In a world where information is plentiful, people’s attention spans are short. Marketers are always searching for new and exciting methods to catch the eye of their target audience. The arrival of AI has completely changed the competitive environment of advertising. It becomes the secret weapon in providing targeted and effective marketing campaigns because it can handle large volumes of data, derive new insights, and automate procedures.
AI-powered marketing technologies, such as predictive analytics, chatbots, conversational AI like ChatGPT, and now search engines with AI ability, are helping firms improve customer experiences and remain ahead of the competition.
But wait..!
The biggest question is, “Are Marketers prepared to fully utilize AI Technology? Do they possess the knowledge and ability to take advantage of this technology to its fullest extent?
If you, too, are a marketer, don’t worry, “Marketers always have Plan B in their hand.” However, we are not going to talk about “Plan B,” but there are things that marketers should keep in their mind before diving into the pool of AI technology.
But before a deep dive, let’s have some AI statistics for marketers “to boost the AI adrenaline.”
Artificial Intelligence Statistics For Marketers (2023)
- The market for artificial intelligence (AI) has a current market value of nearly 100 billion U.S. dollars and is expected to grow twentyfold by 2030, up to almost 2 trillion U.S. dollars.
(Image credit: Hubspot)
- In 2021, the market for artificial intelligence (AI) in marketing was estimated at 15.84 billion U.S. dollars. The source projected that the value would increase to more than $ 107.5 billion by 2028.
(Image credit: Hubspot)
- When questioned about the most important uses of AI by marketers, half of those polled in the United States, Canada, the United Kingdom, and India highlighted ad targeting .
- 26 percent of business-to-business (B2B) marketers that incorporated chatbots into their marketing campaigns saw an increase in lead generation volumes of ten to twenty percent.
- The majority of respondents (73%) believed that artificial intelligence and machine learning (AI and ML) had the ability to affect customer experience (CX) .
Things Marketers Should Keep In Mind While Adopting AI
1. The Human SupervisionTo Ensure Optimal Performance
Although AI has existed for some time, marketers are already familiar with its capabilities. However, recent advances in AI have made it simpler for marketers to implement AI.
Marketers may now save time and effort when building campaigns, tailoring them, making ads, conducting market research, or gathering information about a certain niche with just a few clicks.
However, human supervision is highly essential. It’s important to note that providing prompts to AI requires a certain level of skill and technique to achieve the desired output. To become proficient in this skill, it is important to prioritize prompt engineering. And to do this, only a human or a good marketer who knows how to get AI to work will be needed.
According to Ricky Ray Butler, CEO of BENlabs, which uses AI to place brands’ products in entertainment and influencer content. “There is still human supervision [required] when it comes to data inputs or [telling the AI] what the purpose is to have successful outcomes.”
“What AI really brings to the table is when it comes to the feedback loop,” he said. “It can structure data and a massive amount of data in a way the human mind can’t even comprehend or compute. And it can do that at a scale where it can look at millions and millions of videos and monitor, prioritize and then also…make predictions with successful outcomes or potentially unsuccessful outcomes. We are literally building a brain when we’re leveraging this type of technology to do what the human mind does, but to be able to do it even better and even more accurately.”
2. The Marketer’s Perspective That Holds Significant Relevance In The Marketing
The marketer of a company is the next most knowledgeable person about its products after the CEO and the production division. And only a marketer can figure out how to get that product into the hands of consumers.
And if a business wants to leverage AI for marketing to increase sales and profit, then only a marketer can find out the perspective of the users, their pain points and the challenges they face. AI must be trained to meet specific product and user needs in this case. If you believe that AI can be made to function successfully by totally automating it, then you are mistaken.
It will always be up to marketers to train or to guide AI to meet their individual product requirements and business goals.
According to Pam Didner, VP of marketing at consultancy Relentless Pursuit, “The issue right now is the AI does not have your knowledge of your product, it does not have knowledge of your customers, and it does not have knowledge about the internal politics of your company.” Even the business plan you plan to create is unknown to [AI]. So, AI can produce excellent writing, but you still need to put in some personal touches. That’s where the human element comes in.
3. The Creative Writers For The Optimal Utilization Of Generative AI Writing Tools
In the marketing field, two distinct case types have emerged since the introduction of ChatGPT. There are two potential implications to consider. Firstly, ChatGPT may potentially replace the role of marketers. Secondly, content can be generated for blogs and articles by just providing instructions to ChatGPT.
Both of these cases are incorrect.
As a marketer, it is important to note that ChatGPT is not designed to replace your job. Additionally, it is important to understand that generating content through ChatGPT may not be a lightning-fast process like just entering the prompt and the job is done.
ChatGPT also needs writers who can produce creative outcomes based on specific prompts. AI can provide some assistance when generating content for your audience, but it cannot fully replace the creativity required by content creators and writers. Therefore, the need for skilled individuals in these roles will persist. And you have to use them to get the best results.
According to Anita Brearton, CEO of marketing technology management platform CabinetM, “generative AI writing tools position themselves as writing assistants, not writers.”
She said that the productivity boost promised by these products was their main selling point. “They can make you a faster writer and boost SEO, too.” They are useful for authors gazing at a blank page and needing inspiration. Besides, they are also useful for “refining texts and creating some A/B versions of texts.”
Thoughts
AI has the potential to revolutionize the marketing industry. Both Artificial Intelligence (AI) and Machine Learning (ML) have the potential to enhance and refine existing marketing strategies.
However, as a marketer, if you rely solely on AI, you won’t get a marketing advantage. To successfully implement AI in advertising, one must follow the above key considerations and some necessary skills like prompt engineering.
Now it’s up to marketers to decide whether they want to double their impact by becoming creative with AI or if they want to follow the crowd and do what the AI suggests.
Still confused? Let’s have a word.
