Programmatic Digital Marketing

     Programmatic Digital Marketing is an advanced and automated digital marketing strategy designed to replace human negotiations with machine learning, which relies on automated and real-time bidding processes that allow companies to reach their target market with hyper-targeted and effective ads by advertising targeted customers in specific contexts. Businesses can reach the target audience who is more likely to be interested in their products or services with programmatic advertising through real-time auctions. Detecting, analysing, and reaching the optimized audience through behaviour-based advertising leads businesses to achieve a higher return on investment and expand their customer base. In 2021, 88% of display marketing in the United States is expected to transform programmatic advertising (Rask, 2021).

How Programmatic Digital Marketing Works?

 

The process starts when someone clicks on a page that is modified for programmatic marketing. After an auction among the advertisers is being put by the marketplace for an open advertising place, the advertiser who bids more for that advertising spot gains the right to display its ads. That allows the advertiser to increase sales and conversions since customers see that ad and make purchases. Although it may seem complex, it is an easy and fast process that takes only milliseconds which means the winner of the advertisement auction can be determined even before the user’s page uploads. Besides, there are several points that need to be considered while embracing programmatic digital marketing:

 

·      Companies should have the understanding and knowledge of not only consumer data but also customer behaviour to achieve successful programmatic advertising.

·      Companies should rely on not both website analytics and survey data that reflects more natural indications while designing programmatic work.

·      Companies should use insights to identify the most effective channels and devices.

·      Companies should use existing customer data to deliver hyper-personalized messages.

·      Companies should track and test the effectiveness of advertisement to make sure where to focus on, considering business objectives and brand metrics.

 

Benefits of Programmatic Digital Marketing 

    Programmatic digital marketing allows companies to focus more on their target market and audience at the right time and in proper context. Programmatic digital marketing enables businesses to save on costs since it helps set the frequency, time, and price of ads and requires payment for only relevant impressions. In addition, it helps companies keep track of their advertisement budget while achieving their set goals since it allows them to have control over ads by providing more flexible options. For example, a telecom company in Qatar, Ooredoo achieved to reduce the acquisition cost to reach their target audience 88% by using programmatic advertising, compared to traditional channels (Fayez, 2016). Lastly, it enables companies to provide a better user experience by promoting tailored advertisements and advanced targeting. There numerous brands that achieved building successful ads by embracing programmatic campaigns based on consumer data, such as O2, The Economist, Turner Sports, Audi, ScS, and Amanda Foundation (Keane, 2018). Regardless of the industry type, sector, or size of the company, programmatic digital marketing can be embraced to increase sales, conversions or drive awareness.

Buket Bostanci

Keywords: programmatic digital marketing, programmatic advertising, target market, target audience, personalised advertisement

References & Sources

 

Al Fayez, N., 2016. What is Programmatic and Why is Everyone Talking about it? [online] Think with Google. Available at: https://www.thinkwithgoogle.com/intl/en-145/marketing-strategies/programmatic/what-programmatic-and-why-everyone-talking-about-it/ [Accessed 13 April 2021].

 

Rask, O., 2021. What is Programmatic Advertising? The Must-Have 2021 Guide. [online] The Match2One Blog. Available at: https://www.match2one.com/blog/what-is-programmatic-advertising/ [Accessed 13 April 2021].

 

Keane, L., 2018. Programmatic Ad Buying: 6 Examples of Brands Getting it Right. [online] GWI. Available at: https://blog.globalwebindex.com/marketing/programmatic-ad-buying/ [Accessed 13 April 2021].

Emerging Technologies

    Emerging technologies can be considered the type of technologies that are still in the development stage or the new technologies existing out in front.  Although all new technologies may not pass the testing or development stage, the ones that can pass may transform the lives of people and, finally the world (Williams, 2017). Evolving technologies not only bring new opportunities and practical applications for tech firms in terms of generating new business, revenue, and improving customer experience, but also improve the quality of people’s lives in numerous aspects such as efficiency, safety, health, environmental conservation, and so on.

