How Will ChatGPT Impact the Future of Advertising

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AI has entered the mainstream. The technology has taken over nearly every industry and led to major questions about how it will impact the future of society. It started with ChatGPT and has since evolved to Microsoft’s AI chatbot and Google’s new Search Generative Experience. While many advertisers might be fearful of what this technology means for their jobs, AI has the power to help marketers stay agile and responsive in a fast-changing digital landscape. 

Many marketers still use outdated systems to plan their media mix, relying on Excel sheets or even pen and paper. AI can bring marketers to the next level, helping them synthesize and analyze loads of data and speed up the decision-making process. For instance, a snack company that just launched a new product wants to understand how the advertising tied to the launch is performing. Instead of waiting months to analyze the ad’s performance, AI can help marketers analyze the recent performance in an instant, allowing them to pivot if needed. 

Additionally, AI can help reduce wasteful spending, which is critical in a time of economic uncertainty. AI tools can scenario plan potential campaigns, providing real-time insights into how an ad would perform over the flight of the ad. This level of insight can help determine whether an investment is worth it or if it is necessary to pivot to another channel to meet ROI goals. 

Further, tools like ChatGPT can serve as a launching pad for marketers to bounce new ideas off of and will take away some of the tedious activities so they can focus on developing bigger ideas. Marketers can input the general idea of a campaign into ChatGPT and use that initial draft as a sounding board for other, larger ideas. For example, a CPG advertiser developing a new label for a product can input the color, font type and general look of a package into the tool to see what the product looks like. They can tweak or expand upon that package until they find the right fit. This saves the advertiser valuable time and allows them to think of their next big campaign or new product. 

Overall, AI can empower advertisers to uncover more powerful insights and create better, more data-driven campaigns. 

Want to learn more about how Keen utilizes AI in our platform to help teams achieve their goals?  Contact us today.

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