Hawke Media CEO Erik Huberman has noticed a big upsurge in the interest of AI in marketing. It isn’t surprising. AI is rapidly changing all aspects of business, including marketing, but even seasoned marketers aren’t always sure how or where to incorporate AI into their practices.
Case in point: When Deloitte surveyed 1,000 executives, 63% admitted their organizations weren’t leveraging data insights to their fullest. And 67% said they were uncomfortable finding and using data in general. Fortunately, most seemed to realize that they had to make changes—including the adoption of AI.
We asked Erik what he sees on the horizon for AI in marketing, AI business trends he’s seeing, and how those trends are helping marketers.
Grit Daily: To start, can you share a little about how AI is revolutionizing the marketing space?
Erik Huberman: AI technology can be seen in almost every aspect of an effective marketing campaign, from customer segmentation and product advertisements to consumer interactive experiences. It’s become the leading tool for launching innovative products and campaigns. After all, AI allows businesses to target their customers more precisely and efficiently by understanding their interests and values.
Grit Daily: What are some of the specific benefits AI brings to marketing teams, processes, and initiatives?
Erik Huberman: It’s all about speed, automation, and efficiency. AI has the potential to make decisions at a much faster rate than humanly possible, allowing marketers to take advantage of data analysis with unprecedented accuracy.
With the advancements in AI, businesses can deliver innovative and personalized experiences to their customer base. This enables those companies to enhance the customer experience and target key marketing messages more effectively, leading to better customer engagement and potentially higher customer satisfaction and loyalty.
Grit Daily: Do you think some businesses are holding back from investing in AI due to economic reasons?
Erik Huberman: Maybe, but the economy is expected to thrive in the first half of 2023. Certainly, 2022’s instability had a major impact on customer spending. At the same time, marketers faced challenges due to changes such as iOS tracking updates that reduced visibility into paid social ads ROI.
Yet despite this disruption and media frenzy around economic downturns, customers still spent money when value was present. This was evidenced by holiday season year-over-year sales increases averaging 16%.
Currently, interest rates are expected to stop rising by Q2 2023, which will result in increased consumer confidence throughout the remainder of the year. In other words, businesses should take advantage now by setting up systems that utilize AI to best track conversions and attributions and refine their marketing strategies.
Grit Daily: What if a business or marketing department is on a limited budget? Is AI out of reach?
Erik Huberman: Not at all. There are many affordable, powerful AI options available. And by taking advantage of those AI solutions, small businesses can unlock growth potential and gain access to data-driven insights that might once have been inaccessible due to financial constraints. From automated marketing solutions to personalized customer experiences and more, leveraging AI technology can provide invaluable benefits for entrepreneurs of all sizes and budgets.
Grit Daily: Hawke Media offers an AI-based marketing tool, Hawke AI. What is it and how does it work?
Erik Huberman: Hawke AI functions as an AI-driven platform that guides marketers through personalized customer journeys with live interaction and data-driven user engagement technology. Hawke AI provides marketers with an unprecedented opportunity to apply AI to their marketing campaigns by making it easier and faster for marketers to get more done with fewer resources.
By leveraging the real-time predictive analysis and machine learning capabilities of Hawke AI, companies can accurately assess customer behavior and deliver personalized content thanks to advanced segmentation capabilities and superior data processing power.
Grit Daily: Do you have any advice for business leaders, entrepreneurs, or marketers just getting started with AI in their marketing efforts?
Erik Huberman: My advice is to assess your company’s active digital strategies. It’s important to understand the use of tools already in place, as new technologies like Hawke AI should integrate into the existing tactics.
For instance, are you collecting and monitoring dashboard metrics? Is there room to apply automation? Once you’ve conducted a comprehensive analysis, look specifically at advancements in AI-driven data and analytics. Doing in-depth research will help you identify opportunities to grow, as well as pinpoint areas where adjustments could be made.
Just stay positive and open to the possibilities that lie ahead. With the right mindset and approach, AI data and analytics can become a powerful tool in any marketer’s toolbox.