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How is Machine Learning Affecting Advertising and Marketing?

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How is Machine Learning Affecting Advertising and Marketing?

Machine learning is transforming advertising and marketing by segmenting and targeting specific audiences with relevant messages.

The use of machine learning in marketing parallels that of its use in news media. Publishers as varied as the Washington Post & Reuters and even smaller publishers regularly use machine learning tools to produce copy around financial and sports results, leaving journalists more time to get on with analysis that really adds value to their consumers.

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Source: Smarty Ads

Advertisers and marketers can use machine learning to create more personalized experiences, target the right audience, reduce costs, and make faster decisions. 

1. Advanced Customer Profiling

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Source: Datafloq

Knowing your target audience and understanding their needs, interests, and preferences is essential for the success of your digital marketing efforts.

Having an accurately defined ideal customer profile and buyer personas lets you segment your email and content marketing and personalise your marketing messaging and content.

In advertising, as in other industries, machine learning is focused on using algorithms to ‘mimic’ human intelligence by programming them to think and respond in the same way humans do.

AI-powered chatbots are changing the customer support landscape tremendously. 

As an example, Alexa is using machine learning to make predictions on its own about what your words mean, how to respond to them, and what action you’re requesting.

Alexa is not being programmed explicitly to get better after each user’s query. Instead, Alexa is using data from each interaction with users to improve its interactions with the next one.

2. Increasing Loyalty & Retention

It’s crucial to offer your prospects answers to any questions they might have regarding your product or services as that can be a make-or-break factor to purchase. Similarly, once they decide to opt for your product, they’d like to start using it right away. Meaning they’ll be frustrated if they don’t understand how a certain feature works.

Effective machine learning solutions provide marketers with a central platform for managing large amounts of data. These platforms can derive insightful marketing intelligence about your target audience making it easier to make data-driven decisions.

Machine learning technology can help to create more effective, insightful and target consumer-specific ads and campaigns through big data marketing. Data collected from keyword searches, general online activity and social media profiles can be utilized to develop a smarter marketing strategy.

3. Saving Costs with Dynamic Pricing

As machine learning is able to quickly process data, it can save a lot of time when prospecting–shortening the sales funnel. The ability to adapt to the user’s behavior and store and interpret large amounts of data saves marketers a ton of time and effort compared to doing research manually.

Machine learning can be used to set the price of products dynamically depending on demand, availability, customer profiles, and other factors to maximize both sales and profits.

If you’ve ever searched for a flight and then gone back to buy it a couple of days later only to find it’s gone up a few hundred dollars, this is also a good example of dynamic pricing at work.

4. Better SEO & PPC with Micro-Segmentation

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Source: Datafloq

Machine learning helps businesses expedite the process and enhance the accuracy of keyword research, SEO, PPC, competitor analysis, search intent research, and more.

SEO and PPC as being two sides of the same coin: search. The most obvious benefit of combining SEO and PPC efforts is added exposure on the search engine results pages (SERPs).

Machine learning divides a large, diverse group into smaller segments with similar needs, wants, and preferences. This allows companies to target customers with personalized keywords, messaging and offers.

With machine learning micro-segmentation technology, businesses can send highly relevant messages to their audience based on their specific interests and needs. This increases response rates significantly and helps you build stronger relationships with customers over time.

5. Predicting Future Trends

Predicting the future has always been a crapshoot for organizations. That’s why marketing and advertising budgets are often so large: Organizations are hedging their bets and throwing a lot of resources at the problem of figuring out what consumers want next. If a company can accurately predict people’s wants and needs, it can create products that will be highly successful, and that means more money for everyone involved.

Machine learning is taking over this role of predicting the future and doing a better job than humans. When companies use machine learning, they can analyze massive amounts of data much faster than anyone. Predictive algorithms give marketers and advertisers insights into what’s coming next based on trends they see in the market. They can make informed decisions about their marketing campaigns now that they’ve been given a crystal ball into the future.

Conclusion

By embracing machine learning incorporating it into your digital marketing and advertising strategy, you can target your consumer audience with much more precision, and engage your audience more effectively. 

Machine learning allows advertisers and marketers to identify target customers, curate marketing content, create marketing strategies and regulate dynamic pricing based on customer behavioral patterns


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Vodafone Ireland turns to Amdocs to drive enhanced customer experience

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Duncan is an award-winning editor with more than 20 years experience in journalism. Having launched his tech journalism career as editor of Arabian Computer News in Dubai, he has since edited an array of tech and digital marketing publications, including Computer Business Review, TechWeekEurope, Figaro Digital, Digit and Marketing Gazette.


