your own hands or allowing AI to do it better and faster, wouldn’t you?
Well, that’s more possible than you might think.
Machine learning will connect to your campaigns, software, and other channels to find opportunities. This will save you time, energy, and make your agency more productive.
It also creates the opportunity to create deeper connections to customers thanks to personalization.
Start a free trial with our machine learning platform over at Morphio if you’re interested in seeing how digital marketers can work in new ways and agencies can scale with less people and costs.