How Your Business Can Stay Relevant in an AI-Run World (From Greg Isenberg's YouTube Video)
Mar 16, 2024
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Discussion on pay-for-performance agencies and AI agents in customer service. Opportunities in finance and hospitality. Role of smart contracts in marketing. Gamification in various aspects of life. Importance of focus for agency businesses.
Businesses can benefit from pay-for-performance agencies by focusing on delivering results based on performance metrics rather than fixed fees, incentivizing marketers to concentrate on tangible outcomes and potential advancements like smart contracts.
Integration of AI agents in customer service is transforming interactions with customers, handling tasks like scheduling calls, managing inquiries, and closing deals, leading to improved efficiency, cost savings, and enhanced service quality across different industries.
Deep dives
The Emerging Trend of Pay for Performance Agencies
Pay for performance agencies are gaining significant traction as businesses look for innovative ways to minimize risk and maximize results. These agencies focus on delivering results based on performance metrics rather than traditional fixed fees. For example, a finance industry-focused agency excels in pay-per-click advertising, offering customers a low-risk entry with no long-term commitment. This model incentivizes marketers to focus on delivering tangible results and allows for potential future advancements such as smart contracts.
Revolutionizing Customer Service with AI Agents
The integration of AI agents in customer service is revolutionizing how businesses interact with customers. These agents can handle various tasks like scheduling calls, managing inquiries, and even closing deals, leading to improved efficiency and customer satisfaction. Companies like Klarna have seen significant benefits from leveraging AI agents, saving millions in costs while enhancing service speed and quality. The potential for AI agents extends beyond customer service to other industries, presenting a lucrative opportunity for innovation and growth.
Innovating Gamification for Improved Health and Wellness
Gamifying everyday tasks and habits is becoming a popular approach to enhance engagement and motivation, particularly in health and wellness sectors. By introducing incentives and rewards, such as tracking sleep patterns or encouraging specific behaviors like teeth grinding prevention, individuals can stay more engaged and motivated to make positive lifestyle changes. Leveraging this gamification strategy in areas like dental care and sleep improvement can lead to increased user participation and better health outcomes.
Eric Siu and Greg Isenberg discuss various business ideas, including the concept of pay-for-performance agencies and the potential for AI agents in customer service. They explore opportunities in different industries, such as finance and hospitality, where pay-for-performance models can thrive. Additionally, they delve into the role of smart contracts in marketing and the potential for gamification in various aspects of life. The conversation highlights the importance of focus and the potential for agency businesses to generate significant profits.
TIME-STAMPED SHOW NOTES:
(00:01) Pay for performance agency business model
(02:04) Potential industries for pay for performance
(03:41) AI agents for customer service
(06:09) Using AI agents to close deals and capture more value
(08:03) Pay per performance conversion rate optimization agency
(09:01) The role of smart contracts in marketing
(10:04) Speculation and trust in smart contracts
(12:07) Gamifying tasks and rewards
(13:09) Gamifying household chores and incentives
(13:42) The potential for building gamification platforms
(14:13) Early adoption of spatial computing
(15:31) The importance of taste in product design
(16:01) Challenges with longevity practitioners and supplements
(16:55) The growing interest in sleep and health
(17:41) Accessibility of health experts and AI assistance
(18:08) Greg Isenberg shares his idea for a less annoying nightguard that also whitens teeth.
(19:06) Discussion about using mouth tape to force breathing through the nose while wearing a nightguard.
(20:05) Conversation about creating anti-sweat slippers using bamboo materials.
(21:30) Idea for creating community-focused organizations similar to EO and YPO.
(22:35) Discussion on the potential of agency businesses and building generational wealth.
(24:18) Greg Isenberg and Eric Siu discuss the benefits of focusing on agency businesses.
(25:32) Opportunities in AI transformation agencies, programmatic SEO, and creative agencies.