How can AI be utilized to enhance marketing effectiveness and efficiency? To gain insights into the impact of AI on marketing and advertising, I interviewed Ryan Coyne, CEO of Starboard, a digital marketing and advertising firm.

1. Consumer Understanding: AI is revolutionizing marketing by enabling a deeper understanding of consumers. It integrates and analyzes vast amounts of consumer data, allowing sales representatives and customer support agents to have comprehensive knowledge about products and provide accurate answers to customer queries. This not only leads to the replacement of millions of jobs but also creates a personalized and immediate experience for customers.
2. Customized Messaging: AI not only helps sellers understand consumer needs and behavior but also enables personalized advertising. While most consumers are accustomed to receiving emails, messages, and pop-ups with product recommendations, AI takes it a step further by creating tailored ads for specific individuals or groups. This increases the likelihood of converting them into customers. For instance, imagine being a PetSmart customer with a Labradoodle. In the future, PetSmart could reach out to you via text message, engage in a personalized conversation about your dog, remind you of the specific product your dog needs, and share success stories of other Labradoodles in your area.
3. Predicting Future Trends: In addition to generating consumer insights, AI has the ability to identify, capture, and predict future trends. By analyzing social media content, AI can accurately predict consumers’ tastes, preferences, and changing needs. This empowers marketing agents to anticipate future demand, adjust supply, and develop strategies for product improvements and future campaigns.
4. Enhancing Customer Experience: AI-powered chatbots equipped with natural language processing can provide personalized and efficient 24/7 customer support. These chatbots understand and respond to customer queries and requests, making it increasingly difficult to differentiate between an AI-powered chatbot and a human representative as natural language processing models improve.

AI is revolutionizing marketing by enhancing consumer understanding, enabling customized messaging, predicting future trends, and improving customer experience.