Business Blog: ChatGPT Goes Mini, Canva's New Rival, Prompt for Persona Mapping, and more!

Hi, GrowthHackers!

Welcome to this week's GrowthHackers Newsletter! Scroll down to see how American Express is using nurturing to increase long-term growth, a simple marketing prompt for Persona Mapping, and learn about Meta expanding overlay adds to Instagram Reels. All that and more!

Also in this edition:

Upcoming Event: The Marketer AI Tool Stack
Meet GPT-4o Mini
Microsoft's Canva Rival
New Standards in Digital Advertising, Allison AI
Nurturing Customer Relationships with American Express
Forum Q&A
Prompt of the Week: Persona Mapping
Editor Picks

UPCOMING EVENT

Webinar: The Marketer's AI Tool Stack

Ready to build a more effective marketing engine with AI?

Next Tuesday we will be hosting a free session led by Chris Daigle, the CEO at ChefAI Officer.

🔗 Register Now!

WHAT'S NEW?

OpenAI Unveils GPT-4o Mini, a Smaller and Cheaper AI Model

#AI #ProductDevelopment

OpenAI has launched GPT-4o Mini, a new, smaller, and more affordable AI model available to developers and consumers starting today, with enterprise access coming next week. GPT-4o Mini, which replaces GPT-3.5 Turbo as OpenAI's smallest model, excels in reasoning tasks involving text and vision and is over 60% cheaper to run, making it an efficient option for high-volume, simple tasks. Read more

Microsoft's Canva Rival Lands on Mobile: Designer App Now on iOS & Android

#AI #Design

Microsoft's AI-powered design app, Designer (think Canva competitor), is now available on iOS and Android! This mobile app allows users to create and edit images using AI, along with offering pre-designed templates and design assistance. Look out for features like generating images from text descriptions and integrating with Bing and Microsoft Edge. Read more

Allison AI: Setting New Standards in Digital Advertising

#AI #Ads #Tool

Alison.ai is transforming digital advertising. By merging AI with creativity, it optimizes ad performance, saves marketers time, and provides actionable insights. This platform empowers marketers to focus on creating compelling content while AI handles the data-driven optimization. Read more

American Express: Nurturing Customer Relationships

#AI #Ads #Tool

American Express is prioritizing personalized customer experiences across all touchpoints. They are using AI to identify customer sentiment and create personalized content. The result is a seamless omnichannel engagement engine, that builds emotional connections and strengthens customer loyalty for long-term business success. Read more

Quick Updates

Google launching a Gemini powered presentation video maker. Read more

TikTok announced a new Eventbrite integration. Read more

Pinterest outlined AI background generation grocess for product shots. Read more

Meta expands overlay ads to Instagram Reels. Read more

Insights

💡Only 7% use AI in marketing. Read more

💡 How to use AI to uncover customer LTV. Read more

💡 How AI is shaping the digital marketing landscape in 2024. Read more

FORUM

❓Question: "Some SMBs, B2B companies and early stage startups want to adopt Growth, but simple they don't have enough users or traffic to run experiments with validity. How to overcome that situation? Is it Growth not applicable at all for them?"

❗Answer: I would recommend meeting your potential customers face to face at an event. Nothing is better than a conversation with your audience. Done effectively, the feedback can help carve out your growth strategy. Find where the fish are, go fishing.

🔗 Join Discussion

Got a question for our community? 👉 Ask Now!

MEMBER POSTS

How to A/B Test Shopify Pricing (For Free)

Shared by Donald Ng

Look, I get it. Messing with your prices feels risky. What if you scare off customers? What if you leave money on the table? That's why we're not going in blind. We're going to use the power of A/B testing to find that pricing sweet spot.

🔗 Read Post

Basic Guide to Improving Product Quality With LLM

Shared by Oleg Yakubenkov

Large Language Models (LLMs) can effectively automate tasks in product development, saving both business costs and employees' time. However, implementing these tools doesn't guarantee immediate quality results, so knowing how to enhance their performance is important.

In this article, we will explore basic approaches for improving features and entire products that use large language models.

🔗 Read Post

PROMPT OF THE WEEK

Messaging & Targeting: Develop a Persona Map

Prompt: "I am [marketing title] for [Company URL], and would like some help creating some persona maps for our [product or service]. Please include all pertinent demographics, psychographics, and available trends"