New marketing strategies are emerging each year, and staying ahead of the curve is important to ensure that businesses stay relevant in their customers’ minds. Generative AI is the newest groundbreaking advancement in marketing strategy, and the technology is reinventing the way marketers engage with their audiences.
Generative AI is an algorithm that is fed existing content to create new content including audio, pictures, videos, and simulations. The goal is to teach these algorithms to “artificially think” and create new content. Since generative AI is so good at recognizing patterns, it is very useful in marketing strategies, as patterns are some of the best ways to create content consumers will remember and recall in the future.
In the last 5 years, use of AI in marketing has more than doubled because all industries are understanding the many uses for this technology. 83% of generative AI technology is used for marketing lead scoring and customer service routing. Other uses include email marketing, fraud detection, cross-selling and upselling, and service chabots.
With technology automating much of the smaller tasks of marketing strategy, business productivity can increase by ip to 40%. This is because marketing experts are able to focus on new areas of growth while letting AI handle things like customer service chats, emails, or posting new content.
While generative AI has already transformed the way business’ market, there is still much on the horizon. It is predicted that there will be a greater reliance on AI marketing automation in the future. 22% of marketers are expected to use marketing automations to personalize offers, emails, and even ads. 31% of small businesses have already adopted AI tools to help with marketing tasks, and it is expected that AI technology will become more accessible to these smaller brands in the future.
To learn more about the benefits of generative AI in marketing strategies for businesses, take a look at the infographic below: