The Role of Artificial Intelligence in Marketing

Every industry learns to adapt to advanced technologies and implement these technologies into their business plans and strategies. To stay relevant and contemporary marketing must implement artificial intelligence (AI) in their campaigns. Although the idea of artificial intelligence may seem overly futuristic and foreign, the technology has already infiltrated many common technologies. If you’ve used the glasses filter on snapchat or turned on a streaming service to see recommended suggestions, you are already familiar with AI algorithms. 2019 will be a turning year for the role of AI in marketing. Marketing professionals such as, Mark Crumpacker are a great resource for helping your business be ahead of the competition and leverage the power of successful marketing tactics.

Artificial Intelligence: What it Means for the Marketing Landscape

To many, artificial intelligence is a foreign concept. Artificial intelligence technology is a valuable tool for anticipating your customers actions and providing them a better product journey and story. The age old problem with marketing has been finding a way to source and understand the abundance of data that exists in the evolving landscape of the Internet. In the past couple of years, AI algorithms and machine learning have arisen as the analytic answer.  These technologies provide marketers with big data, or data that is too complex to be understood by humans and requires computational analysis. With access to detailed and intricate data sets marketers can create stronger campaigns and companies can see higher ROI.

Benefits of Using Artificial Intelligence in Marketing Campaigns

Artificial intelligence has entered the marketing landscape with many advantages for marketing teams. Boiled down, the technology makes all your strategies smarter and more refined. A closer look at the advantages of this revolutionary technology can help marketers understand the power of leveraging this valuable tool.

Streamlined Content Creation

AI allows marketers to take their content creation to the next level. The data sets provided by AI technology dig deeper into demographics allowing marketing teams to see individuals- to understand their customer on an intimate level. With advanced data, marketing teams can target customers in an individualized and refined manner.

More Effective Keywords and Searches

In 2019, AI technology has made search engines smarter and faster than ever before. In return, internet goers have become more savvy and streamlines in their journey to find a product or service- they’re searches are smarter. Marketing teams can leverage AI technology to understand and analyze the search patterns of their customers and streamline efforts in a specific area.

Customer Service and Engagement

AI is beginning to shape customer service and engagement strategies. Many companies utilize some form of a chat function to gain direct access to their customer and interact with them on an individual basis. AI bots are cost effective and smarter options for providing high quality customer service. Companies can take resources they have traditionally used for customer service and distribute them in areas requiring more attention.

AI is quickly transforming the world of marketing. The groundbreaking technology allows marketing teams to understand customers as individuals, streamline strategies, and see higher ROI’s.

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Separating the Wheat from the Chaff: Debunking 4 Popular Myths about Installment Loans

If you have an idea what a car loan, mortgage, personal loan and even the much-loathed student loan is, then you already know about installment loans!

With this loan type, you borrow a particular amount of money, agree on the repayment schedule with the lender and finally start servicing it back on a regular schedule. Incredibly, for every amount repaid, the balance reduces, which, of course, is a good thing since it doesn’t earn interest as time goes.

Easier than breathing, right? 

 But owing to the glamor around this loan, worrywarts spread false information, perhaps to entice the unsuspecting to take a short term installment loan from them. One will tell you that by diligently repaying your student loan, your credit score will dramatically shoot up. Another one will be all over, convincing you that you cancel that credit card and BOOM, your score increases.

The two are not the only myth about installment loans, apparently. As you are about to discover, there are countless half-truths and urban myths surrounding this type of loan. And the sad thing is, seems everyone thinks they are true.

Let’s look at the four most popular myths about installment loans:

  1. When it comes to mortgage loans, they’ll say you can’t be in debt and still buy a home

 There are much more bizarre installment loan myths, but this one is perhaps the most prevalent. And I’ll agree a debt can affect your ability to own a home. But it CANNOT impede you from buying one!

If this were the case then all these souls walking up and down before us, hiding their student loan debts or servicing car loan payments, would have been jailed long ago. Or probably they would not be looking rich. See, the bottom-line that mortgage lenders look at is the size of debt vis-à-vis the cadre of one’s entire income, what’s generally known as debt-to-income ratio.

