Does Your Business Need a CRO Agency? What They Offer & How to Choose the Right One

Your business’s success hinges on your website’s ability to drive conversions. Think of it this way: you might have soaring traffic, but if your visitors aren’t clicking that purchase or sign-up button, you’re essentially pouring water into a leaky bucket. This is the importance of conversion rate optimization (CRO).

However, less than half of companies have a CRO strategy in place. Chances are, you don’t have one, either. To combat this, work with a professional CRO agency. They are experts in using user behavior to fine-tune every element of your online presence.

The result? More leads, more sales, and a higher return on your marketing investment.

In this guide, we’ll break down what CRO agencies are, the services they offer, and the impact they bring to your business. Along the way, we’ll share some tips on how you can partner with the right CRO agency. 

Let’s dive in! 

Table of Contents

• What is a conversion rate optimization (CRO) agency?
• Core conversion rate optimization services offered  
• Why hire a CRO agency?
• How to choose the right CRO agency
• Common misconceptions about CRO agencies  
• Top signs you need a CRO agency
• Wrapping up
• Bonus Tip: Questions to ask a CRO agency before hiring
• FAQs

What is a conversion rate optimization (CRO) agency?

Conversion rate optimization (CRO) agencies are service providers who specialize in helping businesses improve their websites or landing pages to encourage visitors to take specific actions. These actions include buying a product, signing up for a service, or completing a form.

CRO agencies focus on three key areas:

• Website performance. CRO experts analyze data to ensure your website is running smoothly and effectively. This could involve optimizing page load times, fixing broken links, or ensuring the site is mobile-friendly.
  
• User experience. A CRO agency prioritizes making your website easy and enjoyable to use. They design solutions that make it effortless for visitors to navigate your site and take the actions you want them to take.
  
• Return on investment (ROI). By focusing on increasing conversions, CRO agencies ensure that the traffic you’re already getting delivers better results. This saves you money on additional marketing while growing your revenue.

CRO agencies vs. digital marketing firms

So, how are CRO agencies different from digital marketing firms? 

Digital marketing agencies focus on driving more traffic to your site through methods like social media advertising, SEO, and email campaigns. Their primary goal is to attract visitors and grow awareness.

CRO agencies, on the other hand, aim to make the most of the visitors you already have. They analyze behavior, test changes, and implement strategies to ensure your website is converting at its highest potential.

Core conversion rate optimization services offered  

SEO Service Agency

When partnering with a CRO agency, you gain access to specialized services designed to get you one step closer to higher conversions and increased revenue. Here are the CRO services agencies typically bring to the table:

Website audit and data analysis

The first step to better conversion rates is to understand what’s working and what’s not. For this step, CRO agencies perform website audits and data analysis, typically using Google Analytics and heatmaps.

Google Analytics gives them hard data. This includes:

• Pages visitors spend the most time on
• Where they drop off
• Which traffic sources bring in the high-quality leads

Heatmaps, on the other hand, visualize where users click, scroll, or hover. 

Through these tools, they can identify pain points in the user journey.

For example, Google Analytics can show that your product pages have high traffic but very few conversions. A heatmap might reveal that users are consistently hovering over the product images but ignoring the “Add to Cart” button. 

A/B testing and user experience design

Once the agency knows what’s holding your website back, they will start A/B testing. This is the art and science of trying out two or more versions of a webpage or feature to see which performs better.

Let’s say your lead generation website’s homepage has a banner asking visitors to “Contact Us Today.” The agency will test out a few variations. One might say “Get Your Free Consultation,” while another has “Limited Spots Available: Act Now.” 

Then, they will split your traffic between the original and these modified versions so they can see which headline leads to more conversions.

Besides text, A/B testing also involves design elements like layout, color schemes, and the placement of call-to-action (CTA) buttons. It can even involve content. Small tweaks to these can have big results. 

For example, Groove, the helpdesk software, brought in lots of traffic, but conversions were stuck at 2.3%. They discovered that their website’s messaging wasn’t connecting with users effectively. Here’s the original landing page:

Omniconvert

So, they tested adding a video testimonial to the homepage. The video featured a customer sharing how Groove’s helpdesk software boosted their business. Here’s the modified version:

Omniconvert

The results? Conversions jumped to 4.3%. 

Heatmap tracking and behavioral analysis

As mentioned above, heatmap tracking is a powerful tool that visually represents how users interact with your site. It lets CRO agencies see which parts of your site are engaging users and which ones aren’t. For instance:

• Click Maps: Show where visitors are clicking. If users are trying to click on something that isn’t a button, that’s a missed opportunity.
• Scroll Maps: Highlight how far down the page users scroll. If key information or calls-to-action are placed too low and go unnoticed, you know what to fix.

MonetizePros

These tools go beyond surface-level data. They help agencies identify drop-off points in the customer journey, such as users abandoning carts at checkout. They also identify elements that distract users from your goal, such as overly busy visuals. Lastly, they can uncover unexpected trends, such as mobile users struggling with a poorly optimized menu.

Content and landing page optimization

CRO agencies can also fine-tune your website’s content and overall design, ensuring they encourage your audience to take action. Agencies focus on:

• Messaging: Crafting headlines and copy that speak directly to your audience’s needs. Visuals: Select images or videos that connect emotionally or demonstrate your product’s value. 
• Navigation: Simplifying menus and removing unnecessary steps so users can easily find what they need. For instance, if users struggle to locate a pricing page, CRO experts may add a prominent “Pricing” button to the header.

This makes it easy for users to proceed to the next step–signing up, purchasing, or subscribing.

Performance tracking and reporting

Performance tracking and reporting are also a critical component of an effective CRO strategy. 

Agencies use analytics to gather data from all touchpoints, ensuring no crucial metric goes unnoticed. Through this data, they can quickly detect and address any anomalies or drops in performance. These insights are then fed back into the optimization process, allowing for continual adjustments and refinements to strategies and experiments.

CRO agencies will then present their data in tailored reports, highlighting KPIs according to your business goals. These reports offer clear recommendations for next steps, enabling data-driven decision-making.

Why hire a CRO agency?

So, why exactly should you hire a CRO agency? Because potential customers are slipping through your fingers, and you might not even know why. If your website isn’t turning visitors into buyers or leads, it’s not working as hard as it could be. Here are two reasons why CRO agencies are worth every dollar:

Specialized expertise

CRO combines psychology, data analysis, and creative problem-solving. This mix isn’t something your in-house team or a generalist agency can master overnight.  

CRO agencies are specialists who’ve run hundreds, if not thousands, of experiments across industries. They know exactly how to tweak your site to convert more visitors into paying customers or loyal subscribers. 

