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AI for Business - Brand Management

Exploring the case for AI in Brand Management; customer experience and perception.

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AI for Business - Brand Management

  1. 1. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 1 May 2018 Exploring the case for AI in Brand Management; customer experience and perception. Artificial Intelligence In Business Maximizing Human Potential Transformation ~ Centers of Excellence ~ Artificial Intelligence
  2. 2. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 2 What is a Brand? “a publicly distinguished product, service or concept that can be easily communicated, marketed and positioned” Influence of AI: a. systems that aid decisions through strategic intelligence; b. focuses on automated solutions requiring less human intervention; c. visualizes through AI-powered customer experiences; and d. improves recognition, experience, perception and bottom line.
  3. 3. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 3 Competition. Market competition ensures brand strategy is vital to customer loyalty. For the best strategy, a Brand Manager should understand the following: ❖ human psychology in decision making and its affects; ❖ psychology of implementing “best practice” for a product or service; and ❖ measures and effectiveness of branding strategy. AI powered customer experience programs significantly aid this process.
  4. 4. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 4 We Explore the. 1. Possibilities for AI in rethinking “Brand Management” 2. How AI can improve awareness and equity 3. How AI focuses on automated solutions 4. How AI powers customer experiences 5. Case studies of brand cycles
  5. 5. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 5 Artificial Intelligence Impact. Unprecedented ability to: ❖ improve brand interaction and rationalize actions that promote brand goals; ❖ avoid a high degree of fluctuation in customer perception; and ❖ help make the brand experience more personalized and predictive. Tools ❖ Signal Weighting and Entropy Pooling. ▪ Improves customer experience, satisfaction, value and competitive advantage.
  6. 6. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 6 Understanding Brand & AI. Intelligence-driven Product Catalogs Social Network Optimization Market Engagement Customer Care Decision Wheels Digital Media in Brand Reputation • Business processes • Internal resources • Data available • Speed of extraction • Speed of processing • Choosing AI solution • Create project • Best practices (CoE) • Build ETLs / Cloud Data Solution. • Manage AI Portfolio • Governance • Steering Committee Prepare ExecuteIdea Business Capabilities AI Solutions AI Solution Lifecycle • Define drivers • Define KPIs & CSFs • Form strategy & timelines • Plan ROI measures • Continually improve capabilities • Train, coach, mentor team members • Monitor Value & ROI • Continually review opportunities & technology
  7. 7. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 7 Intelligence-driven Catalogs. Leverage customer behavior and engagement to automatically fine-tune product catalog offerings. Optimize price, content, validity, etc., and propose configurations based on deep learning.
  8. 8. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 8 Social Network Optimization. Enable content routing by optimizing information according to demands, traffic volume, user behavior and other parameters.
  9. 9. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 9 Market Engagement. Create real time contextual, personalized engagements, across a wide range of criteria.
  10. 10. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 10 Customer Care. Harnesses intelligence and automation, by anticipating needs and “just in time” engagement.
  11. 11. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 11 Decision Wheel. Focuses on Brand Management via customer experience; ❖ happy customers create brand loyalty, increasing reputation improving growth [1]. AI improves customer experience by; ❖ generating personalized recommendations; ❖ building AI-powered Application Programing Interfaces (APIs); ❖ linking business and customers [2], thus improving perception; and ❖ providing speech recognition and emotional intelligence solutions. Value/ Reputation Customer Markets/ Campaigns Identity/ Perception Trust/ Loyalty Strategy Growth/ RevenueAnalytics Forecasting Advertising Crisis Management Decision Awareness Pressure Groups Equity Scientific Media Choice Natural Fear Detectability
