🚀 Future-proof your business: A glimpse into 2024 and beyond
🚀 Future-proof your business: A glimpse into 2024 and beyond
Plus: New research reveals marketers must put aside their AI hesitations — or risk being left behind
There’s no time like the present to adopt a growth mindset for your business.
Let’s fearlessly look ahead to 2024 and beyond.
Today’s agenda:
🧗 Looking to scale? Here’s how
🤖 It’s time to start experimenting with GenAI
💸 Marketing tips for tight budgets
💼 Briefly — our quick news roundup
⏱️ Up & coming
🚗 The shift to long-term planning
It’s easy to get lost in the day-to-day as an entrepreneur, but according to Fred Royall of JP Morgan Chase, three to five years into your business is the time to look at scaling.
🪴 What you need to know
Keep your business moving ahead by asking yourself how you plan to grow (medium term) and how your industry is evolving (long term)
Put a plan in place to address your future capital needs and how you intend to secure it
Reflect on your own role within your business, and the types of experts you need on your team
Royall highlights the importance of surrounding yourself with a team of professionals you can rely on for advice and support, including coaches, advisors, attorneys, and finance experts — particularly those in your industry or adjacent.
👟 The trick is to seek out experts who have been in your shoes.
🤖 It’s time to embrace AI
Analytics expert Jeremy Korst and marketing professor Stefano Puntoni surveyed over 600 marketing & sales leaders from large U.S.-based companies.
The authors found that marketing leaders have been reluctant to embrace AI, and “lag behind their peers” in other fields.
🔑 Key insights from the survey
AI is “poised to transform” marketing jobs, and many marketing roles rank within the top 20% of jobs that are predicted to be affected most by new AI models
Despite all the data supporting AI’s impact in the marketing world, leaders have seemingly taken an overly cautious approach to AI
Only 21% of leaders claim to have “substantial knowledge,” which puts them behind leaders in HR, engineering, IT, and other industries
Marketing/sales leaders have the lowest usage percentage (35%) of genAI for work-related tasks
Top AI concerns from marketing & sales leaders included accuracy, employee resistance, and ethical considerations.
🏃 Next moves
The authors recommend that to overcome the hesitation, marketing & sales leaders must invest in training to understand its abilities and limitations, experiment with the tools, and work to keep customer data as safe as possible.
🤔 Do you have an AI strategy in place for your business? What could this look like?
💵 Low budget? No problem
If you don’t have a lot of marketing resources, Dréa Hudson of HubSpot calls this period a “lesson in prioritizing time, resources, energy, and budget.”
💳 Tight-budget tips
Make sure you’re targeting the right audience using platforms like Google AdWords or Facebook Ads
Use social media and email marketing
Aim for free news coverage by creating press releases
Ask previous clients for reviews/testimonials
Host virtual events
The key is to create high-value content pieces that you can repurpose.
That’s also the value of a virtual event — you’ll be left with tons of content for months to come.
Briefly
🤖 Former OpenAI CEO Sam Altman joins Microsoft’s team after OpenAI board fires him
🗣️ The Verge recently called out SEO for “ruining the internet.” Here is a response from Search Engine Land
🍗 Check out these Thanksgiving content marketing examples to entertain and inspire
🛍️ Black Friday discounts came early this year: Read how this could affect the holiday spending season
🎤 The Captions app can make your video marketing easier — it’s a teleprompter, script-writing assistant, editor, and more
📅 Follow these steps to create a social media content calendar
🔎 New Yahoo Search is expected to launch in early 2024
Up & Coming
The jury is out on whether there will be more rate hikes, but many economists believe last month’s positive inflation news means the Federal Reserve will stop increasing rates — which is good news for the stock market and your 401(k).