Study reveals 66% of Marketers Using Generative AI Experienced Positive ROI

Despite a temporary slowdown in recent years, the emergence of generative AI tools and systems like Kafkai, ChatGPT, Bard, and Dall-E has reignited interest in AI technology. These generative AI tools offer extensive opportunities for marketers.

But how are marketers utilizing these tools, and how do they impact business outcomes?

A recent study conducted by Botco.ai shed some light on these questions.

We summarize the findings of the study in an easy-to-digest format below:

The Majority of Marketers Utilize Generative AI for Social Media Copy and Image Creation

The majority of marketers employ generative AI to create content copies, images, sales collaterals, and more within a short time frame. The generated content is not perfect, but it allows marketers to expedite the final product's delivery.

Given the wide range of applications for generative AI, it is unsurprising that marketers are including it in their toolkits.

So, what specific purposes do marketers use it for? According to the study:

• 44% of marketers employ it for crafting email copies
• 42% use it for generating social media copy
• 39% utilize generative AI for creating social media images.

Regarding the format of the contents produced,

• 69% of respondents mentioned using generative AI for image creation
• 58% for text generation
• 50% for producing audio and video files
• 37% utilize it as a chatbot
• 36% rely on it for generating code snippets.

Only 17% of marketers stated that they do not utilize generative AI. This indicates that generative AI has become commonplace within the industry.

Among the non-adopters, 31% expressed their intention to start utilizing these tools within the next year, while 46% plan to adopt them within the next two years.

There is a division in how AI is employed in the content creation process. At least two-thirds of marketers employ generative AI for creative brainstorming sessions, outlines, and initial drafts, while 49% use it to generate final content.

Furthermore, 78% of companies utilizing generative AI are classified as B2B, while 65% fall under the B2C category.

The survey respondents identified the most popular generative AI tools as ChatGPT (55%), Copy.ai (42%), Jasper.ai (36%), Peppertype.ai (29%), Lensa (28%), Dall-E (25%), and MidJourney (24%).

Training Teams Is the Biggest Hurdle in Adopting Generative AI

Although generative AI is being adopted across the industry and yields benefits, organizations still encounter obstacles in adoption. These are the common ones cited within the study:

• 50% of respondents say training their teams to effectively utilize generative AI is an issue
• 45% cited the cost of adopting generative AI as a hurdle
• 45% say that security and privacy are a concern
• 31% said that data scarcity is a problem
• 29% said that subpar content quality is an issue
• While another 24% pointed out unethical biases as a hurdle to using generative AI

Given that generative AI functions similarly to general AI, concerns about content quality and unethical biases are justified. The quality of the output is contingent on the training data provided. If biased or incorrect data is fed into the system, the generated information will be prejudiced or inaccurate. Therefore, marketers should exercise caution when selecting their AI tools to minimize the risk of disseminating false information.

Approximately three-quarters of respondents reported that their AI tools were trained on proprietary content. This approach theoretically mitigates the problem by excluding erroneous data from the internal and proprietary generative AI pools.

Marketers Observe Enhanced Performance Through Generative AI

Marketers have witnessed numerous benefits from utilizing generative AI for content development.

Approximately 58% of respondents cited improved performance as the most significant advantage. Similar benefits have been observed in other creative processes, with 50% of respondents reporting increased creative variety and 47% noting faster creative cycles.

Among the companies employing generative AI, 66% have experienced a positive return on investment (ROI), with many achieving up to three times their initial investment. Furthermore, 50% of respondents stated that cost efficiencies improved over time.

Chatbots Can Drive Better Outcomes

While marketers are harnessing generative AI for various purposes and reaping numerous benefits, the study also revealed that an undervalued method of extracting value from these tools is leveraging chatbots, which can significantly enhance marketers' ability to reach and engage with customers.

Modern AI-powered chatbots allow organizations to enhance their business strategies and improve the overall customer experience (CX). These chatbots streamline customer interactions and create personalized and engaging experiences, ultimately facilitating business growth.

When integrated with other generative AI applications, chatbots enable businesses to develop more targeted and personalized campaigns. By adopting chatbots into their workflow, companies can stay ahead of the competition and ensure long-term success in today's dynamic marketing landscape.

Marketers can incorporate chatbots into generative AI-driven marketing in the following ways:

1. Personalization and customer segmentation: Chatbots can be programmed to analyze user data and preferences, facilitating the creation of personalized experiences. This allows companies to segment their target audience effectively and tailor campaigns based on audience interests, behavior, and preferences.

2. Customer support: AI chatbots can provide round-the-clock customer support, handling a wide range of tasks. By delivering prompt and accurate assistance, chatbots assist companies in retaining customers and alleviating the workload on human customer support representatives.

3. Lead generation and nurturing: Chatbots can engage with prospective customers, gather relevant information, and qualify leads based on specific criteria. Companies can also utilize chatbots to nurture leads by sending personalized content and follow-up messages to maintain engagement.

4. Enhancing other generative AI tools: By combining chatbots with other generative AI tools, companies can enhance the capabilities of the latter. For instance, content creation tools can leverage chatbot interactions with users to generate personalized messages or marketing materials, resulting in more effective campaigns.

5. Acquiring data insights: Chatbots enable companies to collect valuable user information and insights, which can be used to refine marketing strategies and optimize the customer experience. By analyzing these data and insights, companies can identify pain points, trends, and opportunities for improvement.

Should Marketing adopt Generative AI?

Generative AI is reshaping the role of marketers. Professionals in various marketing positions are now leveraging tools like ChatGPT to streamline their work processes and increase productivity. While generative AI offers numerous benefits, marketers have yet to fully leverage its potential.

By harnessing tools as chatbots, marketers can multiply their impact, delivering highly targeted and personalized campaigns and engaging their audience more effectively. Therefore, marketers should seriously consider incorporating chatbots into their workflows to gain a competitive edge in today's challenging market.