Analyzing the impact of algorithms on marketing
Machine learning has become an in thing now. It has been deeply rooted into almost all the facets of business and marketing is not an exception.
AdWeek contributor John Piccone has shared an informative article on how the algorithms have added a scientific twist to the marketing domain.
Piccone says, “Since the advent of digital advertising, machines have been collecting an unfathomable amount of data points about customers and their digital journey. Unfortunately for advertisers, many of these have become media metrics that are masquerading as media measurements. Clicks, likes and swipes (oh my!) as well as other technical metrics have become the de facto supply of inventory for sale. While these metrics are tempting to track due to their familiarity and availability, they should not be used exclusively as proxies for a customer’s interest or intent.
Still, these are the metrics our machines have been programmed to collect, and for too long marketers have been held hostage by them. Now, with the more widespread availability of data that can help marketers sufficiently capture their business problems, they’re beginning to punch back. Adding data to customer data platforms is no longer enough—it has to be the right data, such as identity, product interactions, chat records and service requests. This helps inform marketing decisions, but can also help determine which features get prioritized in the product roadmap”.
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