Marketing predictions for 2023
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This episode is available on: * Spotify * Apple Podcasts Today we discuss the big Marketing themes of 2023: * The impact of AI on marketing * Social media platforms that could replace TikTok * Trends in attribution and privacy Key Takeaways * AI, especially products by OpenAI, will have a significant impact on marketing. * AI Content still requires editors to produce good quality content. Writers should upskill themselves to write better than what AI Content generates. * YouTube and Meta can potentially fill the gap if TikTok gets banned. * Blunders caused by Google Analytics 4 may flourish new attribution products in the market that provide a complete data picture. * Apple’s App Tracking Transparency and GDPR will impact users’ privacy and business models of performance marketing solution providers. How AI impacts marketing Kevin thinks AI is hyped and has the potential to significantly impact marketing: “If I had to make some definite statements for this year, first of all, I 100% expect Google to launch a chatGPT competitor. I'm very surprised that they haven't reacted to a lot of this stuff yet. Other search engines like Neva and Perplexity.ai have already started to embed a chatGPT-like feature in the search engine and it looks really good. I'm not saying Google is doomed, but I expect them to react and publish something that makes them compete directly with OpenAI. Then there is Bing, which is also set to embed ChatGPT in Bing search. I also think we will see a lot more multimodal AI happening. I also think that we're going to see some companies build a generative AI video feature where they show you a video that stitches together some of the best moments from other videos about a specific topic – I call it the video summary.” Eli shares a contrarian view on how AI is not going to change much as it has always been here for quite a long time and is expensive: “Google Assistant is like ChatGPT, except they can't write papers. I also think from an AI standpoint, it can do things on video, it can identify things, stitch things together, and it's just going to be an improvement on something that already exists. I'm going to give a real-time answer that AI is very expensive from a computing standpoint. So right now, open AI is free. There are free tools to play around with it. I think once the doors get shut and it starts costing a lot of money from a computing standpoint, I don't think it will be as simple for people to do. There's a reason people pay subscriptions for Jasper and all these other AI tools. AI is expensive, and it's very expensive. So I think AI's here, it's been here. Not necessarily new, and I don't think it changes much.” Is AI content worth the hype? Kevin shares how AI content will increase the demand for editors and writers with domain expertise: “You still need a human editor to fix spelling errors, grammar errors, and to just make the thing pop a bit more. We've seen some big companies experimenting with and launching AI content like CNET, and Yahoo has started to experiment with AI content. I'm not talking about the type of AI content Associated Press has been publishing since 2015 where they launched about 1700 pages with AI content that are only two or three sentences long. This is not the type of content I'm talking about. I'm talking about long-form content and for that to come from an AI, it's just not yet ready to be published raw. It still needs editing, grooming, and some maintenance.” He further adds how mediocre writers may face a challenge from AI content if they do not upskill: “I think this (AI Content) is the biggest threat to Upwork and Fiverr right now. A huge swath of writers that write very mediocre content will just go away. Editors will gain in value and will be in high demand, but I think the writers that are writing basically on a level or maybe below the level of what ChatGPT can produce today, I think they really need to retrain and look for other work
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