James Praise, Growth & Marketing Strategist, speaks in this interview with BusinesDay’s Chinwe Michael on the application of artificial intelligence (AI) in unlocking the future of customer-centric marketing.
With the emergence of AI changing the narrative of the business sphere, how have marketers been able to adjust to the growing trend?
AI integration in marketing has been transformative, driving rapid evolution in areas like content creation, digital advertising, data analytics, customer segmentation, and personalized content delivery. This technology empowers data-driven decisions, enhancing targeting precision and overall campaign effectiveness.
An exemplary advancement is the integration of AI language models like ChatGPT in marketing communication. ChatGPT aids in content creation, generating blog posts, social media updates, and advertising copy, saving time and fostering creative thinking. Its role extends to customer interactions, enabling instant responses and personalised engagement through integrated chatbots, ensuring 24/7 customer support and boosting satisfaction and loyalty.
In market research, ChatGPT analyses and summariss vast textual data for quicker and more insightful decision-making. In digital advertising, AI optimises and personalises campaigns through algorithms analysing user behavior. Programmatic advertising, driven by AI, optimizes real-time ad placements based on user engagement, maximising impact.
Social networks use AI to analyse user behavior and recommend personalised content. Netflix’s success with AI-driven recommendations showcases its impact on content delivery. AI-driven analytics tools, like Google’s Smart Bidding and Google Analytics, empower marketers to optimise ad performance and understand user behavior, ensuring efficient budget allocation and tailored messaging.
What are the challenges to it?
One big challenge with AI is in terms of data privacy and ethical considerations. How do we ensure that AI algorithms are transparent and unbiased? Transparency is difficult, considering the ‘AI black box’ phenomenon, where the inner workings of AI systems are opaque and difficult to interpret. This lack of transparency raises concerns about accountability and the ability to understand how AI makes decisions. When marketers and businesses can’t decipher the reasoning behind AI-driven insights or recommendations, it becomes challenging to build trust in the technology.
Biased data intensifies AI challenges, perpetuating societal biases in decision-making, as seen in CV screening AI systems. Addressing this requires meticulous data curation and ongoing bias mitigation efforts. Concerns about AI’s impact on employment arise, especially in automating routine tasks, potentially displacing workers. The Cambridge Analytica scandal underscores the importance of responsible AI in data-driven marketing. Marketers face a learning curve in effectively leveraging AI tools, emphasising the need for a balanced approach that combines automation with the human touch. Transparency, ethical data use, and continuous education are vital for fostering a responsible AI-driven marketing landscape.
Can AI content be compared to human-mind content?
AI-generated content has made significant strides, but it still lacks the nuanced creativity and emotional intelligence inherent in human-generated content. While AI can efficiently analyze data to tailor messages, the innate ability of the human mind to understand cultural nuances, emotions, and context remains unparalleled. I believe AI can complement human creativity, helping automate routine tasks and allowing marketers to focus on strategic, inventive aspects of content creation.
OpenAI’s GPT-3 for example is capable of producing coherent text, based on content guidelines, however, AI cannot conceptualise authentic strategies as successfully as Coca-Cola’s emotional storytelling campaigns. AI can complement human creativity, but the authenticity and emotional depth in such campaigns showcase the unique capabilities of human-generated content.
How would you incorporate AI into the product strategy to gain a competitive advantage in the market?
AI is integral to our product strategy, enabling deep market trend analysis and consumer behavior prediction. In email marketing, platforms like HubSpot and Marketo use AI algorithms for effective audience segmentation and personalized campaigns, boosting engagement. Product analytics tools like Mixpanel, coupled with AI-driven recommendation engines like TensorFlow, refine datasets for accurate personalised suggestions. AI-powered chatbots play a vital role in our Product-led Growth strategy, offering efficient support and a seamless user experience. Further, AI drives personalisation in dynamic webpages and pricing optimization, optimising user journeys and facilitating continuous A/B testing for iterative improvements.
How are customer tastes impacting the marketing industry? How do marketers get the right product available to them at the right time?
Understanding customer tastes requires a multi-faceted approach. Market research tools like SurveyMonkey and Google Trends provide foundational insights, guiding marketers in tailoring campaigns.
AI-driven digital advertising platforms, including Facebook Ads and Google Ads, utilise machine learning to optimise targeting, ensuring precise messaging delivery. Product analytics tools such as Mixpanel enable real-time monitoring of customer behavior, facilitating personalised recommendations. This integrated strategy aligns products with evolving tastes, creating a seamless and anticipatory customer experience.
As a product manager, what influences consumers’ needs?
Understanding and meeting consumer needs as a product manager involves staying connected through active conversations, feedback collection, and leveraging AI. Regular interactions provide insights into preferences, pain points, and desires, forming a crucial feedback loop for refining existing products and envisioning new ones aligned with evolving consumer needs.
How do you see AI evolving and impacting the business landscape of marketing in the next 3-5 years?
AI competition will drive innovation, its fusion with AR and blockchain will redefine customer engagement, and strategic acquisitions will intensify, replacing routine marketing tasks.
