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Monday’s Marketing Minute: ChatGPT Launches Store, Google Faces Layoffs, Political Ad Spending Soars

Happy Monday, y’all, and a Happy Belated New Year as this the first edition of Monday’s Marketing Minute for 2024.  I hope you have a wonderful week, and be safe to all of you that are dealing with the big snowstorm that’s slowly marching across the country.  Here’s a few business stories that caught my eye over the last few days:

ChatGPT has officially launched a store for custom GPTs. The store will feature custom versions of ChatGPT build around a specific use or set of parameters. For instance, maybe you want one that adopts the persona of a world-class fitness expert, or botanist. Whereas ChatGPT is more general and requires you to engage in ‘prompt engineering’ to get more relevant answers, a lot of that heavy lifting has already been done with the custom GPTs that will be available in the store. Its a great idea to extend the functionality of ChatGPT, and it will drive more sales as you have to be on the paid version of ChatGPT to buy from the store.

 

Google recently announced another round of layoffs from multiple departments as it wants to pivot more resources into its AI offerings. The initial round of layoffs is around 1,000, but some analysts believe that figure could soon balloon to over 30,000.  Twitch and Discord have also had layoffs in addition to previous ones at Meta. So as AI becomes more integrated at the enterprise level in 2024, we could see more layoffs and restructuring at companies across the board

 

And finally, here’s news no one wanted to hear: Political ad spending is expected to jump by 33% in 2024 over 2020 levels. This makes sense as there’s a more crowded field of candidates this time, especially on the Republican side, along with potentially one viable independent candidate in Robert F Kennedy Jr. My sympathy in advance for any of you in a swing state, I can only imagine how bad the robocalls will get.

 

So that’s it for this edition of Monday’s Marketing Minute.  I hope you have a blessed and productive week!

BTW if you are on LinkedIn, please connect with me there. I will be spending a lot more time on LinkedIn in 2024, and likely a lot less on Twitter. So LinkedIn and this blog will be the two main ways to keep up with me on a daily basis moving forward. I hope to see you there, have a great week!

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About Mack Collier

My name is Mack Collier and I am a digital marketing and content strategist located in Alabama. Since 2006 I've helped companies of all sizes from startups to global brands such as Adobe, Dell and Ingersoll-Rand, create customer-centric programs, content and experiences. A long-time internet geek, I've been online since 1988 and began using social networking sites in 1991 when I joined Prodigy. Today, I help companies understand how new technologies like web3, crypto and artificial intelligence can integrate with existing marketing strategies to lead to exceptional customer experiences.