April 14, 2024

CPS

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As ad revenue declines, influencers, online marketers will rise in importance, says Classic Home exec

2 min read

HIGH POINT – Traditional ways of advertising and marketing are changing as consumer shopping habits shift and businesses utilize more sophisticated technological applications.

Matt Sorensen, senior vice president of sales for whole home furniture supplier Classic Home, considered the impact of technology on the industry, citing the importance of artificial intelligence, 3D modeling and the shakeup being caused by a decline in ad revenue.

“Some of the latest tech I see getting more prevalent in our business is both generative A.I. and A.I. machine learning,” he said. “I am starting to see more companies work with A.I. to generate ad text and everything from chatbots online to create a sales pitch to the writing of romance copy online.

“Our team has already been working closely with A.I. companies to create a better online experience and help automate the process online,” he continued. “Along with A.I., I feel that 3D modeling of product in a customer’s home will start to help close the loop on returned items. This will give the consumer the feel of the product already in their home through 3D modeling.

“We had a sales call just last week with one that absolutely blew me away with the complexity of how we can now take a picture of an item and place that item in the room, and it is almost 100% identical to what the customer would see in the home.”

Sorensen also talked about a difference in consumer buying habits and how that’s playing out with advertising.

“We have seen shopping patterns change from in-store to a major push online, but now I feel we will start to see influential buying, where you will see designers and influencers tag more companies and work closer with the wholesale market to generate revenue both for the designer and the influencer.

“We see that already with paid ad placement on YouTube and influencers and Instagram,” he continued, “and I think we will start to see it more with TikTok and other social platforms. As ad revenue goes down, I feel there will be a larger importance on brands working with online marketers/influencers.”

How do you think artificial intelligence and other new technologies will affect the furniture industry in 2024? Email me at [email protected].

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