How Marketers Should Plan for AI with Raj Venkatesan

Published: Dec. 13, 2021, 11 a.m.

b'Raj Venkatesan is co-author of the new book\\xa0The AI Marketing Canvas\\xa0and\\xa0a professor of marketing at the University of Virginia. This week he joined me on the On Brand podcast for a timely discussion about artificial intelligence and marketing\\u2014how should we be thinking about it and what should we be planning for the new year ahead.\\nAbout Raj Venkatesan\\nRajkumar Venkatesan\\xa0is the co-author of\\xa0The AI Marketing Canvas: A Five-Stage Road Map to Implementing Artificial Intelligence in Marketing. He is the Ronald Trzcinski Professor of Business Administration in the Darden Graduate School of Business Administration at the University of Virginia. His writing has appeared in the Journal of Marketing and Harvard Business Review, among others, and he is the co-author of\\xa0Marketing Analytics\\xa0(2021). For more information, please visit the\\xa0book\\u2019s website.\\nEpisode Highlights & Takeaways\\n\\u201cAI is something that\\u2019s going to help marketers,\\u201d\\xa0Raj began, noting that many worry about AI being something new and different. \\u201cIf you\\u2019re in marketing, you do what you do best. Provide excellent and superior customer service. And what AI does is allow you to scale this customer service and personalize it.\\u201d\\nWhere should marketers get started with AI?\\xa0\\u201cStart with first-party customer data\\u2014you have to have a strong data foundation. From here, you look for value pockets where AI can help you scale.\\u201d\\nA good reminder/warning about your data:\\xa0\\u201cYou will never have perfect data. And if you wait for it, it will be too late\\u2014your competition will beat you there.\\u201d\\nWhat brand has made Raj smile recently?\\xa0Raj began by claiming that I made him smile.\\xa0Host flattery?\\xa0I\\u2019m here for it. Raj followed up with his real brand smile\\u2014Ford. Recently, the automaker announced that they\\u2019ve stopped taking orders for the new electric Ford F-150. This made Raj smile as it\\u2019s a good sign that we\\u2019re moving away from fossil fuels.\\nTo learn more about Raj Venkatesan,\\xa0check out his book at\\xa0The AI Marketing Canvas\\xa0book website, his\\xa0Coursera courses, and his\\xa0University of Virginia webpage.\\nAs We Wrap \\u2026\\n\\n\\nListen and subscribe\\xa0at\\xa0Apple Podcasts,\\xa0Spotify,\\xa0Amazon/Audible,\\xa0Google Play,\\xa0Stitcher,\\xa0TuneIn, and\\xa0RSS.\\n\\n\\nRate and review the show\\u2014If you like what you\\u2019re hearing, be sure to head over to\\xa0Apple Podcasts\\xa0and click the 5-star button to rate the show. And, if you have a few extra seconds, write a couple of sentences and submit a review to help others find the show. (Need a quick tutorial on leaving a rating/review?\\xa0Check this out.)\\n\\n\\nDid you hear something you liked on this episode or another?\\xa0Do you have a question you\\u2019d like our guests to answer? Let me know on Twitter using the hashtag #OnBrandPodcast and you may just hear your thoughts here on the show.\\n\\n\\nOn Brand is a part of the\\xa0Marketing Podcast Network.\\n\\n\\n\\nUntil next week, I\\u2019ll see you on the Internet!\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'