Generative AI technology — also known as genAI — has sparked a tremendous buzz in the tech and business worlds and beyond. The term “genAI” describes AI-powered tools that are capable of ingesting information that users enter as prompts (input). The platform then generates unique content (output) based upon that input. For example, someone who wants to run their first 5K by next month may enter the following prompt: “Create a three-week training plan for a 5K race.” In response, the generative AI platform may create a detailed schedule to help the athlete prepare for race day.
While the most popular tools, such as DALL-E Free and ChatGPT (short for Generative Pre-trained Transformer), are known for their limitations in assisting marketing professionals, custom-built tools designed for more specific marketing and customer service functions can offer marketing teams a wealth of benefits.
In most cases, generative AI tools for marketing operate by connecting large language models (LLMs) with company databases to read, interpret and generate reports and analyses for insight into patterns of buyer interactions and behaviors along the customer journey. Marketers and their company websites stand to gain valuable benefits from this functionality, such as increasing operational efficiency, improving lead data organization/prioritization and accelerating response times to leads and customer inquiries.
In this article, we’ll explore some of genAI’s potential use cases in marketing before discussing your best strategy for deploying AI technology to boost lead flow, organization and close rates
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Applications of Generative AI for Marketing
The volatile marketing process includes engagement and conversion cycles with erratic high and low seasons. These cycles represent the primary limitation of traditional marketing channels. However, generative AI implementations can provide more stability and consistency for marketers and their clients. The table below breaks down some of the more common marketing applications with brief descriptions, which we address in greater detail in later sections.
Potential Applications for GenAI in Marketing
Function
Description
Product & Service Offer Customization
Generative AI can use data from leads and existing customer profiles to ensure product offers from all channels are tailored to their history, purchasing behavior and background.
Higher Conversions
From contact form fills to demo requests and closed deals, using generative AI to create more personalized lead and customer experiences will improve your conversion chances by ensuring that all touchpoints maintain high relevance for target audiences.
Better Informed Decision-Making
Automatically capture data, organize data and generate reports to improve accuracy while increasing the frequency of your leadership team’s data reviews. This enables more swift and prudent decision-making in nearly every circumstance.
Higher Customer Satisfaction
By leveraging genAI on social media accounts, company websites and customer portals, marketing professionals will enjoy faster response times and more personalized information, resulting in higher levels of customer satisfaction.
Larger Profit Margins
The strategic deployment of AI technology for individual use cases can increase profitability by reducing administrative labor costs, streamlining business processes, and/or delivering better-targeted marketing messaging to leads and loyal customers.
Potential Risks of AI Implementation
None of the market options for out-of-the-box AI tools will successfully maximize the benefits mentioned above. Some business leaders believe these tools offer a stepping-stone for teams that are seeking to familiarize themselves with genAI’s capabilities. However, the failure to align these tools with a competitive ROI can lead to disappointment or even a complete disinterest in AI technology. Accuracy-related hiccups and incompatibility with existing business processes often create a scenario whereby AI tools fall short, even when compared to manual processes.
The risks of using these pre-made tools include:
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- Poor data accuracy;
- Inconsistent or awkward content;
- Accidental inclusion of protected data in marketing content; and
- Misinputs or complete incompatibility to integrate AI technology with your existing tech stack;
- … and more.
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While these risks aren’t equally present in all genAI deployment strategies, partnering with a custom AI software developer is the best way to avoid many of the most common pitfalls.
Deployment Strategy for GenAI in Marketing
The best way to implement a generative AI tool is to adopt a custom platform that meets your organization’s specific needs, complies with all relevant regulations and has the ability to scale with your operations. Ideally, this would come from a cutting-edge custom software development partner who specializes in AI and has experience creating tools for marketing firms and departments.
A quality development partner will examine your operations, identify your pain points and determine your goals for your software platform or application. Then, they will start creating bespoke, purpose-built tools specifically for your business to ensure that every aspect of your generative AI program is optimized for your unique use case and target market.
Leverage Generative AI for Marketing with 7T
At 7T, we use a problem → solution approach to creating genAI solutions for our clients in the sales and marketing niche. Through our custom-built platforms, machine learning and AI technology can provide significant operational advantages with a robust ROI. Our team will identify your organization’s challenges and pain points, oftentimes even showing up on-location for a time to embed ourselves within your business and understand your needs from a first-person perspective. Then, we’ll architect a value-generating solution to transform your vital business processes and meet your goals.
7T is based in Dallas, with additional locations in Houston, and Charlotte, NC. But our clientele spans the globe. If you’re ready to learn more about the use of generative AI in finance, with a look at how this technology can benefit your organization within the financial space and beyond, contact 7T today.
