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How AI can recession-proof your business
As economic headwinds threaten your business, adopting an automation solution can minimize a negative impact on your organization.
Companies are currently bracing for a potential economic downturn, and many are searching for a solution to their current woes. Increases in labor costs over the past few years, an abrupt churn of employees and clients, looming difficult business decisions and keeping up with the ever-changing landscape of new and emerging technology solutions are all compiling realities in today’s climate—causing further complexities for businesses today.
So where do you turn? AI tools like Robotic Process Automation (RPA) can mitigate many of these fears and create real efficiency and opportunity for your business. Creative solutions like ChatGPT are already a reality for digital advertisers. So what’s next for AI in the industry—and more importantly, how can the industry leverage them to reap their direct benefits, such as increased efficiency, productivity and efficiency?
Using AI to create new business opportunities
Savvy digital advertisers are already using AI tools—like ChatGPT—to support creative tasks like writing content (email copy, outlines for long-form content, etc.), generating keywords and code, and creating images with just a few simple prompts. And this is only the beginning. As variations of ChatGPT and similar AI chatbots continue to advance, users will be able to ease on the prompts they give and, in turn, have to modify even less.
Where else will we see AI in digital advertising? Customer support is one area where AI can learn from unique data points of your customers like commonly asked questions, and reply to them as they arise again.
Generative language is also emerging in videos; users can quickly generate and deliver important messages via web portals, email and the like—at scale—to unlock critical time savings. Consider the multi-family industry: with this form of AI, users can quickly upload a few images which AI can use to create a video of their available properties in seconds. It’s these types of forward-thinking solutions that will drive efficiency throughout the industry.
Why it’s time to get on board with automation
What do emerging AI technologies have in common with navigating economic headwinds? It’s simple: automation can create vast efficiencies within your organization. The need to hire 20 additional strategists to support the grunt work is no longer a necessity; instead, you can automate those repetitive—yet critical tasks—and focus the staff you have on the more strategic side of your business.
One of the most straightforward ways to understand how automation can create these efficiencies within your organization is to look at the salary of one of your digital advertising strategists. On average, strategists bring in around $80-$85,000 annually. So imagine if they’re spending half of their time each day on tasks that could be automated, like account launches and budget management. That’s virtually $40-$45,000 per year per strategist you’re spending on taskwork. Multiply that by a team of 10 strategists, and at the very least, that’s $400,000 a year you’re spending on tasks that simply could have been automated. Automating task work also transforms the time it takes to do it—think days down to seconds.
Once you start reducing the time your employees spend on taskwork, you can put them on more forward-thinking efforts. Creating more productive hours for your team also decreases the number of strategists needed to complete taskwork. That’s the power of automation: It creates benefits for both the business from a revenue perspective and employees from a sentiment standpoint. Both outcomes are important— and both parties come out on top.
Don’t take your hand off the wheel
AI is taking form in the industry, whether organizations are ready or not. The question is, will you adopt it and stay afloat, or better yet, get ahead? Or will you continue to resist it and get left behind by an organization that can cater to the rising demands of this technology? If you don’t know where to start, begin by thinking of AI as an assistant or alternative solution to hiring.
Despite the promises of automation, AI in digital advertising is still very much like the notion of a self-driving car. Sure, it’s extremely convenient and impressive, but it shouldn’t be left to its own devices. The same rings true for automation. You can’t eliminate the need for creatives—to do it right, you’ll still need a team of strategists pulling the levers and supporting the more strategic side of the business, but the need to fully staff a team for the grunt work is in the rearview mirror.
How fluency leverages AI to create opportunities for scale
One of the ways Fluency—an enterprise-level ad automation platform—creates opportunities for scale is through Blueprints—a Fluency-exclusive benefit of the platform. Think of Blueprints as an advertising strategy plan that uses data to build and apply changes to advertising accounts at scale. Why is this important to your advertising strategy? Blueprints offers the ability to create the backbone of your advertising strategy and launch against it with selected accounts for large-scale control. Where it used to take your staff countless hours to launch accounts, Blueprints use dynamic data points, like inventory feeds, to inform advertising account structures and all of the elements contained in them, like campaigns, settings, targeting, keywords, creative and pretty much everything else.
The result? Quality increases, capacity is limitless, and success is sustainable. These are just a few of the many ways partners of Fluency can take advantage of automation to create a meaningful ripple effect across the organization where the work is strategic and engaging.
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