At Google Marketing Live 2023, Google unveiled a series of Generative AI tools to help advertisers maximize time and increase return on investment.
When the first Google Marketing Live event was held in 2013, advertising had a major shift from traditional marketing to mobile devices. After 10 years, with the continuous development of artificial intelligence (AI), the advertising industry has had a new breakthrough thanks to the help of AI, creating a new era: AI-powered advertising.
The 2023 Google Marketing
Live event launched a series of Generative AI tools to support advertising agencies in delivering experiences, enhancing creativity to create competitive “advantages” and optimize advertising performance. The newly announced Generative AI toolkit includes: Google Ads, Performance Max, Product Studio and Search Generative Experience (SGE) in Search Labs .
Google Ads: Conversational Experiences & Auto-Generated Content
An advertising campaign goes through many stages and tasks. To support the advertising process more optimally for Marketers, at the event, Google launched the conversational feature with natural language in Google Ads. This manager helps users launch campaigns and simplify Search Advertising by combining existing expertise with Google AI.
To do this, you provide a preferred landing page from your website. Google AI will then summarize the content and suggest keywords, descriptions, images, etc. that are suitable for each of your campaigns. At the same time, you can ask Google AI as if you were discussing with a colleague to find good ideas, optimize, and improve advertising effectiveness.
google-ads
AI will suggest relevant and effective content for the campaign, including keywords, titles, descriptions, images, and more.
Additionally, Google will enhance ACA with generative AI to create and tailor Search Ads more effectively based on the context of the query. The mode uses content from existing landing pages and ads to generate headlines and descriptions.
For example, you search for the keyword “skin care for dry sensitive skin”. The AI will use content from the brand landing page and existing ads with headlines that match the keyword, such as “Soothing Your Dry, Sensitive Skin”. This helps the ad campaign sell closer to the original direction, increasing content visibility. .
Product Studio’s innovative AI features
Google is launching Product Studio, a eature integrated into Merchant Center Next (the replacement for Merchant Center), that leverages artificial intelligence to help advertisers create background images for multiple versions of product images quickly and easily, based on text.
This feature will help optimize advertising images, making the content stand out. Not stopping there, the AI Product Studio feature also allows advertisers to remove the background to maximize the use of their visual content, improving the quality of small or low-resolution images without having to retake them.
Enhance creativity in the “Performance Max” campaign
“Maximize Performance” aims to increase conversions for businesses. To do that, Google is bringing generative AI to campaigns. This makes it easier for marketers to create customized content and scale with just a few taps.
CD_blog_AI_update_mkt_2
With this feature, users only need to provide their website, Google AI will research the brand to create additional text and other relevant content for the advertising campaign. Moreover, Ai can suggest product-specific images to create advertising effects with users. In addition, to improve performance, Google is also improving the goal of new customer acquisition . At the same time, re-engagement for campaigns in “Maximize Performance”.
Optimize shopping performance with Search Generative Experience
Google also announced new generative AI capabilities coming to Google Search to help businesses grow and spread their brands. Users have the Search Generative Experience (SGE) experience.
The feature is designed to provide users with product details, prices, and aggregated information. Google says that this AI technology helps users shop more easily by filtering information from 35 billion product listings on Google’s Shopping Graph to display relevant results. However, to experience it, users need to join Google’s Search Labs program – a new program that allows them to test the latest search experiences from Google.
We prioritize the creation of detailed lists of C-level contacts, supported by a dedicated team of experienced professionals. Our satisfied clients frequently leave us glowing testimonials, and we welcome you to become one of them. Feel free to connect with us through our trusted online platform at your convenience; we are committed to providing swift and outstanding service.
It can be seen that a series of new Generative AI features launched by Google will open a new era: AI-supported advertising. This not only brings convenience to advertisers but also optimizes the user experience. According to experts, with the support of Generative AI, the advertising industry will have many breakthroughs in the future, bringing many profitable values to businesses.
Threats:
are negative external impacts that affect your business operations. It can be the massive increase of competitors in the same industry or the impact of the economy (inflation, taxes, interest rates, etc.)
SWOT model in marketing strategy for new products
SWOT model in marketing strategy for new products
Define marketing strategy
To have a direction to build a marketing strategy for a new product, you can apply classic marketing models such as the 4P and 7P marketing models . With 4P marketing, it will include the following elements:
Product: The product mentioned here is the “upcoming” product.
Price: is the selling price of a product on the market. Price may depend on the cost of raw materials, transportation, labor, assembly and production, etc.
Place: is the location where consumers c level contact list can buy the product (for example, markets, shopping malls or e-commerce platforms). The location is where you can position your product segment, so price and location factors must be considered appropriately.
Promotions: are methods and activities to promote and market products to consumers. For example: running ads, promotions, press conferences, exhibitions, etc.
With 7P marketing will include the following 3 factors:
People:
are individuals in the business who interact with customers, they can be marketers, consultants or customer service staff. When your staff has confidence in the product, then customers will begin to trust your product. In addition, they will be the ideal bridge to receive customer feedback to improve product quality and enhance customer experience.
Process: refers to the process of transporting and providing products/services from the distribution point to the consumer. In addition, customer service and return and refund processes are also included in this factor.
Physical Evidence: are forms used to identify products or confirm the presence of a business in the market. For example: brand name, packaging, etc.
4P and 7P in marketing strategy for new products
4P and 7P in marketing strategy for new products
Then, you can consider some other popular marketing strategies to complete your new product marketing strategy:
Pricing Strategy
Communication strategy
Brand positioning strategy
Multi-channel marketing strategy
Differentiation strategy…
Deployment and monitoring
Finally, one of the important steps that cannot be ignored in building a marketing strategy for a new product is: implementing and monitoring the strategy. This work can help you track the progress of the plan and create statistical reports. From there, you can promptly respond to arising situations, and conduct in-depth analysis to gain experience for the next marketing strategies.
Thus, when building a marketing strategy for a new product, you need to carefully research and analyze the products, customers, goals and factors affecting the campaign to increase the success rate of the new product launch marketing campaign.
Live chat enhances product information and purchasing options
With live chat, customers can request detailed information about the product, including specifications, color options, sizes, prices, and shipping and warranty policies. According to a 2019 SuperOffice report, 51% of customers said they felt more satisfied when they had a live chat tool to ask questions about a product.
Live chat enhances convenience and flexibility
Live chat offers convenience and flexibility to customers when shopping. Customers can chat directly with sellers from any location with an internet connection without having to travel to a traditional store. This saves time and effort for shoppers. According to a 2020 JD Power report, 42% of consumers have used live chat to make a purchase, and 71% of them said they had a positive experience.
Live chat tracks and optimizes the shopping journey experience
Live chat provides businesses with valuable data about their customers’ buying journey. Through live chat, businesses can gather more industry email data information about their customers’ opinions, preferences, and needs. This data can be used to enhance the buying experience, optimize processes, and better serve customers. According to a 2020 Comm100 report, 79% of businesses believe that live chat provides valuable data to improve sales and customer service.
How to Make the Most of Live Chat’s Impact on Purchasing Decisions
To maximize the impact of live chat on purchasing decisions, you can take the following steps:
Provide in-depth advice:
Digging into customer needs and providing personalized advice based on the information customers provide during chat helps build trust and increases responsiveness to customers’ individual needs.
Ensure fast response times: Enhance your chat support team and implement an automated live chat system to ensure fast response times. Research ba leads shows that fast response times are closely linked to customer satisfaction and increased likelihood of a customer making a purchase.
Use live interactive tools: Provide live interactive tools such as images, videos, size charts, product reviews from previous customers, etc. so that customers have full information about the product.
