satyamkapoor

I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...

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I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.

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Five ways in which Marketers can use Artificial Intelligence

By satyamkapoor |Email | Jan 19, 2018 | 4257 Views

When most of us hear the words artificial intelligence, we immediately tend to think about movies like Terminator, I, Robot & others with robot humans taking over the world. AI is rarely presented as the good guy. But how do we make use of AI to our advantage? Here are few steps that marketers can leverage in order to make their work more effective and suited for their audience.

Use chatbots to your advantage.
Chatbots are a wonderful way for clients to begin their online journey by being assisted by a AI assistant. There are many times when I have been up late at night trying to get something done online and just wanted answers to some basic questions. Chatbots can help answer such queries regardless of the time zone. 
Starbucks recently launched a chatbot to help customers customize their online orders. While the coffee industry is different from wealth management, this is just one example of the countless ways to streamline client experience. Think about the experience your clients are getting from their barista and translate that over to their investments.

Employ AI to customize client communications.

Clients expect to have things explained to them in a language they understand and expect information to be accessed immediately, especially concerning something as critical as their investment performance. According to Narrative Science, a leader in natural language generation technology and a partner of F2 Strategy, "Artificial intelligence now makes it possible for organizations to craft personalized, automated communications at scale - exactly what firms need to deliver the cost-effective, high-quality personalized services their customers are seeking." Look for ways to streamline and scale targeted content customized for each client in order to grow the relationship they have with you.

Compliance can be the easiest part of your job.

Don't believe me? What can sometimes be the most daunting part of any marketer's job can now be seamless and pain-free for both parties. AI is controlled by machine-generated outputs that can be automated to align with any existing validation requirements from your compliance and regulatory departments. Once these requirements are inputted correctly, an automated paper trail can be filed and recorded for any future audit needs.

Marketing is all about the data and lead gen.

One of the biggest asks of wealth management marketing projects is the ability to translate activities into solid lead generators or media opportunities. Artificial intelligence offers an automated way for the technology, such as Google Trends or Hootsuite, to analyze data and instantaneously identify opportunities and media targets.

Personalize your client online portal experience.

If you personalize the online experience for your clients, this can have a huge impact on the acquisition and retention rates. Evergage conducted their 2017 Real-Time Personalization Survey and found that 33% marketers surveyed use AI for delivering personalized experiences. The results speak for themselves. 63% of respondents noted an increase in conversion rates and 61% cited improved customer experiences. Marketers will still need digital teams and web designers but AI can help offer a level of personalization that will the users engaged and hooked.

AI is not just for the movies to depict and sell their business. AI is something that marketers can use to customize and curate content for their clients in a scalable way

Source: HOB