Artificial intelligence (AI) is rapidly transforming the marketing landscape, but many marketers are still grappling with how to effectively harness its power. While some are using AI to automate routine tasks and generate content, the true potential lies in tackling the toughest strategic challenges. Brian Watroba, chief technical officer at a leading marketing firm, believes that the amount of leverage AI creates is proportional to the skill of its user.
Just as a skilled pianist can create a symphony on a Steinway grand piano, a skilled AI user can orchestrate a range of models to tackle complex marketing problems. Different AI models excel at different tasks, from computational performance and logical reasoning to nuanced writing and creative tasks. By adjusting the “temperature” of each model, experts can control how creative or conservative the outputs will be.
However, most marketers are currently limited by their narrow focus on ChatGPT, just one of many AI models. They are confusing an unskilled player for a broken piano, failing to recognize that AI’s capabilities are constantly expanding. As AI becomes increasingly sophisticated, the competitive edge will belong to marketers who know how to ask smarter questions than their rivals.
For example, rather than measuring brand awareness, marketers should focus on mental availability – whether their brand comes to mind in specific buying situations. AI can revolutionize traditional marketing strategy, which has long been a costly and time-consuming process. By using AI for tasks like segmentation, targeting, and positioning, marketers can rapidly test different strategic combinations and evolve their strategy in real-time as market conditions shift.
Despite the hype surrounding AI, its true potential remains largely untapped. Those who master the AI symphony will lead the future of marketing, while those who dismiss it as overhyped risk being left behind. The integration of AI into marketing technology (martech) is not just a passing trend, but a foundational shift reshaping the industry.
AI’s role spans data-driven decision-making, personalization, and automation, driving efficiency and enhancing customer experience.
Harnessing AI for marketing strategy
The data revolution further complements these advancements, providing marketers with the tools to process vast amounts of information and extract valuable insights.
By 2025, the global data sphere is expected to reach 175 zettabytes, necessitating the use of AI for effective data management. AI employs advanced techniques like machine learning, natural language processing, and data mining to address these challenges. However, challenges persist in managing and utilizing data effectively, including ensuring data quality, integrating disparate data sources, and navigating privacy concerns.
Looking ahead, the potential for AI in martech is staggering, with innovations in predictive analytics, conversational AI, and content generation set to redefine the marketing landscape. Businesses that embrace AI as a core component of their martech strategy will be better equipped to meet the demands of an ever-evolving digital marketplace. Despite some hesitation, brands are increasingly adopting AI to enhance both creative and operational processes.
A beverage giant’s AI remake of its renowned “The Holidays are Coming” ad received acclaim for its quality, while an ad showcased at Cannes was created entirely using a cutting-edge text-to-video tool. Leading firms are employing AI to support various creative endeavors, from generating visuals to complement human-conceived concepts to creating vibrant profiles of animals up for adoption. AI’s operational benefits are equally significant, with chatbots capable of performing the equivalent work of hundreds of human employees.
Investment in AI by advertising agencies has been robust, with leading companies pledging hundreds of millions toward the technology. A Forrester survey revealed widespread engagement with generative AI among ad executives, underscoring the industry’s acknowledgment of AI’s value in improving ad precision and tailoring messages. However, concerns about AI persist, with many multinationals uneasy about how their agencies utilize generative AI.
Legal, ethical, and reputational risks remain significant worries, and many clients still value the human touch in storytelling. As AI continues to evolve, its potential to enhance both creative and operational facets of advertising becomes more apparent. The technology is poised to become indispensable for brands, enabling them to tackle practical problems at significantly lower costs while still maintaining the importance of human creativity in branding.
