Although most marketers predict that their content marketing budgets will increase as the year goes on, new research indicates that they intend to invest more in artificial intelligence (AI) solutions for assets and skills, such as writing.
Beantown Media Ventures recently published the “2023 Content Marketing and Generative AI Outlook,” and statistics suggested that the majority of marketers (45%) believe their content marketing budget will increase throughout 2023. 29% forecast that their content marketing budget will at least stay the same. However, most respondents (40%) stated that they foresee AI solutions, such as ChatGPT, replacing junior writers on their team. Approximately 29% believe that AI tools and technology will replace all of their marketing writers.
“AI is polarizing for the potential cost savings to content marketers and many other departments,” noted the researchers behind the report.
How Marketers are Currently Using AI and Predictive Analytics
In addition to using AI for content marketing purposes, previous research suggests that marketers have been looking for ways to leverage it to better understand their target audience as well.
Pecan released its “State of Predictive Analytics in Marketing” report, and data indicated that 40% of marketers now want to be able to utilize AI to measure customer lifetime value. About 46% would like to leverage AI solutions to predict churn and retention on a customer level, while 40% want to be able to identify upsell and cross-sell potential.
Most marketers (51%) are currently utilizing predictive data to forecast future customer behavior, and 50% are using it to forecast future customer trends.
Check out our Senior Director of Digital Marketing, Casie Gillette’s, recent blog post on making the most of your marketing budget!