Why AI Personalization Is Key to FinTech Marketing Success?
Its all about Understanding how your audience behaves online with respect to your products and services. Its critical to marketing campaigns that drive high conversion rates and revenues. But FinTech companies relying on substandard marketing data from the past or even the present may be putting their future at risk. Younger generations — both millennials and Gen Z — require a different approach, which is why AI personalization is so important.
Technology Is Changing the Consumer
From banking to insurance, financial companies are already seeing a change in their consumer base. The youngest customers don’t even remember a time when cell phones didn’t have cameras, and the need for high-tech solutions such as mobile deposit and text-based banking is growing.
The new generation of consumers wants:
- Fast, friendly, accurate service that is also a deal (though they’re willing to pay for quality)
- Personalized service and recommendations that come from aggregate data (a la Spotify’s ability to load up a playlist of all the right music based on a user’s profile and previous listening history)
- Honesty and transparency from the first touch point
- A real relationship with the companies they deal with
FinTech companies marketing directly to younger generations have to be able to source increasing amounts of data and turn that raw information into actionable decisions that support organic engagement, loyalty, trust and personalized service that handles customers’ needs almost before they know they have them. Those are impossible goals to achieve without smart solutions like artificial intelligence.
AI Personalization in Marketing
All these goals are inherent in every aspect of your business, including the marketing funnels. AI personalization helps you cater to existing customers as well as promote goods and services in the most targeted, appropriate way to each consumer who comes in contact with your brand.
By starting the relationship out on an individual level — even in the context of a large marketing campaign — you set yourself up for success in working with newer generations.
For more information about AI personalization and other technical solutions to help you reach your audience, contact us today.