In the ever-evolving marketing landscape, innovation is key to staying ahead. Abhivyakti Ahuja, Founder of aiphrodite.ai, shared her insights on how AI is revolutionizing marketing at the Collision Conference 2024. In this blog, we share her thoughts on the need for innovation, the challenges faced, and the role of sustainability in her company’s approach.
The Need for Innovation in Marketing
Ahuja highlighted the inefficiencies of traditional marketing methods like A/B testing, emphasizing the need for a more innovative approach.
“AB testing has been so slow… and it takes like 20 to 30% of the budget, while not telling you why something’s worked,” Ahuja said. “So I think the industry is ripe for innovation.”
Aphrodite.ai addresses this by predicting ad performance before they go live, using AI personas to simulate different target audience’s decision-making processes.
Allow for Iteration During Innovation
The journey of innovation is fraught with challenges, and Ahuja candidly shared her experiences.
“We made a lot of mistakes and I think we were very build focused. We built something and then we tried to validate and found out that it does not work and no one wants it,” Ahuja said. “So we’ve pivoted a lot and I think that’s where innovation really lies.”
Embrace the Learning Moments
Identifying the right market was crucial for aphrodite.ai. Ahuja advice to fellow entrepreneurs is to prioritize customer feedback. “Talk with potential customers before building,” she said.
Ahuja recounted a particularly pivotal moment:
“We thought influencers would really want it, but then we talked to them after building a prototype and no one wanted it,” Ahuja said. “Then, we just happened to talk to a marketing agency who said they would really need and use that type of tool.”
This shift in focus to marketing agencies underscored the importance of market validation and adaptability.
Consider Privacy and Data Usage
Aphrodite.ai prioritizes privacy and ethical data use. “The city cookies are going away and there are going to be new ways where people will try to get more data and I think we are abstracting that out into synthetic audiences … real people’s data isn’t just out in the open,” Ahuja said.
By creating synthetic audiences, aphrodite.ai ensures privacy while still providing valuable insights for marketers.
How Can AI Transform Your Marketing Efforts?
The future of marketing lies in innovative solutions that leverage AI to predict outcomes and ensure privacy. Ahuja’s journey with aphrodite.ai provides a blueprint for aspiring entrepreneurs to navigate the complexities of building and scaling a tech-driven business. If you’re ready to utilize AI or start your own AI venture, the experienced City Innovations team is ready to help. Reach out to us.
