AI Powering Advertising Content Insights
Curse of Bad Decision-Making?
Decision-making is a part of our existence. Every day we need to make decisions that may have good or bad results. Moreover, people have different ways of coming up with their decisions. Some base their decisions on emotions while others apply critical thinking. Interestingly, you can use AI to automate and optimize decision-making.
Bad decisions prevail in the business world. Do you know MySpace.? It was the most popular social networking platform around the year 2000. Today, however, we’re just living in the shadow of its past. Dagogo Altraide explained in his YouTube channel ColdFusion the reasons why MySpace.com failed and declined as once a growing social networking site. Altraide said that MySpace executives made the wrong decisions. This involves ineffective content strategy, bad user experience, and outdated technology.
The case of MySpace perhaps confirms the fact that humans are prone to errors. Even intelligent people tend to make the wrong decisions. For example, advertisers and marketers may commit mistakes in their campaigns. Let’s say those simple errors in calculating ad costs can have the worst consequences. They may end up investing money in ad content that only drain their budget. So, does this mean we’re under the curse of bad decision-making? Is it difficult for us to make the right decisions due to our limitations as human beings?
AI as a Valuable Solution
Our limited knowledge, skills, and experiences can cause lapses in our judgment. That’s a reality we have to deal with. Yet, we have gifts that enable us to make the right decisions and solve our problems in smart ways. One of them is the capability to create technological advances. This is where AI comes in. AI is a data science discipline that blurs the line between humans and machines.
With AI, experts build machines that mimic how humans process data and perform tasks. Thus, they create machines that think and function like ordinary humans. Such technologies act on information and function with little or no intervention from humans. This is done using machine learning algorithms, which are sets of procedures and computations used to guide machines on what to do and how to do them. In addition, the machines can learn and improve on their own as they gain new experiences and face different situations.
What’s the relationship between AI and decision-making? It means we can make the best decisions without being mentally and physically exhausted. AI allows brand owners, marketers, and advertisers to pass data management to AI machines and tools. In particular, they can come up with ideas from information about their ad content.
AI-Powered Ad Insights
Leading cloud providers like Amazon added AI to some of their services and apps. In fact, it provides AI solutions that help users enhance their ad campaigns. Amazon Web Services offers a service called Amazon Comprehend. This service applies NLP or Natural Language Processing to understand the meanings hidden in texts.
With Natural Language Processing, AI tools let you know how your ad content affects people. For instance, if you serve ad content on social media, you’ll know what users think and feel about the content. The AI technologies extract information found in posts and comments. They analyze the information to reveal the true meanings of the words used by users. Thus, you’ll see whether or not people on social media are happy with your ad content and the business as a whole.
These AI technologies also enable you to measure user engagement. Thus, you can monitor and assess all important metrics you need about how users are interacting with your ad content. That depends on the specific goals of your campaigns. You’ll determine the exact number of views, likes, mentions, shares, clicks, conversions, sales, and revenues for a certain ad content at any time
Unlocked Customer Behavior
AI technologies allow you to deliver ad content suitable for your audiences. They let you keep track of the complete customer journey. You can discover key information about your customers. Their needs, interests, and preferences are all unlocked. One great thing with AI is that it can be used to make accurate predictions out of previous and current data.
Known as predictive analytics, this AI feature lets you have an idea of how well customers will engage with your ad content. Based on historical data on customer behavior, you’ll find out what possible decisions and actions they’ll make. Let’s say you know that some of them are interested in certain types of ad content.
Furthermore, they might have visited particular marketing channels or searched for products using certain keywords. As a result, you’ll serve the right ad content to the right customers on the right channels. Other than this, you can personalize your content to suit customers’ needs. Therefore. this increases the chance that people will convert or buy your products.
Intelligent Ad Spending
For obvious reasons, money is a primary consideration in making important business decisions. In other words., if you want to grow your business, you need to reduce your expenses and increase your profits. Let’s go back to the case of MySpace. The company actually tried to save itself from its demise. Along the way, the new shareholders and executives of the company used a new content strategy. They allowed music and news to be published on the social networking site, but that didn’t work. They failed to get traffic back, as Facebook began to attract more users. The budget for the new strategy, therefore, was spent in vain.
Through AI, you can avoid suffering the same fate as MySpace. AI is used in programmatic ad buying as well. If you run ads on ad platforms, you can bid for ad spaces and contents based on specific factors. These can be the location of prospects, intentions, and personas of buyers. and past product/service purchases. You’ll prevent wasting money while ensuring that you can reach your target audiences.
Moreover, AI allows you to adjust your marketing budgets and spends depending on performance. In an automated manner, you can increase the amount of money you allocate to ad channels and contents that deliver better results. When the ad content doesn’t hit your engagement, conversion, and sales goals, you can cut down your budget for it.
“Making Smarter Decisions on Ad Content Through AI”
AI is an invention that extends humans’ thinking abilities to machines. Indeed, it gives us the opportunity to make the right decisions in our business or personal lives, in spite of our susceptibility to mistakes. Through AI, we can obtain valuable insights into advertising content. We can discover and explore underlying social sentiments, customer behaviors, and spending patterns as we serve ad content on various channels.