Consider that in 2015 the average in-branch assistance time at a major US bank providing retail checking services was 23 minutes and 16 seconds. Sales and service representatives would build relationships through a series of micro-interactions (asking questions, paying compliments, talking about a financial topic) and adjusting to the customer’s specific needs.
Although banks sit on vast swathes of customer and market data, many marketing departments are too resource-stretched to fully capitalize on it, unable to gain an intimate understanding of the behavior and attributes of each of the microsegments of their customer bases. But the advent of AI is changing the equation, and it’s why we’ve put it at the heart of our marketing optimization platform. Rather than “programming” experiences, marketers now can simply define sanity constraints for programs and then let machine learning platforms “discover” the optimal treatments across channels […]
This article is part of the Marketing Intelligence series from the analysts at Amplero and Marketing Analyzer. To read the full article and receive our fortnightly commentary email Michael.firstname.lastname@example.org.