{"id":6230,"date":"2024-02-01T01:52:51","date_gmt":"2024-02-01T06:52:51","guid":{"rendered":"https:\/\/advertisingweek.com\/aw360\/2024\/02\/01\/whats-love-got-to-do-with-ai\/"},"modified":"2024-01-23T16:54:28","modified_gmt":"2024-01-23T21:54:28","slug":"whats-love-got-to-do-with-ai","status":"publish","type":"post","link":"https:\/\/advertisingweek.com\/aw360\/news\/whats-love-got-to-do-with-ai\/6230\/","title":{"rendered":"What\u2019s Love Got to Do with AI?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>By Ericka Podesta McCoy, Chief Marketing Officer, Resonate<\/em><\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Love is an amazingly powerful force\u2014and the research proves it. Love in the form of hugs has been found to <a href=\"https:\/\/www.nbcnews.com\/better\/pop-culture\/health-benefits-hugging-ncna920751\">reduce the effects of stress<\/a>. It\u2019s been shown to <a href=\"https:\/\/www.cmu.edu\/dietrich\/psychology\/stress-immunity-disease-lab\/publications\/stresssocial\/pdfs\/handbookchap01.pdf\">boost our immune systems and lower our susceptibility to illness<\/a>. It even <a href=\"https:\/\/pubmed.ncbi.nlm.nih.gov\/15740822\/\">lowers our blood pressure<\/a>.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">What\u2019s love got to do with AI and marketing? Hang with me, and I\u2019ll get to that.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Love of brand is just like love-love\u200b. Its impact\u2014as demonstrated by research\u2014is profound, particularly when it comes to sales. <a href=\"https:\/\/www.invespcro.com\/blog\/customer-acquisition-retention\/#:~:text=The%20probability%20of%20selling%20to,when%20compared%20to%20new%20customers.\">Research has shown<\/a> that the probability of selling to an existing customer\u2014one with an established love of brand, that is\u2014is 60-70 percent, compared to a new prospect&#8217;s 5-20 percent probability. At the same time, customers who have a relationship with your brand are 50 percent more likely to try a new product, and they spend 31 percent more compared to new customers.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Love of brand is built the same way any other loving relationship is built\u200b. Unbreakable love of brand\u2014that fervent, passionate loyalty, the kind that contributes to customer lifetime value, the kind that we all want for our brands\u2014is established by building a strong understanding of your customer. That\u2019s why deeper, intimate customer understanding remains the holy grail for marketers\u2014and an elusive one at that.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">That brings us to AI\u2014the transformative force in marketing that promises to deliver new efficiencies and also has the power to deliver the kind of understanding that drives true, passionate brand love. But not just any AI will do. Let\u2019s look at what marketers need if they\u2019re going to unlock true love of brand.<\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Unbreakable Love Requires Understanding<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">Love\u2014among people and between people and brands\u2014requires dialogue that fosters understanding. In the marketing world, that means massive amounts of customer and consumer data.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Brand-prospect and brand-customer dialogue happens all the time. There are obvious \u201cconversations\u201d during the buying journey. People speak with their wallets. They speak to customer service. They engage in dialogue with or about your brand in social media.\u200b All of these dialogues yield valuable data. But for most brands, these conversations are just the beginning when it comes to true understanding and fostering brand love.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s where third-party consumer <em>intelligence <\/em>comes in. Notice the emphasis on \u201cintelligence\u201d\u2014because what\u2019s really needed to foster brand love. Demographics and other basic third-party householded data sets are useful, but they\u2019re not nearly enough. Brands that want to rise above their competitors and establish enduring customer relationships need sources of insights that can provide the following levels of understanding:<\/p>\n\n\n\n\n<ul class=\"wp-block-list\">\r\n \t<li><strong>Motivations <\/strong><strong>and drivers: <\/strong>Beyond basic psychographics, marketers need insight into consumers&rsquo; attitudes, opinions, and personal values as it relates to how they make decisions in their daily lives. You want to know their &ldquo;why.&rdquo;<\/li>\r\n \t<li><strong>How, when, and<\/strong><strong> why customers change: <\/strong>People change quickly. There is a lot happening in the world, and the consumer is impacted by all that change. Marketers need data that captures those shifts in attitudes, sentiment, behaviors, intent, and preferences&#8203; and empowers your brand to meet the consumer where they are now and where they are going.<\/li>\r\n \t<li><strong>When and why they are going to buy: <\/strong>Consumers have a broad range of motivations when it comes to purchasing behaviors. Knowing if, when and why they will buy is critical, and there may be some surprising reasons they choose, buy, advocate, or abandon your brand, including&hellip;<\/li>\r\n \t<li><strong>Consumer activism<\/strong><strong>. <\/strong>Amongst the many drivers of intent is a subtle but increasing driver called ethical consumerism. If marketers don&rsquo;t have insight into the issues that inspire their customers to action, they&rsquo;re missing a massive dimension of their lives&mdash;and an important opportunity to foster a deeper relationship.