Like every other industry, marketing has been on a decades-long journey of change driven by constant advancements in data management, analytics and technology, along with external influences such as privacy legislation, market fluctuations, consumer trends and social sentiment (not to mention a global pandemic). But I think the next era of transformation in marketing will be like no other, with technologies like machine learning (ML) and artificial intelligence (AI) playing a more prominent role than ever before. With new technologies come elevated restraints and the need for moral metrics.
Today’s shifts revolve around the clear truth that consumers have raised the bar by controlling their relationship with brands and determining their own levels of engagement. And every business survives and thrives based on its command of the customer experience. I’ve found that consumers demand relevance, convenience, memorability and consistency in every moment of interaction with a brand, no matter the channel they’re using. And they demand trust and transparency—with consent playing a much bigger role in the exchange of personal information. The sum of these parts ultimately helps determine customer loyalty.
Our increasingly contextual world means that insight goes far beyond demographic and behavioral data. It’s a wider universe where there are exponentially more signals to round out a customer view. Data is consumer currency, and experience is the builder of trust, so you should know who your customers are and use the infinitely available data to anticipate and meet their needs. This requires a delicate balance between engaging smart, predictive technologies, such as ML and AI, and honoring the ethical standards that build trust between brands and customers.
Continue reading:
https://www.forbes.com/sites/forbescommunicationscouncil/2022/08/17/the-role-of-ethics-in-the-evolving-world-of-marketing-ai/?sh=564f002c2e97
Today’s shifts revolve around the clear truth that consumers have raised the bar by controlling their relationship with brands and determining their own levels of engagement. And every business survives and thrives based on its command of the customer experience. I’ve found that consumers demand relevance, convenience, memorability and consistency in every moment of interaction with a brand, no matter the channel they’re using. And they demand trust and transparency—with consent playing a much bigger role in the exchange of personal information. The sum of these parts ultimately helps determine customer loyalty.
Our increasingly contextual world means that insight goes far beyond demographic and behavioral data. It’s a wider universe where there are exponentially more signals to round out a customer view. Data is consumer currency, and experience is the builder of trust, so you should know who your customers are and use the infinitely available data to anticipate and meet their needs. This requires a delicate balance between engaging smart, predictive technologies, such as ML and AI, and honoring the ethical standards that build trust between brands and customers.
Continue reading:
https://www.forbes.com/sites/forbescommunicationscouncil/2022/08/17/the-role-of-ethics-in-the-evolving-world-of-marketing-ai/?sh=564f002c2e97
