Why Gen AI is No Longer a Buzzword For Marketers

Generative AI has become a prominent topic of discussion across every department in businesses around the world.  A recent report from McKinsey estimated that Gen AI has the potential to generate a value ranging from 2.6 trillion to 4.4 trillion annually across different sectors. You’ve probably already seen the impact it’s starting to have on businesses leveraging tools like Chat GPT, including increased efficiency, improved productivity, and even innovation.

To help you get the most out of your Gen AI strategy, we hosted a webinar featuring leading research and advisory firm, Forrester, on the top marketing challenges that AI can help tackle, and how successful businesses have been putting this into practice — plus a few starting steps that you can take.

Listen to our recent webinar featuring Forrester, where guest speaker, Katie Linford, Principal Analyst, Revenue Operations at Forrester joined Adverity’s VP of Product Marketing, Jessica Cardonick to delve deep into all things Generative AI. You can check out the full video here.

What are the key marketing challenges and needs?

Let’s start by taking a look at some of the key challenges marketers are facing, what they need in order to tackle them, and where Gen AI fits into this puzzle.

Forrester’s recent report, “Smarter Together: Trends In AI For B2B Marketing,” shows that B2B marketing decision-makers say that data quality and access are among their top three challenges for achieving their goals. Decision makers also said improving the quality of marketing data over the next 12 months was among their top three needs for meeting their marketing priorities. “We're seeing data challenges eroding the ways that marketing could be leveraging AI,” says Katie Linford, Principal Analyst, Revenue Operations at Forrester on the webinar.

Greatest challenges to achieving marketing goals:

1. Lack of clarity and/or alignment pertaining to business goals and objectives
2. Quality of customer data or market data
3. Accessibility of data
   
   

Needed most to support marketing priorities:

1. Improve use of analytics to measure marketing contribution and enhance decision making
2. Improve marketing alignment and collaboration with other departments (including Sales, Product)
3. Improve the quality of buyer, customer, partner, etc. data or market data

Among all the challenges and needs that marketers have in meeting their objectives, data takes up half of these top six spots. “This really speaks to how critical good data is for marketing to be successful,” says Katie, adding “Successful companies are more likely to recognize this and treat data as a valuable corporate asset, and not just a byproduct of their customer engagements or operations.”

To hear more about how successful companies support a strong strategy, where Gen AI fits into the puzzle, four key areas where Gen AI supports marketers, and how to get started with Gen AI, watch the full video here.