- AI in Marketing
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- About AI in Marketing in 2024
IN THIS ISSUE
The State of Marketing AI 2024 Report by the Marketing AI Institute
Answer Engines: All You Need To Know
TOP PICKS
Photo by Javier Miranda on Unsplash
Know This About AI in Marketing in 2024
AI awareness, adoption, and implementation are improving. A majority of the marketing teams are either piloting or implementing AI mostly for repetitive, data-driven tasks.
However, organisations need to implement AI in a structured manner by rolling out AI-usage policies, and guidelines and having AI councils to lead these decisions.
Upskilling is another critical focus area. Upper-level management and entry-to-mid-level management have differing views on AI's impact on jobs. While more than 50% of the higher level management believes that more jobs will be eliminated by AI, only about 40% of entry and mid-level executives share this sentiment.
The Findings
AI adoption is skyrocketing
A staggering 99% of respondents report using AI in some capacity, with 36% now integrating it into their daily workflows - a 7% increase from last year. The number of professionals who "couldn't live without AI" has more than doubled to 15%.
Marketing teams are embracing AI at scale
51% of marketing teams are now piloting or scaling AI initiatives. This indicates a significant shift from exploration to implementation.
Time-saving is the primary AI goal
An overwhelming 80% of respondents cite reducing time spent on repetitive, data-driven tasks as their top AI objective. This highlights the potential for AI to streamline operations and boost productivity.
ChatGPT leads the pack
55% of organizations provide licenses for ChatGPT Team or Enterprise, making it the most popular AI platform. This suggests a growing recognition of generative AI's potential in marketing contexts.
AI education remains a critical gap
Despite increasing adoption, 67% of respondents identified a lack of AI education and training as the top barrier to implementation. Only 25% of organizations offer comprehensive AI training for marketing teams, leaving a significant skills gap.
Generative AI policies are on the rise
While only 34% of companies currently have generative AI policies in place, this represents a 55% increase from 2023. This trend indicates a growing awareness of the need for ethical AI guidelines.
AI councils and roadmaps are still rare
Only 29% of organizations have AI councils, and a mere 19% of marketing teams have AI roadmaps or strategies. This suggests a need for more structured approaches to AI integration.
Job disruption concerns are growing
47% of respondents believe AI will eliminate more jobs than it creates in the next three years, up 7% from last year. This highlights the urgency for upskilling and rethinking roles in marketing.
Task automation expectations are high
78% of respondents anticipate that AI will automate over a quarter of their marketing tasks within three years. 34% expect automation of half to two-thirds of their tasks, emphasizing the need for adaptability.
Sentiment remains positive, but concerns persist
68% of respondents feel positive about AI's impact on marketing, business, and society. However, many express concerns about keeping pace with AI advancements and potential misuse of the technology.
Why This Matters
AI is disrupting how we work, live, and see the world.
But, organizations are lagging behind and struggling to come up to speed with this new technology. While employees are proactively adopting AI to improve productivity and deliver better results, they feel a lack of organizational support in terms of AI education and upskilling, policies and roadmaps, and strategic planning.
There is an urgent need for upskilling and preparing the workforce for the human+AI collaboration. For an ethical and safe world around us.
Photo by Garett Mizunaka on Unsplash
All You Need To Know About Answer Engines
Answer engines represent a fundamental shift from the link-based results of traditional search engines to direct, concise answers. This evolution from "search" to "answer" has profound implications for how our target audiences access information and, consequently, how we reach them.
Perplexity AI and OpenAI ChatGPT are leveraging Large Language Models (LLMs) to provide sophisticated, conversational responses to queries.
WolframAlpha continues to be a benchmark for accuracy in specialized fields.
Google's Search Generative Experience (SGE) and Microsoft's integration of AI into Bing signifies the industry's recognition of this shift.
What This Matters
Marketers will be required to modify, update, and reskill when it comes to content strategies.
Content Strategy Overhaul
Initiate a comprehensive audit of your content strategy. Pivot towards creating content that directly answers specific questions in your industry niche.
Balance between depth of information and concise, answer-friendly content.
SEO Shift
Reassess your SEO strategy. Keywords are evolving into key phrases and questions.
Develop a question-based content architecture that aligns with your audience's search behaviors.
Data and Analytics Recalibration
Revise your analytics framework to account for reduced direct site traffic.
Develop new KPIs that measure brand visibility and impact in an answer engine ecosystem.
Brand Authority and Thought Leadership
Position your brand as the go-to source for authoritative answers in your industry.
Cultivate partnerships with answer engine platforms to ensure your brand's insights are prominently featured.
Content Distribution and Syndication
Diversify content formats (video, audio, text) to maximize discoverability by answer engines.
Develop a multi-channel distribution strategy that ensures your content is accessible across various answer engine platforms.
Paid Media Strategy Adaptation
Reevaluate your paid search strategies in light of changing user behaviors.
Explore new advertising models that align with answer engine platforms.
Customer Journey Mapping
Redesign customer journey maps to account for answer engine touchpoints.
Develop strategies to guide users from quick answers to deeper engagement with your brand.
Privacy and Data Ethics
Review and update your data practices to align with the evolving landscape of answer engines.
Position your brand as a leader in ethical data use and transparency.
The rise of answer engines isn't just a technological shift. It's a fundamental change in how consumers interact with information.
As marketers, we must ensure that our brands remain visible, relevant, and engaging in a world where direct answers trump traditional search results.
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