<\/li>\r\n<\/ul>\n<p class=\"wp-block-paragraph\">Brand love is built on relationships, and relationships are built on data that drives understanding. So, what does AI have to do with love? AI-powered data fuels more precise customer and consumer descriptions at scale. AI-powered data drives better understanding that leads to better personalization for customers and prospective customers. That\u2019s why it\u2019s more important than ever for marketers to understand how AI is transforming the data and analytics landscape.<\/p>\n\n\n\n\n<h2 class=\"wp-block-heading\"><strong>How Brand Love Benefits from AI<\/strong><\/h2>\n<p class=\"wp-block-paragraph\">The dawn of the internet was the biggest technological evolution to impact all of mankind. And even so, it\u2019s just the foundation of what is possible with AI\u200b. \u200bAI is the skyscraper built on the foundation of the internet\u2014and it will transform everything.<\/p>\n\n\n\n\n\n<p class=\"wp-block-paragraph\">But not all AI is created equal, especially not when it relates to consumer data and analytics. While many players have entered the AI realm, most lack the experience to deliver precise scaled consumer data and intelligence.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Modern AI consists of two or more models\u200b. A strong foundation model trains on massive amounts of data\u2014generally the entire observable universe for a domain. GPT4, for instance, saw almost every word written by a human for public consumption in its training. Then a\u00a0 secondary model intends to solve a specific business problem, like predicting churn or determining if someone is in-market for a product.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Effective large language models, or LLMs, require training on large data sets, and most players do not have the volume or diversity of data to ensure the needed precision of the types of predictions required for the consumer data use cases. The practice of training and optimization increases precision and accuracy and, in a consumer data application, provides more useful understanding.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">To foster brand love, marketers need to employ modern AI ecosystems whose foundation models are built on massive amounts of data around consumer behavior and intent. Such a model is like a sponge, soaking up the vast ocean of consumer data. It learns intricate patterns, nonlinearities, and correlations.\u200b In doing so, it enables its secondary model to build on this wealth of pre-learned knowledge to provide marketers with specialized insights into who their customers and prospects are as humans, not just consumers.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Simply put, effective AI for marketers remembers the past, knows the present, and predicts the future. It\u2019s trained on billions of histories representing trillions of signals\u200b, and it\u2019s continuously improving\u200b.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">Today\u2019s marketers have to choose how they will employ AI in their efforts, and time is short. Companies that embrace AI today to foster brand love will be the winners\u2014and they will not be reducing employee jobs; rather, their employees will be part of the long-term growth strategy\u200b. Laggards will embrace AI not to win, but to survive, implementing AI as a cost-cutting measure, not a growth strategy\u200b.<\/p>\n\n\n\n\n\n\n\n<p class=\"wp-block-paragraph\">So, what\u2019s love got to do with AI? Everything.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s marketers have to choose how they will employ AI in their efforts, and time is short.<\/p>\n","protected":false},"author":7,"featured_media":6231,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","editor_notices":[],"footnotes":""},"categories":[1],"tags":[17],"topics":[2],"class_list":["post-6230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ai","topics-editorial"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What\u2019s Love Got to Do with AI? | AW360<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/advertisingweek.com\/aw360\/news\/whats-love-got-to-do-with-ai\/6230\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What\u2019s Love Got to Do with AI?\" \/>\n<meta property=\"og:description\" content=\"Today\u2019s marketers have to choose how they will employ AI in their efforts, and time is short.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/advertisingweek.com\/aw360\/news\/whats-love-got-to-do-with-ai\/6230\/\" \/>\n<meta property=\"og:site_name\" content=\"AW360\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-01T06:52:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/advertisingweek.com\/aw360\/wp-content\/uploads\/sites\/3\/2024\/01\/iStock-1220710292-modified-973d04ab-97bb-4289-aa42-8ceecd6b92d5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2183\" \/>\n\t<meta property=\"og:image:height\" content=\"1229\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Advertising Week\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Advertising Week\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/\"},\"author\":{\"name\":\"Advertising Week\",\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/#\\\/schema\\\/person\\\/ae698b8b96e141836006836db70d9e69\"},\"headline\":\"What\u2019s Love Got to Do with AI?\",\"datePublished\":\"2024-02-01T06:52:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/\"},\"wordCount\":1125,\"publisher\":{\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/wp-content\\\/uploads\\\/sites\\\/3\\\/2024\\\/01\\\/iStock-1220710292-modified-973d04ab-97bb-4289-aa42-8ceecd6b92d5.jpg\",\"keywords\":[\"AI\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/\",\"url\":\"https:\\\/\\\/advertisingweek.com\\\/aw360\\\/news\\\/whats-love-got-to-do-with-ai\\\/6230\\\/\",\"name\":\"What\u2019s Love Got to Do with AI? 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