In today’s fast-paced business world, adopting cutting-edge technologies can give you a significant competitive advantage. One such revolutionary technology is ChatGPT, a language model designed by OpenAI that is able to understand and generate human-like text. While our programming does not typically take on topics of bleeding-edge technology, the capabilities of generative AI have crossed the chasm with incredible capabilities with game-changing potential for many industries and applications, not the least of which is marketing. Our Marketing Peer Group meeting on February 9th was a hands-on demonstration of tips and tricks to harness the power for three marketing use cases; segmenting audiences, brand positioning, and new product/service research.
Led by UWEBC’s Marketing Practice Director Bill Carrier, participants discussed how leveraging ChatGPT’s language processing and generation abilities can transform their companies’ marketing strategies and create a more customer-centric approach that drives business growth.
The meeting kicked off with a presentation by Richard Bowman, co-author of PROMPT. Richard introduced participants to PROMPT, an insightful guide to using ChatGPT that provides a comprehensive overview of its capabilities and practical applications. Richard gave the rundown of the outline of his book and explained that it is structured in a way that allows readers to quickly get up to speed with this new technology and its potential uses through numerous examples and use cases. Richard then put ChatGPT to use as he gave the participants a live demonstration of what this AI model can do. He typed in several prompts into the chatbox that demonstrated how ChatGPT can be used for marketing research, market segmentation, exploring creative ideas, and content generation.
After Richard’s engaging presentation and live demonstration, we had a stimulating member panel discussion with Paul Brienza from Laughlin Constable and Ben Wischnewski from Brady Corporation. Paul and Ben shared their nascent experiences with ChatGPT and how it has already positively impacted their workplaces. During the discussion, Ben described how he discovered ChatGPT as a copywriter and has been experimenting with it to generate creative ideas at the beginning of his writing process, obtaining valuable feedback faster, and speeding up the overall process. On the other hand, Paul, who specializes in business development, emphasized how ChatGPT has helped him gain faster and more efficient access to crucial information, thus accelerating the research and brainstorming process.
Finally, meeting participants split up into breakout groups to test the technology themselves and find best use cases to incorporate into their own workflows. This discussion shed light on the significance of adopting cutting-edge technologies in today’s fast-paced business world and how ChatGPT specifically can give businesses a significant competitive advantage. By adopting technologies like ChatGPT before competitors, businesses can gain a head start in utilizing its capabilities and reap its benefits. With the insights and knowledge gained from this Marketing Peer Group meeting, participants can now start exploring the potential applications of ChatGPT and other emerging technologies to drive growth and stay ahead of the competition.
Published March 1, 2023
Dylan Kopf and Jenny Zhang, Marketing Student Assistants