Global Digital Marketing & Retail by Alex 36
Inspiration from across the world for retail enthusiasts, e-commerce professionals, marketing lovers and technology fans. Welcome back! I summarized some great links again, I stumbled upon this week.
Welcome to a new edition of the newsletter! A summary of links I visited this week during my online journeys and that I think are worth sharing, this week many of the links are related to AI.
Thank you for reading!
🔍Perplexity: I use it more and more often as a Google alternative
I have been using Perplexity AI now for a while as a Google alternative, and I am very bullish on it. You can ask any question in Perplexity, and it summarizes answers from various sources, and it also displays those sources. If the answers are not exactly what you wanted, you can simply follow up and ask more questions on that topic as a conversation.
Also, it is possible to create “collections” so basically you save your search threads.
There are focus buttons, so you can just easily search “Reddit” or search academic paper references to any topic.
Perplexity for now has no ads. Although I like ads and I do understand they are needed, Google has gone too far with them.
The free version of Perplexity is very complete, and I would encourage everyone to use perplexity for a while. For power users, the pro version even integrates other AI models, like ChatGPT or Gemini.
🖱️Advertisement adjustment checklist
It makes sense, but sometimes it comes in handy to have these kinds of overviews so you quickly can adapt your CTR, Add to Cart to Purchase or Hook ratio.
Via: https://twitter.com/Badalpandey_/status/1783096295462404286?t=dX0qZsfAzc0cKb2BFBMOeQ&s=03
💵Dollar Driven Discovery Interview script
George, from Product Management world, was so kind to summarize the “Dollar Driven Discovery Interview script” as it was explained in Lenny’s podcast recently.
So this script is based on the PMF framework (Product Market Fit) This framework was popularized by First Round Capital, a venture capital firm that focuses on early-stage startups. The PMF Framework helps companies determine whether their product truly meets market demands and has the potential for sustainable growth.
Dollar-driven discovery starts by pinpointing what customers truly value, either through their feedback or clear interest. It then assesses their financial capacity by examining budgets and decision-making within their organizations. The method gauges how much customers are willing to spend by having them specify their budget and comparing it to competitor prices. By asking questions like, "What is a fair price you would pay?" the process accurately captures customer perceptions about pricing. This approach ensures a focus on financially viable product features.
I think it is very valuable and worth a share.
George’s Product Management World: https://www.prodmgmt.world/
And a snip of the interview on this topic with
https://share.snipd.com/snip/31095c83-bf3b-409d-809b-5ce209bc1d02📦Amazon CEO Highlights AI’s Role in Consumer Strategy and Ad Growth
This interview underscores the importance of AI in shaping business strategies at Amazon, particularly how it leverages AI to enhance consumer relations and drive revenue growth through innovative advertising strategies. AI is central to Amazon's strategy, not only improving efficiency and cutting costs, but also shaping how consumers and businesses interact with Amazon's platforms.
Advertising on Amazon is not about making ads look like ads. Still, rather, it is about developing smooth shopping experiences for consumers, and ads often look natural and quite similar to search results.
It is an approach that enhances the consumer experience and assists brands in positioning their products perfectly in front of or within the time frame where the targeted audience is to reach in the buying process.
Amazon has transcended the realm of marketing services from only promoting physical objects to streaming. It’s amazing how Amazon introduced sponsored TV and advertisements throughout Prime Movies and shows. These new ad strategies signify the latest era in Amazon’s marketing rails.
https://www.cryptopolitan.com/amazon-ceo-highlights-ais-role-in-consumer-strategy-and-ad-growth/
📱AI phone calls: now that’s how you advertise
Things are moving fast. Before you know it, your inbound agent (at least first-line communication for starters) will be something like this, and you will not even know it.
📹YouTube launches shopping features (yes, more ads)
More, more, more and more ads on YouTube.
YouTube has rolled out new in-stream shopping features aimed at enhancing product visibility and boosting sales. These tools open up fresh revenue streams for the platform and offer monetization opportunities for content creators. With the introduction of Shopping Collections, creators can now select and showcase products, promoting them to generate increased income.
Collections will appear in a creator’s product list, Store tab, and video description. At launch, creators can make Collections on the Studio app on their phone, with the feature coming soon to desktop.
In 2023, people watched over 30 billion hours of shopping-related videos on YouTube, and there was a 25% increase in watch time for videos that help people shop on YouTube!
https://blog.youtube/news-and-events/new-youtube-shopping-features/
🤖Overcoming Hallucinations with the Trustworthy Language Model
A new tool created by Cleanlab, an AI startup spun out of a quantum computing lab at MIT, is designed to give high-stakes users a clearer sense of how trustworthy these models really are. Called the Trustworthy Language Model, it gives any output generated by a large language model a score between 0 and 1, according to its reliability. This lets people choose which responses to trust and which to throw out. In other words: a BS-o-meter for chatbots.
I think a very valuable service, see this output from ChatGPT, although partly correct, not completely, as I do not work at Microsoft.
Check it out, the service is free to try:
https://cleanlab.ai/blog/trustworthy-language-model/
⏪Reverse your thinking to go beyond customer satisfaction
Let’s end this newsletter with a picture from a book I read a while ago, but still very relevant. “Reverse Thinking”: Go beyond customer satisfaction.
A framework that explains why thinking the other way around can be good for your brand and customers.
Details: https://startreverse.com/book/
That’s it for this edition, thank you for reading,
Alex