Two-thirds of marketers investing in AI report a positive ROI—43% said they saw twofold ROI and 22% saw threefold ROI—per a May 2023 survey by Botco.ai. Here’s a breakdown of how generative AI can help brands and retailers connect with customers throughout their buying journeys, based on intel from a recent Meet the Analyst Webinar.
Generative AI (GenA() can reshape the buyer’s journey from the start by attracting potential customers, molding content to their needs, and fostering a faster connection between the buyer and the brand.
Case study: Allstate. Despite working with highly regulated companies like Allstate, marketing firm BrandMuscle uses AI to create content to connect with customers at the awareness stage. While it can be challenging to quickly generate AI-powered content that both meets customer expectations and adheres to compliance standards, BrandMuscle has found this can be done via text-based content creation, digital ads, and real-time optimization based on third-party data.
Marketers can leverage AI to help customers make informed buying decisions, moving them closer toward purchase.
Case study: Rippler Group. Rippler, which provides growth marketing expertise to B2B tech startups, uses the conversational marketing platform Gong to extract buyer questions from its customer relationship management platform and uses ChatGPT to categorize these questions, enhance conversations, and target buying needs.
Brands can leverage AI to speed up buyers’ decision-making process and ultimately increase conversion rates.
Case study: Tapestry. The parent company of major fashion brands like Kate Spade, Tapestry uses Persado’s generative AI solution Dynamic Motivation. Using third-party data, it personalizes marketing copy based on which words and phrases perform well with specific buyers and adapts customers’ cart checkout experience to their browsing behavior and preferences.
“GenAI-driven personalized paths can reduce cart abandonment and deliver a 3% to 5% increase in ecommerce revenues,” our analyst Kelsey Voss said on a recent Meet the Analyst Webinar.
AI can improve customer satisfaction, which can ultimately increase retention.
Case study: Arm. Acrolinx is an AI platform that uses a unique linguistic analytics engine to read content and provide immediate suggestions for improvement. Software design company Arm has leveraged Acrolinx to refresh long technical manuals with outdated copy, helping its technical writers publish long-form manuals in a style, tone, and language that is easy for customers to read.
AI can build customer loyalty, retain long-term revenue growth, and convert customers into advocates.
Case study: The Coca-Cola Co. Coca-Cola promoted brand advocacy when it launched an AI platform with DALL-E 2 and GPT-4, where artists could submit original work with Coke-branded elements for the chance to be featured on Coca-Cola’s digital billboards in Times Square and Piccadilly Circus.
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