Stay ahead of the marketing curve with our weekly roundup of the latest industry news!
We delve into the dynamic world of marketing, bringing you insights and updates on the most significant developments from the past week.
This week’s round-up:
- New AI content planning tool creates custom content strategies instantly
- Generative AI isn’t marketing’s future, it’s already part of its present
- How short videos & user-generated content impact marketing
- Brands spent $930bn on social media advertising since 2017
- Google announces Lumiere, an AI video generator
New AI content planning tool creates custom content strategies instantly
StoryChief has launched the AI Content Strategy Builder. This feature utilizes advanced language models to provide marketers and agencies with personalized content strategies and pre-populated calendars at the click of a button.
By incorporating artificial intelligence, users are freed from manual research and workflows, allowing them to access a tailored content strategy that aligns with their brand, target audience, and competitor insights.
In addition to strategy development, the AI Content Strategy Builder introduces users to other platform features like AI-generated drafting, content optimization, built-in collaboration, and cross-channel scheduling. The goal is to establish a seamless ecosystem for executing comprehensive content strategies within the StoryChief platform.
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Generative AI isn’t marketing’s future, it’s already part of its present
This article examines how generative AI, or GenAI, is being integrated into various marketing practices. One example is the startup Voop, which utilizes GenAI to create a tool that quickly and summarizes consumer insights, providing actionable next steps.
GenAI is also used in strategy and briefing, helping marketers write faster and produce higher-quality internal briefs. It aids in developing creative pitches, understanding of the target audience, and generating proposals. Additionally, it simplifies the process of creating paid social advertisements.
The article concludes by discussing GenAI's presence in media platforms like Google's ad bidding and Meta's Advantage+. These examples demonstrate the significant impact of GenAI on day-to-day operations in the industry. While acknowledging its transformative potential, the author urges marketers to ensure that GenAI enhances quality and strategies rather than solely focusing on efficiency.
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How short videos & user-generated content impact marketing
Short videos, particularly those lasting less than 15 seconds, have become a crucial marketing strategy. According to the report, 85% of viewers prefer concise and engaging content like this. On average, videos receive 2.5 times more engagement compared to long-form videos.
The report emphasizes the significance of accessibility features such as subtitles and captioning. These features expand the audience's reach and enhance the viewer's experience. Many brands are adopting a video-first approach due to the potential return on investment from video content.
Video SEO has also gained importance as companies strive for better visibility and higher search rankings. Storytelling is recognized as a key element in establishing brand loyalty and awareness.
Although video marketing offers opportunities, there are challenges involved. These include time-consuming pre-production steps, the need for equipment and software investment, and the development of budget-friendly strategies aligned with target audiences and distribution platforms.
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Brands spent $930bn on social media advertising since 2017
The social media advertising industry has experienced significant growth and is now the second-largest market in digital advertising. There are currently over 4.9 billion social media users worldwide, and more than 90% of marketers use social media to promote their brands.
This form of advertising has become a major source of revenue, with brands spending a staggering $930 billion since 2017. In just six years, annual spending on social media ads has quadrupled, reaching $207 billion in 2023. Brands are investing substantial budgets to take advantage of the influence of these platforms.
The industry is expected to continue to grow, with global social media ad spending projected to reach nearly $220 billion in 2024, representing an increase of almost 330% since 2017. Overall, the market is predicted to grow a compound annual growth rate (CAGR) of 3.8% over the next four years, reaching a market volume of $255.8 billion by 2028.
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Google announces Lumiere, an AI video generator
Google has recently introduced Lumiere, an AI video generator that is being praised as a "space-time diffusion model for realistic video generation." This advanced technology specializes in creating delightful videos featuring adorable scenarios, such as animals roller skating, driving cars, or playing the piano. 🐶
Lumiere's capabilities extend beyond just whimsical videos. It can perform various tasks like generating videos from text, transforming still images into dynamic videos, and producing videos with specific styles using reference images.
The article concludes by emphasizing the importance of developing tools to identify biases and prevent malicious uses of AI-generated visual content.
