Over the last six to eight months, Generative AI (Artificial Intelligence) has evolved from a sci-fi movie plotline into a technology that is disrupting entire industries. In a recent article in The Drum, Marigold’s Vice President of Enterprise Strategy, Michele Fitzpatrick, discusses the potential Generative AI has to revolutionize how marketers approach relationship marketing. We’re breaking down the key takeaways to help you understand the who, what and how of Generative AI.
What is Generative AI?
Businesses have been using traditional AI for far longer and more often than most people realize – from automating earnings reports to delivering dynamic paywalls, AI is by no means a ‘new concept’.
However, Generative AI is the next iteration – with recent research showing that 67% of senior IT leaders are prioritizing Generative AI for their business within the next 18 months, with one-third (33%) even naming it as a top priority.
In The Drum article, Fitzpatrick defines Generative AI as any form of artificial intelligence that’s able to create new content, including text, images, and videos. It works by learning from existing examples and using algorithms and models to generate something new.
She also highlights that Generative AI has the potential to revolutionize the way we, as marketers, approach relationship marketing by providing more accurate, personalized, and efficient ways to engage with customers, including:
- Customer segmentation: Analyze customer behavior, preferences, and other data to create groups of customers with similar characteristics.
- Personalized experiences: Analyze customer behavior and preferences to recommend products or services most relevant to each.
- Customer service: AI is central to chatbot features trained to answer customer queries, resolve issues, and even make recommendations based on customer preferences.
- Recommendation engines: Suggest products or services to customers based on their past behavior and preferences, improving customer satisfaction and increasing sales.
- Predictive analytics: Predict the best time to send marketing messages to customers based on their behavior and preferences.
- Content creation: Generate product descriptions, social media posts, or even personalized emails based on customer data and preferences.
- A/B testing: Create variations of marketing messages to test on different customer segments to identify the most effective message.
- Lead generation: Analyze customer interactions and identify those most likely to become customers.
- Social media monitoring: Identify customer sentiment towards a brand by analyzing social media data to identify customer complaints, feedback, and opinions.
- Sales forecasting: Analyze past sales data, customer interactions, and other factors to create accurate sales forecasts.
8 tips to help you write successful Generative AI prompts
With any emerging technology, there are growth and usage issues. Generative AI’s speed and reliance on accurate data make topics like intellectual property, copyright, data ownership, and data integrity impossible to ignore.
In the article, Fitzpatrick believes these issues can be addressed through education, operational excellence, and proactivity. She highlights a few key things to consider when adopting and maximizing the potential of Generative AI:
- Be clear and concise so your prompt is easy to understand and provides clear instructions for the AI to follow.
- Be prescriptive and helpful, the more descriptive you are the more accurate the outcome.
- Specify outputs including desired length and tone of voice.
- Specify formats such as bulleted lists, numbered sequence or short paragraphs.
- Provide examples by prompting Generative AI to “remember” an example of content and create a response based on that example.
- Make adjustments, if the AI produces unexpected or undesirable outputs.
- Find a balance and experiment with different guidance levels to find the sweet spot that best aligns with your project’s objectives.
- Review and evaluate your prompts to ensure accuracy and optimization.
Fitzpatrick also stresses that Generative AI should play a role in the overall creative process. But the tool should not be tasked with doing all the work alone. AI delivers speed and scale. Humans are still responsible for creativity, innovation, and using the tools ethically.
So, the biggest question remains not why you’d utilize Generative AI to enhance your relationship marketing efforts, but rather when and how.
Campaign Monitor by Marigold’s AI features:
At Campaign Monitor by Marigold, we see endless possibilities for using data, technology, insights, and creativity to design and deliver a dynamic and impactful customer experience.
We’ve introduced the following AI features to ensure our platform drives efficiency for you and your teams:
- NEW AI Writer – saves you time by automatically crafting and proofing compelling email copy based on your prompts.
- Subject line recommendations tool gives best practice tips so you create a perfect subject that maximizes open rates.
- Pre-built engagement segments automatically categorizes your subscribers’ into six pre-built segments based on their level of interaction with your emails.
- Automation capabilities enable you to create a series of emails that will be sent when triggered by specific events, dates, or subscriber activity.
- The Assistant provides useful tips to help you complete your campaigns and avoid any stressful email errors.
- Cam our digital support agent will help you find answers to your questions quickly, reducing the time it takes to troubleshoot.
These are just the beginning, we’re focusing on innovating and building on these AI features and offerings in the coming months.
Read the full article in The Drum here.