The Emerging Technology Community has released the list of Top 10 Emerging Technologies for 2020, considering the research on the technology landscape and the marketplace’s assessment (Fitzgerald, 2020).  The list includes:

 

1.     Artificial Intelligence

2.     5G

3.     Internet of Things

4.     Serverless Computing

5.     Biometrics

6.     Augmented Reality / Virtual Reality

7.     Blockchain

8.     Robotics

9.     Natural Language Processing

10.  Quantum Computing

 

What are The Emerging Technologies?

 

Artificial Intelligence: Being used in the daily lives of many people and was adopted by numerous industries, AI refers to systems, machines, and algorithms that mimic behaviour associated with human intelligence such as perception, learning, planning, reasoning, and decision-making.

5G: Fifth-generation wireless (5G) refers to the cellular technology designed to increase the speed of wireless networks and provide connectivity of multiple devices.

Internet of Things: IoT refers to the significant number of connected physical devices that collect and share data over wireless networks.

Serverless Computing: Serverless refers to a cloud-based execution model that eliminates the need for managing servers to run applications.

Biometrics: It refers to the process in which unique physical traits of people are being detected and used to verify their identity.

 

Benefits of Emerging Technologies in The Supply Chain 

 Integrating emerging technologies like artificial intelligence, the internet of things, virtual reality, blockchain, etc., in supply chains and embracing the transformations is crucial for businesses’ futures and values since they allow companies to save on time and costs by improving business processes. There are several examples of how emerging technologies may benefit the supply chain in preparing companies for the future. (Chorley, 2018).

 

·      Contributing to the real-time problem-solving performance of companies by predicting and preventing potential problems and malfunctions.

·      Improving the customer service and reducing the cost to serve by connecting the digital thread by leveraging information gathered from emerging technologies like the Internet of Things or Big Data.

·      Allowing companies to monitor and interfere with the processes, changes, and the supply chain not only remotely and globally by the use of cloud-based emerging technologies but also autonomously by the use of artificial intelligence in decision making.

·      Training and preparing supply chain workers using Virtual Reality to provide better practices, realistic experience, and remote training.

·      Helping companies manage supply chain related crises easily by tracing failures, offering correct balances, and providing complete transparency in the product information.

·      Transform the way that supply chains are being operated by the use of IoT-based inventory, asset, or order management systems that consider sustainability and green initiatives.

Buket Bostanci

 

Keywords: emerging technologies, artificial intelligence, machine learning, digital transformation, supply chain, IoT

References & Sources

 

Williams, O., 2017. The Advantages of Emerging Technology. [online] bizfluent. Available at: https://bizfluent.com/info-8427727-advantages-emerging-technology.html [Accessed 3 April 2021].

Chorley, J., 2018. 6 Benefits of Emerging Technologies in the Modern Supply Chain. [online] EBN. Available at: https://www.ebnonline.com/6-benefits-of-emerging-technologies-in-the-modern-supply-chain/ [Accessed 3 April 2021]

Fitzgerald, L., 2020. 10 Emerging Technologies Making an Impact in 2020. [online] Available at: https://connect.comptia.org/blog/emerging-technologies-impact-2020 [Accessed 3 April 2021]

Emerging Technology: Revolutionizing the Customer Experience with Artificial Intelligence

Artificial Intelligence (AI) is ubiquitous, and it has accelerated with the digitalization of processes and activities among many organizations by increasing their capabilities. In terms of corporate language, chatbots technology is a part of human-robot interactions, which offers various opportunities and support firms to discover better insights and provides a better platform for sound decision making. (Luce, 2018) Nowadays, facing challenges and risks are pretty standard in business, both internally and externally. To compete in a new era, firms create a good relationship between customers by providing an efficient service in terms of verbal or physical depending on the affordable product. Focussing on improving customer experience, continual advancements in technology are incorporated to provide better response time and increased quality of interaction (Delamater, 2017). A chatbot can identify consumer needs quickly once when they started interacting with AI-powered bots and proactively start a conversation with them by providing relevant information throughout the entire chats. It can transfer a caller to a service agent if a human is necessary for the loop.
AI algorithms can search through each customer's buying habits, including what they purchased and when they made the purchase. AI improves the shopping experience by making product recommendations based on what the customers are interested in and most likely to buy. AI-enabled chatbots can provide the customers with consistently pleasant customer service and an immediate response instead of being put into a queue to wait for an available support representative. They were making the process of communication as easy and pleasant as possible leads to satisfy customers while at the same time freeing up organizations employees so they can focus their energy and time on other tasks. Consumers today are looking for convenience when it comes to shopping and making payments. 