Moreover, they have tools most businesses don’t have access to—or don’t know how to use. This means they’re not relying on guesswork and are instead using hard data to back their decisions.

Aside from that, they also bring in fresh perspectives. Sometimes, being too close to your own business makes it hard to see what’s wrong. CRO agencies lack this bias and can easily spot opportunities you never considered.

Efficiency and ROI

Your time is valuable. Money, even more so. 

Partnering with the right CRO agency makes sure neither goes to waste.  Instead of spending months trying to figure out your site’s problem, they can identify and fix the bottlenecks quickly. They’ve seen these problems before and know exactly how to address them.

As mentioned earlier, they also maximize your existing traffic’s value. This saves you resources and allows you to place them on other aspects of your operations. Plus, their strategies are scalable so their solutions grow alongside your business.

CRO agency success story

Still not convinced about the value a CRO agency can bring? Here’s a real-world example of a company benefiting from a partnership with a CRO agency.

Wise, a web development company, had challenges in generating leads and improving conversion rates despite heavy investments in Google and LinkedIn ads. They engaged Invesp through a client’s recommendation, and identified 3 key challenges:

• Decreasing cost per lead (CPL) across channels.
• Increasing marketing-qualified and sales-qualified leads.
• Establishing a structured approach to CRO.

Following their optimization process, they transformed Wise’s lead generation funnel through the following steps: 

• Identified 100+ issues through a conversion audit.
• Optimized landing pages with A/B tests.
• Improved lead tracking with marketing automation.
• Enhanced lead quality via paid social media campaign management.

This partnership resulted in a 45% increase in marketing-qualified leads, a significant drop in cost per lead, and renewed success with LinkedIn advertising. Invesp not only solved Wise’s immediate challenges but also set them up for sustained success.

How to choose the right CRO agency

Partnering with a CRO agency isn’t something to rush into, especially since the right agency can mean a significant boost to your bottom line. While it might be tempting to simply go for the biggest name or the flashiest pitch, focus on these key criteria to ensure the agency you choose is the right fit for your business:

Evaluate experience and portfolio

Conversion optimization is a nuanced field where experience matters a lot. The best agencies don’t just bring technical knowledge, but also deep industry insights. 

Choose an agency that understands the unique challenges and opportunities in your sector. If they’ve worked with businesses like yours, they’re more likely to understand your audience, market dynamics, and pain points.

Check client reviews and testimonials

An agency’s reputation among its clients can reveal a lot about how it operates. Look beyond superficial praise and dig into the specifics. Pay attention to common in client reviews. 

Do past clients highlight their strategic insights, responsiveness, or ability to deliver results on time? Or are there consistent complaints about vague communication, missed deadlines, or lack of follow-through?

While testimonials on an agency’s website are helpful, seek reviews from third-party platforms. These tend to be less curated and often more honest. And don’t hesitate to request references. Speaking to past clients can tell you how the agency works day-to-day, how they handle challenges, and whether they truly deliver on their promises.

Ask the right questions

An interview or intro meeting with a CRO agency is a great opportunity to gauge their expertise and compatibility with your business. Don’t be afraid to ask probing questions to uncover how they work. Great questions to ask include:

• What Tools Do You Use? Look for familiarity with tools like Optimizely or Google Analytics. These platforms are essential for tracking and optimizing user behavior effectively.
• How Do You Define Success? The right agency will tie success to your specific goals. 
• Can You Walk Me Through Your Process? Their workflow should involve thorough research, strategic planning, rigorous testing, and ongoing analysis. 
• What Challenges Have You Solved Before? Their ability to discuss specific challenges—and how they overcame them—will demonstrate their problem-solving expertise and give you confidence in their approach.

Budget considerations

Cost is an important factor, however, don’t go straight to the cheapest option. Agencies that undercut the market may lack the experience, resources, or dedication to deliver meaningful results.

Instead, consider a CRO agency a valuable investment.

First, check their pricing. A reputable CRO agency will provide clear and upfront pricing. Ask for detailed proposals that outline exactly what’s included, including the tools and scope of work.  Some agencies offer “all-in-one” packages, while others may charge separately for analytics tools or extra rounds of testing.

Next, consider the potential ROI. A more expensive agency with a proven ability to deliver transformative results is often worth the cost.

Common misconceptions about CRO agencies  

Conversion Rate Optimization (CRO) agencies can deliver remarkable results, but misconceptions often cloud expectations or deter businesses from exploring their services. Let’s debunk some of the most common myths about CRO agencies and their work.

Myth 1: CRO is reserved for large businesses

It’s easy to assume that CRO is something only big companies with massive budgets can afford or benefit from. However, this is far from the truth. CRO is for any business that wants to get more out of its website traffic.

While your small business might not have the same traffic as a corporate giant, improving conversion rates by even 10% can still lead to noticeable revenue growth. A good CRO agency will tailor their strategies to your business’ size, goals, and resources. They can start with low-cost, high-impact optimizations like reworking your call-to-action buttons or simplifying your checkout process.

Once you gain traction, the agency can also scale its services as your business grows.

Myth 2: Results are instant and permanent

CRO is not a quick fix that will solve all your problems overnight. While fast improvements are possible, as mentioned earlier, CRO is a continuous process. Effective CRO involves detailed research, rigorous testing, and data analysis. Changes need time to show their full impact, and what works in one scenario might need adjustments in another.

Even after successful optimization, customer behavior and market trends evolve. A change that converts well today might require updates six months down the line. The best CRO agencies focus on long-term success, ensuring that improvements are not only impactful but also adaptable. 

Myth 3: CRO agencies don’t involve the client in the process

You may be worrying that you’ll lose control over your website once you hire a CRO agency. However, the best agencies thrive on transparent collaboration. 

They will involve you in every step of the process, asking for your input during the research phase. No one knows your business better than you, and they rely on your insights to develop a successful strategy.

Many CRO agencies will also work alongside your team to implement changes. If you have developers, marketers, or designers, the designers will coordinate with them to execute their changes smoothly.

Top signs you need a CRO agency

If you’re on the fence if a CRO agency is the right investment for your business, here are some clear signals that it might be time to bring in the experts:

High traffic but low conversions

If your website is attracting plenty of visitors but only a small fraction are taking the desired action, you’ve got a conversion problem. This often points to a disconnect between what visitors want and what your website delivers. It could be unclear messaging, poor navigation, or an ineffective call-to-action.

Poor user engagement metrics

If your numbers are low (or high in the case of bounce rates), it’s a sign your site isn’t engaging visitors. For example, a high bounce rate or short session durations could mean your site isn’t intuitive, the content isn’t relevant, or the design isn’t compelling.

