What: Alberto Pardo, Parker Morse, and Cesar M. Melgoza, founding partners of Portada’s Council System, gave us their views on how technology will help the evolution of marketing in the near future.
Why it matters: AI is already impacting the media buying industry and it is expected to revolutionize the space with the automation of simultaneous processes.
Artificial Intelligence Will Increase Efficiency
According to a recent Salesforce study, 51% of the world’s marketing leaders (3500 participants answered the survey) are already using Artificial Intelligence in their organizations, and the technology has an anticipated YoY-growth of 53%. Moreover, 64% of these marketers agree that AI has “greatly or substantially increased their overall marketing efficiency”, and this technology is expected to grow more than any other.
“Everything will be about utilizing more technology, more data, more AI to be able to do things more efficiently,” asserts Parker Morse, founder & CEO of H Code, and member of Portada’s Agency Star Committee. “But it still needs to have people and the artistic touch of creating a creative experience that really engages the user, and machines can’t do everything. It’s about trying to find the balance between utilizing data and machines and the human element of creating the emotional connection with the user.”
5G Networks Will Bring a Mobile Explosion
Alberto Pardo, founder & CEO of Adsmovil, is pretty certain that “The future of marketing will absolutely be focused in three or four things: first, AI is going to change the way everything is done, everything we know is going to change in the near future because of the erosion or explosion of big data. Data is going to be more and more relevant and AI is going to be a very important part of it.”
Further, the member of Portada’s Council of the Americas asserts: “Second, mobile will have an impact everywhere. It’ll explode because of the 5G networks that are coming maybe this year or the next to Latin America and of course the U.S., so this’ll have a huge impact in the way we interact with mobile devices. I think video is also going to be very relevant in terms of investment, in the advertising industry, and there’s also going to be a big change in people’s roles, what people do today is going to change dramatically in the next 5-6 years.”
Data Helps Connect to Consumers
“What’s next is actually what I like to say is ‘back to the future’,” comments Brand Star Committee member Cesar M. Melgoza, founder & CEO of Geoscape, which was acquired by Claritas at the beginning of this year. “Connecting with consumers, engaging in very relevant, impactful ways will never go out of style, the question is how you do it, through which screen, at what time of day, in which context, and what that engagement results in.”
Connecting with consumers will never go out of style, the question is how you do it.
The amount of data will grow with every passing day, but marketers will need to increase the sensitivity that is needed to interpret it and make good use of it. To be effective, you need to create an emotional connection with consumers, which is impossible without the human touch, as other executives have expressed in previous marketer interviews. AI and big data are already shaping how marketing is done, the question is not “what will happen”, but as Melgoza says, how.