Top 4 Generative AI Use Cases For Marketing and Advertising
Last Updated on: December 1, 2023
Conversations about artificial intelligence are making rounds and by now, almost all of us have heard them, joined them and left our valued opinions.
This makes it pretty needless to say that AI is transforming industries because that’s something we already know!
The magnitude of AI adoption can be experienced through a report published by McKinsey stating that AI adoption has doubled since 2017. Organisations that adopted AI have observed a significant reduction in cost and an increase in revenue.
Generative AI is gradually becoming a star ingredient of AI adoption across industries. So much so that we can’t really talk about artificial intelligence without including Generative AI.
Generative AI needs no introduction as platforms like ChatGPT, Bard, Dall-E, etc., have already made it a household name. There are many industries leveraging this technology and marketing and advertising is no expectation.
In this blog, we will uncover the top 4 generative AI use cases for marketing and advertising. So let’s dive in!
1. Content Generation
Marketing and advertising are all about persuading customers through powerful content and thus the first use case comes as no surprise. Generative AI is already being used massively for generating content. In fact, the introduction of Generative AI to the world was through ChatGPT by OpenAI, a platform that has distinguished itself as a content-generation machine!
But ChatGPT is not alone, there are numerous gen AI platforms available today that have simplified content generation, especially on a mass scale. According to the latest report by Hubspot, 90% of marketers find generative AI quite effective for content creation.
Content creation is a taxing and time-consuming process. From coming up with a concept to developing and delivering it, is not a piece of cake and any writer would agree! However, with Gen AI, writers and marketers can save up to 3 hours in creating every piece of content!
Here’s what all marketers can achieve with generative AI:
- Brainstorming around various content ideas.
- Enhance existing content.
- Produce new, personalised content.
- Re-purpose content and customise it for various distribution channels such as blogs, social media posts, product descriptions, etc.
Shopify is encouraging its store owners to leverage Gen AI to produce content for SEO-friendly blogs, social media posts, emails and product descriptions, to boost their productivity.
2. Ad Optimization
Ads are at the core of marketing efforts. If you’re to ask how many ads you remember seeing, you won’t be able to name many. With both digital and traditional spaces being crowded with an overwhelming number of promotional activities, it’s hard to make a message stand out.
For the marketing and advertising industry, generative AI comes in handy for optimizing ad performance. Generative AI can analyse the existing campaigns, user responses, past interactions, market trends, etc., to optimize ad copies, improve personalization and enhance overall ad performance.
According to a report by Hootsuite, 53% of industry leaders have expressed that they are using generative AI tools such as ChatGPT for marketing and advertising.
When it comes to advertising optimization, Gen AI can assist in:
- Give customised ad copies
- Analyse and optimise bids
- A/B testing and optimising ad performance
- Personalized the ads for individual customers
3. Personalised Communication
Generative AI is a game-changer when it comes to crafting personalized communication. By analyzing customer data and behaviour, it can generate tailored messages, emails, and even responses in real time.
Imagine receiving an email that feels like it was written just for you – that’s the power of personalized communication driven by generative AI. It goes beyond just addressing the customer by name; it delves into understanding preferences and behaviour to craft messages that resonate.
Personalisation is becoming highly important to customers. According to a report by Evergage, 9 out of 10 marketers agreed that their customers are looking for an experience that is personalised to them across all domains.
Here are a few examples of how Gen AI can enhance personalization:
- It crafts tailored messages and responses based on customer data.
- Real-time personalization allows immediate, relevant engagement with customers.
- Recommends products aligned with customer preferences, enhancing the shopping experience.
- Automated follow-ups maintain ongoing communication and reinforce relationships.
4. Market Research & Analytics
Accurate and actionable insights are the lifeblood of effective marketing strategies. Generative AI can revolutionize market research by sorting through vast amounts of data to identify trends, consumer sentiment, and emerging market opportunities.
By processing social media conversations, customer reviews, and other online content, generative AI can provide a comprehensive understanding of what consumers are saying about a brand or product. This information can be invaluable in shaping marketing campaigns and product development.
According to a report by Influencer Marketing Hub 2023, 54.5%, of marketers believe artificial intelligence (AI) will significantly elevate and substantially augment their marketing endeavours.
Generative AI can assist in predictive analytics, forecasting future market trends based on historical data and current patterns. This enables businesses to stay ahead of the curve and proactively adjust their strategies.
Here’s how Gen AI can be used for market research & analytics:
- It performs sentiment analysis to gauge consumer perception.
- Identifies emerging trends, keeping businesses ahead of market shifts.
- Uses predictive analytics to make informed decisions and plan for the future.
- Provides insights into competitor strategies for fine-tuning business approaches.
So isn’t it fair to say that generative AI is a powerful tool that is reshaping the landscape of marketing and advertising?
From content generation to personalized communication and market research, its applications are far-reaching. Embracing this technology can give businesses a competitive edge in a crowded market.
If you are excited to explore the future of Generative AI for your business, let’s get in touch!