In the era of the digital world, mobile and social media have become major channels for marketing. A fundamental difference with the digital era from the pre-Internet era is the concept of personal space. Mobile phone users consider their device to be their personal space and are not keen on intrusions into this space which are not relevant.
Furthermore, this digital era is one of big data. With social media, mobile and internet activities continuously generating a huge amount of data, marketers have access to insights in different forms, coming from different sources and generated at different velocities.
In this digital era, financial marketers who will be successful are those who leverage big data analytics including Machine Learning and AI to understand the needs of consumers to provide a personalized experience through targeted communication that is delivered in real-time based on needs. This is the era of hyper-personalization at scale.
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