  12. 12. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 12 Digital Media & Reputation. ❖ Opinions spread quickly ❖ Word of mouth and social search are powerful ❖ Customer reviews affect reputation ❖ Brands use AI to better control experience and hype ❖ Automation software helps simplify labour intensive tasks Brand Management • Strategy Management • Positioning • Core Differentiators • Value Management • Financial Management • Campaign Management • Planning & Implementation • Measure & Evaluate • Performance Management • Risk Management • Optimizing • Products Services • Customer & Experience Marketing Satisfaction Performance Fulfillment Automated Services Personalization Rational Emotional Brand Reputation Artificial Intelligence Alignment • Good reviews on social networking sites. • Advocacy increases customers by ‘word of mouth’. • Bad response or non-response online • Bad experience with a brand rep +4 Trust/ Brand Loyalty • Identity, perception, attitude about brand • Unfavorable consumer reaction • Advertisements leading to improved awareness trough repeated exposure. • Educate on what brand represents. -3 Brand Rejection • Negative value, reputation or identity. • Opinion or story posted by angry, disgruntled or confused customer. • Recognized by good stories posted by customers. • Communicate brand advantages, encourage trial. -1 Brand Recognition • Opinion or story posted by angry, disgruntled customers. • Negative brand experience. • Good stories posted by customers that support by word of mouth. • Create distinctive positioning. Brand Preference+2 -5 -3 0 +3 +5
  13. 13. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 13 Artificial Intelligence. Key Phases & Approach! Data Algorithms Workflows & Machine Learning
  14. 14. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 14 Data. AI’s usefulness is a function of data quality and quantity. AI delivers; ❖ strong insights, predictions, recommendations, automation; and ❖ self-learning through adaptable algorithms.
  15. 15. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 15 Algorithms. The constancy of data analysis, research and problem solving is a timely action, based around insight and workflow.
  16. 16. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 16 Workflows & Machine Learning. Automating the process of applying AI to real-world problems, allows: ❖ modelling and signalling to speed identification and completion of tasks; and ❖ optimization of outcomes to improve routine actions.
  17. 17. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 17 Approach - Signaling. Signal weights - indicator analysis understands risk through conventional pointers, filters or Entropy Pooling [3,4,5] ❖ Signals can be integrated using assigned confidence scores ❖ Signals indicate the probability of brand value scaling up or down Current Brand’s Reputation Media Perception Cz Cx Cy P(x)=Cx-α a(α) (stable) Alpha Target Constant Sloop Push Up Push Down • Fragment • Fluid • More, but Weak ▪ Parameters ▪ Benchmarks ▪ Rules ▪ Probability • Less • Stronger # Fail
  18. 18. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 18 Use Cases. Promotion Crisis Management Brand Value Over Time
  19. 19. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 19 Brand Promotion. Example: Graph demonstrates “Brand promotion and identity” of a product, with a person using “X Cat Food” over time. This illustrates positive impacts to promotion to generate customer loyalty. Local promotional cycles generated increased awareness and sales of cat food goods, therefore increasing band identity and awareness. Impact: The use of AI powered customer experience, enhanced brand loyalty. Over time local promotion led to an upward trending at a national level where word of mouth and AI supported digital media helped create positive product hype. Outcome: As promotion cycles progressed, brand awareness increased. Positive customer experience generated brand equity; word of mouth in turn created a self sustaining market. Target Promotion Cycle 1 Promotion Cycle 2 Local Current National Promotion Cycle 3 Promotion Cycle (n) Trending Initial Campaign Development Growth Initial market reaction Awareness catches Becomes self sustaining as recognition & loyalty expand Continually trends up as loyalty improves Sustaining
