Happy Monday y’all! I hope you have a wonderful week as we end October and begin November! Here’s some business stories that have caught my eye the last few days:
Interesting insights into the technologies that CMOs will be investing in to create a better brand experience for customers. Not surprisingly, AI is tops on the list, but that of course doesn’t mean it’s the best option. The technology is far from mature, but it has the hype and money is flowing into the space now, so that will drive improvement and innovation.
🤖 CMOs call on generative AI for a great brand experience
Read more: https://t.co/nuInoVMEZ5#CMO #marketing #AI pic.twitter.com/GHbfGE7QKe
— Insider Intelligence (@IntelInsider) October 27, 2023
Twitter is revamping it’s subscription tiers. Here’s a general outline of your options:
Basic – $3 a month. You can edit tweets and post longer ones. Small boost to replies, small reduction in ads. No blue checkmark, no ad revenue share.
Premium – $8 a month. Same as basic, plus you get a blue checkmark, fewer ads, more reply boost, and can participate in ad revenue share.
Premium+ – $16 a month. Same as Premium, plus bigger reply boost, and no ads.
No ads will be the key draw of the new $16 tier. I have serious doubts as to how well that tier will sell. I will say this: If Twitter still had the same experience in 2023 as it did in 2008-2010, I would totally pay $16 a month for it. Now, you would have to pay me far more than that a month to spend as much time on Twitter now as I did in 2008-2010.
Now, you can pay $3 per month for X Premium (with no blue tick) or $16 per month (no ads). Tap on the image below for more info: https://t.co/IE49kLfXqI
— Social Media Today (@socialmedia2day) October 28, 2023
AI will be coming to product review! 67% of consumers say they would be fine with using AI to write product reviews. My quick take is that giving consumers the ability to use AI in writing product reviews will result in more positive product reviews, not negative ones. People generally writing product reviews after having an amazing or horrible experience with a product. The people that have had a terrible experience with a product don’t need motivation to write a product review. They have a chip on their shoulder about their product experience and are ready to tell the world. And to a lesser degree, the customers that have had an amazing experience with a product typically want to tell others.
But what about those of us who have had a ‘pretty good’ or ‘not bad’ experience with a product? I think a lot of us have had these experiences, and I think we typically don’t share them. The motivation factor just isn’t there. I think offering AI assistance in writing the review will lower the difficulty, and encourage more reviews.
67% of consumers would be willing to use AI assistance when writing a product review. 45% would trust #AI generated answers about a product.https://t.co/vSwjpMMtvP #digitalexperience
— Kelly Hungerford (@KDHungerford) October 28, 2023
So that’s it for this week’s Monday’s Marketing Minute! There will be a new post up tomorrow (TBD) and on Thursday, November 1st, we will have the Technology Power List for November! I hope you have an amazing and productive week!
