It’s a fair question. Artificial intelligence feels like a buzzword, and committing budget to something you’re not entirely sure about is daunting, especially for Australian small and medium enterprises. The good news is, you don’t need a massive investment to begin exploring the potential of AI for growth. We’re seeing a shift from expensive, complex implementations to accessible, practical tools that deliver genuine return on investment.

The key is to think of your initial AI spend not as a technology cost, but as an investment in learning and experimentation. Forget about building bespoke AI solutions right now. Instead, focus on integrating readily available AI-powered features into your existing marketing stack. This ‘bolt-on’ approach is far more manageable and allows you to see tangible results quickly.

Here’s how we advise SMEs to approach budgeting:

• Start with 5-10% of your existing marketing budget: This is a realistic range for initial exploration. If your current marketing spend is $20,000 a month, allocate $1,000 – $2,000 to AI tools and testing.
• Prioritise quick wins: Look for AI features within tools you already use. Many email marketing platforms now offer AI-powered subject line optimisation, for example. Social media scheduling tools are integrating AI for content suggestions. These are low-risk, high-reward starting points.
• Focus on automation: AI excels at automating repetitive tasks. Consider AI-powered chatbots for customer service, or tools that automate aspects of your lead qualification process. Time saved translates directly into increased productivity and reduced costs.
• Measure everything: Don’t just implement AI for the sake of it. Track key metrics – conversion rates, lead quality, customer engagement – to determine what’s working and what isn’t. This data will inform future investment decisions.

Don’t fall into the trap of thinking you need to understand the underlying algorithms. Your focus should be on the outcomes. Are these tools helping you generate more leads, improve customer satisfaction, or increase sales? That’s what matters. As you become more comfortable and see positive results, you can gradually increase your investment and explore more advanced applications. The next step is to identify one specific marketing challenge – perhaps lead generation or content creation – and research AI tools designed to address it.