Accept that your old value proposition is toast
Consider how you convinced your existing clients to sign up with your agency. If your pitch included that you produce amazing results because you’re really good at bid management (something machines are getting really good at), you may need to tweak your positioning. You don’t want to make your main value proposition something that can be put on autopilot by anyone — and will hence become very difficult to price at a level that makes you successful.
That’s not to say that you should stop thinking about something like bid management altogether. Instead, you should offer skills that are complementary to the AI system rather than skills that compete against it.
Hal Varian, Google’s chief economist, gives the career advice to “become an indispensable complement to something that’s getting cheap and plentiful.” For example, become a data scientist because we’ll need more people to make sense of the data and to figure out how to turn new insights we get from more sophisticated AI into new strategies.
In the context of an ad agency, this makes a lot of sense. You want to be able to say you have great data scientists who can make sense of what the automated systems are doing and make solid recommendations for the next thing to test.
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