The global demand for machine learning (ML) based solutions is anticipated to touch $8.81 billion by 2022! ML plays a significant role in our everyday lives, from virtual assistants like Alexa and Siri to pre-approved credit card deals and chatbots, we have machine learning operating in numerous forms around us. This has also given rise to the demand for digital marketers with machine learning expertise.
Hence, setting yourself up with machine learning courses would be a great opportunity to advance in this growing industry. Point being, the more you learn how ML impacts your career, the better you’ll be at your profession.
ML solutions are used to resolve a multitude of distinct problems, and several companies stand to profit from this as we move towards a lifestyle of hyper-converged content, channels, data, and context. The ML influence is so extensive that almost 97% of marketing specialist assume that the future of marketing will include tech-savvy marketers with machine learning-based automation. Nearly 84% of marketing organizations are realizing the power of ML and artificial intelligence (AI) and expanding their management accordingly. For the modern digital marketer, ML can assist them with predictive knowledge in structured and unstructured information.
Let’s take a closer look at how ML can boost your digital marketing career!
- Real-time Intelligence
Real-time has become possible for digital marketers with the advent of ML. No other form of operation has ever come close to the level of responsive technology that ML offers. With ML, customers witness multiple offers changing every minute based on the extensive data their actions form for machines to process. Facebook’s retargeting ads is a great example of real-time marketing. A prospective buyer visits a website, and the machine automatically surfaces the ad on their timeline if they leave the website.
Handling big data and acquiring actionable insights is one of the most important support systems for any online business. ML is a cutting-edge technology that has opened new opportunities for many digital marketers as it allows them to analyze tons of information in real-time and manage deep insights.
- Personalised User Experience
A common problem that most digital marketers face is the inability to manage the vast amount of data created by consumers. The next problem is the inability to operationalize the insights to handle conversations in real-time for a personalized consumer experience. This is where ML plays a pivotal role in marketing. Almost 81% of consumers want brands to understand their preferences and nearly 74% of consumers get irritated with content that is not relevant to them. The bottom line: consumers need to be classified and recognized for a better user experience. This is the reason why personalization has been one of the most significant marketing trends for years.
ML technology helps with personalization with predictive search and delivers recommendations. The same data ML algorithms employ to suggest products or search results can also be equipped to create personalized content for every consumer. You can improve your digital marketing career with highly-specialized ML tools as it helps to generate content editing advice, insights, and recommendations.
- No Marketing Waste
Powerful digital marketing reaches its target audience and produces a better conversion rate. The only hurdle that lies in this process is the hassle of marketing waste. Marketing campaigns need to practice the trial-and-error method to create an effective strategy. Be it offline or online, these campaigns typically use multiple approaches in the hopes that maybe some will be useful. ML has the potential to eliminate much of digital marketing’s unpredictable nature. Imagine the marketing campaigns that you created were noticed specifically by the audience you wanted or by the people who’ve researched the web for products and services that you also offer. With ML, all of these things are possible. By utilizing the behavioral data, digital marketers can promote their work by effectively targeting their viewers. This will improve the probability of converting onlookers to customers and further save their time and efforts.
- Reduce Expense
All marketers frequently rely on ML to discover more competitive pricing and if a digital marketer knows how to manage their funds, they can fare very well in the industry. With ML applications, you can establish pricing flexibility by utilizing factors such as sales period, customer segment, channel segment, and the product’s status in the overall pricing policy. With everything now online, ML can adjust accordingly to manage any marketing challenges. Cost is one of them. ML reduces marketing expense as it requires only a few people, and further lowers communication expenses. Now a majority of consumers can be updated about the discounts and offers via scheduled social-media posts, automated emails, and online advertisements.
A recent study published by Gartner states that 85% of customer service communication will be powered by chatbots by 2020. As the predominance of ML displays a more widespread approach in the marketing world, organizations are funding massively in ML technology in a bid to increase customer engagement. ML can take your digital marketing career to a new pitch and quickly identify the important bits of data that are valuable. By manipulating data in your marketing strategies, you can take your career to a new level and stay a step ahead from your peers.