Podcast audio transcript
Mimi: Hello listeners, this is Mimi; Thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. today, we are discussing about how Gen AI-based agile marketing frameworks can help you optimize your digital marketing investments.
To talk about this, we have with us, Shyam Rao, AVP and strategic business practice head here at Infosys BPM.
Welcome Shyam. how are you today?
Shyam: I’m doing very well, Mimi. glad to be back in the podcast again.
Mimi: Yes, we are as always eager to hear your thoughts on marketing, Shyam.
We are seeing tremendous growth in Gen AI, and marketing is one of the areas that it influences a lot. how are you utilizing Gen AI to improve on marketing spend?
Shyam: Yes, Mimi, Gen AI is new but quickly becoming critical to the marketing function. Organizations are discovering and adopting new use cases of Gen AI to improve marketing efficiencies.
As you know, digital marketing can be a complicated process, especially in the current market, which is ever-changing. to achieve the desired outcomes, strategic tune-ups and innovations are extremely essential. one must undergo the process of rigorous testing and refinement of strategies, to get high-performing results with cost efficiency.
Outsourcing, Gen AI adoption, and agile marketing are some of the significant catalysts for an optimized digital marketing organization.
As we already know, outsourcing is a strategic cost-reduction method for marketers. As a marketing partner, we can centralize marketing operations in low-cost locations and run it at scale, thereby improving process efficiency and drastically reducing cost of operations.
An exciting and futuristic thing is that this centralization of marketing operations enables us to deploy Gen AI solutions, which provides immense benefits in terms of economies of scale and better ROI. Gen AI makes the marketing space more collaborative and streamlined. Gen AI inclusion, in the form of chatbots, content generators and virtual assistants, can overcome a lot of challenges and deliver excellent business outcomes.
Mimi: That’s absolutely true. especially as we know the power of Gen AI. it’s practically everywhere now and is evolving at breakneck speed.
As you mentioned that Gen AI fuels efficiency and effectiveness in several areas, could you touch upon some of these specific areas in digital marketing?
Shyam:
Sure, Mimi.
Here are some of the areas where Gen AI is contributing massively towards optimization:
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Firstly, automated generation of content forms, such as product descriptions. This enables workforce to focus on high-content strategies and quality control.
- Secondly, Gen AI analyzes engagement patterns and optimizes the email automation & social media scheduling, based on best posting times and content formats.
- Another area where Gen AI is contributing is in customer behavior analysis. AI-powered levers identify customer behaviors based on preferences and demographics, allowing them to predict future behavior and adapt strategies accordingly.
- Lastly, hyper-targeting of messages is another area that helps companies tailor their products to the needs of specific audiences, maximizing return on content marketing investments.
These are only some of the key areas; there are a lot of others that we continue to explore.
Mimi:
Yes, the promise and scope of Gen AI can be quite vast. i recently read a statistic in reuters that spend in AI-focused search advertising will grow to 26 billion dollars by 2029.
Along with such million-dollar benefits, there must be some risks also with Gen AI. what are some of the risks that you see?
Shyam: Good question, Mimi. yes it’s absolutely true that along with benefits, we have to mitigate some risks.
Some of the risks that Gen AI poses to marketing function include misleading or biased information, hallucinations, copyright issues, ethical concerns, privacy, and security.
To eliminate such risks, the need of the hour is an agile marketing methodology. this methodology focuses on fast-paced delivery with constant feedback loops. this helps eliminate bottlenecks in workflows generated using large sets of data - data which is, more importantly, evaluated and authenticated by humans in the loop.
Mimi: I see. so, you are saying that an agile methodology with human agents correcting any AI error is the right way to go.
Could you give more information about this methodology and the feedback loops?
Shyam: Of course, Mimi.
Each iteration of AI-based generation comes with a review cycle, enabling teams to focus on customer feedback on both the strategy level, as well as genAI technology stack usage. this helps reduce the large investment risk in the marketing domain, especially since results are not always proportional to the effort involved.
An organization can achieve a truly optimized approach using genAI and agile marketing methodology by three means:
- Firstly, being proactive with investments and campaign execution
- Secondly, responding to change over a static plan, and constantly evolving it
- And thirdly, focusing on high-quality, measurable outcomes over quantitative results, thereby building for the future
Eventually, these will help companies gain a competitive edge with the scope of getting even-better results over time.
Mimi: Great points, Shyam. CMOs have quite a task on themselves with this extensive development in technology, which can provide ground-breaking results.
I would like to thank you for today’s podcast. it was a great pleasure to have you back with us.
Shym: That’s true, Mimi. The pace of the CMO office is drastically changing, and we are here for it. It’s our role to help clients navigate through all their challenges, while minimizing costs and providing efficient deliverables.
Thank you again for hosting me today!
Mimi: Dear listeners, if you enjoyed our podcast today, please don’t forget to subscribe to it on the platform of your choice; our podcasts are available on apple podcasts, Spotify, and several others. Please don’t forget to share and like it on social media.
Also, if you have any queries, do reach out to us through the infosys BPM website – www.infosysbpm.com.
Once again, thank you for tuning in, stay safe and sharp. this is Mimi signing off. have a great day!
