Machine learning technology has been advancing and improving rapidly over the last few years, and because of it, advertising technology has become increasingly more sophisticated. The reality of today’s technology is that if brands want to keep up with their competitors, they have to be willing to experiment with new tech and ad tools. Google is constantly improving its machine learning algorithms across both targeting and bid management, in order to provide the most responsive and relevant content, for the best price. The best thing about this is that it is blurring the line between advertising and content for the end user. Here’s how your business can take advantage of machine learning in display advertising.
1. Enable Conversion Optimised Bid Strategies
Maximise Conversions or Target CPA bid strategies leverage machine learning to assess and optimise towards hundreds of different signals that affect the probability of a conversion based outcome. These strategies are easy to implement, and only require that you have conversion tracking set up in AdWords (either by conversion tags or linking with Google Analytics). The great thing is that you can now start this strategy immediately, and there is no longer a need to wait for 30 days of historical data before activation.
2. Automatic Add Rotation
Manual split testing is no longer necessary for improving campaign performance. Google has been hard at work improving its ad rotation optimisation algorithm and is now far more effective at serving the right ad to the right user, at the right time. No more guess-work needed, machine learning assesses hundreds of variables every second, thus outperforming manual human decisions for ad rotation.
3. Test, Learn, Repeat
Machine learning is useful for finding the best performing ad iterations, but humans are still needed for creating new ad revisions that test different variables against the current ads in rotation. It is important that you continue to test different iterations of content to feed into machine learning optimisation, as the process is only as good as the content it has to work with.
AI is nothing to be afraid of especially today, where it is successfully being used in millions of digital marketing campaigns. Using machine learning, you can dramatically improve lead generation for the same level of spend. Tread carefully, start small and let the results drive your confidence in automation. Alternately, partner with a digital marketer who specialises in this type of work like the Team at Sprocket Digital.