Machine learning is a technological powerhouse that has been gaining popularity in recent years. It is predicted to be the future technology with which we all will work. Indeed, in the field of marketing, machine learning is dominating most conversations today. As a technology, machine learning is at its infancy. However, it is growing at an extremely fast pace.
In this article, Team Luxeveda will give you a basic understanding of ‘Machine Learning’ and talk about its impact in the field of digital marketing.
What is Machine Learning?
It is an application of Artificial Intelligence (AI), where the ‘machine’ collects data and analysis the same to find trends or patterns. It ‘learns’ from these trends, thus creating an algorithm that constantly improves the machine’s action on the data. As the data input keeps increasing, it refines the algorithm giving better results. As a result, it provides the system with the ability to automatically learn and improve from the data collected.
Machine Learning and Digital Marketing
Digital marketing involves recognising patterns, spotting the difference between meaningful signs and unnecessary noise. With all this data, it can be difficult to pinpoint important information; and even more so to use it productively.
Vice President, Marketing at Google, Janusz Moneta, explains: “Marketers need to be able to see the whole picture, from the most obvious details down to the faintest patterns. Thanks to machine learning, this super-charged vision is now possible.”
Machine learning works in analyzing huge amounts of data, giving quick and efficient results without human error. When you remove the analysis task from your marketing team, it gives them more time to focus on other marketing aspects. That is, it frees up time for creativity.
Advantages of Machine Learning
It is one of the biggest trends that brands are aiming for today. Providing a personalised customer experience which is well-aligned with the consumer’s preferences and needs is a primary marketing objective. Indeed, customers want brands to speak to them directly. This, however, would be practically impossible to execute and highly expensive. With the help of this marketing technology, marketers can now reach this objective easily.
For example, Netflix is constantly working to personalise viewer experience. Every time a viewer makes a choice, it gains information about their preferences. Then, based on these choices, suggestions are made.
2. Smart Bidding:
‘Pay per click’ is one of the most data-driven digital marketing activity. PPC executives invest a lot of time into analysing data to gain insights from the ad campaigns. This technology can provide substantial help in many areas of this process. Apart from just PPC, it is also useful to analyse the data from social media ad campaigns.
3. Optimised Content:
Content creators create content using the insights at their company’s or client’s disposal to structure advertisements or email marketing campaigns. Machine learning will give you an understanding of the audience sentiment. As a result, your marketing team will have an idea of how the audience might react to content. For example, Twitter is a prominent source for such sentimental data. This data can help you curate optimised and relevant content.
The best example of this is Google Rank Brain. It has the ability to learn from the searcher intent, hence making the search engine giant highly efficient. It is consistently improving on the accuracy of results.
We are aware of how machine learning is being used in many different industries today, from traffic prediction to fast-tracking the hiring process. Indeed, the insights from this technology are helping all sectors improve the quality of service provided. In the field of marketing and business, it is building brand trust and brand loyalty. Overall, it is a great tool for any business.
Regardless of its benefits, machine learning is not meant to take over the role of digital marketers, but would be primarily used to improve digital marketing strategies and facilitate the work of digital marketers. By using machine learning tools, you are preparing you are merely preparing your business for a technology-dependent future.