AI and ads: The future of selling
Understanding human behaviour has always been crucial to sales but until recently, it’s been more theory than fact. Now, artificial intelligence is helping humans to truly ‘get’ consumers. CEO of audience intelligence platform, LUMOS Intelligence, Eric Fan, dissects how AI and data are revolutionising the way media agencies and marketers engage with Aussies.
Imagine you’re walking down a busy street and you see a billboard for a handbag. Instantly, your anonymised data is being shared with advertisers who have your consent to learn more about your preferences.
We know you don’t like irrelevant ads and prefer personalised engagement, so utilising AI and advanced data analysis, we predict and determine your interests in brands, products, and lifestyle. We then serve you a personalised digital ad about that very handbag with an exclusive discount only available to you. You’re redirected to a checkout page with ease, thrilled about your personalised shopping experience.
In the rapidly evolving world of marketing, AI is not just a buzzword – it’s a game changer, enhancing the precision of targeted campaigns and reshaping the creative process in profound ways.
At the core of this revolution is the ability of AI to process and analyse vast amounts of data with unprecedented speed and accuracy. Traditional methods of audience analysis, often limited by time and resources, are now being supplanted by AI-driven techniques that can quickly sift through billions of data points.
This capability allows marketers to uncover detailed consumer profiles that were previously out of reach. From which sports team you’re devoted to, to your favourite brands, local shopping centres and even your most recent travel destinations.
Imagine knowing that your target audience enjoys luxury travel. You could integrate travel-related themes into your ad creative, such as picturesque destinations, experiences, or luxury travel accessories. This level of personalisation makes the advertising more relevant and engaging, ultimately driving better results.
As privacy regulations become more stringent, brands must pivot towards leveraging their first-party data to achieve effective marketing outcomes. First-party data, collected directly from consumers through interactions with the brand, is a goldmine of insights. Utilising this data allows brands to maintain compliance with privacy laws while still gaining deep, actionable insights into consumer behaviour.
So, what’s next for AI? At LUMOS, we’re building a Marketing AI Agent solution. This cutting-edge technology allows marketers to upload their media briefs directly to our platform, where an AI agent analyses the requirements and automatically generates the most effective campaigns. The AI agent selects the most suitable media inventories and crafts tailored campaigns that resonate with the target audience.
The advertising, marketing, and media industries are starting to adopt AI, but there’s still significant potential for growth. Fear of the unknown, along with data privacy and security concerns, often hinders adoption. However, with proper regulations and ethical practices, these fears can be eased.
The future of marketing is here and it’s powered by AI.
Embrace it and lead in innovation.
Dismiss it and you’ll be left behind.
Eric Fan is CEO of LUMOS.
