How To Use Generative AI To Boost Consumer Marketing - Alibaba ...
A recent McKinsey survey found that only 10% to 14% of companies regularly use generative AI in their marketing and sales efforts. This low adoption rate is surprising, given how beneficial generative AI can be for marketing. So, why aren’t more companies jumping on this technology, and how can marketers move past the idea that “AI = bad” to leverage its full potential? Here, we’ll demonstrate the myriad benefits of what generative AI can do for marketers, as well as the risks and strategies to help mitigate these potential downsides.
What is Generative AI and Its Impact on Marketing?
Generative AI is a type of machine learning within artificial intelligence that creates various content, such as written, visual, audio, and video. Recent advancements have made models easier to use, employing techniques like deep learning to mimic human speech, writing, drawing, planning, and strategizing. Top generative AI tools include Open AI’s ChatGPT, Google’s Gemini, Stable Diffusion, Progen, and GAN.ai.
.png)
Benefits of Generative AI in Consumer Marketing
Generative AI excels in personalized experiences, customer service improvement, enhancing creativity, and reducing costs and time in marketing tasks. Brands like Carvana and Spotify have successfully leveraged generative AI to engage customers and reach broader markets. Companies like Unilever and Coca-Cola have used AI to enhance advertising content and creative possibilities, leading to increased engagement and stronger relationships with consumers.
Risks of Generative AI in Marketing and Solutions
Generative AI poses risks such as consumer reactance, confabulation, and copyright infringement. To address these, businesses can emphasize human interaction where necessary, fine-tune AI outputs for accuracy, and stay informed on legal challenges related to creative ownership. The DARE framework suggests a strategic approach to integrating generative AI into marketing, emphasizing ongoing evaluation and skills development within marketing teams.
Final Thoughts
While generative AI offers immense opportunities for consumer marketing, a balanced and cautious approach is essential to navigate potential risks effectively. Marketers must continuously evaluate and update their AI strategies to stay ahead in the rapidly evolving landscape. By leveraging generative AI strategically and responsibly, businesses can unlock its full potential for boosting consumer marketing efforts.
