SoMin uses AI to help you do better social media marketing.
The company's AI platform combines advanced data analytics and behavioral science to study data from social media accounts. Their technology then takes that data and provides valuable insights you can use to reduce costs and increase sales across social media and influencer marketing campaigns.
We spoke with SoMin’s CEO Aleks Farseev and Sales Director Hendrik Schwartz to learn more about the technology.
IN A SINGLE SENTENCE OR STATEMENT, DESCRIBE YOUR COMPANY.
SoMin uses AI to transform the way how smart companies advertise to customers on Facebook, Google, and through social media influencers.
HOW DOES YOUR COMPANY USE ARTIFICIAL INTELLIGENCE (AI) IN ITS PRODUCTS?
SoMin uses deep learning and AI technology to discover over 11,000 customer psychographic attributes and behavioral preferences for every brand we work with.
For every digital campaign, this discovered psychographics are clustered intelligently to generate large-scale targeting and smart AI-driven campaign optimizations.
SoMin’s content generation technology creates derivatives of customer content, and automatically A/B tests it across hundreds of AI-generated customer personas. The granular targeting, content generation, and automatic optimizations enhance ad campaign performance substantially by 30% and more.
WHAT ARE THE PRIMARY MARKETING USE CASES FOR YOUR AI-POWERED SOLUTIONS?
SoMin helps businesses optimize all aspects of their digital marketing and influencer marketing funnel on Facebook, Instagram, and Google.
It could be as simple as boosting the reach of a brand, the optimization of return on ad spend (ROAS) in an ecommerce store, or the more complex download and installation of an app to enhance an existing marketing ecosystem.
The large-scale influencer search, analysis, and tracking capabilities complete the job for your organic customer engagements.
WHAT MAKES YOUR AI-POWERED SOLUTION SMARTER THAN TRADITIONAL APPROACHES AND PRODUCTS?
Due to our very granular targeting and constant optimization, SoMin can set up large-scale targeted campaigns that humans can only dream about. All this is done with a few button clicks.
As an example, a campaign set up with over 150 differently targeted ad sets would take less than 90 seconds and will not require any additional maintenance from a marketing professional.
Looking at all of the above, SoMin’s AI-powered solution saves marketers both time and money while also improving their lead volume and overall sales. Most of our ecommerce customers see an immediate and significant uptick in online sales volume, and our customers in retail have seen their offline number spiking by 20% and more.
ARE THERE ANY MINIMUM REQUIREMENTS FOR MARKETERS TO GET VALUE OUT OF YOUR AI-POWERED TECHNOLOGY?
Ideally, clients need to have $3,000 or more a month in advertising spend to have enough learning and feedback in their accounts to be actionable. The platform gets integrated with clients' ad accounts in three simple button clicks. Everything else is handled by AI and automation.
WHO ARE YOUR IDEAL CUSTOMERS IN TERMS OF COMPANY SIZE AND INDUSTRIES?
We are language, territory, and industry agnostic. SoMin’s ideal customers are businesses, such as agencies and advertisers, that have substantial digital budgets. We work with companies that have anywhere from 20 employees up to thousands of employees.
SoMin does well in a wide variety of industries but performs particularly well with B2C industries that exhibit a sizable activity on social media such as fast-moving consumer goods (FMCGs), retail, restaurants, schools, automobile brands, and banks to name a few.
WHAT DO YOU SEE AS THE LIMITATIONS OF AI AS IT EXISTS TODAY?
We believe that it will take a long time for AI to replace human creativity. Indeed, AI transforms the industry by powering up modern marketing platforms, not by replacing marketing jobs.
Should marketers be afraid to be replaced by AI? Definitely not. Do they need to adopt AI supercharging their creativity? Yes. That's what we all need to do to stay in the game.
WHAT DO YOU SEE AS THE FUTURE POTENTIAL OF AI IN MARKETING?
We believe that content and targeting diversity are the key areas where AI will drive the industry.
As we all know, modern advertising platforms, such as Facebook and Google, allow marketers to choose from thousands of options when it comes to ad targeting, dynamic content creation, and campaign optimization.
This scale is possible because advertising platforms use their own AI to categorize audiences and decide who to show the ad to. For humans, it is challenging to make full use of such systems, as they are too complex and consume a lot of time to set up. For AI and analytics, it is an easy job.
No longer will there be mysteries about who the customer is, how they see the product, what marketing activities work, and which activities don’t. As a result, we'll experience less waste and less fraud. Most importantly, the customer experience will be more enjoyable for consumers and they’ll feel more individually catered to than ever.
ANY OTHER THOUGHTS ON AI IN MARKETING, OR ADVICE FOR MARKETERS WHO ARE JUST STARTING WITH AI?
AI is not rocket science, it is just a bunch of mathematical models that help to gain actionable insights from the large data accumulated by the modern world. There is no question of whether AI will be leading and dominating the marketing industry, but rather when it will become an essential component of every marketing routine. So do not be afraid, and try the AI tools to discover the best fit for your job and industry.
ARTICLE WRITTEN BY: PAUL ROETZER
Interviewees: SoMin’s CEO Aleks Farseev & Sales Director, Hendrik Schwartz.
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