Are AI and Machine learning disrupting the role of digital agencies? Is there a change coming that will challenge old business models and forever change our ways of working?
We absolutely believe that, and in some areas the role of the digital agency is forever changed.
At Beyond Retail we have during the years, successfully implemented AI and machine learning capabilities within our clients organisation and infrastructure, to help and support them in drive growth and make better use of their digital marketing spend. This way we are able to offer a truly data driven approach to digital marketing, and eCommerce in particular, to maximize ROAS (return-on-ad-spend) and utilizing all resources.
We also believe that managing very large data volumes, which easily amounts to hundreds of millions variables, can only be managed on a large scale and in an effective way by computers.
But if AI and machine learning are disrupting the role of digital agencies, what role will we as agencies play in the future?
In our work, we proud ourselves at being agile, rapidly adapting to new technologies, embracing it and getting on top of it, instead of trying to stop a moving train. AI and machine learning are definitely one of the global mega trends that are happening right now, that will disrupt many old business models and forever change our industry. We believe that moving up-stream in the value chain is the only way forward, offering our clients things like strategic advice, analytic and visualization capabilities, realtime data monitoring, etc. When AI driven capabilities remove tasks that are considered as manual work or to handle complex data modelling and analytics, we have to be able to add value to our clients organisation in other ways.
We also believe that companies who adapt this and try to leverage this technology will become tomorrow’s winners. Those who don’t will most likely eventually go out of business.
But in what way can companies leverage this new technology?
Right now, AI and Machine learning is still a fairly new tool in the box for us digital marketers. At Beyond Retail we have leveraged AI capabilities in areas that range from customer acquisition in SEM (search engine marketing), to retention marketing. Working with technologies that are specialized in media buying, multi-channel marketing capabilities, lifetime prediction modelling/ analytics, advanced product recommendations, and more. We believe that this is just scratching a little on the surface when looking a couple of years down the road. But not getting on the “AI train” is not an option for us.
We also believe that the time to really learn how to implement a data driven approach is now. Not adapting the organisation to this way of working will probably just mean that the change will be much tougher later on and the company risk losing important market shares and growth opportunities.
But in what way can Beyond Retail help its clients accelerating a more data driven approach?
Being an independent company, we always look for the latest technologies and companies that are leaders in their nisch or industry. In that way we are able to help our clients in selecting the right tools and capabilities that are required for their organisation. We also support our clients in creating the right strategic and tactical framework for leveraging this new technology. That includes everything from organisational design, to go to market strategies. Just a new tool in the box won’t make much use if there is not a clear vision of how this can support the organisation and what tactics and capabilities are required to leverage it. And finally, we are able to support our clients on a short, or long term basis, with competence. Either by offering one of our consultants on a project basis or interim assignment, or by having one of our recruiting specialists help you find the best candidates for your company.
Are you interested in how your business could leverage AI and machine and become more data driven in your decision making, don’t hesitate to reach out to me or one of my colleagues.