Lack of in-house expertise or resources

Even if you recognize the importance of optimization, it’s not always realistic to handle it internally. CRO requires a mix of skills that many teams don’t have the bandwidth or experience to tackle. Without the right resources, your efforts may end up being guesswork. You might test changes that have little to no impact—or worse, hurt your performance and waste your resources.

Wrapping up

Unlocking your website’s potential starts with understanding just how much growth you’re leaving on the table. Why stay satisfied with “good enough” when you can have more? Hiring a CRO agency supercharges your business with data-driven insights, sharper strategies, and measurable, impactful results.

So, ask yourself, Is my website performing at its best? Am I converting as many visitors as possible or am I watching opportunities slip away? 

It’s time to take note of what’s working and what’s not. The next step? Reach out to a CRO agency for a consultation or an in-depth primer on their services. Take the first step today and watch your business thrive and grow into everything it’s truly capable of achieving.

Bonus Tip: Questions to ask a CRO agency before hiring

Aside from the questions listed earlier, here are more questions to ask before signing the contract with a CRO agency:

• How Do You Tailor Strategies to Specific Industries? A one-size-fits-all approach won’t deliver the best results. The agency should demonstrate familiarity with your industry and share examples of how they’ve addressed similar challenges in the past. Their response will reveal how deeply they understand your market and audience.
• What Are Your Success Metrics? A good CRO agency measures success with clear, actionable metrics—but they should align with your goals. If their definition of success doesn’t align with your business priorities, you might not see the results you want.
• Do You Offer Ongoing Support After Optimization? Continuous testing and improvement keep you ahead of the curve. Ask if they offer maintenance packages, follow-up testing, or tools and resources to help your team carry the optimization forward. Their willingness to support you long-term can indicate how invested they are in your success.

FAQs

What is a CRO agency?

A CRO agency is a specialized firm that helps businesses improve their website’s ability to convert visitors into customers or leads. These agencies use data-driven strategies, including user behavior analysis, A/B testing, and design optimization, to enhance conversion rates. 

What does a CRO agency do?

A CRO agency provides a range of services to optimize conversion rates. This includes conducting website audits, analyzing user behavior, running A/B tests, and improving landing page design. They also develop personalized strategies to address specific challenges, track performance metrics, and continuously refine optimization efforts. 

When should I not partner with a CRO agency?

You may want to hold off on partnering with a CRO agency if your website doesn’t yet have consistent traffic or if your business isn’t ready to invest time and resources into the process. CRO services work best if you have a clear target audience, established goals, and enough data to analyze user behavior. If you’re still in the early stages of building your online presence, focus on traffic generation first.

What industries benefit the most from CRO services?

All businesses with an online platform benefit from CRO services. However, industries like e-commerce, SaaS, and lead generation-heavy fields see particularly high returns. E-commerce companies can maximize sales by reducing cart abandonment. SaaS businesses benefit from optimizing free trial signups and demo requests. Similarly, lead generation-focused industries can increase the quality and volume of leads through better-optimized funnels.

The post Does Your Business Need a CRO Agency? What They Offer & How to Choose the Right One appeared first on jeffbullas.com.

* This article was originally published here

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Is This Overlooked Habit the True Path to Success?

It’s 6:30 a.m., and I’m in my sunroom, bathed in the soft glow of the early morning light. I sit in silence, meditating for 20 minutes. It is the first part of the routine of my day. 

A steaming mug of black coffee warms my hands as the melodic warble of songbirds fills the air, entertaining me while I read. I drift between articles, the book in front of me, and moments of reflection, letting ideas and inspiration flow into my consciousness.  

Beside me sits my iPhone with the “Notes” app open, ready to capture snippets of insight. Its simplicity appeals to me—ideas jotted down, links saved, thoughts preserved.  

I’m not just taking notes, though. In some ways, I’m like Charlie Munger, the billionaire of Berkshire Hathaway fame, whom his children described as “two legs sticking out of a book.”  

This routine is part of my investment in compound knowledge. Learning doesn’t happen overnight; it unfolds slowly over decades, creating a treasure trove of wisdom to build a successful life.  

To put it in perspective, consider a financial analogy: investing $10,000 in the U.S. markets at age 30 can grow to $237,318 by age 60, provided you reinvest the dividends. Similarly, knowledge grows exponentially when consistently nurtured.  

Yet, most people shy away from the long game—whether in financial investments or the pursuit of lifelong learning.  

So, is compound knowledge the overlooked habit that leads to success? Let’s find out.  

What is compound knowledge

Compound knowledge is the exponential growth in understanding and wisdom that occurs when information and skills are continuously built upon previous learning over a lifetime.

It is also the result of an attitude of continuous learning powered by curiosity which is “the practice” and compound knowledge is the “outcome”. 

The real power of compound knowledge hinges on the synergistic intersection of knowledge, expertise, and experience. When these elements come together, they create a powerful multiplier effect that can enhance understanding and innovation beyond the simple sum of its parts. Knowledge on its own has no power. Acting on knowledge is where the idea meets action and application.

Like layers in a building, each new layer of knowledge adds more depth and stability to the foundation. The key idea is that learning something new not only adds to your knowledge base but also enhances your ability to learn other things faster and more effectively in the future.

Why it matters (7 benefits)

Many people complete school, with some advancing to university or college. They often sit back, satisfied, and think, “My education is complete.” In reality, it’s only the beginning. The next essential steps are gaining experience and building expertise to complement their formal classroom education.   

The benefits are are many and here are seven to consider:

1. Accelerated learning: As you accumulate knowledge, you develop a richer context for understanding new information. This can accelerate your learning process because you can quickly connect new facts to a robust framework of existing knowledge.
   
2. Better decision making: A deep and broad knowledge base can improve your ability to make decisions and solve problems because you have more perspectives and tools at your disposal.
   
3. Increased innovation: With a comprehensive understanding of various subjects, you can combine ideas in unique ways, leading to innovation and creative solutions.
   
4. Long-term advantages: Investing in compound knowledge can yield long-term benefits in your career and personal life. The more you know, the better equipped you are to adapt to changes and seize new opportunities.
   
5. Resilience and adaptability: An investment in lifetime learning that compounds over time also provides the foundations for resilience needed in a rapidly changing economic landscape and fast moving world. Reinvention requires new skills and developing new expertise.
   
6. Cognitive health: Studies have shown that lifelong learning can help maintain and improve cognitive function, potentially delaying the onset of cognitive decline associated with aging.
   
7. Social benefits: Lifelong learners often engage more in community and social activities, which can improve life satisfaction and emotional well-being. This engagement can lead to enhanced social networks and support systems.

It’s important to note that learning, wisdom, and success are not confined to universities, colleges, or formal tertiary education. 

