Using GenAI for Strategy Practice
One of the prompts that is most overwhelming for some people preparing for Google is Strategy.
The top types of strategy prompts are:
Should X do Y? (~30%)
How would you approach X? (~25%)
General Speculation on Trends and/or Landscape (~20%)
Speculation on the Past: Why did X do Y? (15%)
Go-To-Market (GTM) Strategy (7%)
Pricing Decisions (~3%)
To get a complete list with real world examples, read more here.
Today, I started playing around with using ChatGPT to help me explore and think about broad strategic prompts.
WARNING: I HIGHLY recommend trying to answer the prompt on your own BEFORE checking with a chatbot. You need to think on your own. And the chatbot isn’t always right, but it will give you nice thoughts to unblock you and allow you to debate. Challenge yourself to question what it gives you. The structure in the answer below is NOT what I would use in a live case, I would have a totally different delivery, but it was nice to compare what I said with what it said.
Take for example:
What is your strategic analysis of mobile messaging market today?
I gave Gemini this prompt:
Analyze the current state of mobile messaging and its trends, challenges, and opportunities, including relevant data and statistics. Provide a list of key players and a short and long-term industry forecast, and explain any potential impact of current events or future developments.
Google Gemini’s Answer:
Mobile Messaging in 2024: Trends, Challenges, and Opportunities
Mobile messaging remains a dominant force in communication, with billions of messages exchanged daily. Here's a breakdown of the current landscape:
Trends:
SMS Resilience: Despite the rise of messaging apps, SMS (text messaging) is experiencing a resurgence. It boasts high open rates (over 90%) and faster response times (within minutes) compared to email [Intradyn]. Businesses leverage SMS for marketing (69% of consumers prefer texts over calls [Messente]) and customer service (generating high response rates).
App Diversification: While WhatsApp reigns supreme in many regions, brands are exploring a wider range of messaging apps to connect with customers on their preferred platforms [Infobip]. This caters to regional variations and specific functionalities offered by different apps.
Personalization Boom: Consumers expect tailored experiences, and mobile messaging is no exception. Businesses are utilizing data to personalize messages, leading to higher engagement and conversion rates [Customer.io].
Omnichannel Integration: Email marketing strategies are shifting towards mobile-first approaches, with SMS acting as a complementary channel for time-sensitive updates and confirmations [Customer.io].
Security Concerns: With rising spam and smishing (SMS phishing) attempts, stricter regulations are anticipated to protect user privacy and data [ClickSend Blog].
Challenges:
App Fatigue: Users juggle multiple messaging apps, leading to app fatigue and potentially missed messages.
Data Privacy: Balancing personalization with user privacy is an ongoing challenge. Businesses need to be transparent about data collection and usage.
Security Threats: Continued vigilance is required to combat spam, smishing, and other malicious activities.
Opportunities:
Rich Communication Services (RCS): With Apple potentially adopting RCS, this feature-rich messaging standard could revolutionize SMS, enabling features like file sharing and improved chat experiences [Infobip].
Conversational Commerce: Chatbots and AI-powered assistants can streamline customer interactions and sales within messaging platforms.
Key Players:
WhatsApp
Facebook Messenger
WeChat (dominant in China)
Apple iMessage
SMS Carriers (e.g., Verizon, AT&T)
Industry Forecast:
Short-Term: Messaging app usage will continue to rise, with a focus on personalization, omnichannel integration, and security enhancements. RCS adoption has the potential to significantly impact the SMS landscape.
Long-Term: Mobile messaging will likely become even more embedded in our daily lives, potentially blurring the lines between social interaction, business communication, and shopping experiences. Advancements in AI could further personalize messaging experiences and automate tasks.
Impact of Current Events & Future Developments:
Increased regulations due to privacy concerns could impact data collection practices within messaging apps.
The rise of the "Metaverse" and virtual worlds could lead to the integration of mobile messaging with these new interactive platforms.
Overall, mobile messaging is a dynamic and ever-evolving space. Businesses that adapt to these trends and leverage the power of personalization will be well-positioned to connect and engage with their customers effectively.
Practice on your own. Try answering strategy prompts and then sense check it with a GenAI chatbot.
