Gen AI in digital marketing: How agile marketing frameworks truly optimize your marketing investment in an uncertain economy

Hello listeners, this is Mimi. Thank you for tuning in to yet another exciting and informative podcast from us at Infosys BPM. Today we're discussing how Gen AI-based agile marketing frameworks can help you to optimize your digital marketing investments. To talk about this we have here with us, Shiam Rao, AVP and strategic business practice head here at Infosys BPM. Welcome Shiam, how are you today? I'm doing very well Mimi, glad to be back in the podcast again. Yes, we're always eager to hear your thoughts on marketing Shiam. We're seeing tremendous growth in Gen AI and marketing as one of the areas that it influences a lot. How are you utilizing Gen AI to improve on marketing spend? Yes Mimi, Gen AI is new but quickly becoming critical to the marketing function. Communications are discovering and adopting new use cases of Gen AI to improve marketing efficiencies. As you know digital marketing can be a very complicated process, especially in the current market which is ever changing. To achieve the desired outcomes, strategic tuneups 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 model for marketers. As a marketing partner, Infosys can centralize marketing operations in low cost locations and run at its scale, thereby improving process efficiencies and drastically reducing cost of operations. An exciting and futuristic aspect of this centralization of marketing operations is that it enables us to deploy Gen AI solutions, providing the benefits or 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 in deliver excellent business outcomes. That's absolutely true, especially as we know the power of Gen AI is practically everywhere now and it's evolving at break next 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? Oh sure, Mimi. Here are some of the key areas where Gen AI is contributing massively towards optimization. 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 email automation and social media scheduling based on 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. And lastly, hyper targeting of messages is another area that helps companies tailor their products to the specific needs of their audiences, maximizing return on content marketing investments. These are only some of the key areas. There are lots of other areas that we continue to explore. Yes, the promise and scope of Gen AI can be quite vast. I recently read a statistic in Reuters that spend in AI focus search advertising will grow to $26 billion 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? Good question, Mimi. Yes, it's absolutely true that along with benefits, we have to mitigate some risks. One of the risks that Gen AI poses to the marketing function include misleading or biased information, hallucinations, copyright issues, ethical concerns, privacy and of course, 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. I see. So you're saying that an agile methodology with human agents correcting any AI error is the way to go. Could you give more information about this methodology and feedback loops? Of course, each iteration of AI-based generation comes with a review cycle, enabling teams to focus on customer feedback on both the strategic and tactical levels. 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 Gen AI and agile marketing methodologies 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. Great point, Shiam. CMOs have quite a task on themselves with this extensive development and technology, which can provide groundbreaking results. I'd like to thank you for today's podcast. It was a great pleasure to have you back with us. That's true, Mami. The base of the CMO office is drastically changing and we're here for it. It's our role to help clients navigate through all their challenges while minimizing costs and providing efficient day-grables. Thank you again for hosting me today. Thank you for tuning in.