Generative AI, especially Natural Language Processing, is a significant aspect of technology that have had a significant impact across all industries. And with the new language processing model trained by OpenAI, ChatGPT, its impact on digital marketing may be revolutionary.
ChatGPT is currently a big buzzword in the tech and marketing communities. While many business owners and marketers are hopeful that ChatGPT will significantly impact the effectiveness and efficiency of their marketing efforts, others believe that it is overrated and may not achieve these expectations.
Thus, with the right perspective, we need to square it out and see the possible impact of ChatGPT on digital marketing. We will look into the overview of what ChatGPT is and what it is not before we dive into the specifics.
So, let’s dive right in!
Everything you need to know about ChatGPT
Before we define what ChatGPT is, let’s toss it a quiz and see what it says about itself.
Question for ChatGPT: Who are you?
Here’s the ChatGPT’s response:
“I am an Assistant, a large language model trained by OpenAI. I am not a person, but rather a virtual assistant designed to assist with answering questions and providing information on a wide range of topics. My main function is to assist users in generating human-like text based on the input I receive.”ChatGPT
What is ChatGPT?
ChatGPT is a powerful natural language processing model that uses deep learning to generate conversational, human-like text responses that are based on the input provided. Unlike other chatbots using pre-programmed responses, ChatGPT provides more dynamic and varied content to help its users get rich answers to their questions. That is possible, thankfully, because it is a variant of Generative Pretrained Transformer 3 (GPT-3), a powerful AI model trained by OpenAI.
What is Generative Pretrained Transformer 3 (GPT-3)?
GPT-3 is an advanced language processing AI model created by OpenAI. It can process and generate more accurate, human-like text responses. It uses deep learning to produce text that continues your initial text prompt. You can use it in language translation, language modelling, and chatbots.
How ChatGPT work
Typically, ChatGPT works like any other AI chatbot. Based on the specific training that ChatGPT received, it can interact with users conversationally, just like a human. This model used Reinforcement Learning from Human Feedback (RLHF), where human AI trainers fine-tune it by providing conversations that play the AI assistant and the user.
The trainers then created rewards for reinforcement learning by collecting two or more model responses, comparing them, and ranking the data based on their quality. This process was done iteratively to fine-tune the model’s results, thus optimizing it to make it almost perfect. You can visit chat.openai.com to try it. ChatGPT is currently at the research preview and is free of charge.
Limitations of ChatGPT
ChatGPT has a few shortcomings that may impact your digital marketing strategy. Some of the limitations include the following:
- May occasionally provide inaccurate but plausible-sounding information
- High sensibility on phrasing, which may affect the output
- May occasionally generate biased or harmful content
- Can be excessively verbose and overuse certain phrases
- Often guesses on user intent instead of asking follow-up questions for clarification
- Has limited knowledge about the world and events after 2021
Even so, every model release uses an effective reward system and optimizations based on the collected data to improve its performance. Through iterative deployments, a better system will be achieved through reinforcement learning from human feedback (RLHF).
What is the impact of ChatGPT on digital marketing?
ChatGPT can be used in the digital marketing industry in several ways. For example, you can use it to generate personalized, automated responses to customer inquiries, craft quality content for your email or social media marketing campaigns, and guide your customers through their purchasing process.
So, let’s check out the specific ways ChatGPT can impact your digital marketing strategy.
ChatGPT generates high-quality content
ChatGPT can be significantly effective in developing high-quality marketing content for your social media or email marketing campaigns. Generating personalized content for your digital marketing is one way to provide value to your customers without spending more time and money.
ChatGPT can help you create tailored marketing messages for specific target audiences. And with personalized content, you can significantly increase your chances of making a tremendous impact on your prospect’s purchasing decisions.
So, there is a huge potential that this tool can significantly improve the efficiency and effectiveness of your content marketing efforts by helping you create quality content at scale. Thus, you can save time and resources that you can dedicate to other critical areas of your business.
ChatGPT simplifies and scales digital marketing efforts
One of the main features of ChatGPT is its ability to provide quick and detailed responses in conversations to increase your customer’s experiences. Whether a user is looking for customer service or inquiries about products or services, ChatGPT gives it all.
ChatGPT can significantly impact the digital marketing industry by handling multiple customer interactions quickly and efficiently. It is a remarkable improvement over the old, pre-programmed chatbots. This new tool provides more accurate and valuable information that is beneficial to customers.
On top of that, you do not need more support staff to scale your workload or customer services activities. With the help of this powerful model, you can significantly impact your customers’ experiences to heighten and complement your digital marketing efforts.
ChatGPT can dramatically reduce waiting time
Given that ChatGPT benefits from the advances in AI and Natural Language Processing technology, users can get immediate, human-like conversations for their queries. Thus, customers who prefer online chatting and do not need to wait during calls will benefit more from this chat model.
Moreover, the perks of enjoying reduced customer service downtimes are significantly immense. And to top it off, your businesses will keep providing 24/7 high-quality customer services, for ChatGPT doesn’t need breaks, vacations, or holidays.
Therefore, this new technology will be a big win for your company because of its speedy business marketing services, allowing you to intensify your customers’ diverse experiences faster and more lively.
ChatGPT boosts customer service quality
ChatGPT improves the effectiveness of customer services. It provides helpful and more accurate responses to your customers’ inquiries, all while reducing your workload. Using your customer service chatbots with ChatGPT allows you to deliver more articulate responses that enhance customers’ experiences.
This visible boost in the quality of your customer service will help you to address the major pain points for your customers. You can generate real, organically unfolding conversations to respond to their questions, requests, and concerns across all your marketing channels.
ChatGPT can address the following common customer service issues:
- Long response time
- Personalized conversations
- Deciding and declining inappropriate requests
- Dull or dry and predictable chatbot responses
- Inappropriate agent behaviours
- Inaccessibility or unreliable communication channels
ChatGPT can help you nurture your leads successfully
For a long time, chatbots have been the most revolutionary technology that helps you nurture your leads, guiding them into your sales pipeline. And with the powerful features of ChatGPT, you can use it to help your leads progress efficiently through your sales process.
ChatGPT can remember what users said earlier, provide follow-up corrections, and may suggest different options. These capabilities will help your leads warm up in a more efficient, personalized process to increase their engagement and help them decide.
People may often prefer to text than make phone calls to your support staff, and it is possible to increase your odds of converting them to life-long customers through a tool like ChatGPT. So, with ChatGPT, you can take your new leads through the customer’s journey in an easy yet solid start with an interactive AI marketing tool that enables you to take your business to the next level.
ChatGPT: is it the future of digital marketing?
In any way, digital marketing is constantly evolving, and advancements in AI marketing technology will most likely impact it more positively. These new technologies may not be perfect, though. So it is necessary to keep checking how they can improve your digital marketing strategies for your business.
So, will ChatGPT be likely to grow so popular because of its capabilities? Most probably. ChatGPT will become, perhaps, an indispensable aspect of digital marketing that provides more personalized and helpful responses to customers.