Klarna cuts spend while driving marketing activity
Klarna has leveraged generative AI to increase its website and in-app image production capabilities for key retail events.
The fintech firm has simultaneously cut its sales and marketing spend by 11%, the company said in a statement.
David Sandström, chief marketing officer at Klarna, said the company is saving tens of millions of dollars by decreasing image production costs and utilising martech tools.
“Traditionally, it would have been very costly to cater to these occasions with bespoke imagery but with AI that is no longer an issue and we can create relevant imagery to support practically any event. Essentially, we have removed the need for stock imagery,” said Sandström.
Artificial intelligence is responsible for 37% of the cut in spend, equating to around $10mn on an annual basis.
“AI is helping us become leaner, faster and more responsive to what our customers care about, leading to a much, much better experience,” Sandström added.
Klarna has generated over 1,000 images since the start of 2024 by reducing the image development cycle from six weeks to seven days, building in time for brand consistency, image quality, and legal compliance.