Artificial intelligence (AI) is creating a groundbreaking revolution that's set to transform marketing into an interactive, real-time experience virtually undreamed of until now. As the amazing possibilities of AI become more apparent, industry specialists are preparing to incorporate this technology into every possible aspect of their upcoming campaigns, including video marketing.
According to a recent marketing report from Salesforce, 57 percent of marketers said that AI has become essential in providing a more personalized customer experience. These marketers added that they plan to expand their AI use by more than 50 percent over the next several years, allowing them to deliver more highly targeted ad campaigns and, ultimately, achieve a higher Return On Investment (ROI).
How AI Is Revolutionizing Marketing
Brands such as The Wall Street Journal, TopFan and Pandora are already using AI strategies to boost conversion rates and identify audience preferences. For example, Pandora uses AI-fueled machine learning algorithms to program new songs that listeners will enjoy. This strategy combines human input with AI technology to filter out recordings that are either duplicates or of lesser quality.
AI strategies are being implemented in virtually every aspect of digital campaigns today – from optimized PPC advertising to email marketing, chatbot support and even the creation of smarter ads. In fact, the Associated Press now uses AI (instead of sports reporters) to create its entire minor league baseball coverage. Likewise, AI is being used to create dynamic pricing (pricing based on demand, availability and customer profiles) on sites selling everything from retail goods to real estate.
When it comes to digital marketing, AI is still in its infancy. In particular, industry specialists are just now beginning to discover AI's potential in what is arguably the Internet's biggest marketing power player: video. Here are three ways in which AI can revolutionize video marketing.
AI and Video Marketing: Real-time Management
According to an industry report, only 7 percent of marketers say that they are capable of delivering data-driven, real-time engagements across all their necessary physical-digital touchpoints. By leveraging AI, however, marketers can manage these crucial elements of their campaigns – elements such as adding real-time updates to make ads current on a minute-by-minute basis.
AI is already in widespread use in travel industry advertising, thanks to its ability to create real-time updates in transportation and accommodation availability. Now, marketers are discovering the benefits of producing real-time, updated information in video ads for everything from cars and real estate to special event and performance marketing. In particular, advertisers are finding that constantly updated video content is especially effective in identifying, engaging and capturing the attention of car buyers who are searching online for the features – and price – they want. Likewise, marketers are also discovering how AI algorithms can leverage data to help them identify target audiences with the highest value segmentation.
Widening the Social Media Video Audience
More than 500 million people watch videos on Facebook every day; and with Facebook Live expected to get even bigger in 2018, the public demand for more interactive, current video content is higher than ever. By using AI, marketers can not only create engaging video content – they can also monitor it for optimum effectiveness.
For example, fans of the game show "Jeopardy!" might remember when, in 2011, IBM launched its superstar AI computer, Watson, to compete with two of the show's top contestants (Watson won). In 2017, Watson emerged again in the public eye when Toyota used the computer to help create 300 unique videos to advertise the RAV4. The strategy was ingenious: Programmers fed Watson data from the world's top 1,000 activities, then asked Watson to produce pairings of the activities that were least likely to be matched. The resulting videos, which were posted on Facebook and Instagram, featured entertaining vignettes of these pairings.
In addition to helping with creative or interactive content, AI can also provide valuable tools to prevent ad fatigue, which is the death knell for many advertising campaigns. Using AI algorithms, marketers can predict exactly when it's time to provide a new video ad with an up-to-date creative. This way, advertisers can remove an ad before viewers get tired of seeing it – and can also measure periods when the ad is most effective.
Profiles and Personalization
With the help of AI technology and algorithms, marketers can craft video ads with interactive or customized elements that will attract a desired target audience. However, AI can also take this customization a giant leap further by transforming personalization into individualization.
Savvy marketers know that personalization is the key to any successful marketing strategy. Toward this end, by using cognitive tools and data from personal profiles, AI can actually "parse" elements of video content so that the ad can be structured to engage each individual viewer. Likewise, a viewer's mouse-clicking habits can also dictate video content. For example, AI technology can track a visitor's search activity and then provide video ads that reflect the viewer's interests – just as display ads are configured to relate to a viewer's search history.
By implementing interactive, customer-specific elements, AI can transform video ads into a personalized, more immersive experience. Likewise, by providing valuable algorithms and relevant data information from customer profiles, AI can eliminate a great deal of marketing guesswork for advertisers. As AI continues to be developed and integrated further into digital marketing strategies, the potential for this technology seems to be virtually unlimited.