Vodafone Ireland has chosen Amdocs, a provider of software and services to communications and media companies, to transition its infrastructure and application workloads to the cloud, enabling an enhanced customer experience and rapid adoption of the latest 5G innovations.

Under the agreement, Amdocs Customer Experience Suite (CES) will migrate from Vodafone Ireland on-premise to the cloud, providing the Irish operator with greater flexibility and capacity to support its future growth.  

Mairead Cullen, CIO at Vodafone Ireland, said: “Moving to the cloud is a key part of our strategy as we look to become even more dynamic, agile and responsive to our customers’ needs. We have a long-standing relationship with Amdocs and we’re pleased to be collaborating with them on this important initiative.”

Anthony Goonetilleke, group president of technology and head of strategy at Amdocs, said: “By migrating its IT services infrastructure to the cloud, Vodafone Ireland can ensure it has the foundations in place to achieve growth and further enhance the experience of its customers.

“We are excited to be taking such a central role in the company’s cloud strategy.”

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and London.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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How to Align Data and Analytics Governance with Business Outcomes

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How to Align Data and Analytics Governance with Business Outcomes

With access to large amounts of data made available to businesses, maintaining and governing the kind of data that is accessible to users have become significantly essential.

Proper data and analytics governance in organizations can help them in achieving on-point data and analytics processes.

The use of data and analytics is increasing across practically all industries. Due to the availability of inexpensive storage alternatives, organizations have access to more data. It’s not surprising that the usage of analytics due to access to extensive data has expanded to every part of the company when you take into account the growing number of user-friendly tools for managing, retrieving, and analyzing data. 

However, a lot of effort goes into managing data and analytics. Thus, organizations must ensure that their efforts are aligned with their business priorities, and the data is accurate in nature and thoroughly secured. Without analytics governance, even if the organization has a good hold on its data governance policies, the advantages of establishing policies and processes to govern the analytics process still stand. As data governance guarantees your business has processes and standards around the use of data, analytics governance provides the same level of oversight to the way analytics initiatives are built and delivered.

Aligning Data and Analytics Governance

Data and analytics governance initiatives must be closely related to organizational strategies. However, businesses frequently base their data and analytics governance processes on data rather than the business. Here are a few points on how businesses can align their data and analytics governance with their business outcomes.

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Trusted Governance

Forming business decisions based on the notion that “all data is equal” is no longer a sound strategy because data and analytics capabilities exist across a company and differ in nature. Instead, create a paradigm of trust-based governance that allows for a dispersed data and analytics ecosystem and is able to help business executives make decisions that are more confidently appropriate to the circumstances.

Digitization

With the essence of developing technology, digitization has taken over almost every business to stay relevant in the market. However, for businesses to gain the best outcomes from the digital space, digitization is essential. And for successful digitization, data and analytics governance must function based on factors like digital ethics and transparency. Therefore, ensuring that the values and concepts of digitization are reflected in the data and analytics governance is crucial to significantly align it with business outcomes.

Data Security

Today, organizations are aware of the potential risks associated with their businesses and securing data has become a necessity. This awareness implies that they address both the threats and the possibilities brought about by data and analytics. Organizations frequently manage risk and market potential independently, and they also do not really prioritize information security when assessing business results. Therefore, data and analytics governance authorities should have interdisciplinary teams capable of making decisions that are well-balanced, giving risk, opportunities, and security the appropriate weight while considering the organizations’ future interests in mind.

 

Today, businesses are aware of the fact that without effective data and analytics governance, their initiatives and investments in data and analytics won’t be able to satisfy important organizational goals like increased revenue, cost reduction, and improved customer experiences. Therefore, aligning it with business outcomes is critical for business success.

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IBM launches new way to partner through IBM Partner Plus

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IBM has developed IBM Partner Plus, a new program that reimagines how IBM engages with its business partners through unprecedented access to IBM resources, incentives, and tailored support to deepen their technical expertise and help speed time to market.

The program is designed to fuel growth for new and existing partners, including resellers, hyperscalers, technology providers, independent software vendors and systems integrators, by putting them in control of their earning potential. IBM Partner Plus is central to the company’s Hybrid Cloud and AI strategy and aims to empower partners to help clients automate, secure and modernize their businesses.

