#001: The State of A.I. in Marketing

Read Time: 3 min

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This first article is going to be a quick one, as it will form my thesis for why organizations can’t be late to adopt AI.

Let’s start with the obvious — The AI for marketing industry is on fire!

Some stats:

• The global “AI in marketing” market is projected to reach $23.8 billion by 2025, growing at a CAGR of 26.3% from 2020 to 2025. (Source: MarketsandMarkets)
• The use of AI in marketing has increased by 44% since 2018, with 84% of marketing organizations using or planning to use AI in the next year. (Source: Salesforce)
• This year, AI-powered marketing technology is expected to reduce costs by 30% and increase revenue by 25%. (Source: Deloitte)

But it’s not until you break each of these stats down that you realize how quickly the AI for marketing industry is really growing:

The global “AI in marketing” market reaching $23.8 billion by 2025 is an impressive stat at face value. But what’s 10x more impressive is that AI spending in marketing is projected to grow from $2 billion in 2020 to $29.8 billion in 2025.

That’s almost 15x bigger than the comparable digital advertising industry.

This is a signal of where things are likely headed.

The last time an industry saw growth like the use of AI in marketing, it was in 2010 when social media was taking off.

I’m betting the same thing will happen again here.

As if the above wasn’t impressive enough, the stat that AI-powered marketing technology is expected to reduce costs by 30% and increase revenue by 25% this year is just a taste of AI’s direct impact on revenue and profitability.

Many people look at AI just as a way to reduce costs. But the better way to look at AI adoption is how it will increase revenue.

My take on all of it?

AI is NOT going to replace marketing like many suggest. But it will be a mandatory companion to your marketing efforts.

For example, social media marketing didn’t replace all marketing. It became a new channel to use to connect with current and prospective customers at scale.

But imagine if your business was late to adopt social media as a content distribution channel.

The main impact of being late is the loss of market share compared to your competitor who is taking avantage of these new technologies.

I view AI for marketing the same way.

The good news is we are still early (and most businesses will be late), but you don’t have to be. Now is the time to go all-in on integrating this new technology as a mandatory companion to boost revenue from your sales and marketing efforts and take back market share from your competitors.

In the next edition of this newsletter, I am going to share with you my recommendation on the best way to harness AI in your marketing to gain massive market share and create a system that will allow you to generate leads and sales on demand.

See you in the next article!

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