I’m sure we are all familiar with the film i,Robot starring Will Smith and a bunch of smart(too smart) robots right? Well, if you haven’t watched it yet, you should really go check it out. It shows you the possibilities into what our world can become.
Although you can say that we’re still far away (or are we?) from having humanoid robots who can think and act on their own, but we know one thing is for sure: AI will increasingly become integrated into our everyday lives, whether we like it or not.
The truth is, many of them have already been part our lives, some we can’t even live without!
From movies and music reccomendation by netflix and spotify to our very own Apple SIRI and Google Now. You have to admit, these AIs are making our lives waaay better.
But when it comes to business, how does AI fit into the landscape? Into marketing? Or just in growing your company in general?
HUGE I say, they play a HUGE part if you ask me. Just look at simple tasks like invoicing or summarizing your financial report, AI is slowly taking over these routine based jobs.
Businesses are even using AI messaging for their customer support! That’s right, machines can now carry out simple conversations with customers.
AI will be transforming the whole business landscape in the coming years and the businesses that are quick to adapt will be the ones with the upperhand.
Now, here’s a perfect example of a company that jumped onto the AI bandwagon and benefitted from it greatly.
Musee is Singapore’s 1st Interior Design Resource Library & Renovation Experiential Centre.
Before finding out about us, Optimate, they were already running online campaigns through facebook, promoting their products actively to their audiences. (talk about being at the forefront of technology).
But still they were facing a problem, their ad cost are sky high.
Just like many SMEs, they were throwing huge amount of money targetting audiences they’re not even sure are interested.
They even further segment their audience down by choosing their interests, age, gender etc (experienced facebook marketers/ entrepreneurs, you know what I’m talking about).
But all of these variables are based on assumptions. These interests are what the business owner “think” are the perfect audience group, but are they certain about it? Can they be sure? It’s hard to tell…
And simply because of this, Musee just like many other SMEs are unknowingly wasting THOUSANDS of dollars (up to 60% of total digital marketing budget) on their ad spend.
Well, thankfully here’s the good news. Because we saw that there is a need for such a system, plus with our country’s tremendous technological advancement(thank you Singapore!). We’ve manage to program a revolutionary AI platform that can automatically optimise your campaign with machine precision to target the perfect customers that you want.
This means that you never have to worry about not reaching out to your right target audiences ever again!
This system is called Optimate.
The core of our technology is to use a dynamic sampling methodology to test the scale of data, and further generate the best result based on evidence provided by the data itself.
(Whoah that’s a handful!)
To put it simply, it helps test your campaigns with every possible demographic variable of your target audience in the shortest, easiest and most efficient way possible.
Remember: There are over hundreds of possible combinations out there that you can test. Can you imagine testing all of these combinations manually? It’s gonna take months! Not to mention the cost incurred…
So with Optimate, all these combinations are tested in a short timespan of just 3-5 days. Best part of all? Minimum amount of budget is used for the testing. This means that we’ll squeeze every dollar that you invest into online marketing into extremely useful, valuable data that you can use to multiply your business immediately!
Yes, we’re talking about finding out the specific target audiences on Facebook for you. Their age, location, interests etc. Can you imagine showing your ads particularly to these groups of people? People who have already pulled out their wallets and are ready and hungry to buy from you in an instant? All you have to do is just ask…
Now, can you see how powerful this system is?
So now that you have an idea of how our system work, onto the important question: How much ad budget will you save and how can this new technology improve your business’ ROI?
Well for Musee’s case, we’re talking about at least 450% ROI, 499.5% to be exact.
As you can see we’ve improved their ad’s relevance score by 2X, from a 5 to a 10. Take note that 10 is the maximum for a relevance score. This means that this ad is highly relevant for their audiences!
We’ve improved their click-through rate(CTR) by 3.7X from just 3.75% to a whopping 13.884%.
We’ve also reduced their cost per engagement. Before they were paying $0.23 per engagement, now it’s reduced to all the way down to $0.15.
Now if you do the math, getting 370% more clicks and having a 35% reduce in cost per engagement, means that’s a 499.5% increase in your ROI here(135% X 370%). Now who wouldn’t want that for their own company? ;)
So there you have it. With the help of AI, Musee is able to 5X the effectiveness of their ads and grow their company, without having to worry about the effectiveness of their ads!
Like I mentioned, AI is here to stay, and the companies that learns to leverage on it fast will be the ones with the competitive advantage.
As mentioned by Goldman Sachs in their Equity Research Report 2016:
“We believe the ability to leverage AI technologies will become one of the major defining attributes of competitive advantage across all major industries in the coming years. While the strategy will differ by company size and industry, management teams that don’t focus on leading in AI and benefiting from the resulting product innovation, labor efficiencies, and capital leverage risk being left behind. “
If you want to know how much more effective your ads can be or how much you can save on your ad cost with Optimate, schedule your free consulting session with our Facebook Certified Professional now.