Martech Perspectives | Wednesday 06 October 2021
Global investment in marketing automation tools is expected to reach $ 25 billion by 2023, according to reports.
FREMONT, California: Since its emergence, AI has proven to be that revolutionary technology that has influenced almost every industry, its rapid evolution continues to transform various industries to achieve operational excellence. Affiliate marketing is one such vertical that leverages AI for efficiency and productivity. Marketers rely on AI to reach their correct target audience, run successful campaigns, and reduce the risk of fraud.
One of the many benefits of implementing AI in affiliate marketing is that it provides better data analysis. It’s a fact that successful marketing strategies are data driven. Without AI, it would take weeks for marketers to distinguish unstructured data from structured data. However, using AI, precise analysis can be derived from data silos, and data patterns can be easily identified. At the same time, the knowledge gained from analyzing previous campaigns, target audience and brand relationships greatly contributes to future advertising and marketing success. That being said, AI can be of great help in mobile advertising. With many regulations in place, it is quite difficult for marketers to get data from mobile users. AI can solve this problem by extracting data from different users, tracking their behavior, and allowing ads and promotions to be placed.
Besides the advantages mentioned above, other advantages have already been implemented and have been successful. For example, chatbots have grown in popularity over the past couple of years. Bots are programmed to process and respond to generic customer requests quickly. This way, only the complicated and complex issues are sifted through, allowing marketers to focus more on those issues. On the other hand, ML algorithms can effectively aid in fraud detection. AI-based fraud prevention methods can analyze campaign metrics and their connections accurately and come to a conclusion instantly.
Previously, marketers were reluctant to use modern technologies due to the lack of knowledge about AI and the lack of skills to operate it effectively. But as the technology itself has overcome all these doubts, implementing these technologies is the only way to stay ahead of the competition and get the most out of marketing strategies and campaigns. Needless to say, embracing the modern way of operating or experimenting with a new approach can be a wise move, although it may not seem appealing at first. Over the next few years, it’s possible that AI and ML will reach their full potential and revolutionize affiliate marketing as well as the entire business world.