There’s no denying that generative AI has dominated tech headlines lately. Microsoft incorporated the tech behind ChatGPT into Bing earlier this month. Google, not far behind, launched a similar generative AI feature called Bard. A whole slew of startups are focused on “productizing” generative AI models, and companies from Facebook to Snapchat are rushing to incorporate the tech into their platforms. Generative AI itself isn’t new, yet the current dynamics are enabling innovators to tap this tech for a seemingly endless array of everyday applications.
From enhanced customer service to more customized online searches, early adopters are experimenting with generative AI for a wide range of use cases — with varying levels of success. At Miko, we’re leveraging our in-house generative AI capabilities to transform how we, and other brands, think about growth marketing.
As a robotics company, we’ve invested heavily in building robust in-house AI capabilities. What does that mean for Miko? Unlike many brands, which are moving quickly to build generative AI teams, we already have a dedicated group of experts focused solely on this area. Our generative AI content tool was in-market as a proof of concept during the 2022 holiday season, and it’s already producing measurable results for our digital ad campaigns.
We’re using the generator to develop creatives — think, visual, audio and text — for Miko user targeting. This allows us to experiment with thousands of combinations of text, images, fonts, colors and objects in our ad creatives. Ad creative used to be limited to what copywriters and designers could churn out; that, in turn, severely limited testing and optimization. With generative AI, we can experiment at scale, find the combinations that increase the click-through rate (CTR) and, over time, reduce our customer acquisition cost (CAC). For instance, we at Miko experienced an impressive 50% uplift in CTRs and a significant 30% reduction in CAC, all thanks to the power of generative AI in optimising our marketing campaigns.
Now that we’ve validated our proof of concept, we’re exploring even more possibilities with generative AI. We’ll soon be able to pair custom creatives with specific audiences, geographies or age profiles. This opens the door to even more advanced targeting and, as a result, an optimized CAC. In a short span, our tool will create thousands of campaigns — allowing us to go far beyond what’s possible manually through the power of our proprietary generative AI technology.
As the tech world continues to explore generative AI, Miko has a distinct “early mover” advantage. We’re already using our in-house capabilities to generate campaign creative at scale and are continually refining our POC to optimize not just CTR, but CAC. And that’s just the tip of the iceberg: With each passing day, we’re using generative AI to deliver even more growth marketing value. Generative AI is the future of marketing, and Miko is leading the charge now.