Using smart speakers such as Echo and Alexa, consumers can make purchases and pay their bills with voice-enabled AI, interacting with any business at a time that's best for them. Sometimes customers want their questions answered after business hours, or they may want to update an order before the business opens the next day. For a small business, hiring employees to be available at all hours is unrealistic and costly. Using AI chatbots can give marketers customers the service they want regardless of what time it is. AI creates a shopping experience that's hassle-free and simple to interact with customers. Consumers are looking for fast and easy interactions when making purchases. AI makes buying smooth and easy, from deciding what product to buy to complete the transaction with fast shipping and delivery.

In the past, phone bots have been automated with limited functionality, usually providing one-word answers and simple directions to consumers. This type of simplicity in business communication can quickly lead to customer frustration. Today's AI phone bots are intelligent and helpful, solving problems and answering questions efficiently and precisely. This means that when customers call the business, they are getting accurate responses to their questions with valuable and intelligent voice interaction (Muhammadian, 2020).

The chatbot is a conversational agent that reproduces the conversation with customers, usually over the internet. They communicate with human users, especially the end-users, through messages via texts and reply accordingly. Even though the technological concept of interacting with the customers is not new, the design of chatbots was made by considering various assumptions. The artificial intelligence developed in the past tends to answer one-liner questions and could not answer any other conversation with the users. Firstly, the chatbot was designed to have limited domain knowledge as one can talk about any topic with the customers (Luce, 2018). Chatbots are designed to focus on specific issues. By the end of every conversation, the customers want to achieve a particular result. This will have an impact on the flow of the conversation. The designers of chatbots can exploit this as some behavioral patterns will arise as a result. 

By 2010, various assistants like Apple, Siri, Cortana, and Alexa came into the market that dealt with a dual conversation with a goal-oriented dialogue. The release of messenger for Facebook is another breakthrough and allowed the agents to discuss non-AI-related companies (Campione, 2021). Chatbots include working with multiple components. When chatbots are receiving a new message, the language identification module will first process the message. The new message and its language, along with any previous conversation, will be retrieved and fed into the classifier module, which will imply the message the user is trying to convey. This will then be used to decide the action sequence. For example, the chatbot reply will be in the form of whether the message is not clear. The proper execution of the situation happens with the module known as an action handler.

Damanvir Kaushal

Keywords

#Emerging Technology

#Customer Service

#Artificial Intelligence

#Conversational Service Automation

References

Campione, R., 2021. HOW DIGITALIZATION IS REVOLUTIONIZING RELATIONSHIPS BETWEEN CUSTOMERS AND SERVICE PROVIDERS IN THE HOSPITALITY INDUSTRY: PERSONALIZATION AND GAMIFICATION. International Journal of Information, Business and Management, 13(1), pp.35-52.

Delamater, N., 2017. A brief history of artificial intelligence and how it’s revolutionizing customer service today. Available in https://images. g2crowd. com/uploads/attachment/file/73099/expirable-direct-uploads_2F469f2619-a917-446d-b2b8-14cf8f8 d2c4e_2FChatBotWhitePaper2017. pdf Disponible el, 17.

Luce, L., 2018. Artificial intelligence for fashion: How AI is revolutionizing the fashion industry. Apress.

Muhammadian, R., 2020. Artificial intelligence in marketing. How AI is Revolutionizing Digital Marketing.