What CMOs Need to Know About Generative AI in Marketing

January 25, 2024  |  
By The Pedowitz Group (TPG)
January 25, 2024
By The Pedowitz Group (TPG)

In recent years, generative AI has emerged as a powerful tool for marketers looking to enhance their content creation and audience engagement capabilities. As AI becomes more sophisticated and accessible, it raises fresh opportunities and challenges for marketing teams. To delve into the profound impact of AI on marketing, Jeff Pedowitz, CEO of The Pedowitz Group (TPG), engaged in a compelling discussion with Nathan Schlaffer, founder and CEO of MarketMate. As a trailblazing generative AI platform for marketers, MarketMate’s insights shared by Nathan shed light on the transformative potential of AI in driving marketing strategies to unprecedented heights. In this blog post, we’ll recap some of Nathan’s key insights on what marketers need to consider when thinking about generative AI and how they can leverage it to drive business value.

The Rise of Generative AI for Marketing

The use of AI technology in marketing has been explosive in the last 24 months. Generative AI has become the go-to for modern marketers looking to scale customization. MarketMate is a platform that helps generate and curate content ideas that resonate with target audiences. Granular data insights on customer personas, core messaging and call-to-action themes facilitate market intelligence. Nathan founded MarketMate after noticing the lack of automation in marketing content creation. The software uses natural language processing and machine learning to help generate content; marketers can generate social media posts, headlines, and blog articles. It allows them to save hours in research, identification and creation.

The Role of Human Touch

While AI can assist with content creation, Schlaffer emphasized that we must not forget the importance of human expertise and industry knowledge. AI tools should help with tasks and free up time for more strategic projects. Marketers must focus on understanding their audience, creating buyer personas, and validating the output of AI-generated content. Using AI without human oversight can result in content that is incomplete or irrelevant to a given customer set.

Nathan comments that AI should be seen as a partner for marketers. By working alongside AI tools, marketers can leverage their skills and industry knowledge to create content that resonates with their audience, generate higher revenue, and achieve higher sales ROI. A study by McKinsey found that companies that used generative AI tools saw their sales revenue increase by 10% annually.

As AI technology continues to advance, marketers should seek opportunities to collaborate with AI tools and find ways to complement each other’s capabilities. AI can be used as an orchestrator, with marketers still in the driving seat determining topics, audience, and messaging. The use of AI can lead to more targeted and effective campaigns, which can increase conversion rates and ROI. AI is here to help, not replace, marketers.

Guidance for CMOs & Marketers

Nathan recommends CMOs should consider platforms that are specific to their workflows and enable sales and marketing teams to work together. User-friendliness and a low learning curve should be considered when choosing AI tools. Strategic partnerships with AI experts can train the workforce and enable the effective use of AI technology. Aspiring marketers should know themselves, their passions, and explore different domains within marketing.

Nathan also shares that bias is a legitimate concern for AI models. CMOs should address this by working with subject matter experts and incorporating industry data into their models. MarketMate’s AI model cites its sources, allowing for validation and accuracy, and helping ensure that it’s free from bias. As AI technology improves, Nathan suggests marketers should focus on building diverse teams and involving subject-matter experts to help reduce inherent biases in the algorithms. Mitigating the risk of bias is a crucial aspect of using AI in marketing.

AI technology is revolutionizing marketing, and MarketMate is at the forefront of this transformation. But it’s important to remember that AI tools are not a replacement for human expertise. They should be seen as partners who help marketers create more targeted and effective campaigns. When used correctly, AI has the potential to boost revenue, sales ROI, and enhance the customer experience. By considering the role of human touch, seeing AI as a collaborator, mitigating bias, and following guidance for CMOs and marketers, AI can be used effectively to transform the marketing landscape.

Watch the full interview here:

YouTube player

Connect with Nathan Schlaffer- https://www.linkedin.com/in/nathanschlaffer/

Connect with Jeff on LinkedIn – https://www.linkedin.com/in/jeffpedowitz/

Learn more about The Pedowitz Group – https://pedowitzgroup.com/

Get Jeff’s book ‘AI Revenue Architect’ – https://pedowitzgroup.com/resources/ai-revenue-architect/

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