The Generative AI market is booming at an exponential rate by revolutionizing industries. Industries like healthcare, finance, and robotics are embracing this technology.
This technology will help businesses to generate new data through existing data. There is significant resistance from users to adopting AI in their workflows. The reason for this resistance is fear of losing their jobs.
Other industry veterans are exploring opportunities to integrate generative AI. Marketing leaders are integrating AI into their work processes to enhance their operations.
Generative AI is an effective tool to enhance the overall customer experience. Marketing teams can optimize their social media strategy by drafting engaging content.
According to a recent report released by Salesforce, nearly 51% of the respondents currently use Generative AI. This report also suggests that almost 22% of the respondents plan to implement this technology. The report also highlights that nearly 53% of the survey respondents consider generative AI a ‘game changer.’
Additionally, this technology will help marketers to evaluate data to identify patterns. Integrating advanced AI tools to determine the current market trends is crucial.
In this article, let’s explore the impact of generative AI in marketing.
Customer operations
Businesses are integrating Generative AI to improve customer and agent experiences. This technology has the potential to reimagine their customer operations completely.
It is an efficient tool to improve the customer experience. Enterprises will also witness an increase in agent productivity. Digital self-service enables to enhance and augment agent skills.
Many businesses have already integrated AI into their tech stack. It is because of its capability to automate customer interactions using a natural language.
Organizations that integrate this technology are witnessing an improvement in resolving client issues. Generative AI will enable businesses to reduce the time required to resolve one customer grievance. This tool will also effectively minimize agent attrition and manager escalations.
Generative AI can disrupt customer experience journeys. It also enhances the agent’s productivity and the quality of service offered. The bottom line of the CX metrics can significantly improve.
It is essential to consider that AI will not always help to improve operations.
Let’s now look at the opportunities for operational improvements using generative AI:
1. Customer self-serve
Marketing leaders are exploring opportunities to integrate AI-driven chatbots. These tools can offer real-time personalized responses to complex customer queries. The best Generative AI tools will offer relevant responses irrespective of the customer’s language.
It assists in improving the quality & efficiency of customer interaction through automated channels. As a result, it will significantly reduce the workload of the teams. Resources will have to focus on inquiries that need human intervention. The following industries have already embraced AI and other tools to respond to customers:
- Banking,
- Telecommunications,
- Utilities.
Businesses can integrate automation at various touchpoints by leveraging the right AI tools.
2. First contact resolution
This technology can quickly retrieve information about a particular customer. Such valuable data will help the after-sales support to respond effectively to client queries. As resources get refined information about the customer, they can achieve first-contact resolution.
3. Minimize response time
Generative AI will reduce the time required for a resolution. This technology also helps to assist in real-time and suggest the next steps.
4. Higher conversion rate
This technology can quickly process customer data and their browsing histories. Enterprises can use this technology to identify product preferences and deals based on client preferences. It is one of the effective strategies to improve the conversion rate.
Businesses can integrate Generative AI tools to optimize quality assurance. These tools gather insights from client interactions to understand improvement opportunities.
The direct impact of using generative AI will be on customer operations productivity. Moreover, a better understanding of the customer needs will help to offer tailored recommendations.
Presales
This technology is an effective tool to ensure customization, content creation, and RevOps productivity. The driving force of text-based interactions and the personalization capabilities are the strengths of this technology.
Enterprises can create tailored messages based on the client’s interests, preferences, and behaviors. It is an effective tool business can use to create brand advertisement campaigns.
Marketers can use Generative AI to create alluring headlines, slogans, and social media posts. Presales teams can write detailed product descriptions with AI tools.
Marketers need to carefully consider their options before integrating generative AI tools. The following are the considerations that CMOs need to consider before integrating this technology:
- AI foundation models get trained on data in the public domain. It increases the risks of plagiarism and copyright infringement. Additionally, there are also potential risks of intellectual property rights infringements.
- The AI models can generate biased representations of particular demographics. Partial or restricted training data is a potential reason for the biasedness.
Hence, there is a need for human intervention for logical and strategic thinking catering to business needs.
Following is the potential impact of using generative AI for marketing:
1. Engaging content creation
This technology can minimize the time needed to ideate and draft content ideas. It is an efficient way to save time and effort of the resources to create content. Generative AI helps to maintain consistency throughout all the content pieces. This approach helps brands to maintain consistency in the brand voice, writing style, and format.
Also Read: Generative AI Ethics and Related Considerations for Marketing
2. Optimized data use
Generative AI will help marketing leaders to overcome most of the challenges of marketing functions. Businesses can overcome the issues of unstructured, irregular, and dispersed data. By leveraging generative AI, marketers can effectively use data:
- To determine the region’s performance.
- Evaluate client feedback and customer behavior.
Based on the results, marketing leaders can develop data-driven strategies to target specific customer profiles. Businesses can leverage unstructured data from various channels to identify market trends.
3. Search Engine Optimization (SEO)
This technology will enable marketers to accomplish a higher conversion rate. Furthermore, enterprises can reduce the marketing costs related to SEO operations. SEO specialists can use Generative AI to create and share content with prospects.
The potential use of generative AI in marketing has benefits beyond productivity. Generative AI tools will offer better insights from the data gathered through all channels. These valuable insights result in strategic data-driven marketing campaigns for effectively-targeted client segments.