  1. They’ll tell you to meet the STRICTLY 20% down payment

This canon was scrapped a while ago, making it convenient for anyone to own a car or a home via an installment loan. Some would require as little as 6% of even a mere 3.5%, especially the popular FHA loans. Others like the Veteran’s Administration incredibly don’t need any down payment at all. Just remember that with a bigger down payment, you increase your chances of getting the loan.

  1. They’ll tell you to always carry a credit card balance

Just because you have a student loan and you’re desperate to increase your credit limit doesn’t mean you believe this lie. Don’t starve so that some few bucks can “keep your card active” when doing so is utter stupidity. Instead, “use credit to build credit” if you know what that means.

Simply put, apply the credit utilization concept of 30% or less. Remember, by keeping a smaller credit balance, your credit utilization ratio automatically reduces, something that subsequently boosts your credit score. Use the card and pay off the debt promptly, period!

  1. Once you have a negative entry as a result of that installment loan, it will take 7 years to erase it! 

If you’ve never encountered this lie, then you haven’t traveled these roads. The truth here is, any negative entry can be erased before the seven years are over. There are various ways of doing it, including writing to them with explanations. You dispute with facts and that red sign is cleared!

Changes You Can Expect From the Trump Tax Reform

Changes You Can Expect From the Trump Tax Reform

Virtually every year, tax laws and guidelines change. While that is a given, even more change can be expected when a new administration takes over with a different political ideology from its predecessor. This can affect the way funds are collected and redistributed which, in turn, can affect what you will pay to the IRS or get back for a refund. Beginning in 2019, you may notice changes from trump tax reform enacted in 2017.

Impact on Average Taxpayers

The main takeaway from the new tax policies is that average taxpayers will likely only see minimal overall benefits regardless of the changes if any unless you are the top 1% of households who will likely see benefits within the next several years. With tax brackets redefined, if you compare your projected rates from even a year ago, you can see that not only is there an increased range for each bracket, but the percentages for each level have also been reduced. While this may seem like it may translate to higher gains, that is not necessarily the case. For example, since itemized deductions and personal exemptions are no longer applicable, any gains from tax bracket updates will be less noticeable when it boils down to the overall dollar amount. This may be similar to what small business will experience.

Deductions

Another significant difference is the changes in deduction terms. Some of these include:

  • Numerous miscellaneous deductions from previous tax year eliminated
  • Itemized deductions only accepted for those living in disaster areas designated by the president, and for members of the armed forces
  • All personal exemptions have been eliminated
  • Standard deduction has almost doubled
  • No more deductions or reporting of alimony
  • Increase in child tax credit, and a new $500 credit for qualifying adult dependents
  • Estate tax exemption doubled
  • The threshold for medical expenses decreased to 7.5% from 10%
  • Deductions for state and local taxes now capped at $10,000

 

Impact on Businesses

On the flip side, if you are the owner of a larger business, the new tax plan is likely in your favor. With political leanings traditionally in favor of businesses, it’s no surprise that the tax reform is good news for those who fall in this category. For example, the corporate alternative minimum tax will no longer apply, and instead of a sliding scale used in previous years, corporate tax income is now a flat rate of 21% compared to 35%.

 

Another Notable Change

Those with education accounts will see some changes. The new tax plan allows for more flexibility in some types of student loans. For example, the discharged student loan debt due to disability or death is will not be categorized and taxed as income anymore. Also, 529 plans can now cover educational expenses for primary school as well instead of just higher education.

 

Check for Yourself

To get a better understanding of what numbers to expect, there are a variety of resources that can help you to do that even before sitting down to officially calculate your taxes. Whether you are doing your taxes yourself or enlisting the help of an accounting professional, it can be helpful to get a few estimates before your final submission. Consider online calculators that factor in these new changes if you are tackling your taxes on your own. Or, before submitting to a professional, free-to-low cost accounting software can give you figures that you can use to cross-check with your accountant.