If you have been in the media buying business for many years, you must remember the days of planning using macros in huge Excel documents. That era has long since passed. There are now more intelligent media planning tools.
However, just because media planning tools are easy to use doesn’t necessarily indicate that your work has gotten simpler. Back when media planning was done with simple tools, the only things you probably had to look at were the GRPs of TV channels and the sales numbers of newspapers. But the media industry has grown considerably more complicated in recent years. So you need all the help you can get. And that’s where the increasing number of applications for artificial intelligence might be useful.
The main advantage of applying AI to media planning is higher output. Although this is not shocking, it is a truth that should be emphasized. According to research, AI can boost media buying productivity by up to 40%. In today’s world of ever-increasing business volumes, this is no small accomplishment.
Reduction of Human Error
In a media plan, adding one zero too many can have disastrous results. AI is helping to cut down on these kinds of mistakes. The reduction of such errors is crucial, especially with increasingly complicated planning frameworks.
More Accurate Budgeting
The price of numerous advertising places is determined dynamically today. As a result, it might be difficult to determine an exact media budget at the beginning of a campaign. However, a successful artificial intelligence can offer this competence. This makes handling money much simpler.
More Effective Planning
Using artificial intelligence in media planning not only makes work easier, but it also makes the work better. Artificial intelligence allows for much faster and more efficient evaluation of data, which is fairly laborious to do manually. The money for media is used to its full potential in this way.
We now have to adjust campaigns while they are in progress in order to make them more effective. However, maintaining control of everything round-the-clock is not realistic. Artificial intelligence ensures that campaigns are as effective as possible by keeping everything under control at all times, much like an employee who has no idea of overtime.