How AI Is Revolutionising Startup Marketing

Republished By Plato

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According to a recent report, AI adoption is particularly high among fast-growing start-ups in the technology, professional services, and manufacturing sectors. What does it make so appealing for these companies to adopt it? HubSpot, which surveyed over 1,000 start-up founders worldwide, reveals some compelling insights.

When it comes to adopting AI within start-ups, marketing is at the forefront. The report highlights three key findings.

1. The most impactful tool for driving growth

Firstly, two out of three marketing teams use AI tools, with 43 per cent of them indicating AI as the most impactful tool for driving growth. Machine Learning (ML) is employed by these startups to predict customer behaviour, personalize marketing campaigns, dynamically adjust prices, and automate customer service. This level of automation and personalization not only improves operational efficiency but also enhances the customer experience, driving growth and profitability. Indeed, 74 per cent say that AI has positively impacted their ability to upsell, that is, offering a higher-priced or more advanced product to the customer or cross-sell, that is, suggesting complementary products to what the customer is already buying.

2. GO-TO-MARKET STRATEGIES

Secondly, an overwhelming 86 per cent of respondents believe that AI has had a positive impact on their go-to-market strategies, that is, the set of actions and processes that a company implements to bring a new product or service to the market, from development to distribution and sales.

3. SALES PROSPECTS

Lastly, nearly 60 per cent of those interviewed stated that AI tools have been crucial in helping them reach more qualified sales prospects.

To quote Ethan Mollick, an associate professor at the University of Pennsylvania who studies AI and innovation and is about to publish a new book on the subject, AI is like a “co-founder” to many entrepreneurs.

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