AI will not fundamentally change your role as a Fractional CMO, despite what the masterminds and gurus are selling.
Are You Scared of AI?
This feels like January of 2020, when the pandemic was just starting to get some attention. I remember going to my gym in Fishtown, Philadelphia and talking with the owner about this “weird virus thing.” He didn’t think it was going to be a big deal. I thought there might be a lock-down until July 4. Obviously neither of us were right.
That’s where we are with AI.
There are some people freaking out about how everything is going to change.
And others who are utterly clueless.
I think academia is getting pretty worried about the implications of students writing theses and essays with a few prompts. Similar to the revolution Wikipedia brought about, but this time, much much more dramatic.
In marketing, there are the tacticians who are directly affected:
- Content writers: If you’ve ever used a resource like WriterAccess to get blogs or articles created, you might have paid $0.1 to $0.12 a word for the best-of-the-best writer (I’m talking about ex-Jeopardy contestants!). I have to imagine that those writers are at least having AI write the first draft of their articles, then just making some minor edits and collecting their fee.
- Copywriters: I’m seeing these folks really focus on harnessing AI. The take that I like is that copywriters will leverage AI to pull together creative ideas, cutting down the time to find The Big Idea. Tools like Jasper can help craft headlines, ad copy, email copy, and can absolutely support a copywriter. That said, I think the art of copywriting is safe from the robots, for now. There’s just so much consideration that is required in a good piece of copy that a simple Jasper prompt can’t repeatedly churn out.
- Marketing agencies: Writing boilerplate content for websites? Crafting a more readable About Us page? For the reduction of suffering across all humankind, let’s hope agencies are leveraging AI to help with this necessary evil.
Things are going to change.
But then again, the only constant in life is that everything changes.
If you’ve been in the business game for more than a couple years, you’ve seen other revolutionary advances.
Take, for example, crypto.
We saw all-time highs for bitcoin and ethereum prices in November 2021. If you were plugged into that world, you probably heard of the Decentralized Autonomous Organizations (DAOs) that were doing incredible, innovative work with smart contracts and their tokens.
Then the market saw a significant correction, wiping out over $700B in market capitalization over 6 months.
Some say that crypto is dead, but it’s clear the fundamental technology is here to stay. Development of the ethereum smart contract software Solidity began 7 years ago, and saw dramatic development over the bull run of crypto.
The high-times of token prices attracted some of the best developers in the world to work together on open source projects that moved the technology forward by leaps and bounds. That technology is slowly (and in some cases, rapidly) seeping into our day-to-day lives in the field of banking, regulatory compliance, insurance, supply chain management and more.
What I want you to get out of this comparison is that AI is right now at the “all time high” in the mainstream … and has a lot of room to grow in popularity. ChatGPT is being talked about on small-town country radio stations, in PTA meetings at high schools, at global summits of business leaders (just like bitcoin was). There’s worldwide attention on the technology… and that attention will wane at some point.
The implications of AI will seep into our day-to-day lives. We might notice it in tools like Notion with their release of Notion AI, and we may also not notice when a tool has AI baked into its core. Will anyone say “My car has AI!” in ten years? Or will they just appreciate that their car understands their requests better, and provides a more seamless experience?
The Great Search Engine AI Race is an example of noise related to AI. Yes, the way Google shows rankings may change… I’ve heard SEO folks talk about how Google might no longer show rich snippets and instead answer the query themselves with their AI engine. Maybe Bing with their partnership with OpenAI will somehow climb out of their sub-10% market share position to own, what? 15%? 20% of the market?
Does that matter? I guess. But it’s really not revolutionary for the consumer. We’ll experience a better experience, but then will quickly adapt to it.
AI is about to become ubiquitous; part of our day-to-day lives in a way that (should) make us feel as though it’s not even there. Saying something is “powered by AI” will start to feel like a high school entrepreneurial pitch event where all the students claim their project uses an “algorithm.”
So what’s a Fractional CMO to do about it?
The same thing we did when TikTok came out. Which is the same thing we did when Clubhouse was all the rage on Twitter. We do the same thing we did when Leadpages and then Clickfunnels made building funnels and sales pages easier…
We roll these new tools into our strategy for our clients and execute them at the right time.
