Will AI automate my work? This question has been asked over the last decade. But for many, the answer seemed far off… until recently.
ChatGPT, a new technology with the potential to change the way people live and work, is emerging as we advance in artificial intelligence and automation. OpenAI’s ChatGPT was launched to the public in December 2022. In less than a month, it had 1 million users and was referred to by Elon Musk as “scary.”
What does this mean for media buyers and marketers?
The marketing automation software market is expected to unlock a market capitalization of $6,4 billion by 2024. Emailmonday reports that 51% of businesses are already using marketing automation, and 58% plan to do so.
With the growing interest in advertising platforms, different types of marketing campaigns can now be achieved in just a couple of clicks. Automation allows campaigns to scale faster, access virtually every digital channel, and find the right audience when they need it.
However, the increased automation has changed how agencies are viewed.
The focus of agencies should be on providing clients with long-term, unique value. Innovation cannot be based solely on tactics like media purchasing or content development. Finding moments that allow brands to connect with customers is the ultimate goal.
In an era when AI and automation are supporting productivity, decision-making, and purchasing, agencies can differentiate themselves through human connection, innovation, and strategy.
1. Understand your target audience
After the continued automation, agencies need to take a step back and examine their target audiences. What is their motivation? What are their core values? What are the values of their brand? What products and services resonate the most? Why? What are the other agencies doing to make their clients stand out?
It is a mistake to look for inspiration from other agencies. When you view other agencies within the same industry as a source of inspiration rather than an enemy, they can inspire motivation, drive innovation, and ultimately propel the entire advertising ecosystem forward.
To better understand the source of success, agencies should utilize readily available data on consumers, SEO tools, and social networking. After these tools are implemented, a more accurate picture of the client’s target audience will emerge. This will help both the agency and the client better understand why their customers behave the way they do.
2. Mindset is a powerful tool to help you build thoughtful strategies
The next step is to understand why clients behave the way they do. This will allow agencies to offer clients tailored tactics that are in line with their reasoning.
Since the tactics for gaining new customers through media buying have been automated to a large extent, agencies need to focus their efforts on retaining existing clients. Since creativity, originality, and perspective cannot be automated, agencies should focus on keeping the attention of their current customers.
The shift from grabbing eyes to maintaining a gaze can make a huge difference in the retention of a loyal client base.
The agencies should also make extra efforts to improve the customer experience. If an advertisement attracts customers, a poor website interface can disappoint them and reduce their likelihood of purchasing.
In a world in which agencies can meet clients literally anywhere, at any time, an inviting and seamless experience is what transforms a first-time customer into a loyal and lifelong client.
Superior experience helps agencies strengthen and maintain partnerships. Customer retention increases when a brand’s experience is positive. According to a survey, 75% of respondents cited good service as the reason they return for more.
The best results will come from understanding the mindset of customers at certain points of contact. This type of data analysis is becoming increasingly important as marketing campaigns become more automated.
3. Control creative at every stage of the customer journey
The agencies should encourage clients to rethink their creative strategy at each stage of the customer journey.
Companies should first focus on gaining attention and capturing the interest of potential buyers. In the early stages of interaction, creative assets shouldn’t be a sales pitch. They should instead be educational, informative, and interesting.
It’s important to use creativity at the beginning of the customer journey, but it is also important to continue using those strengths throughout the entire experience. It’s up to the agency to make sure that their client can follow suit and continue the relationship.
Color alone can drive brand recognition. Controlling creative assets throughout the entire consumer journey is crucial to determining whether or not customers will continue to engage with the brand.