Study Finds That AI Adoption in Marketing is Limited by Marketers’ Perceptions; 40% Think They’re Already Using AI
February 15 2017 - 8:00AM
Business Wire
A Third-Party Survey of 150 Marketing
Executives Commissioned by Adgorithms, creators of
Alberttm, Reveals That Marketers Don’t Understand
AI-Driven Marketing But Are Plagued by the Challenges it
Addresses
Adgorithms (LSE:ADGO), creators of the world’s first fully
autonomous AI marketing platform, Alberttm, today released the
findings of new third-party study, “AI: The Next Generation of
Marketing,” conducted by independent research firm Forrester
Consulting. The company commissioned the study in order to gauge
marketers’ perceptions of artificial intelligence, as it relates to
marketing, other marketing technologies, and widely-known industry
challenges. The research is available for download here.
Among the findings, the study reveals that marketers’ lack of
understanding of AI-driven marketing might be influencing the rate
of its adoption to date. This lack of understanding is punctuated
by the fact that over 40% of participants said they thought they
had already adopted AI-driven marketing, reflecting a belief that
their targeting capabilities and automation meant that AI was
operating behind the scenes.
Still more confusion was revealed by marketers’ varying levels
of ability to delineate between targeted campaign efforts and true
contextual marketing (relevant, personalized advertising and
marketing based on insights gathered from relationships, and
historical and situational context with customers). The latter
represents tremendous opportunity to deepen and personalize
customer relationships, but also represents considerable
complexity, which is precisely what stunts marketers’ evolution. It
is also what AI-driven marketing automates and simplifies.
“We believe the results of this study confirm many of the trends
we’re witnessing in the marketplace, but we were surprised by the
root causes of common marketing challenges,” said Amy Inlow, CMO of
Albert. “The common denominators driving these challenges were
marketers’ willful lack of knowledge about the tools they’re
working with and the tools available to them. As a result, they
continue to be plagued by technological complexities, unreliable
insights, and a lack of control.”
Findings from the study include:
Marketers are disproportionately focused on early stages of
the customer life cycle.When asked what objectives marketers
were looking to accomplish with their marketing programs, they were
more likely to respond with upper- funnel objectives, such as
driving customer acquisition (61% of marketers) or awareness
(53% of marketers). Marketers were far less likely to say
they focused their marketing efforts on later stages, where context
comes even more heavily into play.
Marketers perceive technological and data complexities as
inherent to marketing programs aimed at deepening and personalizing
customer relationships. The complexities that marketers cited
as inevitable to meeting their objectives stemmed from technology
and data, and were said to result in the following difficulties
and/or inefficiencies: Over-reliance on vendors/agencies for
driving marketing strategy (37%); difficulty understanding
the relative contribution of marketing channels to conversions
(35%); difficulty translating customer insights into
actionable marketing outcomes (34%); difficulty collecting,
integrating and managing marketing data (32%); and
difficulty operating fast enough to keep up with rapid pace of
interactions and data collection (32%).
Marketers have low expectations of their current
approaches. Eighty-one percent (81%) of participants
said they expected efficiency gains of 10% or less using
current tools and processes for marketing optimization.
Marketers exhibit varying levels of understanding of
AI-driven marketing, but are extremely attracted to the benefits it
promises. Ninety-four percent (94%) of participating
marketers said a tool that provides continuous, autonomous
optimization across channels would be appealing to them, while
91% said a tool that enables their teams to review, analyze,
and act upon customer and marketing data in a continuous and
real-time fashion would be valuable for their organization.
Eighty-eight percent (88%) said that reducing the time spent
on preparing reports and analysis, thereby granting more time for
strategy and focusing on customer interactions, would be
valuable.
Marketers aren’t reluctant to adopting AI-driven marketing
because they’re satisfied with their current approach. Only
6% of participants stated they believed their current tools
and approaches were working sufficiently well. Otherwise, the
reasons they offered for their disinterest in an adopting AI-driven
marketing solution included: Their belief that it would cost too
much (48%); difficulty finding a vendor that fits their
needs (35%); they hadn’t heard or know enough about it
(35%); or their assumptions about the difficulty of
integrating the technology into their current tools and processes
(29%).
This study was conducted between October 2016 and January 2017.
Forrester Consulting surveyed 152 organizations across various
industries including financial services, retail, CPG, travel,
telecommunications and others within the US to evaluate their
perceptions around AI-driven marketing. Survey participants
included decision-makers in a marketing or eBusiness role.
Questions provided to the participants asked about their current
contextual marketing efforts and challenges, as well as their
perceptions of AI-driven marketing.
To request the complete study, visit: http://bit.ly/2kjmQVj
To register for the webinar, wherein guest Forrester Consulting
will present the study’s findings, please visit:
http://bit.ly/2jKytUs
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ABOUT ALBERTAlbert, created by Adgorithms (LSE: ADGO), is
the first-ever fully autonomous artificial intelligence marketing
platform, driving digital marketing campaigns from start to finish
for some of the world’s leading brands. Albert’s mission is to
liberate businesses from the complexities of digital marketing—not
just by replicating their existing efforts, but by executing them
at a pace and scale not previously possible. He serves as a highly
intelligent and sophisticated member of brands’ marketing teams,
wading through mass amounts of data, converting this data into
insights, and autonomously acting on these insights, across
channels, devices and formats, in real time. This eliminates the
manual and time-consuming tasks that currently limit the
effectiveness and results of modern digital advertising and
marketing. Brands such as Harley Davidson, EVISU, Planet Blue,
and Made.com credit Albert with significantly increased
sales, an accelerated path to revenue, the ability to make more
informed investment decisions, and reduced operational costs.
Visit meet.albert.ai
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