That’s it. That’s your job.
Fractional CMOs Solve Bigger Problems. That should be your mantra as you build your Fractional CMO practice. The bigger the problem, the bigger the reward – for your client, for their customers, and for you and your bank account.
What Companies Need from Their CMO in the New Era of AI
Nervous or scattered CEOs might ask you to put all your attention on AI, and for most businesses, that is simply not a good use of your time.
Instead, there’s one word that accurately describes what companies need… and that word is leadership.
The fractional CMO, the interim CMO, and the full-time CMO all have the same basic requirement: To be the leader for their marketing department and to push the team to make the dreams of the CEO and/or the board of directors come true.
AI becomes a tool in your toolbelt. It is also a tool in your client’s competitor’s toolbelt.
A few years ago, I was working as a Fractional CMO for a private equity company and I remember sharing my concerns about the increased CPM on Facebook over a few week stretch. HIs reply was timeless:
“It affects us and our competition the same. Don’t lose sleep over it. Keep fighting.”
What simple, golden advice.
The same is true with AI.
AI content writers mixed with lifelike voice generators, overlaid on a slideshow of images produced by DALL-E seems like a scary and innovative tactic… and it might be. But it’s just a tactic.
And it’s your job to decide if it’s the right tactic or not.
It’s your job to chart the best path, no matter the tools and tactics that emerge.
Oftentimes, the number one thing a business needs is end-to-end tracking of lead source to purchase. Or simply just having a rock-solid offer. Or focusing on one advertising channel to 10x sales of their hero product. Or a salesperson who will call all the webinar attendees who stayed for the whole 60-minute webinar but didn’t purchase.
For most companies, AI is simply another tactic that seems exciting and revolutionary, but in reality, it’s a level-5 tool and the company is stuck at level 1.
Business basics like tracking, generating advertising controls, creating product ascension to maximize customer lifetime value, collecting and sharing testimonials, and delivering a world-class customer experience will last until the end of time. AI is here to stay and yes, it changes everything, but it’s not the panacea to profitability that some marketers want it to be.
Stay focused. Stay in your lane. Bring in more sales. Look for low-hanging fruit that you can use AI on. Test your favorite copywriter’s work against a rewrite by AI and see who wins.
Be open to swinging the AI hammer, but treat it like a tool.
Keep fighting.
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Frequently Asked Questions
What are the rewards of being an entrepreneur?
Entrepreneurship offers many benefits. First, you are more self-reliant. You stop relying solely on other people.
You can be independent and pursue your dreams. Because you have similar interests and challenges, it helps you to build relationships with other entrepreneurs.
You gain confidence. Entrepreneurs learn constantly. This gives you the ability to adapt quickly and be flexible. By thinking outside the box, you will not be trapped in a rut.
We are no longer bound to the regulations and rules that society places on us when we start our own businesses. We are free to choose what we do and how we live.
We can choose either to follow the crowds or go against them. We have the option to choose success or failure. You have the choice to fail or win.
It is exhilarating. It comes with a fair amount of responsibility. This is because you are accountable for everything happening within your company once you have taken on this role.
So if you want to succeed, you must learn to manage risk. Don't be afraid to try new things. If you are willing and able to learn from your failures, you will eventually reach your goals.
So, keep these lessons in mind when starting your journey.
Remember:
- Entrepreneurship can be a way to live your life.
- If you manage your own business, you are the boss.
- Be careful of following fashion trends.
- Not success is measured in money, but in freedom.
- You need to balance your personal life with your professional life.
- Set clear expectations.
- Always be truthful with your team.
- You must do something if you want to see something happen.
How to motivate yourself as an entrepreneurial leader?
The best way to motivate yourself is to find someone else who is motivated to do what you are trying to do. Find someone who is working hard towards his goals and ask him how he did it.
Ask for advice, listen and learn, but most importantly, be sure to follow the advice. If you find someone who is successful, emulate them.
Do what it takes to be that person. Learn from them. Take their notes. Follow their example.
Keep moving forward. Keep moving. Never stop learning. Never give up.
