The next tech revolution has commenced. Chat GPT is taking the world by storm and has the potential to transform how marketers target consumers. This could bring predictive marketing to a new level. Should we be scared?
Just two months after its release, Chat GPT boasted an unprecedented 100 million users. In comparison, it took TikTok over nine months to reach the same number of people. This AI-powered chatbot is a game-changer, capable of generating human-like responses at an unmatched speed. With 175 billion parameters, Chat GPT is one of the largest and most potent AI models available for language processing. But this is just the tip of the iceberg. Chat GPT has the potential to transform industries, revolutionise the way we are targeted and tap into our biggest health fears with the help of predictive marketing.
In the health industry, Chat GPT is set to empower companies to better understand their customers through predictive modelling and data analysis. By integrating it with existing data sets and analysing conversations between customers and chatbots, health marketers can gain valuable insights. These include customer behaviour, preferences, and potential health issues. This information can be used to create personalised marketing campaigns. With Chat GPT’s ability to predict future purchasing habits and customer needs, health marketers will have a powerful tool to drive sales and improve customer satisfaction.
How companies can target customers with the help of predictive marketing
But Chat GPT’s benefits go beyond just macro-level targeting. By analysing conversations, health marketers can identify individual customer needs and preferences. This allows them to personalise their approach and build trust with customers. For example, observing a customer’s online behaviour and interactions may identify whether they are at risk for high blood pressure. This customer can then be targeted with useful information that can lead to them buying products or services related to that illness. This approach is more likely to resonate with the customer, leading to higher engagement and better conversion rates.
Predictive marketing raises ethical concerns
However, the power of Chat GPT also raises ethical concerns. When combined with psychographic segmentation, it will enable marketers to divide customers into smaller groups based on shared psychological characteristics, such as values and beliefs, and understand them at a level previously thought impossible. But this could lead to unwanted ramifications, such as companies promoting products to solve health issues without informing customers about the actual disease they have. For example, if someone is experiencing headaches, Chat GPT may suggest a pain reliever as a solution, but the underlying cause could be something more serious, such as a brain tumour. Health marketers need to be careful to balance the benefits of personalised marketing with the potential ethical issues that arise from using Chat GPT to predict health issues.
If we can address these concerns, Chat GPT has the potential to transform industries and revolutionise the way we are targeted. Companies that embrace this technology and use predictive marketing responsibly will be at the forefront of the next tech revolution. The possibilities are endless, we just need to make sure we get it right.