ChatGPT Ads just launched. The CMO playbook for the new top-of-funnel channel.

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Welcome to the 221st edition of The Growth Elements Newsletter. Every Monday and sometimes on Thursday, I write an essay on growth metrics & experiments and business case studies.

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OpenAI opened ChatGPT Ads to advertisers in 2026. Most CMOs have not allocated a single dollar to it yet.

The CMOs who do this quarter will own their category by Q1 2027. Everyone else will pay retail for what is now an arbitrage.

[1] What happened

OpenAI launched ChatGPT Ads with three formats.

• Sponsored answers inside chat responses.

• Brand placements adjacent to AI-generated recommendations.

• Integration with ChatGPT shopping flows and Operator agent purchase paths. Open to brands as of Q2 2026.

Early advertiser data is striking.

• CPMs are landing in the $4 to $8 range.

• CTR are running 5 to 10 times display ad averages.

• Conversion rates are tracking with Google Search in 2003.

ChatGPT has crossed 500 million weekly active users and is growing. Supply is undersold. Demand is barely formed.

This is the first new top-of-funnel paid surface since TikTok Ads launched in 2019.

[2] Why it matters

Every new ad platform has a 12 to 18 month arbitrage window.

• Google AdWords in 2002 to 2004.

• Facebook Ads in 2007 to 2009.

• TikTok Ads in 2019 to 2021.

Brands that tested early bought attention at a fraction of mature pricing and locked in category position before competitors caught up.

ChatGPT Ads has the same pattern with a sharper asymmetry. AI Mode is becoming the primary buyer research surface across B2B and B2C. Ad inventory follows attention.

The CMOs putting 5 to 10% of paid budget into ChatGPT Ads now will be the case studies in 2027 conference decks.

The cost of waiting is not a missed test. It is the loss of category position when supply gets priced rationally.

[3] What you do about it

Allocate 5 to 10% of next quarter's paid budget to ChatGPT Ads testing. Pull it from paid social, where ROAS is already softening.

Place ChatGPT Ads at the top and middle of your funnel. Top funnel is sponsored answers and brand placements driving discovery. Middle funnel is product placements in comparison flows and AI-generated recommendations driving consideration. Do not use it for bottom-of-funnel intent capture yet. The model has not stabilized for that.

Brief creative for a conversational surface, not a display one. The ad needs to make sense inside an answer, not interrupt it. Keep messaging declarative, specific, and outcome-led.

Build multi-touch attribution that captures AI surface assists. The first touch is increasingly a ChatGPT mention. Your current attribution model probably ignores it.

Final Words

[1] Pilot ChatGPT Ads with a defined test budget of 5 to 10% of paid this quarter. Pull from paid social, not from brand.

[2] Brief creative specifically for conversational AI surfaces. Test sponsored answers first, then brand placements, then shopping integrations.

[3] Update your attribution model to track AI surface assists. If your dashboard does not show ChatGPT-influenced conversions in 90 days, your model is broken.

That's it for today's article! I hope you found this essay insightful.

Wishing you a productive week ahead!

I always appreciate you reading.

Thanks,
Chintankumar Maisuria