Back in the old days, marketing appeared to be far more complicated, as finding customers’ needs was possible only with questionnaires, focused groups, and so on. Fortunately, now more than ever – finding your customer’s needs couldn’t be easier. All through the employment of cognitive marketing.
Cognitive Marketing Works Hard
Marketing is attempting to identify a customer’s need, present a relevant solution, in a location the customer will find it.. Customers enter our businesses because they need solutions– in other words, they expect that our services or tangible items will solve their needs.
More often than not, they want to ensure if their dollars are worth spending. The challenge for marketers today is to get to know them, as much as possible.
Cognitive technology (a kind of an Artificial Intelligence) tirelessly analyses consumer information, regardless of how complicated or small it is, to understand their needs and preferences.
Even more, through algorithms and deep learning, it assists marketers to foresee the future trends and optimizes the business’s strategies.
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IBM’s Watson
Watson is the latest marketing technology from IBM. Here is the video of Melanie demonstrating how Watson assists her project:
In this video, Melanie was told to create an advertisement regarding a commuter bike event. She described her target audience and other relevant information to Watson, and then the system promptly responded with the complete list of recommendations.
This included everything that might be useful for the campaign. Moreover, it took some other factors, such as weather, into account then suggested more choices. This is really a transformative experience for marketers, as well as businesses everywhere.
How Watson Is Employed
1) 1–800–Flowers.com
1–800–Flowers.com has launched a digital marketing that encourages customers to customize their flowers. This movement is paying off, as the annual revenue if the company increased by 48.3% in 2015.
2) Advertisements on Facebook Using Algorithm
The algorithm on Facebook will display ads to you based upon numerous different factors. What your interests are on Facebook, what you tend to engage with, what websites you have been visiting etc.
For instance, I have been looking at flights recently and due to that I am seeing a major increase in the number and frequency of travel agency ads that I am seeing. Test it out now, go to your Facebook feed and see what ads are appearing for you.
Final thoughts
The effect of this kind of technology is that the marketing trend is shifting. Many positions in a marketing agency will become far less important.
Undoubtedly, effective marketing experts in the future must be able to cooperate well with cognitive marketing and the technology around it. More importantly, this technology is gaining more and more attention from companies across the globe.
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