A survey revealed that 67% of marketers in the online retail industry are utilising GenAI to create hyper-personalised recommendations. Explore how generative AI in marketing streamlines the marketing process.
Imagine a world where marketers could create a result-oriented strategy with a touch of personalisation, all in a few prompts. Adding to it, they can immediately interact and respond to their customers with a fit-in-need solution. Well, this imagination is already in its initial stages of becoming a reality with generative AI taking the marketing industry by storm.
McKinsey revealed that about 75% of the Gen-AI-enabled use cases fall across four areas: Customer operations, marketing and sales, software engineering, and R&D.
How can Generative AI help global marketers?
Generative AI focuses on creating content besides analysing it. It leverages the capabilities of deep learning models, specifically trained on volumes of data for performing multiple tasks in a human-like manner. Enlisted below are a few ways in which generative-AI-powered tools and integrations are helping brands streamline their marketing strategies.
To streamline the content creation process
With ChatGPT and Bard taking centre stage since its launch, marketing teams are constantly using generative-AI-trained marketing prompts to accelerate their marketing goals and audience psychographics. Various tools have also been developed to help brands create cross-channel content. For example, Sparkyai helps marketers across various industries develop content in a matter of seconds.
To develop tailored marketing videos in seconds
Brands are leveraging the capabilities of generative adversarial networks (GANs) to create their marketing videos. A Generative Adversarial Networks is an AI algorithm for generating data samples from scratch.
For instance, Coca-Cola partnered with OpenAI to launch an AI-engineered campaign titled “Masterpiece,” which fused art and live-action elements for an unparalleled viewing experience.
To create hyper-personalised experiences by analysing customer data
A survey unveiled that 67% of marketers in the online retail industry are utilising GenAI to create hyper-personalised recommendations. This is going to continue forever with a lot of brands entering into the race.
For instance, Nike uses AI to create tailored marketing campaigns based on individual customer data. Sephora has integrated a genAI-powered chatbot for enhanced customer engagement with personalised answers.
To automate marketing processes
With marketers being the core players in gaining brand reputation and customer loyalty, there emerges an opportunity for brands to automate functions between the marketing and other departments. Besides that, retailers are using generative AI algorithms for demand forecasting.
For example, Walmart relies on a generative AI-based demand forecasting system to predict what customers will need at each individual store.
To generate ideas and identify opportunities
Brands and their research and marketing teams use response-ready strategies, further reducing their time to market. They constantly analyse AI-driven insights for sentiment analysis to segment their customers. Additionally, they get a better understanding of the strategies their competitors are using to promote similar products.
For instance, L’Oréal uses GenAI algorithms to analyse millions of online comments, images, and videos for identifying potential product innovation opportunities.
Wrapping it up, Generative AI has created an era of innovations for marketers, and this is going to evolve. All that brands need to do is embrace this change, gaining a competitive edge in this ever-changing digital world.