Marketers see AI as helpful, but not without risks.
Digital marketers see opportunity, but also potential threat, in the emergence of artificial intelligence (AI) as a marketing tool.
According to a May 2023 survey of 221 U.S. business-to-consumer digital marketing executives by Optimove, almost eight in 10 (78%) respondents think AI is helpful in marketing. At the same time, close to half (47%) said it was dangerous in marketing
The survey also revealed that 43% of respondents think AI will replace some marketing team members. AI is currently helping marketing teams with some rote actions, like writing email options.
More than nine in 10 (92%) respondents are planning to or have increased the percentage of their automated marketing campaigns to deliver more relevant, personalized messages. The top automation technologies that marketers plan to implement in the next year include marketing analytics/multitouch attribution (34%), mobile marketing platform (32%), multitouch marketing hub (31%), and website personalization (28%).
In addition, top technologies that respondents have targeted for upgrades/replacements include loyalty platform (34%), mobile marketing platform (30%), website personalization engine (25%), and marketing analytics/multitouch attribution (24%).
Finally, the survey reveals that respondents are most commonly Increasing investments for scaling personalization (63%), unifying customer data (58%), AI-based marketing automation (57%), and multi-channel orchestration (53%).
"Many may fear that generative AI could be dangerous in marketing,” said Pini Yakuel, CEO and co-founder of Optimove.. “But the operative question is, 'What task are you asking it to do?' It is not dangerous if asked to provide information on a subject or suggest viable solutions to a problem. Armed with information, the next action is still in the hands of humans. If asked to take unmonitored action, generative AI could go astray. So, humans need to monitor the actions of generative AI. Doing so is a powerful tool for marketers – not dangerous."
Bazaarvoice: Marketing budgets face scrutiny
A recent survey of more than 500 budget holders and decision makers from brands, retailers, and agencies from Bazaarvoice showed marketers are expected to create more with less funding:
Six in 10 (61%) respondents said their budget will be impacted by the recession, while 20% are unsure.
Eight in 10 (81%) respondents said they will be expected to reduce marketing dollar spend.
One in three (34%) respondents said they will be expected to reduce headcount within their advertising team.
Close to three in four (73%) respondents said they are targeted on improving the ROI of their marketing dollars.