2018: The ‘Year of AI and Machine Learning’ for financial marketers
Financial marketers must understand the latest artificial intelligence and machine-learning marketing applications to succeed. Not only do consumers expect a new level of personalized communication and engagement, but revenue and cost pressures require a more efficient marketing mix with improved results.
The people who have selected your organization as their primary financial institution, or are considering doing so, see more offers and content in a day than ever before. They see marketing messages everywhere they look and on every channel they engage with. Making matters worse, the vast majority of these consumers engage with one of your well-trained customer service representatives less than they ever have in the past. Bottom line, financial marketers have their work cut out for them.
The only viable and potentially scalable solution is content that is so personalized and relevant that it’s impossible to ignore. We need to look for ways to communicate to an ‘audience of one,’ using artificial intelligent (AI) systems that constantly work in the background to enhance every step of the customer journey. We need to leverage new tools that were previously only available to the very largest companies with huge support staffs.
True personalization at scale requires advanced analytics, which is why banks and credit unions of all sizes are using AI and machine learning to customize all components of the marketing mix. Your marketing team can no longer postpone using AI-powered solutions in your content development, offer selection, segmentation and targeting, website integration, customer service/support, product pricing and churn management.
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