How Generative AI is Changing the Marketing Industry

As the business sector continues to grow, so do marketing tactics. New types of marketing tactics allow businesses to stay ahead of the curve and gain a leg up against the competition.

One new type of technology that businesses are developing in their marketing tactics is Generative AI.

Generative AI gives businesses a competitive advantage by helping them produce new content for marketing.

It is a sector that is continuing to grow as businesses and marketing develop. In fact, since 2000, there has been a 14x increase in generativeAI startups.

This shows the potential that AI has and continues to have in assisting businesses in growing their marketing reach toward customers.

What is Generative AI?

Generative AI works by feeding a machine algorithm old content. This old content is then produced into iterations with new content.

Some examples of content that Generative AI can produce include simulations, videos, photos, and more.

The new content can help a business transform and grow its marketing into something new and engaging.

Generative AI’s goal is to teach machine learning systems new ways to artificially think. In turn, the goal is that these systems can create new marketing content.

There are numerous ways that businesses are using Generative AI in their marketing tactics.

Some businesses use Generative AI to solve old problems.

Generative AI allows businesses to create new solutions to old problems – thus furthering their marketing.

Numerous different industries engage in Generative AI use. Some industries that have adopted Generative AI into their marketing include legal/ professional services, financial services, and high-tech/ telecom industries.

Other industries include healthcare, retail and consumer goods, and automotive/ assembly industries.

There is a wide variety of industries adapting Generative AI into their marketing, showing its versatility.

The wide use of industries adapting Generative AI into their marketing sectors also shows the growing use of it throughout the business world.

Generative AI use has grown so much that its use has nearly doubled in the past five years.

How Generative AI Can Help Your Marketing

Generative AI is used in many different ways to assist businesses with their marketing.

The most popular use of Generative AI is for email marketing where it is used for nearly 87% of all business marketing tactics.

Besides that, Generative AI is used in market lead scoring and customer service routing, accounting for nearly 83% of marketing tactics.

Generative AI is also used in marketing via fraud detection (64%), cross-selling, and upselling (63%), as well as for service chatbots.

Not only does Generative AI assist businesses with their marketing, but it also assists their growth and productivity.

In fact, Generative AI can help businesses increase their productivity by nearly 40%.

There are a growing number of new AI startups which are creating new generative marketing AI tools and henceforth new opportunities for businesses.

Some examples of these new AI startups include ChatGPT, Make-A-Video, DALL-E, BARD, and NOVA.

The tools that these AI startups create allow businesses to continue to grow and reach more customers.

For example, NOVA is shown to boost marketing results by nearly 60%-170% for businesses.

This shows how Generative AI is successful at helping boost companies’ marketing strategies.

The Future of Generative AI

It is important to note that AI is still a relatively new technology. Generative AI, therefore, is still being adapted into business models.

However, it is allowing businesses and marketing to grow at new paces. Generative AI, according to experts, is creating endless new possibilities for businesses.

For example, it is creating new opportunities for businesses to market and brand to consumers.

Looking toward the future, the possibilities of Generative AI are only continuing to increase.

For example, there is a convergence of IoT and AI. Specifically, 19% of C-suite executives are “focused on harnessing the benefits of AoIT.

This shows the growing use of Generative AI in businesses, specifically in the C-suite.

Moreso, there is a greater reliance on AI marketing automation.

Specifically, 22% of marketers have reported using marketing automation and AI to personalize communication with consumers.

For example, businesses have used AI to personalize emails, offers, and ads to increase marketing and revenue.

Finally, AI is creating more accessibility for small businesses.

In fact, 31% of small businesses have attested to adopting AI tools as opposed to enterprise brands to assist with their marketing.

In Summary

Generative AI is continuing to forge its way through the tech and business world, creating new marketing opportunities which increase business revenue and productivity.