How Can Artificial Intelligence Help Grow Your Digital Agency?
Does your agency spend too much time interpreting the data you’ve collected from your clients? Do you want to leverage your data to help your agency grow faster? Do you want to create more effective campaigns? Artificial intelligence technology is a powerful tool that can turn data into action, and, as an added bonus, save your agency money and time.
In today’s episode, we’ll cover:
- How agencies can use AI to make better decisions.
- 2 ways to use artificial intelligence for your agency.
- Why it’s important for your agency to be able to leverage first-party data.
Today I talked with Gary Stockert, president of Toovio, a data technology company using AI to help agencies make better everyday decisions. He’s here to talk about how AI helps agencies be more efficient, more effective, and gain a broader understanding of their clients.
How Agencies Can Use AI to Make Better Decisions
Think about how much data comes across your desk every day. Now, how much of this data are you actually using? Every day, we receive critical pieces of information that can help us understand our clients, develop effective campaigns, and grow the agency as a whole.
The problem is, diving into this data takes time, not to mention, money and resources.
Gary says when he meets with a client he usually begins by asking very basic questions. One of the first questions, “How many different types of customers do you think you have?” Gary says, even if you know who your ideal customer is, the reality is, your existing customer base is probably quite diverse. Artificial intelligence can be a great tool to help your agency perform effectively with a diverse audience.
2 Ways to Use Artificial Intelligence Technology for Your Agency
Artificial intelligence technology has the ability to run complex mathematical equations in a matter of seconds. The difference between machine learning and AI is that machine learning recognizes patterns while AI turns that insight into action. How?
- Campaign strategy: AI goes beyond pattern recognition and develops into predicting human behavior. This means AI can tell you the best time to send an email. It can also help determine which images to use and what channel is best suited for your marketing campaign.
- Client diversity: Think of how much you could accomplish if you knew what your client wanted. Which platforms are they spending time on? How do they engage with your content? AI closes this loop and allows you to see what works without having to take the extra steps to guess and check.
Why It’s Important for Your Agency to be Able to Leverage First-Party Data
Platforms like Facebook and Instagram have always utilized first-party data in one form or another to understand what content to display to their users. But recent legislative changes, including CCPA and GDPR, have changed how agencies can use personal data to target users.
One of the ways your agency can adapt to these changes is to use your first-party data to feed into these paid media platforms. Doing so, you can teach algorithms to search for users who have a higher propensity to convert against given goals. Artificial intelligence and first-party data allow you to bring a lot more nuance to what you are looking for. Your goal is to connect with a client or prospect and get them to stick around. If you can’t adapt to what they are looking for and provide a personalized service, they are more likely to swipe left.
Your agency has access to a plethora of valuable data. It’s how you use it that will ultimately make the difference. When you harness the power of AI, you gain valuable insight, which in the right hands can turn into tremendous growth.
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Building Your Authority
Using artificial intelligence and artificial intelligence technology will not only help you make better decisions but support you in building your authority in your industry. As you grow, their will be other challenges that will come your way — this is where I can step in.
I have advice for common agency obstacles such as recognising common agency mistakes, how to keep great agency employees in your team as well as fostering the connections made with clients. If it’s challenging growing your business, I have agency growth hacks, the best ways to improve management of your business as well as why building a remote team can be beneficial in the long run.
You can learn more from my experience from my Ask Swenk series and my videos on my Youtube channel. Check out advice and learn even more from other successful agency experts featured on Smart Agency podcast twice every week.