Unlocking the Full Potential of Generative AI
Illustration: © AI For All
In the past year, Generative AI (GAI) has emerged as a powerful force, reshaping how we approach knowledge work. While much attention has been given to its role in "ghostwriting," use cases for marketers extend far beyond simply content creation.
Ghostwriting, the process of having an AI tool generate written content on behalf of a human, has become a staple application of GAI. Whether it's drafting blog posts, marketing materials, or research papers, generative AI tools like ChatGPT have streamlined the writing process and created more efficiencies for content creators.
Let’s explore some of the ways teams can leverage the power of Generative AI to increase return on investment (ROI), applied in other business settings beyond writing tasks.
Video Production: From Script to Screen
Generative AI isn't limited to the written word. Parts of the video production process can be managed by AI tools, potentially taking hours out of production time for a single video.
As businesses increasingly rely on video content, the ROI of increased speed-to-final productt here is substantial. For example, RunwayML makes it seem like you have an entire video production suite in your browser. It offers basic editing, effects, filters, audio editing, and even advanced post-processing.
Haiper is a new offering from Google DeepMind and TikTok alumni, which offers web-based AI video generation and enhancement. Google’s forthcoming Lumiere text- and image-to-video tool is also quite impressive. I
t’s not available yet but the preview videos look amazing! And keep an eye out for things to come from Sora, the prompt-based video generator from OpenAI.
Content Monetization: Turning Content into Revenue
While there are plenty of GAI tools for content creators and creatives, what’s not so common is the ability to monetize the finished product. From actual content creation, or the video tools mentioned above, to tools that help creators develop “better” content, to tools that help embed revenue-generating links and content, GAI can assist creators in a couple of ways.
For one, Grammarly is an AI-powered writing enhancement tool that makes sure your content is grammatically correct, but also performs tasks like conducting advanced grammar checks, checking for style and readability, and analyzing tone.
And when it comes to promoting content on social media, Jasper offers features that help creators and social and marketing teams to modify social posts for different audiences across channels.
GAI can also be used to help creators monetize content once it’s been optimized for specific audiences. A first step for creators looking to monetize content is joining affiliate programs. But which ones?
Creators can use GAI to analyze their content and suggest brands with affiliate programs that are relevant to their content topic(s). Then, they can insert monetized affiliate links wherever there are product mentions or recommendations for those brands. Adding shoppable affiliate marketing links means creators can generate affiliate commissions anytime a click turns into a sale.
Data Analysis: Unleashing Insights
Raw data can overwhelm even the most seasoned analysts. Enter Generative AI which can transform large amounts of data into actionable insights. GAI is excellent at pattern recognition.
Whether it's predicting market trends, identifying anomalies, or even just cleaning up a large dataset, AI algorithms can process and analyze vast datasets efficiently - much more quickly than humans can. Informed decision-making is faster, allowing marketers to act on insights more quickly and make on-the-fly optimizations.
This is especially helpful during the holidays, when sales are short-lived, and promotions may change rapidly based on initial consumer responses. AI empowers marketers to be more responsive when fast reaction time is of the essence.
An even more interesting use case for AI in data analysis is optimizing campaigns with predictive modeling. Seer Interactive is one company that leverages AI for marketing data analytics and has an excellent guide to use cases of AI for using predictive analytics to optimize marketing campaigns.
Personalization: Tailoring Experiences
Generative AI excels at personalization because it can assimilate and parse data from multiple sources. For a brand looking to personalize their customer messaging, AI can analyze customer behavior and preferences from such data as a customer’s behavior on the brand’s site, how often and what they click on in emails, how they interact with customer service or chatbots, and their activity in the brand’s loyalty program.
AI-powered personalization enables brands/marketers to create more relevant campaign messages that will be more useful to the customer, with the end goal of creating more lifetime value. By leveraging data segmentation, marketers can deliver personalized offers and recommendations.
The granddaddy of personalization is arguably Hubspot - HubSpot’s Marketing Hub offers personalization such as behavioral pop-ups to time-optimized emails and website content customization. They have recently begun integrating AI-powered features such as message creation tailored to individuals, a chatbot, and a social media post generator.
Beyond the Horizon
As we ride the wave of Generative AI, let's recognize its multifaceted nature. The real ROI is not just monetary, it’s a supercharger for creativity and time savings in areas such as video creation, content monetization, data analysis, personalization, and collaborative workflows.
So let’s recognize Generative AI as much more than a one-trick pony. For further reading or inspiration, keep an eye on this evolving resource: ANA AI Use Case Compendium for Marketing - currently it has over 80 use cases with examples of tools for marketers.
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Author
Wildfire's enterprise platform embeds social commerce, rewards, coupons, and shopping companions into existing services, enhancing user experiences and loyalty while driving new revenues. The patented suite rewards online shopping and harnesses digital word-of-mouth. Wildfire drives incremental sales for more than 50,000 merchant programs in 50+ countries. Wildfire’s newest platform, RevenueEngine, monetizes generative AI-powered e-commerce transactions by turning product and brand mentions into commissionable links. Founded in 2017, Wildfire is based in San Diego. For more information, visit wildfire-corp.com.
Author
Wildfire's enterprise platform embeds social commerce, rewards, coupons, and shopping companions into existing services, enhancing user experiences and loyalty while driving new revenues. The patented suite rewards online shopping and harnesses digital word-of-mouth. Wildfire drives incremental sales for more than 50,000 merchant programs in 50+ countries. Wildfire’s newest platform, RevenueEngine, monetizes generative AI-powered e-commerce transactions by turning product and brand mentions into commissionable links. Founded in 2017, Wildfire is based in San Diego. For more information, visit wildfire-corp.com.