• Oprah Winfrey attended university. She went to Tennessee State University, where she majored in Speech Communications and Performing Arts. Oprah’s time in college was pivotal as she began her career in media by working at a local radio station, which set the foundation for her future success in television.
  
• Richard Branson did not attend university. He struggled with dyslexia and dropped out of school at the age of 16. He then started his first business, a magazine called Student. His early start in entrepreneurship led to the creation of the Virgin Group, which grew into a global business empire spanning various industries from music to airlines.

There are many ways to learn and that includes YouTube, books, podcasts, audiobooks. But what is needed is a burning curiosity.

Going deeper

In 1958 while working in his barn in Clarence, New York, Wilson Greatbatch, an engineer and inventor, serendipitously created the pacemaker’s crucial component.

While building an oscillator to record heart sounds, he installed a wrong resistor, which caused the device to emit a steady electrical pulse. 

Greatbatch recognized the potential for this device to regulate heartbeats, combining his knowledge of electronics, his expertise in device fabrication, and his experience with the needs of cardiac patients to invent the first practical implantable pacemaker. In 1960, the first pacemaker was implanted in a at the Veterans Administration Hospital in Buffalo, New York.​

The synergy of knowledge, expertise and experience had compounded and resulted in an innovation that changed the world. 200,000 pacemakers a year are implanted every year in the USA alone. 

What does ancient wisdom reveal about lifetime learning?

Benjamin Franklin (American polymath and Founding Father) – Although not ancient, Franklin’s centuries-old views on continuous learning resonate with the values of ancient wisdom. 

He famously said: “An investment in knowledge pays the best interest.“

Plato, one of the most pivotal figures in Western philosophy, argued that education and knowledge are central to achieving a well-lived life. His philosophy suggests that education is a lifelong process of striving towards understanding and truth. 

He stated: “The direction in which education starts a man will determine his future life.“

What science says

The data and scientific research underscore significant financial and personal benefits of lifelong learning and accruing compound knowledge.

According to the U.S. Bureau of Labor Statistics, there’s a clear correlation between higher educational attainment and improved financial outcomes, including higher earnings and lower unemployment rates.

For instance, in 2022, individuals with higher degrees such as master’s, professional, and doctoral degrees earned significantly more than those with less education and also faced much lower unemployment rates​.

But what stops us from investing in compound knowledge?

Most of us want a quick fix. A magical solution. To be able to wave a wand like a wizard and get rich and be happy. Also for many, the fact that you don’t feel wiser and more knowledgeable after one day or one week or even a month can be disheartening. But compound knowledge growth is a long game. It’s a habit cultivated over years.

1. Compound knowledge is hard to see

Compound interest (or investment) is easy to see if you have a dashboard that shows investments. There is no dashboard to your brain that shows your knowledge growing (but maybe one day there will be). Seeing growth is motivating and affirmation of progress can be intoxicating.  

2. Compound knowledge is slow to emerge

The 10,000 hour rule to go from amateur to professional is a glimpse into why many of us don’t invest in our knowledge growth. It doesn’t matter whether you are a creative, a scientist or academic.Many do not persist long enough to breakthrough. For most it takes too long and it is too hard. 

How famous and successful people invest in compound knowledge 

Many successful people invest in learning and never stop even after leaving college. In fact it would be hard to find a successful person who patiently invested in knowledge. Here are 4.  

Jeff Bezos – The founder of Amazon has consistently emphasized the importance of high-quality decision-making based on rigorous understanding and diverse information sources. His commitment to learning has been instrumental in Amazon’s innovation and expansion into various business areas.

Ray Dalio – The founder of Bridgewater Associates, one of the world’s largest hedge funds, Dalio is a proponent of using historical knowledge and systematic frameworks to understand economic and investment patterns. His philosophy of ‘radical transparency’ and principled decision-making is rooted in his deep commitment to learning and understanding complex systems.

Melinda Gates – Co-chair of the Bill & Melinda Gates Foundation, Melinda has invested heavily in learning about global health, education, and development policy. Her approach to philanthropy is deeply informed by her continuous learning and engagement with a broad range of subjects related to human welfare and global development.

Susan Wojcicki – As CEO of YouTube, Wojcicki has continually adapted and learned new skills to lead one of the most influential media platforms globally. Her insights into technology, business strategy, and consumer behavior have helped propel YouTube’s growth and dominance in the video streaming sector.

How AI  can help us invest in compound knowledge

I would like to be a polymath and mingle disciplines to become more innovative. On my own, I could never get close to that goal. That gift escaped me at birth in my organic DNA.

But what if I had an AI assistant to amplify my intelligence? 

One big promise of AI is to be able to help you do that. We can ask questions that cross different verticals of academic boundaries to combine and recombine. We can ask ChatGPT prompts that unearth knowledge and new combinations of ideas in seconds. Here are some ways to use AI to be your coach and assistant:

Fast and almost perfect memory – Humans ability to recall varies. My brother has an almost photographic memory.  Being able to recall instantly and synthesize allows genius to arise if we are creative enough to take advantage. AI and ChatGPT have instant recall from the embedded global memory of our now digital planet that has collected all the recorded information and knowledge  

Personalized learning – It can tailor and personalize content for each individual – ChatGPT is like a coach and consultant in your hand

Knowledge is easily accessible – The Large Language Models that distill information into knowledge sits on the smart phone in an app. It is like having the world brain at your fingertips. So use it when you have a question or are curious about a topic.  

Integration of knowledge – It allows you to find connections between disparate disciplines and unrelated fields. 

Let’s have a closer look and why having a good memory helps with compound knowledge and why having an AI assistant at hand with fast recall and an almost infinite global memory provides almost super intelligence.    

Importance of a good memory in compounding knowledge

1. Retention of information: The more information you can retain, the larger your base of knowledge to draw upon when encountering new concepts or challenges.
   
2. Connection of concepts: A good memory facilitates the connection between new and existing knowledge. Being able to remember details and their interrelations allows for more complex and integrated understanding.
   
3. Speed of learning: With a strong memory, learning new things becomes more efficient because you spend less time relearning forgotten information and more time building on what you already know.
   
4. Enhanced problem-Solving: The ability to recall diverse pieces of information can lead to better problem-solving skills as you can apply varied solutions to a problem or synthesize new ones from past insights.
   
5. Confidence in decision-making: When you remember more, you have a richer reservoir of knowledge to draw from, leading to greater confidence and often more accurate decisions in both personal and professional contexts.

How AI can help enhance memory for compounding knowledge

AI can play a significant role in enhancing memory capabilities, which in turn supports the compounding of knowledge:

1. Spaced repetition systems (SRS): AI can implement spaced repetition algorithms to help learners review information at optimal intervals. This technique increases the likelihood of transferring information to long-term memory, which is crucial for building a lasting knowledge base.
   
