How is ChatGPT and other Generative AI Shaping the Future of Digital Marketing
Digital Marketing, a critical component of any modern marketing strategy, is on the cusp of radical change with the advent of ChatGPT and other generative AI technologies. But just how important will these technologies prove to be and how will they impact the scope of digital marketing in the coming years ? Aaron Fernandez, founder of Kilowott, a Goa-based technology company which provides IT services to several Fortune 500 companies, puts his finger on the pulse of the issue.
The universe of marketing has undergone a significant transformation in recent times, but the pace of the transformation over the last few years has been almost radical, with the emergence of generative artificial intelligence (AI) and now the birth of ChatGPT.
As more and more people rely on digital media to access information, businesses have had to change the way they market their products and services. Ever since the term was first coined in the 1990s, digital marketing has become an essential part of any modern marketing strategy, eagerly incorporating new technologies like ChatGPT and generative AI to shape newer ways for businesses to connect with their customers.
One of the most significant advantages of ChatGPT and other generative AI tools is their ability to provide a personalised approach by analysing user data and behaviour to generate tailored recommendations, ads and messages based on individual preferences and interests. According to a study by Epsilon, 80 percent of consumers are more likely to do business with a company that offers a personalised experience. This means that businesses need to find ways to connect with their audience on a more personal level. That’s where ChatGPT and other generative AI tools step in to provide solutions.
Personalised Approach: The ability to provide a personalised customer approach is becoming a key advantage of generative AI. These applications can analyse data and generate tailored responses, which can help businesses to establish a stronger connection with their customers. This is particularly important as the digital landscape becomes more crowded and competitive, with businesses seeking new ways to differentiate themselves.
Automating Daily Tasks: Generative AI is also increasingly being used to automate daily tasks, freeing up valuable time for employees to focus on more critical chores, other than the routine. For example, chatbots powered by ChatGPT are being used to handle customer inquiries and provide support, improving organisational efficiency and increasing customer satisfaction levels, because of the personalised touch with such bots ensure. This not only benefits businesses by improving their bottom line, but also benefits consumers who receive more efficient, effective customer service. Customers are more likely to be satisfied with the knowledge that their concerns are being individually looked into.
Content Creation: One area where ChatGPT and other generative AI tools are having a significant impact is in content creation. These tools can be used to generate compelling copy, headlines, and even entire articles. This means that businesses can produce more content in less time, without sacrificing on quality.
Effective Digital Media Engagement: ChatGPT and generative AI tools can also help businesses engage with their customers more effectively in the social media universe. By analysing social media data, these tools can generate responses in real-time that are tailored to each customer. This can lead to higher levels of customer satisfaction and improved brand reputation. For example, a business could use ChatGPT to generate a customised response to a customer who has just posted a complaint on social media. This would show the customer that the business cares about their concerns and is taking steps to address them.
However, the growing dependance on generative AI comes at a price, as there are many ethical aspects linked to generative AI. Since ChatGPT is powered by a powerful cloud computing platform, which was funded by Microsoft, there is a need for responsible innovation. The use of AI platforms to generate data from copyrighted sources could result in legal and ethical issues related to intellectual property rights. It is important for these companies to outline necessary guidelines in order to avoid negative consequences and work to reverse social power imbalances
To conclude, the emergence of ChatGPT and other generative AI tools is rapidly transforming the landscape of digital marketing. These tools are helping businesses personalise their marketing approach, automate daily tasks, create compelling content and engage with customers more effectively on social media. With more and more people relying on digital media to access information, businesses that fail to incorporate these tools into their marketing strategies risk falling behind the competition. As the field of AI continues to evolve, we can expect to see even more exciting developments in the realm of digital marketing, with ChatGPT and other generative AI tools leading the way.
(This article is written by Aaron Fernandez, founder of Kilowott, a B2B digital service provider, and the views expressed in this article are his own)
