Algorithmic marketing is empowering marketing leaders with AI and advanced automation techniques to deliver deeper insights, faster execution, and streamlined operations.
Algomarketing CEO, Yomi Tejemola, breaks down the jargon to explain what algorithmic marketing is and how marketers can adopt and benefit from these new techniques.
What is Algorithmic marketing?
Algorithmic marketing is a groundbreaking technique that unifies the latest advances in AI and Robotic Process Automation (RPA), to optimise and streamline marketing operations through better decisions and faster execution.
It leverages structured and unstructured data feeds from diverse data sources, processed through cutting-edge AI/ML algorithms including classical ML, NLP, Generative AI and RPA, to enable better marketing decisions and automated execution of marketing plans.
It drives superior customer experiences, relieves resource-intensive tasks, and improves budgeting strategies.
Most B2B enterprises today leverage data and analytics to inform their strategies, however, they’re reliant on human interpretation. Algorithmic marketing allows AI to interpret data at scale and make decisions with minimal or no human intervention.
The AI agents in algorithmic marketing assist the marketers with data interpretation and decision making. The decision choices then automatically trigger the most impactful marketing workflow execution.
Without investing in algorithmic marketing, businesses will quickly lose their competitive edge. Research commissioned by Algomarketing, stated almost a quarter of companies (23.2%) are seeing a return on investment (ROI) of more than 75% in marketing spend when investing in algorithmic techniques. The majority (68%) reported an ROI of 50%-74%.
What’s the impact of algorithmic marketing?
Working in partnership with Algomarketing, a global enterprise client delivered the following sales outcomes, through the implementation of advanced AI and automation through their marketing operations.
What are the benefits you can expect from AI and advanced automation?
Algorithmic marketing, which encapsulates AI and RPA, has a number of benefits over classical marketing operation techniques:
- Quicker and better marketing decisions
Marketers obtain richer and deeper insights very quickly by querying all available data through a natural language conversation. Moreover, the AI algorithms are fine-tuned for the marketing tasks. For example, a marketer may ask, "I want to launch a new product or service. Which of my existing customer base should I target?” In a classical marketing setting, a marketing/data analyst would have to spend days collating the relevant data and crafting the appropriate segments.
Through algorithmic marketing, this can be achieved in a matter of minutes. Sophisticated AI algorithms can identify latent cohorts and clusters of target customers that are virtually invisible to the human eye in Big Data. Furthermore, the AI can proactively create personas for each segment, recommend the right messaging for each segment and identify the appropriate communication channels.
- Efficient execution using existing MarTech solutions
In a classical marketing operation, once target segments for a campaign have been identified, several repetitive and manual steps need to be taken to execute the campaigns using the organisations MarTech tools. This can be a slow, inefficient and expensive process. In contrast, Algorithmic marketing seamlessly integrates AI-driven decisions to existing MarTech tools (through API interfaces) for automated execution. This can be done completely autonomously or at the click of a button, thereby giving the marketer the option to review and make any modifications (human-in-the-loop approach).
To summarise, the AI frees up the marketer from data querying and interpretation, enabling them to focus on creative aspects of marketing. The automation minimises the need for human intervention with MarTech tools.
An industrial revolution for the digital age
2024 is bringing an industrial revolution for the digital age, with AI able to take on more complex tasks than ever before.
This provides the opportunity for marketing automation experts to move beyond formulaic campaign programs with performance reports delivered once the campaign has finished.
AI and automation can be injected into marketing campaign production, enabling autonomous or highly assisted design, build execution and analysis. This continual learning enhances campaign performance by breaking the production workflow into modules, helping marketers identify the biggest automation opportunities to help overcome current challenges or bottlenecks. This not only increases performance but maximises ROI.
Introducing AI techniques to even just one module of a dynamic marketing operations workflow can enhance customer and colleague experiences, empowering skilled team members to focus on bigger initiatives.
How does AI increase operational efficiency?
- Enhancing workflow efficiency: Workflow can be more efficient by removing reliance on productivity-limited humans.
- Automation of menial tasks: Knowledge workers can focus on complex and rewarding tasks, improving productivity and satisfaction.
- Streamlined workloads: Employees have more focused responsibilities due to their ability to delegate previously time-consuming tasks to machines.
- Bringing joy back to work: Tedious tasks can make workers feel undervalued and burnt out. By automating these tasks, workers can deliver their best work.
About Algomarketing
By harnessing the power of algorithms, Algomarketing unlocks incredible efficiencies, drives innovation, and scales operations like never before through AI, automation, and machine learning expertise. By empowering marketing leaders to confidently make data-driven decisions, Algomarketing helps drive increased ROI.
You can read the Algomarketing full guide to demystifying algorithmic marketing for B2B enterprises here.