2. Personalized learning paths: AI can analyze individual performance and learning habits to create personalized study schedules and content, ensuring that learners focus on areas where they need more reinforcement, which helps in better memory retention.
   
3. Interactive and engaging learning materials: AI-driven platforms can generate interactive content such as quizzes, flashcards, and simulations that make learning and memorization more engaging and effective.
   
4. Integration of multimodal learning: AI can facilitate multimodal learning by integrating text, images, videos, and interactive elements, catering to different learning styles and improving memory by engaging multiple senses.
   
5. Real-time feedback and adjustments: AI systems provide real-time feedback, allowing learners to immediately correct misunderstandings and reinforce memory consolidation through practice and repetition.
   
6. Cognitive enhancements: AI tools can help in training cognitive skills like attention, concentration, and memory capacity through various exercises designed to boost mental agility and memory strength.
   
7. Data-driven insights: AI can analyze long-term data to identify trends in memory performance, providing insights into the effectiveness of learning techniques and memory retention strategies. This analysis can help refine approaches to learning and memory enhancement.

The bottom line 

Success is a suitcase word that once explored and opened for discussion, has many nuances and meanings. Success is sometimes measured by how much money you have in the bank.

It can also be measured by what a difference you have made in the world. For some it means happiness. For others, it may even mean how many followers they have on TikTok or Instagram. 

But the bottom line is that investing in lifetime learning and compounding your knowledge and applying that to creating something that matters and you care about is providing you with the best chance of success. 

AI can also accelerate and amplify our learning and help us retain it. Learning that moves from ideation to creation is what matters.

The post Is This Overlooked Habit the True Path to Success? appeared first on jeffbullas.com.

* This article was originally published here

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91% of Marketers Swear by Marketing Automation—Here’s Why You Should Too

Today, marketing has become a juggling act. You’re managing email campaigns, social media, analytics, and customer engagement—all at once. The pressure to stay ahead, personal, and efficient has never been greater. 

So, how do you keep up without burning out?

The answer is marketing automation. It streamlines repetitive tasks, letting you focus your efforts on what matters most: connecting with your audience and driving results. And the numbers back this up. According to Ascend2, 91% of marketers say marketing automation helps them achieve their goals.

Join us as we uncover how marketing automation works, the tools that can transform your marketing workflow, and the steps to successfully implement automation.

Table of Contents

• What is marketing automation?
• Benefits of marketing automation
• Key features of marketing automation tools
• Digital marketing automation: A deep dive 
• Common myths about marketing automation  
• How to implement marketing automation successfully  
• Challenges of marketing automation (And how to overcome them)  
• Future of marketing automation  
• Wrapping up
• FAQs

What is marketing automation?

The definition of marketing automation is simply the use of software and other technologies to manage various marketing processes with minimal human intervention. These tools can automate repetitive marketing tasks, such as email, social media, and even certain aspects of affiliate marketing. As a result, you can focus on more high-value work, saving time and increasing efficiency.

Benefits of marketing automation

Let’s break down the real advantages that make marketing automation a must-have tool for modern marketers:

Saves time and resources

Since it eliminates repetitive manual tasks, marketing automation lets you save both time and resources. Besides minimizing labor costs, it also improves your resource allocation by allowing your team to concentrate on strategic activities. Instead of sending out emails or posting on social media, you can now brainstorm ideas for your next campaign.

Enhances customer personalization

Marketing automation may seem impersonal, but it can help you create more personalized content. It works by tracking what your leads do, how they behave, and what they like. Then, it organizes them into groups based on this information. This helps you understand your leads’ needs and deliver messages that match their interests.

Boosts lead generation and nurturing

Marketing automation can streamline the entire process of attracting, engaging, and converting potential customers. The software can send tailored follow-ups by triggering actions based on specific customer behaviors or sales funnel stages. For example, if a lead abandons their cart, the system can send a personalized email with a reminder or offer to re-engage them. 

Marketing automation also allows easier lead scoring. This lets you identify high-quality leads based on their behavior, such as website visits, downloads, or email actions. As a result, you can prioritize prospects most likely to convert.

Increases campaign ROI

Achieving higher ROI in marketing campaigns requires efficiency, precision, and data-driven decision-making—all made possible with automation tools. These tools track key metrics such as click-through rates and conversions, letting you refine and optimize strategies in real-time.

Key features of marketing automation tools

RolusTech

Marketing automation allows you to take control of your campaigns and create more impactful customer experiences. Here are some of the key features that make these tools so valuable:

Email marketing automation

Email automation lets you send timely and relevant messages effortlessly. Here’s how you can benefit:

• Personalize your content: Tailor emails to match customer preferences to grab their attention.
• Set up triggered workflows: Send follow-up emails automatically when someone signs up, abandons a cart, or interacts with your content.
• Use drip campaigns: Deliver a series of emails that guide your leads step-by-step toward making a purchase.
• Run A/B tests: Test subject lines, designs, and CTAs to see what works best for your audience.
• Integrate with CRMs: Align your email campaigns with customer data to ensure consistent and relevant communication.
• Track detailed metrics: Monitor open rates, click-throughs, and sales conversions to fine-tune your campaigns.

Social media scheduling and management

Social media tools help you stay active and engaging across platforms without burning out. Here’s what you can do:

• Schedule content: Plan your posts ahead of time and publish them when your audience is most active.
• Manage platforms from one place: Use a single dashboard to control multiple social media accounts.
• Generate content ideas: Use AI suggestions to discover trending topics and create posts your audience will enjoy.
• Automate engagement: Respond quickly to comments and messages using pre-set tools.
• Analyze your results: Review post performance, engagement, and reach to adjust your strategy and maximize your impact.

Customer segmentation and targeting

Your audience isn’t all the same, and these tools help you speak to each group in a way that clicks:

• Segmenting by behavior: Group customers based on their actions, like browsing your site or opening emails.
• Applying demographic filters: Target customers based on their age, gender, or location for more personalized campaigns.
• Using predictive analytics: Analyze customer data to predict their next steps and adjust your marketing accordingly.
• Retargeting effectively: Re-engage interested customers through ads or follow-up emails when they don’t convert immediately.

Analytics and reporting

Data-driven marketing gives you clarity and direction. Use these features to optimize your efforts:

• Track performance on dashboards: Get a clear view of how your campaigns perform in real-time.
• Measure ROI directly: Analyze which campaigns generate the most revenue and focus your budget there.
• Build custom reports: Create detailed reports that highlight your goals and share them with your team.
• Spot trends early: Identify patterns in customer behavior to plan your future campaigns.
• Use attribution models: Pinpoint the key steps in a customer’s journey to refine your marketing efforts.

