Did you know that the market size of AI is 200 billion USD? This shows how the market is growing with time and how large companies like Nvidia, Google, and Meta are contributing to it. Among all these, Microsoft has the largest stock with 24.8%, and built an AI ecosystem.
Similarly, AI is helping companies promote their products globally and target a larger audience. Therefore, in the next section, we will discuss how AI is helping marketers build dynamic ad campaigns to get more ROI from their investments.
Top Benefits of Using AI in Advertising
Here are a few top benefits of using AI in advertising:
1. Enhance Customer Experience
AI is known to improve the customer experience and deliver a more customized solution to the user. The machine learning technology of AI helps analyze the vast amount of customer data collected and showcase the future to you. Furthermore, it helps you understand customers’ needs and wants, and based on that, you can provide a personalized view of the product.
For instance, Nike uses AI to enable people to design their sneakers in-house. Moreover, the insights gained from the experience enable Nike to create better shoes in the future. Thus, you can see how AI drives change in the advertising field and helps customers engage more with the product and eventually buy it.
2. Reach Out to More Customers
Another benefit of AI is reaching out to more customers to drive better sales and revenue. AI can help you target an audience and create effective marketing strategies to make them aware of your goods and services. Thus, you can get better market penetration, target the local audience, and eventually see your products.
For instance, Coca-Cola analyzes over 120,000 pieces of content on various social media platforms to understand customers’ shopping behaviors. This includes the way people talk about their products and brands. Based on that, they create better campaigns to target a larger audience. In addition, they analyze past campaigns and identify trends and patterns to create better ads and stories to target new audiences.
3. Understand Customer Journey
One of the ways to make advertisements more engaging is by defining the customer journey. AI helps you to track customer engagement with your advertisement. This includes –
● How many times have customers visited the website?
● What are the products they have seen and reviewed?
● What are the different ads they clicked on?
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● Lastly, how do customers interact with the advertisement?
That way, you can understand the pain points of the customers and define a customer journey, which will help you build a more comprehensive advertisement. In addition, AI also focuses on what sections of the ad people focus on and how quickly they click on the CTA.
4. Save Cost and Increase Sales
Cost-cutting is a norm in modern business. Therefore, businesses are looking for AI to help them strategize their marketing campaigns and identify patterns to improve their advertising. With less investment, you can get more ROI from your ad campaigns. Machine learning will analyze the huge data and build a suitable marketing strategy to target new audiences.
Even Amazon uses AI to set your pricing strategies, which helps them optimize your costs, drive better sales, and improve their revenue. Also, they allow them to plan their marketing strategies and build better ads, which helps to lower the product price and boost their sales. Eventually, it helps Amazon to drive better sales and revenue.
5. Optimize Your Campaigns
AI is becoming a fundamental part of digital marketing. It helps companies optimize their ad campaigns, ensure they are engaging, and get more ROI. Therefore, with AI, you can know what will work and what won’t, which further indicates the steps you should take to make a successful campaign.
Eventually, this will help you improve customer engagement and boost your retention, further increasing your sales and revenue. AI collects data from various places and gives you a projection of how to build engaging campaigns to satisfy loyal customers and add new ones. Thus, with minimal investment, you will get maximum ROI from your campaigns.
A great example is ltx.studio used by creators for visual storytelling. It uses AI to transform text prompts into visual storyboards.
The Bottom Line
In the end, we can say that AI is slowly becoming a critical part of the modern business landscape. Its range of usability enables companies to sort out their supply chains and make them more proactive. Similarly, AI can help advertisers build more attractive ad campaigns, which will drive better sales and revenue.
Thus, you can look at the article where you can see the benefits of AI in advertising and how it is helping the big sharks and SMEs to build more engaging and comprehensive ad campaigns. Lastly, accumulating data can help you develop better products in the future. So, using AI can help you see the difference in your work process.
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