What Is Generative AI and How Can Marketers Use It Now?
Have you ever found yourself scratching your head, wondering how your competitors are churning out fresh content at lightning speed? It’s like they’ve got a secret weapon, right? Well, they do, and it’s called generative AI.
Brainstorming ideas, crafting engaging copy, and then doing it all over again–it’s a never-ending cycle. Generative AI has the power to support the process of creating human-written and still original content. It’s also capable of providing valuable insights that can help you better understand and serve your audience.
In this post, we’re discussing why every marketer should be using Generative AI in 2023, and 7 specific ways you can start leveraging this technology.
- Generative AI doesn’t just replicate the data it was trained on, but instead learns the underlying patterns and structures of this data to create new content structures.
- 71% of consumers feel frustrated when their experience is impersonal. Generative AI can help tailor marketing messages to fit each customer’s needs and preferences.
- AI generated content still needs to be reviewed, re-written, and edited by a human to make sure it meets your brand’s standards and resonates with your audience.
- According to a recent research study, 73% of marketers in the United States are already using generative AI tools, like chatbots.
What Is Generative AI?
It’s no secret that generative AI’s popularity is on the rise. But what is it? And how can it help you as a marketer?
Image Source: Precedence Research
At its core, generative AI is a type of artificial intelligence that focuses on creating new content. It uses machine learning models to predict words that’s similar to the data it was trained on. This can include a wide range of content types, like:
- Complex designs or patterns
The main appeal of generative AI is its ability to create unique outputs. It doesn’t just replicate the data it was trained on, but instead learns the underlying patterns and structures of this data to create something new.
Why Marketers Need to Use Generative AI
When you take advantage of generative AI, it’s like having an extra set of hands that can create content quickly and efficiently. More specifically, generative AI can help with:
- Personalization. Did you know that 71% of consumers feel frustrated when their experience is impersonal? By analyzing data about our customers, generative AI can help us tailor our marketing messages to fit their needs and preferences. This means more relevant content for our customers, and better results for our campaigns.
- Data Analysis. Generative AI can also help us make sense of all the data we collect. It can spot trends and patterns that we might miss, helping us make more informed decisions about our marketing strategies.
- Scalability. With generative AI, we can create a wide range of content without needing to increase our team size or workload. This means we can scale our marketing efforts quickly and efficiently.
Generative AI can help you create better, more personalized content, make smarter decisions, and scale your marketing efforts. According to a recent research study, 73% of marketers in the United States are already using generative AI tools.
7 Ways Marketers Can Use Generative AI in 2023
1. Content Creation
We all know that creating fresh, engaging content is a crucial part of marketing. But if we’re being honest, it can also be time-consuming. That’s where generative AI can help.
Remember, generative AI uses the data it’s been trained on to create new content. For example, if you feed it a bunch of your best-performing blog posts, it can generate a new post that matches the style and quality of those posts.
The key to success is to know that generative AI doesn’t replace the need for human oversight. Think of it as a helper, not a replacement. The content it produces still needs to be reviewed and edited by a human to make sure it meets your brand’s standards and resonates with your audience. And as a result, your content is more likely to:
- Build trust
- Create an emotional connection
- Help readers understand context
- Represent your brand’s values
Image Source: WordStream
And, by speeding up the initial content creation process, generative AI can free up your team to focus on other important tasks, like strategy and customer engagement.
2. Customer Segmentation
Understanding your customers is key, and one of the best ways to do that is through customer segmentation.
Customer segmentation involves dividing your customers into groups based on characteristics like their:
This can help you tailor your marketing efforts to each group, making your campaigns more effective, but it can also be a complex process.
Generative AI can analyze your customer data and create detailed customer segments. It can spot patterns and trends in the data that might be hard for us humans to see.
Using generative AI to your advantage can ultimately the guesswork out of customer segmentation, helping you deliver more personalized and effective marketing campaigns.
3. Predictive Analysis
When it comes to predicting the future of your marketing campaigns, you can’t rely on a crystal ball. But, generative AI might be the next best thing.
A staggering 63% of marketers are already using generative AI to analyze market data and forecast future outcomes.
Image Source: MNTN Research
When it comes to predictive analysis, generative AI analyzes past data to help marketers understand which marketing strategies will be most effective, or how a customer might respond to a new product.
For example, it might analyze your sales data history to predict which products are likely to be best-sellers in the coming months. Or, it could analyze customer behavior data to predict which customers are most likely to make a purchase.
With the help of generative AI, you can make more informed decisions and stay one step ahead in your marketing strategies.
4. Chatbots and Customer Service
Next on our list of generative AI applications is something you’ve probably interacted with before: chatbots.
Chatbots can be a game-changer for customer service. They’re always available, they can handle multiple queries at once, and they never get tired. Plus, they can provide instant responses, which is a big win for customer satisfaction.
Here’s how it works: Generative AI uses the data it’s been trained on to generate responses to customer queries. For example, if a customer asks about your return policy, the chatbot can provide a detailed response based on the information it’s learned.
Generative AI can also personalize these responses based on the customer’s information. So, if a customer asks for product recommendations, the chatbot can suggest products based on the customer’s past purchases or browsing behavior.
5. Ad Optimization
Ad optimization ensures that your ads are as effective as possible. This could mean:
- Tweaking the ad copy
- Changing the design
- Adjusting where and when the ad is shown
It’s a lot of trial and error, and it can be a time-consuming process.
Luckily, generative AI can help by analyzing your past ad performance to suggest improvements. It might notice that ads with a certain type of image perform better, or that ads shown at a certain time of day get more clicks.
Generative AI can also test different versions of an ad to see which one performs best. This can help you make data-driven decisions about your ad strategy, without having to rely on guesswork.
6. Social Media Monitoring
Social media is a goldmine of customer insights. But keeping track of all those comments, likes, and shares can feel like trying to drink from a firehose.
Generative AI can help by analyzing social media data to spot trends and patterns. For example, it might notice a spike in mentions of your brand after a certain campaign, or it could identify common themes in customer comments.
It can also generate reports or alerts based on this analysis. So if there’s a sudden increase in negative sentiment about your brand, generative AI can let you know so you can respond promptly.
And, since generative AI works in real time, you can stay on top of the social media chatter without having to constantly monitor every single post. To learn more about social media monitoring with generative AI tools, check out the video below.
Video Source: Liam Evans
7. Product Development
Creating a new product or improving an existing one is no small task. It involves:
- Understanding customer needs
- Brainstorming ideas
With the help of generative AI, you can analyze customer feedback and market trends to generate ideas for new products or improvements to existing ones. For example, generative AI might notice that customers are asking for a certain feature in your product reviews, or it could spot a trend in the market that your product could tap into.
Generative AI can also help test your ideas. It can create a virtual prototype of a new product and simulate how it would perform in the market. This can help you refine your ideas before you invest in developing them. This means you can iterate on your ideas faster and get your products to market quicker.
All Aboard the Generative AI Train
As we move forward, it’s crucial for us marketers to understand and embrace technologies like generative AI. It’s not just about keeping up with the latest trends, but about staying ahead of the curve and delivering the best possible results for our businesses and our customers.
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