©Boris SV/gettyimagesRecently, generative AI has revolutionized the way we can do marketing. Thanks to advanced machine learning algorithms and deep neural networks, marketers can use AI to quickly process large amounts of data from social media, email, and the internet. In conjunction with marketing automation, AI can be used to enable the transformation of data into decisions, meaningful interactions, and positive impacts on business outcomes. AI marketing helps collect data, gain consumer insights, and predict customers’ next steps. And the recent addition of generative AI in the form of text- and image-generating tools such as ChatGPT has expanded its marketing applications even further.
According to a survey recently conducted by Accenture, companies that already embed AI in their structures have an average of 50 percent higher revenue growth than their competitors and perform better in terms of customer experience and sustainability. “We expect the number of AI adopters to increase significantly and more than double by 2024 – from 12 percent to 27 percent.” (Accenture)
Using AI to predict the success of marketing initiatives is a massive tech trend that will continue for many years to come. In this article, you’ll learn how machines and humans can work together and how marketers can benefit from AI applications such as ChatGPT.
Everybody’s talking about ChatGPT
ChatGPT is a powerful tool – but it has its limitations, which shouldn’t be ignored, as in some cases AI delivers incorrect or meaningless results.
If you’ve already worked with or tried out ChatGPT: Did you notice that the answers are quite formal and lack emotion? A company’s personal voice that customers identify with is essential for the success of marketing activities. ChatGPT should also be used with caution as a source of factual, scientific information because the tool is capable of creating plausible-sounding “hallucinations”: false information that even experts have difficulties identifying.
The latest version, GPT-4, is supposed to deliver better results, as OpenAI announced on March 15, 2023. According to a video posted on the company’s website, the AI can now understand images and write about them. In addition, ChatGPT-4 is capable of producing eight times more text than its popular predecessor. In a simulated lawyer’s exam, the AI – which costs 22.25€ a month – was among the top ten percent of all participants.
All users of AI tools must be aware of their limitations to avoid inadvertently disseminating false information. The key is to find a good balance, using AI as a support for human creativity.
©Teera Konakan/gettyimagesGenerative AI for smart marketing?
Experts believe that using AI in marketing can increase the ROI more effectively than any other technological innovation that came before. But tapping the full potential of AI in marketing is a skill that needs to be trained continuously in order to reap the short- and long-term benefits alike.
How to implement AI in your marketing activities:
- Content Creation: One of the most important ways generative AI can be implemented in marketing is in content creation. By using machine learning algorithms, AI can create high-quality content in various forms, such as texts, images, and videos. This revolutionary technology enables marketers to create a large amount of content quickly and easily. The Marketing Artificial Intelligence Institute has named HubSpot the best AI-powered content generation and strategy tool. HubSpot uses machine learning to help marketers discover high-quality, high-performing content ideas and validate those ideas in the most efficient way.
- Predictive Analytics: Generative AI can predict customer preferences and behavior patterns. Companies can provide their target audiences with tailored offers that they are more likely to accept on the basis of previous deeper research. This technology enables marketers to make data-driven decisions and create precisely targeted marketing campaigns, which results in an increased ROI.
- Chatbots: Chatbots are automated bots that can interact with customers in real-time, providing them with information, answering questions, and assisting with purchases. They are comprehensive, adaptable, and intelligent, providing users with a more lifelike experience. Furthermore, Chatbots are beneficial to businesses because they are ideal for data collection, dramatically reducing staffing needs and breaking down barriers. One popular tool is Tidio.
- Image and Video Analysis: By using deep learning algorithms, generative AI can analyze images and videos and identify key features, such as faces, objects, and emotions.
- Personalization: Personalized results can be delivered through relevance evaluation and content playout based on the user’s behavior.
The technology sounds promising, but how can it be put into practice?
For marketing activities, Jasper is a popular AI text generator tool with ChatGPT functionalities, AI image generators and copywriting software. Jasper can cover more than 50 copywriting tasks, e.g. creating blog post outlines, blog post intros, product descriptions, emails, Google and Facebook ads, Facebook ad headlines, social posts, and descriptions for YouTube videos. These are just a few examples of how AI can already deliver inspiration and input.
In general, you don’t need any structure to give the AI a prompt. In other words, there is no right or wrong way to formulate your request, although the results can differ considerably, depending on how detailed it is – so the more precise, the better!
Possible modifiers to help you tap the full potential of AI tools and optimize your requests are: Task, Style, Emojis, Length, Target audience, Topic, Call to Action, Structure, and Language.
As mentioned above, fact-checking and/or human input is required to ensure the accuracy and correctness of the results.
©Yuichiro Chino/gettyimagesHow to implement AI at companies
To get started with AI marketing, marketers need to access a large amount of data. To get the right programs up and running, companies can work with third-party developers who can help with data collection and analysis, train the AI systems, and provide ongoing support.
Here are three aspects that are important to consider when implementing AI at companies:
- People: Above all, AI needs to be accepted by the company’s employees. They must recognize the legitimacy of the technology, accept its introduction, and understand that it doesn’t make human employees redundant; it makes their work easier.
- Systems: The technology in the company must be set up in a way that connects AI to internal systems through multiple integration points. This should not disrupt any workflows.
- Organization: The introduction of AI will mean changes in processes and thus in the company organization as a whole. Its implementation will mean new task structures for humans and machines in marketing.
Where will the journey with AI in marketing take us?
In conclusion, AI has revolutionized marketing by using machine learning algorithms to create content in seconds, predict customer behavior, personalize marketing campaigns, and provide real-time customer support. Companies can use big data to better understand what motivates their customers and what values are important to them. This leads to better data management through structured processing, and therefore to better prediction accuracy.
Marketers should be aware that generative AI can help automate certain aspects of marketing campaigns, but creative thinking remains an important part of developing effective marketing strategies. When it comes to creativity – one of the most important aspects of marketing – humans are irreplaceable. The AI can’t understand your customers the way your marketing team does!
Today’s customers want a personal connection with the company, and this requires a human touch in all marketing activities, which is not (yet) possible with AI. If companies create their marketing messages with extensive help from AI tools or exclusively rely on them and customers find out, it can lead to a loss of trust. To avoid negative experiences, it is important to strike a balance between the potential of AI and human beings.
As technology continues to evolve, we can expect generative AI to play an even more significant role in marketing in the years to come. Join us on the journey of discovering its potential!
©asbe/gettyimagesThe post How generative AI can help marketers take their work to the next level appeared first on Bosch Digital Blog.
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March 31, 2023 at 07:55AM by , Khareem Sudlow