Digital marketing automation: A deep dive 

With most marketing efforts now happening online, the need for digital marketing automation has skyrocketed. Businesses face the challenge of managing multiple digital channels, all while keeping campaigns consistent and personalized. Digital marketing automation steps in as the solution, helping marketers handle the online world’s complexity.

What is digital marketing automation?

Digital marketing automation uses software to automate repetitive online tasks and streamline digital workflows. Aside from digital marketing, general marketing automation includes affiliate marketing software and other tools to handle offline tasks such as in-person event marketing. Meanwhile, digital marketing automation zeros in on online channels, such as:

• Websites
• Social media platforms
• Search engines
• Email campaigns
• Paid advertisements (PPC)

How automation boosts SEO, content marketing, and PPC performance

To start, digital marketing automation can handle SEO tasks like keyword tracking and site audits. It helps you find the best keywords, fix site issues, and optimize content for search engines. As a result, you can improve search rankings without needing constant manual effort.

In content marketing, automation helps deliver consistent and personalized experiences. You can schedule posts and use automated reports to track their performance. AI-powered tools also suggest new topics based on trends, making it easier to create relevant and impactful content.

For PPC campaigns, digital automation can improve bids, targeting, and ad testing. You can adjust your budgets through smart bidding and shift funds to the best-performing ads. This allows you to run effective campaigns without wasting time or resources.

Examples of digital marketing automation tools

1. HubSpot Marketing Automation

HubSpot

HubSpot’s comprehensive marketing automation platform simplifies workflow creation with its visual board. Its standout feature is its seamless integration with HubSpot’s CRM and growth suite. This includes sales, marketing, and support software, allowing you to keep all your data and activities in one place. HubSpot Academy also provides resources to help you scale up quickly. 

2. Mailchimp

Mailchimp

Mailchimp is a full-service marketing hub perfect for small businesses just starting with marketing automation. It offers convenient email templates, helpful reports, and improved AI tools for recommendations and automation. Beyond email, Mailchimp now includes basic e-commerce, surveys, and CRM features, making it a one-stop shop for most marketing needs. 

3. Brevo

Brevo

Brevo is a user-friendly digital marketing platform for both beginners and experienced marketers. It lets you create mobile-friendly email campaigns using customizable templates or start from scratch. You can also run SMS and WhatsApp campaigns, giving you more ways to connect with your audience. Extra features like lead scoring and detailed reporting help you improve your marketing efforts, and the free tier makes it great for small budgets.

Common myths about marketing automation  

Despite its benefits, you will likely come across false generalizations that give marketing automation a bad rep. Well, we’re here to debunk these three common myths:

Myth #1: “It’s only for large businesses”

This widespread misconception couldn’t be further from the truth. Marketing automation is a valuable tool for businesses of all sizes. In fact, many companies offering the service tailor their solutions to small and medium-sized businesses (SMBs). Smaller businesses tend to benefit even more from marketing automation since they have limited staff and resources.

Myth #2: “Marketing automation is impersonal”

This myth likely stems from the idea that automated systems produce cookie-cutter content. Marketing automation actually amplifies personalization by using customer data to create tailored material. Automation can segment audiences based on their actions and interests. When used correctly, it ensures your message is delivered to the right person at the right time.

Myth #3: “It replaces the need for a marketing team”

Automation is a tool, not a replacement for human creativity and strategic thinking. It still requires skill to create compelling campaigns, analyze results, and adapt strategies. Automation might reduce the manual workload, but it doesn’t eliminate the need for tasks that require a human touch. This includes storytelling, design, and audience engagement. 

Instead of replacing marketing teams, automation empowers them to work smarter. Therefore, marketing automation complements human expertise—not replace it.

How to implement marketing automation successfully  

Now that we know what marketing automation can do, the next step is to figure out how to set it up for success. We’ll walk you through the key steps to help you unlock marketing automation’s full potential for your business. 

Step 1: Define your goals and KPIs

Before jumping into automation, you need to know what you are trying to achieve with marketing automation. Essentially, you’re setting S.M.A.R.T. objectives. Common goals include:

• Nurturing leads
• Increasing conversions
• Improving customer retention
• Driving more sales

Once you’ve set these goals, ask, “How will I measure progress?.” Simple: break them into measurable key performance indicators (KPIs). For example, if your goal is to boost conversions, a suitable KPI could be increasing the conversion rate by 20% over the next quarter.

Defining KPIs also helps prioritize your efforts. You’ll know which metrics to monitor and can adjust quickly if you’re off track. Without clear goals, you might implement automation blindly, wasting time and resources.

Step 2: Choose the right marketing automation software

The software you choose can make or break your automation strategy. Evaluate platforms based on your business size, budget, and needs.  For example, if you need to nurture leads through email sequences, platforms like Mailchimp or HubSpot might be a good fit. Consider your team’s tech skills, too. Don’t pick something so complex it feels impossible to use. 

Many tools offer free trials. Use this period to test workflows, evaluate customer support, and ensure it delivers value. A tool that doesn’t scale with your business can create headaches later, so think long-term.

Step 3: Segment your audience effectively

Segmentation is the secret ingredient to making automation feel personal. A well-segmented audience ensures that the right message reaches the right people. Think about the data you already have. You can group contacts by:

• Behavior: Has this person opened your emails? Have they clicked on links?
• Demographics: Age, gender, location, or even job role.
• Lifecycle stage: Are they a new lead, a repeat customer, or someone who hasn’t purchased yet?

To avoid assumptions, use tools that collect and analyze data. Examples of such tools include Google Analytics or your CRM. The goal is to make every interaction feel relevant, whether it’s a simple thank-you email or a tailored discount.

Step 4: Develop a workflow for your campaigns

A workflow is essentially the roadmap of your automation. It outlines the triggers, actions, and outcomes for each campaign. The key is to think through every possible customer interaction. For example:

1. Trigger: A lead downloads your free ebook.
2. Action: They automatically receive a follow-up email thanking them.
3. Outcome: If they click on the link in the email, they’re added to a nurturing sequence.

Brevo

Start small with a single workflow. Once you’ve mastered that, expand into more complex sequences, such as cart abandonment reminders or post-purchase follow-ups. Use tools like flowcharts or drag-and-drop editors in your software to visualize each step. Testing your workflows is crucial—check for errors, such as broken links or poorly timed emails.

Step 5: Regularly analyze and optimize your strategies

Automation still requires constant monitoring and revising. Even the most polished workflows need regular tweaking to stay effective. Here’s a practical example: 

If you notice that customers drop off after receiving your third email, it might be too long or irrelevant. Shorten it or test different content. A/B testing is your best friend here—try small changes and track the impact.