  20. 20. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 20 Crisis Management. Example: Graph demonstrates a “Person claiming to have gotten hurt” by a product, creating a potential crisis for “X Cat Food” when contaminated pet food causes injury or death. This illustrates escalation and reactions to crisis to mitigate impacts. Social media can be followed by anyone – customers and competitors, therefore becoming an important indicator of organizational reputation. Impact: AI helped in the reaction of brand crisis management to mitigate impacts. AI generated signal reviews of digital media, identified triggers to help the organization monitor brand mentions. Outcome: ‘Media Hype Cycle’ was managed and better controlled allowing the brand to swiftly respond to negative circumstances before the brand cycle reached widespread media perception. Emerging Issue Situational Development Crisis Target Files Lawsuit Brand’s Reputation at Stake Brand Owner files Fake Advertising Countersuit Plaintiff Found Guilty of 5 Counts; Fined & Required to Publish Correction 100+ Counts in False Advertisement Publishes Correction Media Catches Media Commentary Handling Crisis Shoots New Television Ad Person Gets Hurt Plaintiff Goes to Media Current
  21. 21. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 21 Brand Value Over Time. Example: Graph observes over time cycles of positive and negative trends. Impact: AI monitoring provides recommendations that identify and mitigate brand impact abnormalities, that help to “control” brand value by which Brand Strategy maybe better applied. Outcome: Monitoring brand value cycles that generate positive trends, build up of brand capital, limit exposure to high fluctuation events. Increases in brand loyalty to better insulate the brand against isolated events that do occur. Time KEY: W Wet Cat Feast X Wet Cat Food Y Dry Cat Food Z Wet Cat Food BrandValue Normal Range Normal Range
  22. 22. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 22 Observations & Conclusions. Organizations provide “Brand” statements expressing identity, connection and fulfilment of customers’ need.  Customers in turn market for them. Therefore brand loyalty and reputation, directly influences sales and growth.
  23. 23. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 23 Impact of AI. Provides better answers to complex problems, eases decision making and enhances brand promotion. Generates significant value, improved performance, customer awareness, experience, and satisfaction. Provides signals on market and customer perception using recommendations to reduce risk impact.
  24. 24. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 24 1. AI Generated Content 2. Smart Content Curation 3. Voice Search 4. Programmatic Media Buying 5. Propensity Modeling 6. Predictive Analytics 7. Lead Scoring 8. Add Targeting 9. Dynamic Pricing 10. Web and App Personalization 11. Chatbots 12. Re-targeting 13. Predictive Customer Service 14. Market Automation 15. 1:1 Dynamic Emails Areas of Benefit from AI. 15 areas Brand Management and Marketing can benefit from AI.
  25. 25. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 25 For more information, please visit www.firstalign.com to discover ways we can help. Download the full white paper at http://www.firstalign.com/press/index-publications.html
  26. 26. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 26 Notes & References. [1] Anni Isotalo and Samu Watanen. 2015. The impact of Brand Experience on attitudes and Brand image ~ A Quantitative Study. Master Thesis, EFO 704, Mälardalen University School of Business, Society and Engineering. [2] Ms Suman Si, Ms Mansi Kapoor (2014) Impact of Branding Strategies on Consumer Buying Behavior in FMCD Industry. IOSR-JBM 16(1): 126-135. [3] Attilio Meucci, David Ardia, Simon Keel (2011) Fully Flexible Extreme Views. Journal of Risk 14(2): 39-49. [4] Meucci, Attilio (2011) Mixing Probabilities, Priors and Kernels via Entropy Pooling. GARP Risk Professional, pp. 32-36, December 2011. [5] Richard Grinold. 2010. Signal Weighting. The Journal of Portfolio Management 36(4): 24-34. Additional reading of interest. Albelwi, S. Mahmood (2017) A. A Framework for Designing the Architectures of Deep Convolutional Neural Networks. Entropy 2017, 19, 242.
  27. 27. Artificial Intelligence for Business - Brand Management ~ www.firstalign.com ~ 27 FirstAlign Solutions o. 227 W 4th Street, Charlotte, NC 28202 p. 646-233-2488 e. contact@firstalign.com www.firstalign.com NOT JUST KNOWLEDGE, KNOW HOW “Maximizing Human Potential”

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Exploring the case for AI in Brand Management; customer experience and perception.

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