AI is the newest MVP of modern marketing teams. IBM’s 2021 CEO Study revealed that 82% of CEOs who outperformed their peers were champions of AI technologies. McKinsey projects that AI has the potential to create $1.4 to $2.6 trillion of value in marketing and sales across world businesses.
But there’s a big gap between having AI and understanding how to use it. According to Marketing AI Institute’s 2021 State of Marketing AI Report, 82% of marketers say they don’t have internal AI-focused education and training. That lack of training has a big impact on reaping the benefits of AI; 70% report that lack of education and training is the top barrier to AI adoption.
Regardless of how powerful a tool might be, it can’t do much if you don’t know how to use it. CMOs must be strategic about how to introduce AI marketing tools to their teams. Here are three strategies to use when tapping into AI’s trillion dollar value.
Foster an Environment Around Education
CMOs are responsible for steering the ship as their teams pursue new horizons. Don’t go on a journey without a map. Create a comprehensive education program to help advance your marketing teams alongside developments in AI technology. By staying ahead of the curve, they’ll be able to leverage AI to meet business needs more efficiently.
The next generation of marketing professionals needs to understand more than how to write a snappy tagline or how to identify where customers are in the funnel. They will also need to be proficient in data analysis and be able to comfortably work with AI to run the true test of where it performs best: marketing experiments.
Design your programs to stay up-to-date with current and evolving trends. This ensures your team constantly upgrades their skill sets and keeps them ahead of the curve.AI IRL: Marketing AI Institute (MAII) offers a variety of course bundles designed to help your marketing teams stay in the know when it comes to AI. Some key topics include:
- Learning how to pilot quick-win AI projects
- Navigating modern marketing challenges more efficiently
- Using AI in the cloud
- Leveraging AI and predictive analytics to drive marketing strategies
Start Small, Then Go From There
AI will soon be integrated into every aspect of marketing. It will be an essential team player in any marketing department, with its superhuman ability to scale beyond what’s possible with people alone.
To effectively integrate AI as a marketing team member, CMOs must determine where AI fits in best in the current workflow. Starting with smaller-scale marketing experiments can help your teams adjust to using AI to supplement their work. Small experiments are also often lower risk, meaning your team can more easily celebrate the little victories and won’t be discouraged by small setbacks.
Starting small can also bolster communication around the data-driven value of AI across the organization, further nurturing a company culture that sees AI as your brand’s MVP. As your team and organization become more acquainted with AI tools, you can pursue more ambitious AI goals.
AI IRL: Arts and crafts retailer Michaels used the power of Persado to drive results for SMS and email campaigns. Through leveraging our Motivation AI platform to predict and generate hyper-personalized language, Michaels was able to:
- Increase engagement and loyalty
- Boost CTRs by 41% with SMS campaigns
- Boost CTRs by 25% with email campaigns
Encourage Mutual Learning Between Humans and Machines
According to the MIT Sloan Management Review, companies that focus on continuous organizational learning are 73% more likely to achieve a significant impact with AI. Teams that only cover the basics of AI implementation, however, are only 39% likely to unlock similar results.
Effectively integrating AI into your existing workflows requires a constant stream of communication between marketer and machine. Guide your teams to keep their finger on the pulse by consistently collecting and analyzing the data that your AI tools are communicating back to you. The results of those findings will provide the foundation for your future marketing strategies.
AI IRL: The key to communicating with machines is approaching testing with an open mind. Setting up experiments for web content can get particularly tricky when involving third-party testing timelines. Persado Web Standalone overcomes these obstacles with a simple one-time setup, drastically reducing time to value and unlocking quick wins, all while scaling AI-generated content.
AI and Marketing: It’s a Team Effort
CMOs have the power to turn AI from a snappy buzzword into a tangible tool for innovation. Aligning your teams with the power of AI is a matter of continuous and real-time education, experimentation, and communication. These strategies make all the difference when it comes to producing data-driven results.
Though it’s smart to start small, AI implementation should also start as soon as possible. Prepare for tomorrow’s marketplace by getting ready with AI today, and you’ll gain a great seat at the table.
Learn more about AI’s potential in marketing and how your team can adopt using the 10-step playbook in AI for CMOs: The Real-World Playbook for Digital Transformation – a collaboration between MAII and Persado.