There are over 25 million combinations of actions Brand Managers can take, over the course of a year. Some lead to success, others result in setbacks. Having so many options can be intimidating when trying to decide the direction in which to take your brand.
That’s why AI has been the biggest game changer for Brand Managers, speeding up the decision-making process by evaluating all these potential options, in seconds, and extracting the most significant option for brands to take for growth. It also brings certainty. Certainty that you’re making the right investment in a marketing action. Certainty that you’ll have positive outcomes.
As we enter the new age of Brand Management, embracing AI will only benefit these brands, providing them with more data, time, and confidence in the moves they’re making.
Data is fuel for marketers
Brand Managers have traditionally had to rely on 3 things to succeed: instinct, experience and information. Brands that achieved in the past possessed a healthy amalgamation of all 3, trusting their gut reactions down to a tee, learning and growing from previous experiences and having access to the best data, at all times.
Yet, the world is constantly evolving and changing. And in this present moment, we’re more connected than ever, with humans able to access news on the go, gain answers to complex queries and calculations in seconds, and acquire food, deliveries and transportation, at the touch of a button. We’re living through an ‘Information Age’, and with so much data at our disposal, it makes it difficult to focus on just one thing. With ‘information’ rapidly growing in importance, it’s no wonder it’s set to surpass ‘instinct’ and ‘experience’ in the world of Brand Management.
In Brand Management, the interpretation of data has become critical for survival. The right data can supercharge any brand, keeping marketers informed on the context surrounding their brand, so they are better able to identify and act on growth opportunities. But the wrong types of data can be dangerous, leading to inaccurate decisions and costly mistakes. Data overload is also a common problem in this field, as there’s simply too much data for any human to run through on their own. There’s household purchasing figures, sales and distribution stats, and reams and reams of qualitative data. Being confronted with all of these options at once is overwhelming for Brand Managers, resulting in confusion and uncertainty about which direction to take their brand in.
That’s where AI comes in. AI is data hungry. Capable of crunching more numbers, at a more accurate and efficient rate, than any human can. It’s physically impossible for humans to hold onto multiple data streams in our heads. For us to execute efficient data-driven decisions, it requires more time, energy and skill than is deemed practical for any typical marketing team. Whereas an AI has virtually no limitations. It’s able to combine multiple sources of information, ingest new data as it emerges, and create a conclusive plan of what to do with this data, in seconds.
AI is democratizing Brand Management
Marketing has historically been thought of as an art – where success is determined by the skill of one’s instincts. As there’s no right or wrong answer with an ‘art’, and there’s so many different channels, techniques, schools of thought and sources of information to take into account, it can take years to become a true marketing ‘expert’.
Because of this, the best marketing jobs have tended to go to those with the most experience. AI will help to level out this playing field, giving a well-deserved leg up to the imaginative thinkers, who may be on the brink of greatness, but haven’t yet done their ‘time’.
AI is the next logical step for marketers, as it’s the only way to mimic the complexities of the brand world, in an automated way. You can teach a computer everything it needs to know about brands, as an AI’s potential for learning is infinite. It can understand general marketing terms and objectives, learn what to expect from your category, and discover the specific actions you should be taking to get to your goals.
The more data an AI ingests, the smarter it becomes. Having an intelligent AI at your disposal will supercharge your marketing efforts, eradicating error, optimizing efficiency and leaving room for you to do what you do best, creativity.
Humans vs machines
The concept of ‘AI in the workplace’ can feel scary at first, as it causes us to question our own roles, leaving us wondering whether a machine can do our jobs for us. Rest assured, computers need us as much as we need them. An AI without human intervention is the surest way to failure. And without receiving training from the best marketing minds, an AI would never be able to reach the same level of expertise as a Brand Manager. Just like a car will splutter and stall without fuel, so too will an AI without human knowledge.
Humans and machines complement each other. Insight, innovation and creativity are solidly human traits. Whereas machines are capable of detecting patterns and evaluating complex datasets in milliseconds. With humans, you get lightning bolt moments and killer ideas. With machines, you get reassurance that the decisions you’re making are based on accurate statistics and will lead to growth.
The future of Brand Management
The future of Brand Management will be faster, more creative and more category defining. With AI by our side, we’ll be liberated from mundane tasks, as we’ll be equipped with superior data to get to better decisions, quicker. This will inspire more creative work, as brands will have the confidence and the freedom they need to work without fear, knowing the moves they make are backed by accurate AI-powered guidance.
Every brand has its own path and story. AI won’t result in identical executions across categories. What it will do is work with the resources and assets available for each brand, to carve out unique paths to success.
ProQuo is a part of this mission. We have defined a new category - AI Brand Management - where humans and machines work together. Our brands work closely with our AI platform to grow with confidence. Because of AI, they have greater certainty in the actions they’re taking, as they know they’ll lead to positive outcomes. This enables our Brand Managers to make decisions more freely, without insecurity, allowing them to focus on the ‘good stuff’, from campaigns to new product launches, and creative executions.
For more on AI and Brand Management, have a read, or watch our latest webinar below.