How Does Generative AI Generate $$?

#GenerativeAI has been a buzz word and may see expanded adoption this year. Here are a few quick thoughts on how it can also make a splash on your bottom line.

1:1 Personalized Marketing

Deploying a generative AI would be like employing thousands of content creators writing millions of 1:1 personal campaign messages, each tailored to the unique preference of the target audience - from the tune of the subject line to product features being highlighted.

These creators work 24 x 7, never quit and best of all, they are always equipped with the latest product knowledge and customer insights.

Increase open rate -> increase CTR -> increase ROAS and margin - with virtual no marginal cost per message generated.

In a quick test, #chatgpt did a decent job pitching a used Honda Civic to two different personas – soccer mom vs. barbeque dad. Imagine the power of this technology when it is fed with your #customerdataplatform data for each individual customer.

#Ecommerce Contents Generation and Summarization

Similarly, generative AI provides the ability to tailor product descriptions – not just words but also product images, based on user preference:

• top 3 product features to be highlighted
• tune and style of the product description
• images reminding shoppers of the specific occasion for #consumergoods product
• images reflecting similarity of the targeted shoppers
• all on top of personalized product recommendation and promo

Another use case is summarizing user generated contents like product reviews and social posts to extract key information and remove friction of product discovery.

These capabilities increase product page view as well as conversion.

Again, for illustration, see how #chatgpt summarizes a 600-words AirPods review (original post on Amazon) into a 50-word extract:

Mike Edmonds

Virtual Personal Shopper

If you are like me, you hate 9 out of the 10 online chatbots (with the remaining one taking forever to load).

Generative AI looks promising to become the virtual assistant that actually works and may even fundamentally change how we search for a product and interact with a brand.

Give it a (synthetized) voice, you have your personal trainer in a running App. Kevin Hofstee Patrick Brandimore

Give it an avatar, you have a personal shopper in your #metaverse store on Roblox. Subroto Mukherjee Sean Seah

Call Center Operation

Large B2C corporations from #telcos to #financialinstitutions and #retailers feel the pain of measuring the effectiveness and efficiency of call centers.

Quantitative KPI’s abound from average handling time (AHT) to customer satisfaction score (CSAT) but what about qualitative insights? If the CSAT score is low, what exactly has gone wrong? If the first call resolution (FCR) rate is high for a specific group of agents, what can be learned and scaled?

Generative AI is yet to replace human agents at call center, but it can extract insights to answer the above questions.

Two Real World Stories

As early as 2017, #Alibaba used AI to generate e-comm contents at its Singles Day event and saw double digit increases in click through rate. (Source: https://developer.aliyun.com/article/396633) Kam HE Henry He

More recently, CarMax is using #azureopenai to summarize review, generate marketing content and provide vehicle comparison. Watch this video from #Microsoft:

Last But Not Least...

In fact why do I even bother to write an article when you can simply ask the AI.

Thanks to ShiSh Shridhar Noah Herschman Praveen Gururaja for ideas. Aaron Mohrman Hayan Ortega