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14.05.2019 Interview: What are the trending topics around Marketing Attribution?

Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the company. With over 20 years of experience as a leader in digital AdTech and MarTech start-ups, he sets the course for innovative technologies.
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07.05.2019 4 tips how marketers can keep pace with growing technological innovations

The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up with the latest trends and developments in technology. The growing number of AdTech and MarTech solutions poses growing challenges to marketers in terms of budget, staff, training and time.
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Artificial Intelligence In Marketing: 4 Areas That Were Greatly Influenced by AI

Künstliche_Intelligenz
19. 10. 2017

In recent years, Artificial Intelligence has already paved the way for digital marketing. Today, an incredible amount of data has to be processed there. This is where Artificial Intelligence comes into play. In times of Big Data, the challenge is not just collecting enough data (e.g. on user behavior), but also to process and evaluate it in such a way that you can draw conclusions from it and make concrete recommendations for actions.

In this blog post, we look at four areas in online marketing that have been majorly influenced by Artificial Intelligence (AI). We will also show you why AI already plays an important role in the online world today, and will even more so in the future.

 

TARGETING/PROGRAMMATIC BUYING

The ecosystem of data-driven advertising is often supported by Artificial Intelligence. In the Programmatic Buying process, for example, AI calculates which advertising space is the most lucrative for advertisers and tests innumerable possibilities within a split second.

Artificial Intelligence is also used in targeting to reach every user at the right time with the right message and the right channel. This way, the user is served the advertising measure that best suits his requirements. Algorithms analyze massive amounts of historical data to find out which advertising measure has the most positive effect on which person and in which phase of the buying process. These algorithms evolve independently and learn over time. The process is therefore also called Machine Learning.

By employing such algorithms, companies can place advertising much more effectively than with conventional methods. Also, customers can be targeted with personalized content at exactly the right moment.

 

PERSONALIZED CONTENT/AUTOMATIC GENERATION OF CONTENT

Nowadays, customer approach in marketing must be as individual as possible in order to offer real added value. But while companies usually have the necessary data, they lack the resources to evaluate it and target user groups individually. The use of Artificial Intelligence can help, as it can considerably improve the use of this very data.

For this purpose, it analyses individual customer data or purchase histories, identifies patterns and then makes decisions on the basis of previously defined strategic guidelines and objectives. AI determines the timing, channel and content to address the user. Ultimately, consumers are solely shown offers they are actually interested in via advertising media for which they are receptive.

This however not only applies to advertising, but also to the advertiser’s website. With the use of AI, website content, such as personalized homepages or product recommendations, can be adjusted to the individual user. The technology allows e.g. continuous, fully automated and extremely fast A-B testing, to check which content works best with which customer.

 

MARKETING AUTOMATION

Marketing automation describes the use of software and technology to automate marketing processes such as customer segmentation, integration of customer data and campaign management. The use of marketing automation makes processes that are usually executed manually, more efficient and also allows new processes to further increase the effectiveness of marketing automation.

Example – Email-Marketing:

Artificial Intelligence is particularly beneficial in email marketing. Emails and newsletters depend on personalization and a recipient-friendly design. Advertisers can use the power of AI to adapt emails based on customer preferences and behavior. It makes it easier to respond to the customer’s interests and behavior. With AI, it is possible to e.g. automatically and flexibly adjust the time of sending the email, the subject line and content.

 

MARKETING ATTRIBUTION

Marketing attribution is designed to distribute conversions and the resulting revenue to the responsible advertising measures throughout the customer journey. Newer attribution methods are data-driven and rely on advanced algorithms that continuously and dynamically calculate the impact of each touchpoint during the customer journey. With such sophisticated algorithms, advertisers are able to distribute their budgets more effectively to exactly those advertising measures that have a positive impact on the user’s buying intention and to improve the planning process of future marketing measures.

All you need to know about Marketing Attribution

 

CONCLUSION

Even though AI is still in its infancy, it is already an integral part of online marketing. AI has the great potential of serving relevant marketing measures throughout the entire customer journey– from the initial identification to the targeted sale, customer loyalty and maintaining the customer contact. Marketers are able to better understand who their customers really are, so they can deliver products, content and offers that meet the individual demands of customers in their current purchasing phase. But even AI has its limits. Marketing automation still needs a lot of care and monitoring because the systems are still not quite “smart enough” to learn from developments and find solutions truly autonomously.

Unlike companies that can benefit from AI in many ways, consumers still need to adjust to having everyday encounters with Artificial Intelligence. There is still a great need of information as consumers have an ambivalent attitude toward AI technology.

Interview: What are the trending topics around Marketing Attribution?

14. 05. 2019
Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the[...]

4 tips how marketers can keep pace with growing technological innovations

07. 05. 2019
The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up[...]

This is how travel brands benefit from marketing attribution

16. 04. 2019
Bookings via traditional travel agencies are declining nowadays. More and more consumers book their holidays online. The internet offers travelers far more opportunities for comparison and they[...]