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BizReport : Advertising archives : May 31, 2019

Reports: More B2B brands turning to AI

Optimization may be the oldest new buzzword in marketing. And, according to new data from InfiniGrow, more B2Bers are turning to new technology - Artificial Intelligence - to ensure they are optimizing. Most of Infinigrow's B2B clients (80%) are now using AI to optimize their ad budgets.

by Kristina Knight

What's more, the B2B spend isn't only going to the heavy hitters of Facebook and Google. InfiniGrow's data indicates B2B brands are looking at sites like LinkedIn and Quora to make the most of their ad dollars, as these sites incorporate more engaging content options like video and additional targeting options. In fact, InfiniGrow predicts the ad spend on Linked in will increase by about 26% this year and that the ad spend on Quora will increase by about 28%.
The fastest growing segment, though, is content marketing, which researchers predict will see a 32% increase in ad spending.
"The fact that so many of our customers optimized their marketing budgets based on the recommendations of our AI is a tremendous vote of confidence for our technology," said Daniel Meler, CEO, and co-founder, InfiniGrow. "According to our data and customer feedback, the AI-based channel recommendations have improved marketing ROI, resulting in our clients' increasing their use of our AI technology and data in marketing planning."
It isn't only InfiniGrow's data which shows a renewed interest in AI from B2B brands. New data out from Demandbase shows most B2B brands are now adopting AI and that nearly  half (42%) are using "at least some" AI capabilities. Those already using AI are seeing benefits. The Demandbase data indicates that of those who have already implemented AI technology 60% believe AI gives them high value, and most (62%) report they see results from AI implementations within 6 months; just over one-third (39%) expect to see AI results within 4 to 6 months.
As to how B2B brands expect AI to influence their marketing results most (72%) expect AI to increase the efficiency of their campaigns, improve the targeting of ads (66%), and improve real-time personalization efforts (51%). Nearly two-thirds (64%) expect AI to improve their lead generation abilities.
But, there remains a gap, according to brands. Just over half (55%) say cost is a barrier to AI implementation, as are the skills needed to properly utilize AI (52%), while nearly one-third (31%) say they aren't sure where to begin with AI implementation.

Tags: advertising, AI advertising, B2B marketing, B2B strategy, Demandbase, InfiniGrow

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