ChatGPT and Generative AI Tools: Revolutionizing the marketing landscape
Guest Column: Atul Raja, Career Marketer, Leadership Mentor and Growth Strategist, shares other Generative AI tools and their importance in today’s world
Recently, we witnessed a new record in the technology industry. OpenAI's ChatGPT hit 100 million users in just two months of its launch. The significance can be understood from the fact that TikTok took nine months, and Instagram took over two years to reach the same milestone. The development of large language models like ChatGPT is the most significant milestone in AI in recent times, as they have the ability to simulate human-like responses to a wide variety of prompts, with the potential to be used in different applications, from chatbots to language translation to content creation, etc.
Generative AI tools have emerged as a formidable tool shaping the engagement dynamics with consumers and are increasingly used to create and support a variety of marketing assets, including images, videos, and text, all of which can be used to reach and engage consumers in new and innovative ways. Let’s first take the obvious example of ChatGPT, a large language model developed by OpenAI which has shown enormous potential for Marketing.
- Personalized Marketing: ChatGPT can analyze large amounts of customer data, such as social media interactions, website visits, and email responses and help marketers identify patterns, trends, and insights to improve their marketing strategies, increasing conversion rates and reducing the cost of customer acquisition.
ChatGPT can suggest different ideas for personalizing banners for each audience segment. Additionally, it can carve out target audience segments and analyze data accordingly, allowing advertisers to run PPC campaigns on laser-sharp keyword management.
- Automated Content Creation (perhaps the most telling impact): ChatGPT has the potential to generate high-quality content for marketing purposes, such as social media posts, blogs, product descriptions etc. Marketers can use Chat GPT to automate content creation, save time, and reduce costs.
Zomato and Swiggy are using AI-generated content to engage consumers better. For instance, Swiggy’s food blog, 'Swiggy Diaries', uses AI to generate content based on trending food topics, customer interests, and local food scenes. BYJU's has employed AI to customize learning paths based on student responses, with content generated by tools similar to ChatGPT.
- Targeted advertising: ChatGPT can analyze customer data and generate advertising messages that are more likely to appeal to customers. With ChatGPT's ability to understand natural language, it can help create more relevant and targeted ads that can lead to higher conversion rates and generate numerous alternative slogans for A/B creative testing.
The Mint Mobile ad created by Ryan Reynolds is a classic example of how a commercial can be created with ChatGPT. Storied, a genealogy website, recently utilized ChatGPT alongside the AI art generator, Midjourney, to design video ads.
- Integration with chatbots: This provides a more natural and human-like experience to customers. Chatbots can leverage the power of ChatGPT to provide personalized recommendations, offer support, and help customers complete transactions seamlessly.
Flipkart has employed ChatGPT-driven chatbots for handling customer queries leading to improved response times, higher customer satisfaction rates, and significant cost savings in customer service.
Now let us look at a few other Generative AI tools that may not have made a big splash like ChatGPT but are progressively defining the contours of modern marketing by driving customer engagement, hyper-personalization, automated content creation, predictive insights, and effecting big cost savings.
- DALL-E is an image generator focused on creating images from text descriptions. It is being used by brands to create product images, marketing campaigns, and social media posts.
HDFC Bank used DALL-E 2 to create a series of images that depicted the bank's products and services in a creative and visually appealing way.
- Midjourney is another image generator that is similar to DALL-E. It is being used by brands to create high-quality images for a variety of marketing purposes.
San Francisco Ballet experimented by pairing AI-generated art with live performing art by using Midjourney.
- Jarvis is a writing assistant that can help you write blog posts, articles, and other marketing content. It is being used by brands to save time and improve the quality of their content.
Indian IT majors like Infosys, Wipro and TCS are using Jarvis to create and manage their content marketing campaigns and content-led assets.
- Persado is a tool that can help you create high-performing ad copy. It uses AI to analyze your target audience and create ad copy that is tailored to their interests.
Reliance Jio is using Persado to create more effective customer journeys by personalizing the content and offerings at each stage of the consumer journey to enhance customer satisfaction and decrease customer churn.
The potent combination of AI and marketing offers stunningly transformative prospects for businesses. So, the next time you visit your neighbourhood grocery store or call for home delivery, don’t be surprised if the shopkeeper reminds you of your last order, the stocks of which may be running out or details new offers on the same using predictive analytics software (being used by companies like Hindustan Unilever).
The advent of Generative AI in marketing is exhilarating. Going ahead, to be successful will not be defined by what we know but by what we can do with what we know. AI-led marketing, folks, is a case in point.
