Conversica, Inc, the leading provider of AI-powered Conversation Automation solutions for enterprise revenue teams, today announced the results of its latest research study The 2024 Marketing Executive AI Sentiment Report.

The Report explores the advantages marketing leaders believe AI brings to revenue growth and their brand over the past year, and plans for its use in the next 12 months by CMOs, VPs, and marketing executives. The Report also reveals top use cases where marketing leaders are leveraging AI for revenue growth, and highlights their general AI trust sentiment.

Key Findings:

• 89% of marketing leaders reported AI-driven initiatives have directly contributed to an increase in revenue within the last year
• 90% plan to increase investment in AI by expanding the use of current tools or exploring new AI applications in the next year
• Marketing leaders believe AI technologies have the greatest potential to impact the middle of the funnel (44%), with lead nurture and qualification topping their list of use cases with the greatest impact on conversion rates and revenue (45%)
• 69% of respondents reveal their top concern is AI’s ability to deliver trustworthy, brand-accurate information
• 53% of marketing leaders are concerned about losing human oversight in customer interactions with the use of AI

Download the full survey report here.

AI Adoption in Marketing

With fewer than 5% of marketing executives reporting no AI usage in the past 12 months, The 2024 Marketing Executive AI Sentiment Report confirms AI has been widely adopted for marketing in the last year. Data on respondents’ plans for the future show that AI for marketing use will continue to grow over the next 12 months, with 46% planning to increase investment in AI technology they already use and 44% planning to experiment with new applications.

“Conversica’s latest Report shows businesses have moved past the ChatGPT frenzy and beyond the experimental stage to understand how AI becomes their competitive advantage,” said Jim Kaskade, CEO of Conversica. “Savvy marketing leaders who strategically adopt comprehensive AI-powered Conversational Automation solutions for revenue-centric business operations such as lead generation, engagement, and conversions are already experiencing steady growth and concrete revenue-generating results. In fact, I’ll be as bold to say, ‘adopt or die’. For CMOs executing on the status quo, get ready for the unemployment line.”

A key finding from the Report identified a correlation between specific AI use cases and sales conversions that resulted in revenue. Marketing leaders who plan to prioritize AI use for inbound lead engagement and outbound lead generation next year were more likely to have experienced a direct increase in revenue attributed to AI use within the last year.

Looking beyond their own immediate plans, nearly half (45%) of Marketing leaders rated lead nurture and qualification as the AI use case with the highest potential to impact conversion rates and drive revenue growth.

Over the next 12 months, respondents’ plans for AI use cases to impact the funnel include:

• Improving real-time engagement and responsiveness to leads (65.5%)
• Scaling outbound marketing for lead generation (59.5%)

Inbound follow-up, which the group selected as their top planned use case for the next year, was a distant second when compared to potential conversion rate impact, with less than a quarter placing it at the top of their list.

“As new tools are launched and marketing use cases continue to expand across businesses and industries, we expect to see organizations focus on refining their AI strategies and applications to harness their full potential. In the next year, AI will deliver even more revenue opportunities and impact growth as marketing executives scale their use cases and reap the benefits,” added Kaskade.

Overall Trust in AI is High, With Brand Accuracy a Top Concern

The Report revealed that 89.5% of marketing leaders trust AI at least somewhat to act autonomously within their organizations, with 44.5% reporting complete trust and 44.5% some trust. When asked to highlight their specific concerns for Conversational AI use cases, respondents cited AI’s ability to deliver trustworthy, brand-accurate information most (69%), followed by losing human oversight in customer interactions (53%).

Given these concerns, to ensure a reliable AI integration process within a company, leaders must create a transparent process that allows human oversight and only acquire solutions from trusted AI providers that have proven track records for success in the specific use cases they’re seeking to deploy. Learn more about the ethical use of AI in Conversica’s AI, Ethics and Corporate Responsibility Report.

About the Study

The research study was conducted online using a random sample of 454 CMOs, VPs, and marketing executives within the United States by SurveyMonkey on behalf of Conversica in February 2024.

About Conversica

Conversica delivers two-way conversations that activate all parts of the funnel with precision, proactively increasing conversions and growth. Whether the focus is converting leads in Marketing, closing deals in Sales or growing existing customers in Customer Success, Conversica’s Powerfully HumanⓇ conversations are informed by the industry’s most advanced enterprise-class, self-learning AI models derived from billions of human interactions over more than a decade. The Conversica Conversational AI platform is powerful enough to hold meaningful dialog in real-time across the entire customer lifecycle and smart enough to seek out and fill the ‘conversation gaps’ in the funnel, delivering the right message at the right time to put any hint of interest on the fast track to conversion. Attack each gap and slowdown point in the buyer journey with precision, influencing and persuading leads, prospects and customers through automated 1:1 interactions tailored to the unique needs of each contact.

“We are thrilled to welcome the talented Bunker Hill Labs team to eLocal,” said Jeff Paradise, CEO of eLocal. “Bunker Hill Labs has achieved remarkable success in a short period, building a reputation for expertise in driving high-quality leads. Their team’s deep understanding of our biggest markets and innovative lead generation approach perfectly complements our existing offerings.”

“We couldn’t be happier with the strategic fit we have with eLocal. This acquisition represents an incredible opportunity for us to leverage our combined strengths, drive innovation, and deliver even greater value to the combined customer base,”said Ray Burt, Co-Founder of Bunker Hill Labs. The acquisition of Bunker Hill Labs expands eLocal’s suite of marketing solutions, enabling them to offer clients a more comprehensive range of services, including:

Expanding Owned and Operated Media: eLocal will leverage Bunker Hill Labs’ expertise to develop and manage a robust portfolio of owned and operated media tailored explicitly to the Legal and Home Services industries. This strategic investment will allow eLocal to attract a wider audience of potential customers and advertisers.

Form Lead Generation Powerhouse: The combined forces of eLocal and Bunker Hill Labs create a powerhouse for lead generation. This acquisition expands on eLocal’s industry-leading call-based lead product, which has a long history of success. By strategically placing high-converting forms across owned and operated media, paid advertising placements, and partner networks, eLocal can capture a significant volume of qualified leads for Home Services, Legal, and other business verticals. This ensures a steady stream of potential customers actively seeking specific services, dramatically increasing the efficiency and return on investment for marketing campaigns.

Deep Roster of Advertisers: Bunker Hill Labs brings a portfolio of established clients with whom eLocal can now develop even deeper partnerships, leveraging our combined capabilities to deliver even greater value.

With the combined expertise of both teams, eLocal is well-positioned to deliver even greater value to its clients and help them achieve their growth objectives.

About eLocal

eLocal, a Brookfield company, is a national leader in pay-for-performance digital advertising for home services, legal, medical, insurance, automotive, and more. The company offers a comprehensive suite of services designed to help businesses attract new customers, generate leads, and increase sales. eLocal’s team of experienced marketing professionals works closely with clients to develop and execute customized marketing campaigns that deliver measurable results. For more information, please visit https://www.elocal.com/.

About Bunker Hill Labs

Bunker Hill Labs was a high-growth sales as a service platform, fusing advanced software and techniques to empower B2C businesses in the Legal industry. Their platform combined digital media, marketing technology, and AI/ML tools to shape inventive marketing solutions that propelled customer engagement, conversions, and growth for lead buyers. [Bunker Hill Labs is no longer operational following the acquisition by eLocal.]