TL;DR:
- Momentum Worldwide secures patents for AI and ML applications in experiential marketing.
- AI enhances personalized experiences and precise measurement of campaign success.
- Coca-Cola and Walmart have already tested these innovative solutions.
- Experiential marketing adapts to a smartphone-first, generative AI-driven world.
- Momentum’s MLIUI system addresses data ingestion, processing, pattern recognition, predictive modeling, and real-time adaptation.
- This innovation enables brands to predict market trends and behaviors, driving more effective marketing strategies.
- Momentum’s long-term vision is for AI to emulate human reasoning and provide meaningful insights.
Main AI News:
Momentum Worldwide, an experiential agency within Interpublic Group (IPG), is making a bold move by harnessing the power of artificial intelligence (AI) and machine learning (ML) to enhance the world of experiential marketing. In an exclusive reveal, Marketing Dive brings you the news that Momentum Worldwide has secured three groundbreaking patents in the realm of ML-driven experiential marketing, solidifying its position as the pioneering agency in this category.
The Impact of AI and ML on Experiential Marketing
These patents represent a significant step forward in the world of experiential marketing. By leveraging machine learning, Momentum Worldwide aims to offer clients highly personalized experiences while also introducing a new level of precision in measuring the success of these endeavors. Notably, global brands such as Coca-Cola and Walmart have already tested and experienced the benefits of these innovative solutions.
Elena Klau, Chief Strategy and Product Officer at Momentum Worldwide, commented, “Having these capabilities means brands can finally connect the dots across experiences for the first time. We are at an important inflection point where the technology and data investments we made years ago to secure these patents are finally being actualized for clients.”
The Evolution of Experiential Marketing
Experiential marketing has evolved into a complex, multichannel endeavor, necessitating careful planning and budget allocation. Today’s campaigns not only incorporate digital and mobile elements but also rely heavily on generative AI, as exemplified by Coca-Cola’s recent promotion. Coca-Cola’s “Coke Studio” at music festivals allowed visitors to create original music tracks, album covers, and videos with the assistance of AI software, including ChatGPT.
Jason Alan Snyder, Global Chief Technology Officer at Momentum Worldwide, emphasized, “You have augmented reality, mixed reality, virtual reality, and what’s happening in the Web3 space. All of those things have to be connected in modern marketing.” He further explained that the patents embody the apparatuses, methods, and systems enabling this interconnectedness.
Personalization, Precision, and Proving ROI
Initially, Momentum is focusing on bringing a deeper level of personalization and precision to branded events like Coke Studio. However, the patents are also expected to provide insights into how physical experiences impact sales—a longstanding interest for CMOs seeking to demonstrate the tangible results of creative marketing endeavors.
Snyder elaborated, “The golden goose, for lack of a better term, in experiential is the ability to say, what’s the value of this? If I do these things, what’s the ROI? It doesn’t necessarily work like traditional media.”
Staying Ahead of the Curve
Momentum’s journey into AI and ML began in 2016, with patent filings occurring a year later—well before AI became the marketing buzzword of the moment. The agency had previously collaborated with IBM’s Watson, a pioneer in AI, and is currently forging partnerships with sister agency Acxiom, as well as industry giants like Palantir, Google, and Microsoft.
The Unified Power of MLIUI
While Momentum holds three patents, they function cohesively as a system called Multidimensional Machine Learning Data and User Interface Segment Tagging Engine Apparatuses, Methods, and Systems, or MLIUI. MLIUI is not a standalone product but rather an enhancement to Momentum’s existing Total Brand Experience offerings. This investment in ML is complemented by IPG’s recent forays into quantum computing with partner D-Wave, aimed at solving data-intensive problems with greater speed and efficiency.
Key Areas Addressed by MLIUI
MLIUI addresses five critical areas for experiential marketers:
- Ingesting a high volume of data from various sources.
- Processing and analyzing this information.
- Identifying patterns within the data.
- Developing predictive models.
- Offering real-time adaptability.
Snyder likened the process to watching a “multi-layered movie,” where brands must keep track of various plots and characters to understand how they interrelate. The ultimate goal is to grasp broader market trends and behaviors.
Snyder noted, “[MLIUI] analyzes and understands the interplay between the various data sources and the features to provide a comprehensive, multi-dimensional view into the market and consumer behavior. This empowers our clients and brands to create marketing strategies that aren’t just reactive but predictive.”
The Human Touch of AI
Looking ahead, Snyder holds the same hope for AI that many do—that it will soon more closely emulate the human touch. He envisions a machine that not only provides data but also imparts meaning and insights, much like a human analyst.
“We wanted a machine that would think and reason more like a human analyst, providing not just data but meaning for answers and insights. Not just telling you it’s going to rain, which is data, but why it’s going to rain,” Snyder concluded.
Conclusion:
Momentum Worldwide’s groundbreaking use of AI and ML in experiential marketing signifies a significant shift in the industry. This innovation empowers brands to deliver highly personalized experiences and measure success with precision, all while adapting to the evolving landscape of modern marketing. It heralds a future where AI will provide not just data but meaningful insights, revolutionizing how brands connect with consumers and drive results.
