A factor that’s critical to marketers today is the sheer volume of advertisements that struggle for the eyeballs and mind-space of audiences. One of the commonly talked about realism that is spoken about quite often is that four-five decades ago, audiences were exposed to around 300-500 ads a day, or thereabouts.
These figures supposedly sounded like a lot then, although when compared with the figures today, which is around 10 times more, those figures appear small.Digital advertising has been promising to cut through this clutter but because of exponential growth, it has ended up adding to it.
At present we are in the era of predictive marketing, driven by the rise of artificial intelligence (AI) and machine learning, which is expected to cut through the increasing clutter in advertising today. AI and machine learning, involves use of precise and predictive intelligence that enables consumer engagement and personalization at scale. This is what has come to be known as predictive marketing where customized digital content automatically reaches individual consumers in real-time for more effective and precise impression. AI is the technology that helps marketers creates real-time predictive insights that anticipate and exceed customer expectations.
Till recently, the use of the term ‘predictive’ to describe a process that revolved around what can be called ‘adaptive’ capability. Such capability uses static rules framed by the marketer in advance, that can make instant content decisions but does not provide continuous machine learning. On the other hand, predictive intelligence is automatically processed by technology enabling machine learning in real-time. How does it do this? Its ability to observe subtle trends in customer engagement and deliver precise and personal communication is possible because it bypasses the need for A/B testing and trying to re-learn the subtle trends every time a consumer engaged.