Introduction to the Entrepreneurial Opportunity
My entrepreneurial idea combines two major trends in business today – inbound marketing and artificial intelligence. This section will highlight literature to support these themes as providing opportunity for entrepreneurial activity. First, inbound marketing in its current form evolved roughly with Google's Panda update, as this changed how the search giant's bots evaluated website. Prior to this update, search rewarded sites for activities like keyword stuffing, excessive internal links, and the change placed emphasis on information architecture, and creating quality content. This change heralded a new era of inbound marketing (Wainwright, 2011). Companies could no longer fake their way to the top of Google's listings; now they were rewarded for the richness of their content. This unleashed a wave of trends in marketing, including now every company needs to have blogs that contain not only material about the company and its products, but company sites are rewarded for things like thought leadership as well. With quality the name of the game, thousands of jobs for writers and other content creators were essentially created overnight (Mak, 2014).
Marketers today must act almost like media companies, the content they create being a major contributor to the value that they are creating as a company. This content attracts eyeballs of the target market, and which then feeds into the buying cycle, which is usually short for consumers, and longer for business customers. Technology, especially software-as-a-service (SaaS) tools have become the stock in trade of the modern inbound marketer (Law, 2017). Most of the tools in the average marketer's tech stack still rely on the marketer to be able to create high quality content.
Another major trend in business is artificial intelligence. What exactly this term means is subject to debate, but using computing power that adapts to feedback is the general principle. Early adopters of AI or near-AI technology include marketers seeking to gain an edge in the marketplace. Artificial intelligence, according to many observers, is disrupting the inbound marketing profession, which already relies heavily on applications and automation (Velli, 2017). There are numerous use cases for AI in inbound marketing (Bernzzani, 2017).
The entrepreneurial opportunity involves the application of AI to inbound marketing. Many companies need content creators, but good writers are hard to find, so many companies rely on freelancers. There are a lot of freelance sites out there, but even then, parsing through the thousands of candidates to find the one that fits well with your company is a time-consuming task. Our company intends to use AI to scan the leading freelancer sites and match writers with what you are looking for – what content, what industry, what target market, and other specs. The AI comes into play when data is integrated – who did companies like yours rate highly? What writers have similar profiles to the ones you've had success with? By using the power of Big Data to link up small businesses that need content creators with the content creators themselves, while still allowing the middleman site to take its cut, our AI will add value to smaller companies that want to play the inbound marketing game at the enterprise level, but don't have the capacity to take on full-time content creators.
Value Prop
The value proposition is relatively simple. Most businesses are small businesses. But these do not necessarily have the time to create inbound programs, and especially not to create their own content. Yet there is a world of writers, graphic designers, artists, video producers, and editors out there looking to take advantage of the trends towards inbound marketing. Because there are so many small businesses, and so many content creators, finding the right match between the two is about as easy as finding your soulmate. The reality is that if an AI application can do the work for you, it will save you hours. Not only will you reduce by over 90% the time spent evaluating potential writers, but you'll have a more powerful, data-driven decision-making heuristic than you would otherwise...
References
Bernazzani, S. (2017). AI in marketing: 10 early use cases. Hubspot. Retrieved March 7, 2016 from https://blog.hubspot.com/marketing/ai-marketing-use-cases
Law, R. (2017). 21 inbound marketing tools you'll fall in love with. CoBloom. Retrieved March 7, 2018 from https://www.cobloom.com/blog/inbound-marketing-tools#
Mak, S. (2014). How does Google Panda help marketing? iSmart. Retrieved March 7, 2018 from https://www.ismartcom.com/blog/how-does-google-panda-help-inbound-marketing
Wainwright, C. (2011). Everything marketers need to know about Google's Panda updates. Hubspot. Retrieved March 7, 2018 from https://blog.hubspot.com/blog/tabid/6307/bid/28763/everything-marketers-need-to-know-about-google-s-panda-updates.aspx
Velli, E. (2017) How AI is disrupting the inbound marketing space. New Breed. Retrieved March 7, 2018 from https://www.newbreedmarketing.com/blog/how-ai-is-disrupting-the-inbound-marketing-space
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