Technology has changed everything around the world. While it has also created large outcry from people whose job technology took over, nobody can deny that without technology, the world will stop functioning today. While it has made the market for several jobs smaller by taking over human jobs and conducting them much more efficiently, it has also enhanced several fields around the world to create a much wider market.
Marketing is one such field that has completely transformed under the influence of technology. The crux of marketing today is changing from traditional forms such as televisions, radios, and billboards to the internet. This is what we have come to call Digital Marketing.
If you ever notice that Facebook displays advertisements for websites that you recently visited, you should know that this is happening because of the digital marketing efforts of that website and the platform of Facebook. But digital marketing is changing as investments in Artificial Intelligence, and Machine Learning continue to grow.
The Marketing Context of Machine Learning
Why? Here are x reasons why Machine Learning is the future for Digital Marketing and hence warrants learning:
Go back to the idea of Facebook ads from websites that you recently visited. You will notice that these advertisements display instant changes as the websites you visit change. This is one application of machine learning that has completely redefined the idea of response times for marketeers. Watching changes happen in real-time is now a possibility.
Eases Data Analysis
One thing about digital marketing is that it is entirely based upon data, which is first processed to create information and then act on it to direct actual marketing efforts. This analysis has to be undertaken by a human to generate insights about the real world. However, with the advancement in Machine Learning and its capacity to learn automatically, it is predicted that analyzing trends and decision-making will hence become easier.
Costs and Wastage
With human rationale, errors are inevitable. We make mistakes, and the mistakes cost the company some capital, which is often recorded as expenses. This is the wastage that human analysis can create. With machine processing, the errors are completely avoidable, and hence, wastage will be zero. This significantly saves costs and allows for better investments for the business.
In addition to that, the costs of a business are significantly cut as the number of people that are involved in making business decisions is significantly reduced or eliminated, which means that lesser people to pay. While on the other hand, Machine Learning directly relies upon online media to automatically receive information, which reduces costs.
A huge part of convincing customers to buy from you is customer service. With increasing AI dependence, this service is bound to improve the services offered to the customers and how they are offered. This is a direct effect of the huge amounts of information that will be available to marketers with Machine Learning.