Also, don’t ignore qualitative feedback. Look for complaints about too many emails or irrelevant offers. Use this data to refine your workflows and ensure automation feels natural, not spammy.

Challenges of marketing automation (And how to overcome them)  

Marketing automation can be a game-changer, but it’s not without its challenges. Without careful planning, it can do more harm than good. Here are common issues that come with marketing automation and how to tackle them:

Initial setup complexities

Getting started with marketing automation can feel overwhelming. There’s software to learn, workflows to create, and integrations to set up. On top of that, you need clean, organized data to make automation effective. Many businesses struggle here because they jump into automation without a clear strategy. Furthermore, 49% of marketers cite a lack of skill and knowledge as a challenge to automation adoption.

To address this, take it step by step. Focus on one goal or campaign at a time, such as automating a welcome email for new subscribers. Start with tools that offer beginner-friendly interfaces and step-by-step guides. It’s also a good idea to spend time organizing your data beforehand. If needed, hire a consultant or use the vendor’s onboarding support to fast-track the setup.

Ensuring data privacy compliance

Marketing automation relies heavily on customer data, raising concerns about privacy. Mishandling data can be a PR nightmare, leading to legal trouble and hefty fines. Plus, privacy laws like the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the U.S. are constantly evolving, making it hard to keep up.

Transparency is your best friend here. Tell your audience exactly what data you’re collecting and how you’ll use it. Keep your sign-up forms clear and simple—no sneaky pre-checked boxes or fine print nobody reads. 

Also, ensure your software complies with privacy laws. Moreover, regularly audit your data storage practices. Put yourself in your customer’s shoes. Would you trust your system? If not, fix it.

Over-automation and maintaining a human touch

Automation can be a double-edged sword. Too much of it, and you risk becoming “that brand” that sends ten emails in a week with generic, robotic messages. If customers receive too many, they may unsubscribe or ignore you altogether.

To counter this, add a little heart to your campaigns and don’t automate everything. Some moments, like a big-ticket sale or a heartfelt thank-you, deserve a personal touch.

Future of marketing automation  

Artificial intelligence (AI) is shaping the future of marketing automation. AI-driven tools can predict customer behavior, optimize ad spend, and tailor messaging. With AI becoming more accessible, it’s poised to become a standard feature for companies of all sizes.

Automation is also expanding to other technologies. Chatbots are streamlining customer support by providing instant responses. Voice search, powered by virtual assistants like Alexa, is creating new opportunities for brands to deliver content optimized for spoken queries. Meanwhile, technologies like AR are adding interactive layers to marketing. Customers can now try on products virtually before making a purchase.

Wrapping up

Marketing today is all about striking a balance between speed and maintaining a personal touch. Marketing automation empowers you to do just that, giving your team space to do what they do best: being creative and strategic.

We’ve covered how automation simplifies email campaigns, refines customer targeting, and even takes the guesswork out of analytics. It’s a powerhouse that can elevate your marketing efforts. 

So, what’s next? 

Test the waters. Start small with a tool or two, and build as you grow. The sooner you start, the sooner you’ll see the impact—on your team, your campaigns, and most importantly, your results. 

FAQs

What is the difference between CRM and marketing automation?

CRM manages customer relationships and tracks interactions, helping with sales and customer support. Marketing automation streamlines repetitive tasks, focusing on attracting and engaging potential customers.

How to use marketing automation?

Define your goals and segment your audience. Then, choose a tool that fits your needs and create workflows to automate tasks. Monitor results and adjust your strategy to improve performance over time.

What are the benefits of marketing automation?

Marketing automation saves time by handling repetitive tasks. It allows marketers to focus on strategy and creativity while tools manage the heavy lifting. This can potentially improve lead generation, boost personalization, and increase ROI.

What is an example of marketing automation?

A common example is email automation. For instance, when a customer signs up for a newsletter, they automatically receive a welcome email. This is followed by a series of tailored emails based on their preferences or actions, such as downloading an ebook or making a purchase.

Which is the best marketing automation tool?

It depends on your needs and budget. HubSpot is ideal for comprehensive needs with CRM integration. Mailchimp is great for beginners and small businesses, while Brevo offers SMS and WhatsApp alongside email campaigns. Test free trials to see which tool best suits your business.

The post 91% of Marketers Swear by Marketing Automation—Here’s Why You Should Too appeared first on jeffbullas.com.

* This article was originally published here

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Is Google’s $196 Billion Empire Under Threat from ChatGPT?

Are we seeing a Kodak moment? 

Kodak invented the digital camera – it had 90% share of the photography market in the 1970’s and 85% of camera sales. But in 2012 it filed for bankruptcy, a shadow of its former self.

It failed to disrupt itself by leading the digital camera revolution, instead succumbing to a slow demise—death by a thousand cuts. Competitors and startups flooded the market with digital cameras, and Apple joined the fray with the iPhone, embedding a camera into its groundbreaking design. 

Google didn’t invent AI, but it was among the first to recognize its commercial potential, acquiring DeepMind in 2014 for $600 million. However, Google kept the technology in its research labs, aiming for perfection before launching a product.

Now, its hesitancy has become a threat to its credibility and the $200 billion annual revenue stream from “search advertising,” which faces stiff competition from ChatGPT.

In Quarter 3,  2024 Google search ad revenue was $49 Billion and annualized that means ad sales of $196 Billion a year.  

Analyzify.com

ChatGPT had nothing to lose. It launched barely 2 years ago and today it is knocking down Google’s front door. Its traffic of 3.85 billion a month has now surpassed Google’s traffic for its search engine of 3.45 billion visitors a month.

Apple chose to disrupt itself by creating the iPhone, a revolutionary product that cannibalized its own iPod—the very device that had transformed the company from a struggling player into a music industry powerhouse and ultimately paved its path to becoming a trillion-dollar business. The rest, as they say, is history.

Waiting to be perfect is overrated. 

Is my personal hunch correct?

There are many ways to research for my writing projects. My main two are Google and ChatGPT.

These days, I often start with a ChatGPT prompt instead of a google search.  I use both tools to find inspiration and information, but they serve different purposes. Google offers a collection of links and resources, usually spanning 5–10 options. ChatGPT, on the other hand, provides a distilled summary in a single response—and now even includes links for added context.

Anecdotally and personally I am finding that I am choosing to use ChatGPT more than Google. The question that I ask is “Is it just me or are other people doing the same thing?”

Beyond observing my own interactions with technology and relying on intuition for answers, I’m turning to the data for clarity. I’m searching for insights, truths, and trends amidst the endless noise of the web, fueled by over 8 billion people. It’s an effort to uncover what’s happening and identify patterns in the overwhelming flood of information. 

