ChatGPTs’ instantaneous rise in popularity has proven a theory that many B2B SaaS executives have based their businesses on: that human beings can have vast amounts of data at their disposal, but only want to see the information that actually matters to them.
The impact of ChatGPT technology is not just about creating instant content. It’s about data visibility.
In the early business conversations around generative AI, most of the focus has been on content marketing, which is the obvious use case. And yes, writing content can be expensive and time consuming, but it’s nothing compared to the $2T in revenue being wasted by marketing and sales teams that don’t have the right insights into their performance metrics, and therefore are not making data-driven, strategic decisions. This point is only exacerbated by the current economic climate.
Data Visibility Is More Critical Now
“B2B marketers can no longer afford a ‘growth at all costs’ approach to building their business. ROI is now top of mind,” says Jake Klein, CEO of Dealtale, a Vianai Company.
In a downturned economy, there is more pressure than ever to become a data-driven marketer and maximize the ROI of every dollar spent on the increasingly more complex B2B customer journey. But according to McKinsey, “The resulting surge in data has not provided marketers with a substantially better understanding of their customers, because their companies’ outdated data modeling isn’t able to capture these shifts with the necessary granularity and speed.”
The fact is, most marketers are not data-driven and the underlying problem is that they were never trained in advanced analytics in the first place. They don’t know which metrics to look at and building performance data reports usually requires them to have the luxury of a data analyst on hand.
Earlier this week, Dealtale announced the development of a ChatGPT-like feature which allows marketers to type in a question about their performance marketing data and receive answers based on data from their CRM, social channels, and ad platforms. “Marketers no longer need to rely on analysts to create custom reports or face the daunting task of building them themselves,” said Klein. “They can simply ask for the information they need in an interactive and conversational format.”
Salesforce’s Marc Benifoff also recently tweeted about his company’s new feature called EinsteinGPT, which “generates leads” and “closes deals.” It’s unclear as to how the technology will work just yet, but the news certainly supports this very interesting trend around data visibility and what it will do for GTM teams.
What Does This Mean for Human Marketers?
Like most pivotal innovations, ChatGPT has instilled a level of fear amongst mid-level workers who worry about their job security. It’s a valid concern, according to a recent piece by CBS, which quotes Automation Anywhere’s CEO, Mihir Shukla as saying that “anywhere from 15% to 70% of all the work we do in front of the computer could be automated.”
Many AI experts–including the makers of ChatGPT, cited in that same article–believe that AI is a tool that will improve existing jobs. In other words, job descriptions will definitely change, but there will always be jobs for humans. Workers that once focused on manual tasks will transition into jobs that require more deep critical thinking and empathy.
This shift in employee focus makes data visibility and data literacy all the more important for the future of marketing and marketers themselves. By eliminating the friction of building reports, marketers can focus on making personalized digital experiences, strategizing campaigns, executing on creative, and creating connections with customers–the skills that only a human marketer can master.