If you’ve ever visited a website and been greeted by a chatbot, you’ve encountered an example of leveraging conversational marketing. New technologies can transform how you communicate with your customers or members, and the use of conversational artificial intelligence (AI) fosters two-way communication that increases engagement in real-time.
Below we’ll dive into the definition of conversational marketing and its best uses within your institution.
What is Conversational Marketing?
Conversational marketing involves real-time communication with people who visit your website or social media channels. Rather than having them wait days for an email reply or spend an hour on hold, financial institutions can use live chat features so that your consumers get their needs fulfilled quickly. With expectations set by other fast-paced businesses, people today expect quick and responsive interactions online.
Top Benefits of Conversational Marketing
Modern technology frees up your employees’ time and can help answer questions and facilitate conversations in an efficient way. Many businesses in different industries utilize live voice, text, and AI aspects of conversational marketing to communicate efficiently. It’s also mutually beneficial to your FI and consumers.
Members and customers receive a smoother experience, personalized interactions, and a quicker response rate when they visit you online. Even if they may need to eventually connect with someone at your FI, they can get through preliminary conversations with AI to set them on the right path and give your employees the information they need before helping the customer/member. If their question is an easy fix, then your conversational tools can help without using any of your employees’ valuable time.
Conversational marketing offers many benefits for your financial institution, but some of the main advantages include improved lead generation and faster movement through your sales funnel. If a qualified lead or new consumer needs to speak with someone live, they can be prioritized and connected to someone that will help with their particular pain point or need. In addition, for each interaction that your chatbot or AI is involved with, you gain valuable data on how to improve your consumer experience in an organized way.
Conversational marketing helps financial institutions of all sizes make better connections with their consumers. Each interaction they have with your FI is important and can affect your future relationship, so any improvement you can make will have a lasting impact. For more of Prisma’s helpful marketing tips and strategies, visit our blog posts.
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