New Business Opportunities in Los Angeles The City of Angels…
Under Pressure: Cost and Time Efficiency
As an CEO, SMB owner, agency director, or startup entrepreneur, your concerns about business outlook likely have a similar ring to them. The top 3 costs, time and lack of ROI are the first that arise. Is the solution radical?
It’s rough. You’ve probably watched other businesses go belly up, while you’ve seen new startups somehow get a foothold. But the stats show many CMOs are giving up. So what is it that allows some organizations to excel today?
Last year, CMO turnover reached its highest point since Russell Reynolds began tracking the data in 2012 — from post on Contently.com
I’ll bet the digital marketing world and digital business have you stymied. Even the smartest business people are strangely inarticulate about what’s going on or what to do. This post is about what’s driving change in marketing and what the successful survivors will be doing to re-organize their businesses and improve their marketing performance.
Casualties and Those Who Reach New Heights
What we’re all perplexed about is that something big is happening, and we can’t see into it or deal with the change it’s bringing to our market. We can’t tell if it’s good or bad, know what’s happening, or toubleshoot it, yet on our current trajectory, things look troubling for workers and businesses. It’s easy to be a paralyzed victim, but we can avoid becoming a casualty by taking how we do marketing to a much higher level.
According to SmartInsights, in 2015 alone, nearly 2.4 million U.S. jobs were outsourced to other countries. Add the loss of 7.1 million jobs to artificial intelligence across 15 leading economies over the next five years and you can see it’s a perfect storm for employment in North America and Europe.
How Did We Arrive at this Point?
In digital marketing as an example, markets have splintered into numerous communication and expense channels, each requiring its own specific expertise and vocabulary. The complexity is too tough for CMOs or workers to manage. Many want out and you can’t blame them. And most businesses simply don’t possess nor can afford expertise in each area of marketing. The staffing costs are ridiculous.
Marketing interns, outsourced work to India, or students doing content creation, SEO, ppc, email, and client account management are the typical solutions resorted to. The result? Poor performance and business failure.
Agency clients/CFOs are demanding change. What if software took over the jobs of most of the marketing staff? That would carve out big money which could be retargeted for campaigns. Yet if market competition is overly competitive, what says our campaigns won’t fail anyway? Can software really do an Adwords or Facebook advertising campaign all that much better? Agonizing questions.
Millions of marketing people worldwide are upskilling right now but it may be too late. It will be a big leap. This is where you need to be way ahead of the curve. It’ll be a wild ride, but maybe some of us will land on our feet.
Rising Artificial Intelligence Solutions
Yes, business owners are checking out AI software solutions which have been portrayed in villainous overtones. Despite that, they’re discovering how these software systems comprehensively manage and optimize entire digital marketing campaigns. They integrate, test, improve, report, advise, and work 24 hours a day. And they can help forecast campaign outcomes and customer behavior. That’s gotta be helpful.
AI Can Also be a Marketer’s Best Friend
For a talented marketer, AI can remove painful tasks, time-waste, and optimize campaigns. It is a creative marketers best asset going.
For those concerned about a robot takeover, remember that artificial intelligence (AI) can be a marketer’s best friend. Robots, unlike people, are consistent. They are good at tracking and delivering high-quality results which save us time, money and effort. Robots ultimately answer to us, making them effective helpers upon which we can increasingly rely. — Eden Ames, American Marketing Association
What a great insight for those who need to get great results! Leave the politics and drama behind and get back to work. You can redeploy your financial and staffing assets to high production areas. You can personalize content for online customers via their click behavior, content interests, geographic locations, or preconceived customer personas and let your CRM bot respond and interact with customers online. Oh, and it appears to be pretty good at handling leads and converting the too.
Adgorithms launched their AI product branded as “Albert” has shown some impressive gains in social media paid advertising:
In month one alone, Albert increased Cosabella’s social and search ROAS by 50% while decreasing its ad spend by 12%. And on Facebook specifically, Albert produced a 565% increase in ROAS within his first month. By month three, Albert had increased Cosabella’s ROAS 336%–a 155% increase over the previous quarter. Albert’s work in just Q4 contributed to the company’s 50% year-over-year increase in overall ROAS. This success represents a 37% increase in overall website sessions, a 30% increase in new users, and 1,500 more transactions.
Prior to Albert, Cosabella credited social media with 5 – 10% of its paid ad revenue; with Albert, social media now consistently accounts for 30% of the brand’s total paid ad revenue. Albert’s success driving conversions on Facebook resulted in a 2000% increase in purchases originating from the channel. — Courtesy of Albert.ai.
Check out more about which AI marketing software is best
The AI marketing software can conduct all the tasks, scheduling, reporting, and optimizing of multi-channel campaigns. It does it all and fast like testing your email and blog content to where it finds the copy that gets the best response. It can’t do SEO yet, but it’s only a matter of time when AI SEO bots will wrestle directly with Google RankBrain for SERPs domination.
Where Are you in the AI Marketing Software Adoption Spectrum?
If you’d like to explore it please let me know. We can speak with experts and AI marketing software reps to explore the right solution for your company. Then you can explore other options for creative content and digital marketing communications.
If you are re-organizing to accommodate the new software, you’ll need to formulate what work skills will be needed to augment what the software does. The AI software won’t optimize your copywriting, visual content, SEO, or social engagement anytime soon. There’s still a need for creative optimization and oversight, so that should allow you to control implementation and ramp it up without fear.
Here’s some additional insight into AI and how it’s being used in digital business:
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