It is commonly understood today that marketing executives are expected to create a smooth customer experience along with establishing trust, empathy, and personalization within the process. To do this, leaders must have a perfect balance between creativity and data-driven insights. However, effectively executing marketing strategies that will not only reach your target audience but also encompass the brand’s values and mission is not as easy as you might think. You must first have the right tools/resources to better understand your customers. Therefore, as the leading AI executive search firm, MarketPro is seeing many top companies include artificial intelligence into their marketing strategy mix.
Fortunately, today, AI technology has become so advanced, it can help companies with many marketing components. According to the McKinsey Global Institute, “AI and Machine Learning are on track to generate between $1.4 Trillion to $2.6 Trillion in value by solving Marketing and Sales problems over the next three years.” The challenge with AI is finding the right and necessary AI tools for your business. To make things easier, leading chief digital officer executive search firms have listed out the most commonly used artificial intelligence applications by top marketing executives.
AI Trends AI Executive Search Firm Suggest Top Marketing Executives Watch Out For:
Increase In Ethical Artificial Intelligence
Due to the increase in digitalization and high demand for personalization marketing communications, companies are relying on artificial intelligence to acquire the knowledge they need to perform their jobs effectively and efficiently. However, there are so many different applications in the market, and not every AI is created equal. Companies are looking for AI partners who are committed to data ethics.
The reality is data privacy is a huge problem in the digital world and many consumers are expecting top marketing executives to carry out their marketing strategies ethically. It is crucial for your AI system to not only be capable of processing data inputs but respect the user’s privacy.
Fortunately, according to Forbes, “AI systems are beginning to incorporate some of the most sophisticated cryptography solutions available in the marketplace today.” This will ensure all data is secure and is held up to the privacy standards of users. However, this is still an ongoing challenge for AI professionals. Therefore, as marketing executives, you need to carefully consider the types of AI systems you are using while also incorporating new methods to obtain data.
A great solution chief digital officer executive search firms are seeing top companies use is zero-party data. Zero-party data is data provided by consumers. Not only do you have a more direct direction on what the consumer wants, but you can build trust and transparency at the same time.
As marketers, using the test and learn method is how you build a stronger understanding of your customers. It helps you execute better marketing strategies that will in turn boost brand awareness and create customer loyalty. According to a study done by McKinsey, “more than 50% of companies whose revenue growth is in the top 10 percent are more effective because they test ideas, measure results, and execute changes.”
This is where reinforcement learning can help your marketing team and reduce their workload. This algorithm actively learns and adjusts in nearly real-time. It can take the data it has acquired to enhance the effectiveness of new data. RL can help you plan better business strategies, optimize advertising campaigns, and generate more relatable content. However, just like the test and learn methods, it requires quick actions with immediate feedback.
Unsupervised Learning is a machine learning technique in which the users do not need to supervise the model. It helps the model to function on its own to find trends and detail previously undetected. The report primarily covers unmarked details.
The reality is when you look at the same data or information over and over again it is easy to miss different correlations. Having unsupervised learning helps companies see their data from a new perspective and improve their marketing strategies from a different angle. However, from an AI executive search point of view, this is not the most reliable AI and machine learning method. Because the input is unknown and not labeled into different categories, the machine is forced to figure it out on its own. Therefore, if you plan on implementing unsupervised learning into your daily functions, the leading chief digital officer executive search firm highly recommends you carefully analyze the results and ensure it is beneficial to your overall business goals.
Despite certain negative feedback with the use of artificial intelligence, it is apparent AI is one of the most effective resources marketers can have at their disposal. Consumers are growing tired of being reached with the same message on the same platform. AI improves the customer experience by offering personalized and tailored content and top-notch customer support. In addition, it can determine future trends and pinpoint the most valuable leads in your target market. All of which will set you apart from the competition.
At the end of the day, you choose the kind of resources you need for your business challenges. It is up to you whether or not artificial intelligence will be beneficial to your strategy. But one thing is clear. Regardless of your decision, you still need to have the top marketing team to push past your competition. Does your marketing team have the capability to incorporate these trends effectively? Do you have all the key marketers you need to execute an effective marketing plan? If the answer is no, consider contacting the leading AI executive search firm to understand the different options you may have. Don’t risk your chance of hiring the wrong marketing executive talent.