As humans, we are natural pattern-recognition machines—capable of spotting danger in an instant, discerning truth from lies, and solving problems with limited information. But today, we’re drowning in an avalanche of data, leaving us numb and overwhelmed. 

In the past, we leaned on intuition; then, we relied on data. Now, we’re turning to AI to find answers. Yet, even AI is far from perfect.

What’s the difference between Google and ChatGPT?

Google and ChatGPT are both powerful tools for accessing information, functioning as both competitors and complements. However, their approaches and functionalities differ significantly. 

• Google is a search engine that excels in retrieving a broad range of existing external content. It directs users to various websites, offering real-time information and diverse perspectives. This makes it ideal for specific inquiries needing up-to-date data or extensive research.
  
• ChatGPT operates as a conversational AI, generating responses based on its training data. ChatGPT excels in synthesizing information to provide direct answers and engaging in dynamic dialogues, which can be more tailored and interactive than Google’s one-way search queries. However, ChatGPT cannot fetch real-time data or offer the breadth of viewpoints that Google can through its links to external sites.

The choice between Google and ChatGPT depends on the user’s needs: 

1. Google is preferable for accessing the latest information and a wide range of sources. 
2. ChatGPT is better suited for interactive learning, content creation, and explaining concepts in a conversational manner. 

These differences are crucial for users to consider to effectively utilize each tool according to their specific information needs.

So they are both complementary and competing. And they are also moving onto each other’s turf. ChatGPT has added ChatGPT search to its platform and Google has added its competing ChatBot Gemini to its search engine. 

So comparing data between both is a glimpse into what’s happening and also into what the future landscape will maybe look like. 

But what is the data telling me?  

Is the data revealing a big shift?

Web traffic is a simple data indicator of what we are most interested in and what platforms are capturing our attention. Website traffic comes from a few sources and for many it is from Google search.

Google changes its algorithm and media companies die or thrive. Google had become the god of the digital universe. The digital traffic policeman. Its algorithms can make or break businesses. Traffic can be given and it can be taken away with one tweak of the rules that determine where they send traffic.    

With the rise of social media we also started to see traffic from Twitter (now X), then Facebook (Now Meta), followed by Instagram (hasn’t changed its name yet) and now TikTok. Influencers emerged and that gave power and attention to podcasters that attracted clicks and influence. 

Today we have a new kid in town named “ChatGPT” and they have many emerging competitors. These include the major players Microsoft-Co-Pilot and Google Gemini, Perplexity and Claude that have all released Chatbots.

So what is the data saying?

What’s the signal in the noise of the data?

Signal one: ChatGPT traffic

ChatGPT’s traffic is growing fast and after setting a new monthly traffic record of 2.2 billion visits in May 2024, ChatGPT kept climbing, to 3.7 billion visits in October, according to Similarweb.

To put that growth into some context, ChatGPT “only” received 152.7 million visits in its first month in November 2022,(barely 2 years ago).

Below is the chart showing the growth from November 2022. But in April this year (2024) OpenAI (that owns chat GPT) changed the domain name from Chat.OpenAI.com to a simpler domain name of ChatGPT.com that makes much more sense for branding, reduce confusion and for simplicity. That is why you see below the orange line fall away and the blue line rise. 

Similarweb

But what is telling are the growth numbers. Chat GPT has had the following growth metrics in the last year.  

In October 2024 it had achieved:   

• 17.2% month on month growth
• 115.9% year on year increase from 2023

The signal in the noise reveals that ChatGPT is a traffic threat and a challenger. 

So let’s look at Google’s traffic as a comparison. The giant incumbent vs the upstart.  

Signal two: Google traffic

Google has dominated search for nearly 20 years. But the growth is slowing. And over the last year since 2023 Google has had an estimated 3.45 billion visits. 

Source Demand Sage

Google’s growth in comparison to ChatGPT has plateaued. 

• In the last year Google has only grown 4.5%
• In the last 5 years it has grown 44.35%

In essence, Google’s growth is minimal as it almost has a monopoly. But it is now fighting an existential battle as ChatGPT has passed its traffic and also is offering a competing search engine.

The signal in the noise here is that Google has started to top out and maybe reached its pinnacle. So, it needs to find new revenue streams.    

 Signal three: ChatGPT competitors 

Let’s take a step back and look at the AI landscape and see what else is happening. These include ChatGPT direct competitors and other AI platforms that produce AI images and more. In the main the whole AI platform and AI app industry sector is also seeing rapid growth.

The “Other” AI ChatBots

Microsoft Co-Pilot – 69.4 million visitors and a monthly jump 87.6%. This is a bit muddy as Microsoft is starting to direct traffic from its Bing AI and Search hybrid site. 

Google’s Gemini Chatbot – 291.6 million users which is a 9.2% monthly increase and a 19% annual growth. 

Claude Chatbot from Anthropic – 84.1 million visitors in October 2024. 25.5% monthly growth and a 394% annual growth. 

Perplexity chatbot – 90.8 million visitors in October 2024, which is 25.5% monthly growth and nearly 200% annual growth

Top Generative AI ChatBots by Market Share – November 2024

First Page Sage

The signal in the noise here is that as a horizontal and general generative AI tool and Chatbot it is now the dominant player. In most markets one player ends up dominating and then the others fight over the crumbs. 

The bottom line(s)

In looking at those numbers I think it is clear that ChatGPT has become the “go to” platform for “Generative AI“ at nearly 60% market share(as its competitors are a fraction of its monthly users) just like Google is the first place for performing search. But Google Chrome is not going away anytime soon and will coexist with AI Chatbots. It has many levers to pull and deep pockets.

The questions are many and include “Will ChatBots and Search blend and become hybrid?” or “Will they stay in their respective corners”. Google is adding AI to its search and ChatGPT is adding a search feature to its app. 

The other key to what happens in the future is when ChatGPT starts to monetize its user base of nearly 4 billion monthly visitors (It was announced in  the Financial Times recently that they are exploring and even hiring experts to help them do that) 

This will be something to watch closely because when Facebook launched its ad based model, the social media industry was transformed and the game went from free to pay to play as the platform’s algorithms were designed and continue to evolve to maximize revenue at the expense of the user. 

The other fire that ChatGPT will need to address soon is that it is also burning through $5 Billion a year and shareholders will need to see monetisation soon. But when? But that is for exploring another day. So watch this space.   

So…what we are watching is a battle between the old lion (valued at Trillions of dollars) and the new challenging up-start lion cub (ChatGPT) which is currently valued at $150B and is still a start-up. 

AI is here to stay but what it will look like in ten or twenty years is a guess at best. Kodak took a long time to die. 

The post Is Google’s $196 Billion Empire Under Threat from ChatGPT? appeared first on jeffbullas.com.

* This article was originally published here

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