NEW! Listen to the article
In the new year, one thing is clear: artificial intelligence (AI) is at the forefront of marketing discussions.
The question is no longer whether AI will dominate; Rather, the question is what its use cases will be and where the real value of AI lies within business functions.
Throughout 2023, businesses have moved from simple interest to large-scale adoption of AI, addressing specific challenges, such as data analysis, content creation and customer service efficiency.
Looking ahead, four trends are expected to shape the marketing landscape in 2024.
Trend 1: Harmony between AI and human creativity elevates marketing roles
The partnership between AI and human expertise is expected to redefine marketing roles in the coming year, evolving roles rather than replacing them.
In 2023, marketers have realized the potential of AI as a strategic and creative partner in streamlining workflows and improving efficiency. In 2024, the partnership between AI and human expertise is poised to redefine marketing roles rather than replace them, creating a synergy that amplifies results at every level.
I anticipate a dynamic shift in content creation as marketers and sales teams capitalize on AI for audience personalization. Content creators are no longer just producers, but AI collaborators, developing content that resonates with target audiences. Although AI does the heavy lifting, human oversight remains crucial for consistent editing and curation.
Marketers must recognize that AI technology can be a powerful tool in their efforts to engage audiences and drive greater performance in their marketing efforts by improving ad creation and copy, introducing better precision in ad targeting and creating more timely and authentic engagements with their consumers. .
Trend 2: AI Tackles Ghosting in Retail Customer Service
Today, customers have no shortage of digital spaces to share their shopping experiences with other customers: business profiles, review sites, e-commerce portals, etc. These are real opportunities for retail businesses to actively participate in the conversation. But far too many businesses still treat customer reviews passively, often ignoring them completely.
Ignoring customer reviews is akin to ghosting, which comes at a high cost: a staggering $2.4 billion annual loss for the U.S. retail sector alone. In 2024, advances in AI promise to change this narrative.
Imagine a world where AI empowers brands to break free from phantom trends, responding quickly and on brand. Technologies already exist to automate responses to frequently asked questions, turning overlooked queries into opportunities for meaningful interaction. AI-driven personalization takes center stage, enabling retailers to craft responses that resonate with their target audiences. The result? Improved digital engagement, increased revenue and enhanced customer satisfaction.
In 2024, AI will become the beacon guiding retailers toward more meaningful online experiences and true connection with their customers.
Trend 3: AI-driven change requires martech streamlining
To truly reap the benefits of AI, data consolidation becomes imperative. Over the past decade, companies have accumulated numerous marketing technology solutions, resulting in overwhelming martech stacks. The average business now juggles over 100 applications, and for businesses, this number skyrockets to 664.
Having too many platforms hinders marketers in cross-channel integration, preventing them from having a holistic view of customer behavior and preferences. Additionally, an overloaded tech stack adds complexity to workflows, leading to slower response times and bringing marketers to their knees when it comes to implementing real-time marketing strategies .
As businesses embrace the power of AI, the need to consolidate and unify data becomes paramount. Businesses are being forced to face the reality that their data is scattered across disparate and siled platforms, which will not suffice for the new AI reality.
Trend 4: Strategic data management will unlock the power of AI
In 2024, the imperative is clear: companies must confront hypermartech to provide AI tools with the data necessary for optimal performance. A recent BCG study highlights that Businesses Using Generative AI See Significant Improvements in Performance.
However, deriving optimal value from AI requires managing data strategically, which involves a holistic view of customer interactions across all channels, facilitating personalization, forecasting, modeling and other data-based tasks. AI.
Businesses also need to keep data security and compliance risks in mind. Managing data across multiple platforms increases the risk of security breaches and compliance issues. By consolidating data across all channels, marketers will have a more unified and secure approach to data management. This is especially important as privacy regulations tighten, requiring businesses to adopt robust measures to protect customer data.
As AI takes center stage in 2024, effective data management becomes the keystone for businesses to remain competitive in a rapidly changing landscape.
Looking forward to a promising year 2024
As we move forward into the new year and industry leaders learn from the successes and failures of their peers, we have many reasons to be optimistic.
Companies dedicated to integrating innovative and scalable strategies client experienceBusinesses will thrive, as advances in AI continue to uncover new ways for businesses to succeed.
So I encourage you to ask yourself: “What should I do now to ensure that not only my team, but also my customers, benefit from the new era of AI integration?”
More resources on AI marketing trends
ChatGPT celebrated its first anniversary: what have we learned from AI’s breakthrough year?
How CMOs Can Use AI to Make Strategic Business Impact and Change Careers