Don't listen to anyone who tells you you are incapable. You don't have to believe that there is no way.
Even though you may fail, that doesn't make it any less valuable. Failure is an opportunity to grow stronger. To learn more. To push harder.
Failure is just another step along the road to success.
Let's get started! Do something today that will help you get closer to your dream.
What are you waiting to do?
What is your biggest motivation in life and why?
What is my favorite motivation in life? Let me tell, you. It is the best motivator in my life to make people feel better. To make them feel amazing because they are. They are worthy and deserving of love.
They deserve happiness because they are.
To remind you, there is nothing more important that feeling good about yourself. Nothing. And I'm determined to make the world a better place.
We feel better about ourselves and are more compassionate towards others when we feel that way. We stop judging each other based on superficiality and instead start seeing the person inside, which is really cool.
Motivating someone by showing them they have everything within themselves is the most effective way to get them to do so.
It may be something they didn't realize, but it's why they've been struggling for so long with something. Because deep down inside they knew they had the power to heal themselves.
They only needed the right environment and support system. But somehow they lost sight of that.
It's not hard to see why they lost it. Because they were too focused on figuring out the source of the problem. They were too busy trying to fix the problem, when they realized that they had all of the tools needed to solve it.
But they forgot that the true reason they couldn't solve the problem was because they didn’t know what the answer was.
I'm here to remind that you have the power and ability to create a whole new world. All you have do is tap into your inner genius.
And once you do that, everything will fall into place. It will be a joy to realize your dreams.
I believe every human being is endowed with their own superpower.
We only need to learn how it works.
What are the six most important questions entrepreneurs should ask?
Motivation is the main ingredient of any business. Motivation is essential for any business. Without it, it's difficult to get out of bed every day. If you lack motivation, it will be difficult to complete your projects. You won't be able to achieve your goals if you don't have motivation. How can we find our motivation?
You may wonder, "What motivates my mind?" You might be surprised at the answer. Perhaps you have been asking this question for years. You're missing one of the greatest rewards in life, the chance to find your motivation.
Nothing is more motivating than knowing why you exist. You will then realize what drives yourself. This is when your purpose becomes clearer, more meaningful. What makes you care? This will help you stay motivated.
To find your motivation, you must look within. These questions will help you find your motivation.
- What are you passionate about?
- What makes my heart beat so fast?
- What is it that lights me up?
- What gives you butterflies in your stomach?
- What makes me feel alive and connected?
- What draws you back to your project time and again?
Once you know your answers, you'll be able to identify your true motivations.
You can find your motivation to get through tough times. It will help you find the strength you need. It will help you work harder. It will push you to achieve success.
And if that's you, you won't stop looking for your motivation.
You might be surprised at what you find. You might be pleasantly surprised at what you uncover.
What are the different motivations for entrepreneurs?
Entrepreneurs can choose from three types of motivation. Each type has their own strengths and weaknesses.
Motivation that is not internal, such as the desire to earn more money, is the most common type. This motivation is usually triggered by financial concerns.
Motivation is externally driven by personal ambition, desire, and interest. This type of motivation is very goal-oriented.
It is rare to find internal motivation. People who have internal motivation don't seek wealth. Instead they pursue other goals such self-development, fulfillment, and service.
People with internal motivation are frequently called "passionate" since they find satisfaction from their work.
Finally, intrinsic motivation can be described as the least common form of motivation. Intrinsic motivation refers only to people who are motivated by the satisfaction and enjoyment that comes from working towards a particular goal.
Motivation from within is stronger than external motivation.
It comes from the inside. It is based on the belief that people have certain talents and abilities. They have the ability to do things no one else can.
It is satisfying and fulfilling to realize our potential and talents. We feel like we're doing important work.
In other words, intrinsic motivation is what makes us happy. Knowing that we can achieve anything we set our minds too is what makes us happy.
This feeling of accomplishment keeps us going, even when it is difficult.
If you don't like what you do, why bother?
If you want to know more about entrepreneur motivation, click here.
What motivates entrepreneurs?
Passion drives us. But, we have an inborn desire to create something meaningful and make a difference. To make a significant difference in our lives and the lives of those we love.
