Klarna, the fintech company known for its “Buy now, Pay later” service, has leveraged AI to achieve significant marketing cost savings. Amounting to roughly 37% annually, or about $10 million.
How they did it:
By creating its marketing visuals using AI tools such as Firefly, Midjourney, and DALL-E., Klarna decreased its spending on external suppliers by 25%.
Klarna's CEO, Sebastian Siemiatkowski, says the reduced reliance on external suppliers has allowed their marketing team to work more efficiently.
Additionally, Klarna's CMO, David Sandstrom, mentioned that AI is integrated throughout their marketing processes, from ideation to creation. The company is now investing more in traditional media channels like TV, print, and digital video, aiming to maximize the impact of its AI-enhanced marketing spend.