AI isn’t the “silver bullet” for sales and marketing!

Writing this article about my predictions for 2024 evokes a strong sense of déjà vu. It reminds me of my time at Strategic Analytics, where I led a technology market intelligence service utilized by major technology companies globally. The reason for this reminiscence is apparent: next year, in sales and marketing, the focus will shift significantly towards technology and, more specifically, towards AI rather than process or activity.

AI's Impact on Productivity

In 2024, AI is set to revolutionize the sales and marketing sector, particularly with Microsoft's Copilot release. This tool is predicted to enhance productivity in a way that mirrors the impact of Microsoft Office in the 1980s. The scope and influence of Copilot and other AI technologies could be even more significant than these earlier innovations.

Enhanced Customer Insights

AI will likely play a key role in providing businesses with unprecedented customer insights. By aggregating data from various sources, AI is expected to unveil customer and business trends, marking a significant advancement akin to the leap from black and white to 10K resolution television.

AI's Broad Spectrum

?AI is a term that encompasses three distinct branches, each with unique capabilities. Understanding that not all AI is the same is crucial, and selecting the appropriate type for a specific task is essential. Recognizing the differences between AI types, such as Machine Learning-based AI and generative or autonomous AI, is critical to leveraging their potential effectively.

Business Planning and AI

While AI is anticipated to offer comprehensive business strategies, its ability to understand the nuanced details of individual business contexts may be limited. Skilled human oversight is necessary to validate and guide AI-generated outputs, highlighting the continued importance of human expertise in business planning.

My Sales and Marketing Predictions for 2024:

Dominant Influence of AI:

AI is expected to significantly influence sales and marketing strategies, focusing on cost-cutting and process optimization. However, its use should be judicious, as there may be better solutions or it's not a substitute in some scenarios.

Rise of AI Experts on LinkedIn:

Following previous trends, an increase in professionals branding themselves as AI sales and marketing experts on LinkedIn is likely. Please be aware of this when interacting with these professionals.

New Buzzwords and Concepts:

A new term or concept is expected to gain traction on LinkedIn, potentially exciting many but recognized by veterans as a rebranded old practice.

Innovative Business Models:

Introducing new business models, claimed to be revolutionary, might occur. Yet, there's a risk that these could be transient trends with more hype than substance.

Neglect of Fundamental Marketing:

There may be a continued tendency to undervalue foundational marketing strategies in favour of superficial tactics, potentially leading to limited business growth and scalability challenges.

Author

Andy’s experience spans four decades is the go-to strategic catalyst for B2B technology enterprises across various verticals—be it hardware, devices, networks, services, or SaaS. With a BA (Hons) in Marketing Engineering and the distinguished status of a Fellow of the Chartered Institute of Marketing (FCIM), Andy brings an unrivalled depth of expertise that is globally acknowledged. His journey has seen him occupy pivotal senior management and board roles in leading corporations, and most recently, he has made his strategic foray into sectors encompassing Architecture, Engineering, Construction, and Owners. Adept at aligning pivotal business strategies and tactical plans at critical junctures, Andy is the cornerstone of business success for the ventures he engages with.