It’s everywhere.
Bloomberg estimates that AI spending will reach $1.3 trillion in 2032. Microsoft has invested $14 billion into Open AI. Netflix hired an AI director at $900K per year, which shows that I am in the wrong field.
Which corporate function is most likely to be affected by AI across industries? Sales and marketing may surprise you (or not).
How will this incredibly promising technology impact Marketing? Some marketers fear that AI will lead to job losses, but most are optimistic. 71% of marketers believe AI will enhance their strategic work and not replace it.
How AI affects B2B sales and marketing
After a decade of stagnation in B2B Marketing Innovation after the introduction of marketing automation, generative artificial intelligence is sweeping across the industry like a tsunami. Hold on to your trunks.
B2B marketing experiences were static, linear, and one-way until recently. Customer expectations are changing as digital natives enter B2B purchasing groups. AI has finally enabled us to respond to the dynamic, two-way marketing experiences that we had only previously talked about.
AI’s ability to translate natural language into code, images, videos, audio, and writing can be used to populate digital shells with high-volume and highly relevant content based on the actions of customers and prospects at that particular moment.
This can provide us with the information we need to personalize mass marketing campaigns.
We haven’t even begun to think of all the other things!
Four investments to win in the AI World
Please do not misunderstand me: we’re still responsible for the pipeline. The average revenue marketing team in B2B is now expected to deliver 40 percent. The pressure is increasing.
It’s tempting to AI everything. But you don’t want to find a nail with your new hammer because it is cool. A great plan, short and long-term objectives, and an operations layer that focuses on talent, technology, and content will deliver world-class experiences.
You can also find out more about the talent of others.
It is time to invest in talent, not layoffs. Create a vision of the future of work.
Teams should be restructured into matrixed G2M Customer Experience teams led by an “experience designer” or campaign manager. The teams should consist of an AI systems architect (also known as a personalization specialist), a data-to-insights activation specialist, and an ethics/legal consultant.
You can either build, borrow, or buy the talent that you need. Engage everyone in the goals, pilots, and successes.
Technology
Google lost $100 billion because Bard messed up a demo… However AMA’s engagement rate monthly increased by 42% after it started using AI-developed subject lines.
It’s important to map out a tech strategy for AI that is based on goals because AI can go in either direction.
Audit your stack and harness the features you can. Stay current to take advantage of any new features that offer efficiency and performance gains many times over. You may even get an advantage by being the first to adopt a new technology. Stay in control. Train your team. Test like mad. And ask yourself constantly, Does AI make us better?
You can also find out more about the content on this page.
AI will be the copilot of your content. You’ll need to replace project managers with big thinkers who can quickly iterate and use AI.
Ethics and Governance
Matthew McConaughey asked in a Salesforce advertisement: “If AI is the Wild West, then who’s sheriff here?”
In a recent survey 73% expressed concern about Gen AI introducing new security risks.
A continuous governance system will reduce risk and surprise. Someone on your team may be tempted by the affordable capabilities of deepfaking in a playground filled with such tools. In this new age, governance means establishing boundaries, monitoring ethics, and being transparent when it comes to AI.
Asking experts to rate their AI-driven experience will help you determine which tools are most effective and secure.
Bring the Execs aboard and ride the wave.
Your business plan should be written like a P&L. What impact is expected on the customer’s experience? What’s the anticipated impact on revenue? How do you plan to redeploy talent, reinvest funds in pilots, and gain efficiencies?
Your plan should be presented to all your colleagues in the executive ranks, including CFOs, CHROs, and CPOs. How can it help them achieve their goals? You’ll have a lot of buy-in once you sharpen the pencils and present them to your CEO.
AI’s impact on marketing is real. The power of generative artificial intelligence can reduce content overload while enhancing generic personalization and reducing aimless upselling. Innovation is a process of small steps.
It’s high time we usher in an era of experiences driven by marketing.