Why CMOs Need AI to Keep Up With AI 🤖

➡️ AI is like 1000 years of knowledge - so spending time on low level tasks is now affordable - this is one reason why AI gives are marketing team new advantages. 💡

👉 Use AI to learn about AI - studying innovations in the field itself to be an expert on what's possible.

👉 Use AI to learn about the business/customers - gaining insights by applying AI analytical tools to marketing-related data.

The stats -

AI adoption in marketing is happening faster than many expect - according to Salesforce research, 61% of marketers say AI is revolutionizing their field.

We can see that 35% of current CMO’s are currently using AI. (Sept 2023 - eMarketeer)

What areas can AI help a CMO with?

⭐️ Customer insights and performance data in real-time - arming CMOs with up-to-date info for board meetings and leadership discussions.

⭐️ Enhance strategic planning by identifying blind spots, scenario planning, and predicting competitor moves.

⭐️ CMOs using AI show double the revenue growth compared to peers, according to McKinsey. AI unlocks new growth opportunities.

⭐️ Presentations, reports, and communications by generating customized content and insights rapidly.

How can you use AI to keep up with AI?

⭐️ Polymr, Tellius, TrendHunter to monitor news, research trends, analyze data, and generate insights.
⭐️ Generative AI to develop future marketing scenarios and simulations that pressure test strategies against expected AI-induced shifts.
⭐️ Use MonkeyLearn and customerLabs to better anticipate how customers, competitors, and markets will evolve.
⭐️ Access coaching and simulations to improve leadership skills - Wonder is good for this.
⭐️ Utilize Gen AI to identify hidden biases, groupthink, and blindspots
⭐️ Partner with technical teams to ensure marketing and AI systems are tightly integrated. Public AI, private AI, bridges and confirmation training are important.
⭐️ Expand AI skillsets of marketing team members so human talent can be augmented by AI, not replaced by it.

What changes are we keeping up with?

⭐️ Evolving from CMO to Chief Customer Officer - the pace of change will shift the CMO function into an end-to-end customer experience leader.

⭐️ Adopting an AI-first mindset - In addition to bolting on AI to existing operations, reimagining marketing in an AI-native way. New org design, KPIs and skill building.

⭐️ Focusing on human-machine collaboration - The right balance of human creativity and judgment with AI scale and automation.

⭐️ Contributing to enterprise strategy beyond marketing - Leveraging marketing's AI capabilities to identify growth opportunities, build competitive moats, and guide strategy.

⭐️ Building strategic foresight - Using AI prediction, generative insights, and scenario planning to evolve marketing strategy for multiple potential futures versus one.

According to McKinsey, early use of AI is already signalling as much as a 2x increase in performance. 🔥