To give back. To help others. To leave behind a legacy.
Most importantly, though, we do it because we enjoy doing it. Because we feel compelled by God to live our lives fully and succeed in things that matter.
We are driven to fulfill a sense purpose and mission. This cannot be accomplished by money alone.
This is where the key lies in combining business with pleasure. Entrepreneurship is more than a job. It is a way of life.
Because of this, I am passionate about helping entrepreneurs succeed. My goal in helping entrepreneurs achieve financial freedom and make a lasting difference in the world is my goal.
I am living proof that creating value is better than anything. It's sharing your knowledge with the rest.
It is not enough to create a great product. You must first understand what drives your customers, and what they need. What they're looking for.
You'll always be able to improve your offerings if you do. And therefore, you'll always provide more value.
You will attract more customers if your products and services are more valuable. Customers will buy more of your products and services, so you'll have more customers. Selling more products and services will result in more revenue. Plus, if your revenue is higher, you will eventually be financially self-sufficient.
Money is not everything. It's the end in itself. Not the end in itself.
So, if you truly want to live a rich life, you cannot focus only on money. You must also focus on making a positive impact. Contributing. Leave a legacy. Create something unique. You create something unique. It will add meaning to your life as well as the lives of others.
Entrepreneurship requires risk-taking. It doesn't necessarily mean that you have to follow certain rules. It means being flexible. Adapting. Adjusting. Improving.
You won't fail if you are true to yourself, your values and your integrity.
Entrepreneurship can be a calling. A vocation. An opportunity to contribute. To create wealth. To influence history.
You will be your best self when you embrace all these aspects.
You will be unstoppable.
Statistics
- According to analysts, Johnson has high appeal in all four quadrants tracked at the multiplex: male, female, over-25 and under-25. (forbes.com)
- “Life is 10% what happens to you and 90% how you react to it.” (oberlo.com)
- I shifted my motivational point from something huge (and undefined) to improve by just 1% each day. (carolroth.com)
- “If you look to lead, invest at least 40% of your time managing yourself – your ethics, character, principles, purpose, motivation, and conduct. (americanexpress.com)
- That means for $150,000, you could have bought 10 percent of Airbnb." (entrepreneur.com)
External Links
entrepreneur.com
kabbage.com
due.com
twitter.com
How To
These are 10 ways you can motivate your employees
Motivating employees is one the most difficult tasks you will ever face. It takes patience, perseverance and sacrifice. You must understand how to motivate people and make them want to work hard.
You won't be able motivate someone if you don't understand what motivates them. If you don't know why someone wants to do something, you won't be able to help them. This article will show you how to motivate your employee through different methods.
1. Make Them Feel Important -One of the best ways to motivate your employees is to let them feel they matter. When you give them this feeling, you tell them they are special and valuable. They should be able to believe that their efforts are being recognized and appreciated.
2. Recognize them - People like to be acknowledged. The more recognition they receive, the happier they will be. If you want to motivate employees, make sure you give them recognition from time to time.
3. Respect Others - It is an essential component of any relationship. Respecting your partner is key to motivating them. Respecting others will show them that they are important too.
4. Open Communication with Your Employees - Openness is a great way for people to feel motivated. You encourage employees to share information and encourage them learning new things. And when they learn new things, they feel happy and proud.
5. Reward for Good Work - You encourage people to work harder when you reward them for their good work. However, it is important to verify that they did a good work before you reward them.
6. Clear Goals - Giving employees something to aim at will help motivate them. Giving them a goal also makes them better workers.
7. Tell them what's happening - You might think that telling employees the details of your company's plans is a waste of time. It can motivate them, however. The company's plans will help them determine what their next focus should be.
8. Give feedback - Feedback is an excellent way to improve employee morale. It's time-consuming, but it is worth it.
9. You can motivate your employees by letting them know the name of their boss. Make sure your employees are aware of who their boss is so they know where to go for help.
10. Asking for help is one more way to motivate your staff. Asking them for help lets them know they can count on you. They will feel that you care about them and that they can trust you.
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https://consumernewsnetwork.com/technology-news/ecommerce-data-benchmark-report-2023
