The technological revolution happening in marketing right now is a massive game-changer. The ones that will suffer are companies locked up in old business models and the ones that really on their brand to stay on top of the game. The fact is that today any company can reach any customer, done right any company is able to disrupt any and every existing relationship and network.
Artificial intelligence is a game-changer when it comes to marketing.
Artificial intelligence will predict your customer’s future needs. By compiling a vast amount of data on individuals AI will be able to foresee, to quote Sting, “every step you take and every move you make” thus knowing every need you have.
Artificial intelligence will predict new segments for your services. Because of the vast amount of data, AI knows literally every other segment in the world and will successfully predict which one is most likely to be attracted to your services.
Artificial intelligence is ineffective due to public regulations. This is the major short term obstacle for any implementation of AI in marketing. Regulations on how to gather and how to store data are one part of it. The other part is legislation who hinders the implementation of AI in companies due to workforce needs and such.
Although governments are introducing legislation left and right to hinder the development of AI. It’s likely that it won’t be very effective. The development in AI is accelerating at such speeds that it is hard to envision a scenario where any government can get on the front foot again.
Machine learning is a game-changer when it comes to marketing.
Machine learning can identify potential customers by mirroring existing customers. You don’t have to do any general marketing campaigns again. If you know what identifies a segment of your customers, then machine learning can identify anyone with the same traits.
Machine learning can predict target customers in new markets. It is the same here when you know the traits that define a segment. It can most likely be multiplied into any other market which has a similar segment.
Ethics makes the use of machine learning less efficient. First and foremost because public regulators (in the west) wants equality in opportunity for its inhabitants. So most public machine learning algorithms, such as Facebook, Google or Twitter, won’t allow any given combination of identifying traits. So traits relating to anything that can be defined as discriminatory will be deemed illegal. Hence making the algorithms less efficient.
The introduction of ethics is a marketing limitation, but nothing more. Although Facebook and the larger public platforms have introduced such measures, many of the really rich, big and private companies are making their own, usually defined as risk models, the “know-how” about the different segments will eventually mix with the more public algorithms.
Blockchain is a game-changer when it comes to marketing.
Blockchain reduces the impact of brand recognition. The technology behind blockchain has the potential to be the absolute game-changer that renders tributes, critics or brand value, completely indifferent. By registering absolutely every transaction done by the company and every participant’s point of view. The customer can do a completely unbiased choice concerning who to buy from.
Blockchain can contribute to perfectitude your services. As mentioned earlier, registering every transaction and every point of view in every transaction. You and your company can perfect every aspect of your service, from communication to the service itself.
Blockchain is not there yet, and it is actually quite far from it.
Although blockchain is far from the finished product, it’s getting there. The data is already accumulating and in a digital world where most people are experiencing data overload. Blockchain is the best way to catalog it in informative chains. And to see how information intervenes and affect other chains.