In today’s fast-paced world, businesses are constantly looking for ways to stay ahead of the competition and adapt to the ever-changing market landscape. In the advertising industry, this means embracing new technologies and strategies to create more efficient and effective campaigns.
One such technology that is making a significant impact in the ad industry is Artificial Intelligence (AI). And according to Henry Cowling and Ketan Desai of Monks, a leading branding agency in India, AI is not just eating your lunch; it is your lunch.
The Outdated Metric of Billable Hour
For years, the billable hour has been the go-to metric for measuring the success and profitability of advertising agencies. However, with the rise of AI, this metric is becoming increasingly outdated. AI-driven workflows can complete tasks much faster and with greater accuracy, making the billable hour less relevant in today’s fast-paced world.
As Cowling and Desai explain, “AI is not just a tool; it’s an entirely new way of working. The traditional model of charging clients based on billable hours is no longer viable in this AI-driven landscape.”
The Benefits of AI in Advertising
So, how exactly is AI changing the game for advertising agencies? According to Monks, there are several key benefits:
- Increased Efficiency: AI can automate tedious and time-consuming tasks, freeing up valuable time for creative and strategic work.
- Improved Accuracy: AI-driven workflows can analyze large amounts of data and make data-driven decisions with greater accuracy than humans.
- Personalization: AI can help agencies create personalized and targeted campaigns that resonate with consumers.
With these benefits, it’s no wonder that more and more advertising agencies are incorporating AI into their strategies and workflows.
Creatore’s Take
As a premium branding agency in India, Creatore is constantly staying ahead of the curve and adapting to the latest trends and technologies. We believe that AI is not just a buzzword, but a game-changing tool for the ad industry.
Our advice to fellow business owners, CMOs, and marketing heads is to embrace AI and start incorporating it into your strategies. This doesn’t mean replacing your entire team with robots, but rather using AI to enhance and streamline your processes.
At Creatore, we specialize in creating personalized and effective campaigns for our clients, using a combination of AI and human expertise. Let us show you how AI can take your brand to the next level.