CPA Growth Trends, Martech

Generative AI: How Accounting Marketers Can Navigate the Opportunity and Obstacles of ChatGPT

Hinge Marketing’s Karl Feldman, Managing Partner, and Austin McNair, Senior Marketing Manager, presented an AAM High webinar on generative AI and “How Accounting Marketers Can Navigate the Opportunity and Obstacles of ChatGPT.” Below is a summary (written mainly by ChatGPT) of the presentation on how accounting marketers can navigate the opportunities and obstacles of ChatGPT.

Generative AI’s Big Moment

Generative AI tools like ChatGPT have gained widespread visibility and understanding this past year. Recent releases have ignited a competitive race for applications and investment. Generative AI applications encompass text-driven models, proprietary systems at large firms, and a wider range of practical applications. News includes updates on ChatGPT Plus, API with fine-tuning, privacy controls, Google and Microsoft integrating AI into workspace tools and Visual AI products from various providers.

Creating content ranked the number one priority (40.6%) from high growth professional services Firms in 2023 when surveyed. Workflow automation, access to datasets, administrative tasks, and repeatable processes can all be optimized. New roles and skill sets, such as prompt and platform engineers and data science experts, can help in implementing generative AI effectively.

Building an Evaluation Process for Your Team

To harness the potential of generative AI, it’s essential to build the right evaluation process and team. This team should be lean, experienced and diverse, with cross-functional roles covering marketing/business development, operational prioritization, IT and technology leadership, legal/compliance and strategic growth. The focus areas for this team should include shortening the research/decision loop, setting consistent goals, engaging diverse perspectives, and achieving a balance of senior career experience and a passion for tech innovation.

Generative AI Obstacles

Generative AI presents challenges related to accuracy and evolving legislation, obscured information supply chains, concerns about Personally Identifiable Information (PII), and potential bias in the generated content. Business model competition and IP considerations are also crucial. The overwhelming digital content landscape is a concern, as trust in online content declines. It’s vital to differentiate content with analytical judgment, emotional intelligence, strategic clarity, and creativity.

Marketing Strategies for the Era of Generative AI

To navigate the generative AI landscape successfully, accounting marketers need to upgrade their infrastructure. Key data on prospects and clients is often siloed across multiple platforms, making marketing and business development attribution difficult. Inconsistent brand representation and a lengthy implementation timeline are common issues.

Transforming marketing and business development infrastructure is essential. An assessment of needed MarTech improvements, including content management systems (CMS), customer relationship management (CRM), automation, and analytics, is necessary. Internal champions or cross-functional teams should be designated to lead these changes. Collaboration with high-quality partners, including legal and cybersecurity due diligence, is vital.

The days of ad hoc marketing are over. Professional services business development and marketing teams are expected to achieve more with fewer resources. Understanding what drives marketing and business development impact is essential.

Higher Relevancy, Higher Quality Marketing Campaigns

To stand out in the era of generative AI, accounting marketers should focus on higher-quality campaigns. This includes custom research reports, live and on-demand webinars, in-person event coordination with online engagement, podcasting, and video content. Higher-quality content enables rapid repurposing.

In order to differentiate, it’s important to give your visible experts a voice. Make it easier for them to contribute by providing AI workflow production and research support and offering training to raise their profiles as industry experts.

Scale-up Human-First Marketing Tactics

Leverage in-person events for networking and speaking engagements, explore guest blogging opportunities, create engaging social media videos, share compelling case stories, and earn awards and certifications. Personalized, organic outreach is crucial in connecting with your target audience.

Differentiation Matters More Than Ever

Quality is paramount, and merely checking the box will not suffice. Expectations for meaningful relevance and differentiated advisory services are higher. Messaging should have a clear point of view aligned with audience issues and business development efforts should apply a unique, personal, and intentional human touch. Visual branding should integrate real and virtual channels, anchored with a differentiated and consistent “fingerprint.”

The Approach for Generative AI Moving Forward

To navigate generative AI effectively, it’s essential to stay informed about developments and identify a team to create safeguards and opportunities for your business. Develop and promote AI policies for responsible use and explore practical applications. Utilize generative AI tools responsibly to increase efficiency, and work with experienced partners who can help accelerate initiatives.

In conclusion, accounting marketers can harness the opportunities presented by generative AI like ChatGPT by addressing obstacles, transforming their marketing strategies, empowering their visible experts, and focusing on differentiation. This will help them thrive in an era where quality, relevance, and human touch are more critical than ever.

About Briana Low

Briana is the Digital Marketing and Content Coordinator at Brown Schultz Sheridan & Fritz. She is responsible for blog content, website updates and handles the Firm's social media accounts. She also has a Digital Marketing Fundamentals Course Certificate from National Association for Accounting Marketing (AAM)

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