IBM Partner Plus offers partners a transparent, simple and modern experience. By growing technical expertise and demonstrating sales success, participants can progress to three tiers – Silver, Gold and Platinum – which unlock specialized financial, go-to-market support and education benefits. In the new program, badging will become the standardized measure of skills and validated solutions will demonstrate expertise. The enhanced IBM Partner Portal consolidates and tracks all expertise, revenue, and deals globally, offering each partner a clear line-of-site into their progression through the program.

“IBM Partner Plus introduces a new way for IBM to deliver value to new and existing partners by helping them gain skills, grow faster and earn more,” said Kate Woolley, GM, IBM Ecosystem. “We’ve heard from partners that they want a simplified experience that helps them win with clients. I’m confident these changes and our continued investment in our ecosystem will make IBM the partner of choice across the industry, and together we can drive growth for partners, clients, and IBM.”

IBM Partner Plus results from the company’s journey to put partners at the centre of IBM’s go-to-market strategy and act as a growth engine to help capture the $1 trillion hybrid cloud and AI market opportunities. IBM has invested in elevating the role of partners and accelerating partner-led sales by enabling the ecosystem to become a preferred route to market, offering clients an optimal mix of technology, services, and consulting expertise. To drive continued growth, IBM will increase its capacity to support partners by doubling the number of partner-facing brand and technical specialists to help them prospect and win additional client business.

“The new IBM Partner Plus program provides an enhanced experience that sets our company up for success by offering employees access to skills and opportunities, so we can help more clients utilise IBM’s technology portfolio to modernise their operations,” said Bo Gebbie, President, Evolving Solutions. “IBM is more serious than ever about putting partners first. They’ve listened to our feedback, and it is reflected in the new partner experience that makes it easy for us to collaborate, rewards our investments and fuel growth.”

IBM Partner Plus brings all partner types and programs together – whether they sell, build on or with, and/or provide services for IBM technology – into one integrated ecosystem. For example, to help broaden the market opportunity and create new revenue streams for its ecosystem, IBM recently enabled partners in North America to resell IBM products through other cloud marketplaces. This allows for independent software vendors to embed IBM Software from partner marketplaces into their own solutions. All partner sales through the marketplace accumulate towards their progression in IBM Partner Plus. 

Competitive incentives

Partners can advance through tiers to unlock benefits and demand generation programs which could offer them up to a threefold increase in total investment from IBM. The IBM Partner Portal gives partners real-time visibility into the incentives they are eligible for, predictability into potential earnings, and includes an automated deal share engine that helps them surface quality leads. This has improved deal registration and introduced partners to more than 7,000 potential deals valued at over half a billion dollars globally.*  IBM investments in co-marketing campaigns and co-sell support with partners can also help bring solutions to market and generate demand.

Insider access

IBM Partner Plus builds on the successful release of its October badging and selling enablement materials to partners, which has driven more than 15,000 partner enrollments in sales and technical badges. Offering partners the training, enablement, and experiential selling resources available to IBMers at no cost can help better equip them to win with clients. Additionally, access to IBM’s seller tools can help them generate competitive and transparent pricing. Partners can also attend IBM’s quarterly Sales Kickoffs together with IBM sellers, and participate in live training sessions and other global technical advocacy events to help upskill, increase eminence, and engage with technical experts. For new partners, IBM is launching the IBM New Partner Accelerator, which provides onboarding, training, and other benefits during their first six months in the program to help accelerate their path to profitability.

Enhanced support and benefits

Partners can grow skills, develop solutions, and build sales expertise with technologies like AI, security, and cloud on an open hybrid cloud platform by leveraging technical experts from IBM. IBM will also assist partners in the development of minimal viable products, proofs of concept, and custom demos to help them win client business and accelerate growth. In addition, as partner businesses grow with IBM, they can unlock additional benefits designed to help them expand capabilities and find new clients.

PartnerWorld will transition to a new IBM Partner Plus experience on January 4, 2023, with the new incentive program taking effect on April 1, 2023. Registered PartnerWorld members will maintain their current tier through July 1, 2023 and can progress to the new tiering system during this time as they meet criteria.

Want to learn more about cybersecurity and the cloud from industry leaders? Check out Cyber Security & Cloud Expo taking place in Amsterdam, California, and London.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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