Sometimes, a major event occurs that has a transformative effect on the digital landscape. Paid search —we’re talking digital on a global level here—has altered forever, and here’s why.
The COVID-19 pandemic caused a significant global crisis, which led to increased e-commerce sales. In turn, this increase has subsequently given a real sense of urgency towards the shift businesses had already been making in leveraging the power of artificial intelligence (AI) to further optimise Google Ads.
This is not a new concept. The digital landscape has become far more data-driven over the last two or three years, however, the push towards incorporating these data-focused trends into daily practices for digital professionals has been significant over the past 12 months.
So, what exactly has changed?
The dynamics of the digital market have been transformed in numerous ways. Notably, digital experts are confronted with a slew of new obstacles, including figuring out how to adjust to shifting consumer purchasing habits and how to take advantage of some of the more unconventional ways to attract new clients that are now available.
Additionally, marketing budgets have been shifting dramatically, an increase in social media ad spend has further heightened competition in this sphere and pay-per-click (PPC) keyword bidding has been extremely unpredictable. And that is just the tip of the iceberg.
All this means that the digital landscape is now even more fast-paced than it was a year ago, and businesses that are struggling to adapt will simply be surpassed by those that are more agile and innovative.
The potential of AI for effective Google Ads optimisation
With new opportunities arising all the time for businesses to increase the value of their digital strategy, it is important to implement robust and agile optimisation tactics to drive a better return. To do so, you’ll need to be able to dig deep into your business’s essential data and use it wisely.
AI can continuously monitor Ad campaigns on a granular level, and this process will allow it to become even more knowledgeable over time. Strong AI will consistently flag new opportunities and possible refinements, thereby increasing return on ad spend (ROAS) all while allowing digital professionals to place their efforts into strategic development.
When Facebook and Google have been dominating -and to a large extent dictating- advertising spending and the level of success that these investments can deliver, AI could help businesses regain some control over their customer acquisition strategies.
AI and the changing nature of determining campaign success
Historically, many businesses have judged the success or failure of a campaign based on the number of conversions that were generated. While conversion metrics are vital to understanding, AI technology may provide a much broader perspective and assist organisations in optimising ad campaigns that will continue to drive success into the future.
How exactly can it do this, we hear you ask. Simply by looking at customer data in minute detail alongside third-party data to build up a comprehensive image of an entire customer base. This data can be used to forecast a variety of things, such as product preferences and the likelihood of a purchase.
Notably, this information can also allow businesses to optimise ad campaigns to reach a variety of other objectives, including profit. So, businesses will find it easier to appeal to and successfully acquire higher-value customers, which will likely impact brand loyalty, boost profits, and positively enhance retention rates.