2023’s AI Evolution
Artificial Intelligence has been a constant area of focus for our agency at Net Conversion, especially over this past year where a lot has changed in terms of the AI marketing landscape. We have been staying on top of it since our last blog back in May, and are back with another update on all the ways Net Conversion is leveraging AI for our partners.
Where We Left Off
AI has become a more familiar and comfortable topic of conversation for many this past year. We’ve seen it seamlessly integrated across virtually all marketing and technology platforms, marking a significant shift from the skepticism that prevailed as we entered 2023. Supporting this, 88% of businesses are already using some form of AI in their marketing efforts this year, and more than half (54%) expect to spend even more on AI-powered campaigns in the coming year. For years, Net Conversion has taken pride in using automation to power insights and allow our analysts to spend their time on tasks that matter to our partners, but as AI continues to revolutionize the industry, our usage continues to evolve as well.
New AI Unveilings
In the past, our analysts have partnered with AI for data-driven strategies, real-time optimizations based on machine learning and, creative creation and implementation using AI products such as Google’s Creative Studio.
Machine Learning Driven Campaigns:
- Performance Max: Performance Max is a Google Ad campaign type that combines the best parts of smart campaigns with responsive ads and allows advertisers to create a single campaign that reaches all the different types of people who are looking to buy. The intuitive campaign can be displayed across all Google channels such as YouTube, Display, Search, Discover, Gmail, and Maps. Check out our recent case study here.
- Google Demand Gen: Google is leaning into campaign consolidation and letting the AI driven machine learning algorithms lead the charge in finding the right customer at the right time, with the right creative. The new campaign builder within the interface makes it easier than ever to allow top-performing images and video assets to run across all available Google inventory. The main difference between Demand Gen and PMax is that Pmax is centered on capturing lower-funnel opportunities while Demand Gen will focus on creating demand as a more upper-funnel approach.
- Machine Learning Creative Model: Our advanced analytics team creates a creative measurement tool to assess all aspects of your creative and assess each component’s true contribution to performance. Read more about our decision tree-based model here.
- AI Creative in Google Ads: By using Google’s Video Creation Tool, we were able to leverage automation and fill gaps in the ad serving process to minimize creative fatigue for our partners. Check out our recent case study here.
- Tiktok Creative Assistant: TikTok introduced an AI-powered virtual assistant to aid brands and creators by offering guidance, examples, and ad script generation to help marketers create effective content for TikTok.
AI Bidding, You Can’t Beat The System:
- Value-based Bidding: By leveraging our custom metrics (ViV and eViV) along other metrics, we’re able to optimize our bids to achieve more value rather than conversion and optimize in real-time our campaigns. Check out our recent case study here.
- Microsoft Audience Ads Announces New AI Bid Strategies: Target your ideal audience based on Microsoft’s understanding of people’s interests and consumer intent signals with their two new automated bid strategies: Maximize conversions and Target CPA.
AI Landscape Headed Into 2024
It is without a doubt that artificial intelligence is more ingrained in our technology today than it was this time last year.
As an analytics-first, data obsessed agency, we truly believe that if your business is not harnessing the power of AI to create better efficiencies, you better believe that someone else in your industry or a competitor will. As seen above, AI is becoming more efficient, and allowing us to create more complex strategies, analysis and tools to better our
It is becoming so widely adopted to that point that is becoming standardized, as more and more platforms roll out AI driven features, marketers will soon turn their noses up at having to constantly, and manually, input optimizations or changes.