In the ever-evolving marketing world, staying ahead of the curve is vital. Enter Generative AI (GenAI) - a groundbreaking technology that has the potential to revolutionize the buyer's journey. By now, nearly everyone has heard of - and possibly tried - OpenAI’s ChatGPT, which has played a huge role in ushering in a new era of ai-driven apps. Insider Intelligence recently released a report on the power of generative AI in the customer journey.
The report interviewed a number of thought leaders across business sectors and sizes, including Splash's CMO Kate Hammitt, to weigh in on The Power of Generative AI in the Buyer’s Journey: How Marketers Are Elevating CX. We’re sharing a few key insights on how GenAI can significantly impact brand awareness, increase engagement, accelerate conversion rates, and turn satisfied customers into loyal advocates.
From the start, GenAI can capture the attention of prospects by creating personalized content and responding in real-time to their points and desires. For example, imagine social media posts and ads on LinkedIn with eye-catching images and videos that evoke specific emotions, establishing a deep connection between your brand and future buyers. With advancements in the use of AI, content marketing teams can create hyper-personalized content using a particular language, terms, and phrases that resonate with your target audience, helping you stand out before the buyer even begins their comparison.
Artificial intelligence can be an invaluable partner in a variety of marketing functions, such as:
Say hello to a more targeted and effective marketing strategy!
As Insider Intelligence details, GenAI can also empower buyers to make better-informed decisions, enhancing engagement and moving them closer to purchasing. Leveraging ai models to develop product descriptions and information based on individual preferences and consumption behaviors of specific, you can tailor your messaging to resonate with each potential buyer. Relevant product comparisons, customer reviews, and testimonials further aid buyers in evaluating their options, while timely recommendations personalized to specific needs, budgets, and preferences are just a few use cases in which AI can help develop a truly customized experience.
GenAI can work its magic through optimization and aid in identifying valuable content to repurpose into different formats, such as transforming a white paper into a compelling blog post. It even comes to the aid of digital marketers by generating high-quality email copy and subject lines for marketing campaigns that outperform their human-generated counterparts. According to a December 2022 study by Persado, AI-generated subject lines had a whopping 68% better click rate than human-generated versions, translating to a potential incremental revenue opportunity of $5.8 million. Moreover, GenAI can understand a buyer's language and expectations based on their chatbot conversations, allowing you to respond in their voice.
When it comes to driving conversions, Insider Intelligence asserts that AI tools are a game-changer. For example, a business can use AI technology and predictive analytics to identify the products most likely to pique a buyer's interest and deliver targeted recommendations tailored to that buyer's preferences. This real-time support and guidance throughout the decision-making process. By offering pricing and promotional products within the buyer's budget and giving information about shipping options, payment methods, and order status, you can remove barriers to purchase and expedite the conversion process.
GenAI plays a crucial role in assisting with customer engagement. With real-time insights and suggestions, both the customer and sales teams can better understand the customer's needs and preferences, leading to more effective conversations and higher conversion rates. GenAI also helps organizations recover abandoned shopping carts by sending personalized messages, discounts, and recommendations for related products, maximizing the chances of a successful conversion.
According to Insider Intelligence, GenAI is not just about acquiring new customers; it's also about fostering long-term loyalty and driving recurring revenue growth. Encourage customers to provide positive reviews and share personalized experiences that exceed expectations and other user-generated content. This simple request can transform satisfied customers into brand advocates. GenAI's ability to skim product reviews and customer service conversations helps you identify and reward loyal customers likely to recommend your brand to friends and family.
GenAI captures and analyzes chatbot conversations and sentiment patterns to continuously improve the customer experience. The potential to create text and video case studies and testimonials or alert customer success teams about positive engagements so they can reward these happy customers promptly is just the tip of the proverbial iceberg. Positively influencing the relationship with customers and fully understanding their needs can lead to more substantial customer experiences, which forge and, in theory, increase brand loyalty.
Generative AI is reshaping the future of the marketing landscape - at a mind-blowing pace -and empowering brands to boost brand awareness, increase engagement, accelerate conversion rates, and turn satisfied customers into loyal advocates. By leveraging the power of tools like GenAI and machine learning, enterprise marketing professionals can navigate the buyer's journey more confidently, delivering personalized experiences that truly resonate with customers. By embracing this groundbreaking technology and trying to keep pace with its evolution, marketers are much more likely to stay ahead of the game in the dynamic marketing and revenue generation world.
