Summary:
The landscape of bank marketing is undergoing a significant transformation due to the introduction of innovative AI tools that can streamline processes and deliver personalized experiences. With the proliferation of AI-powered tools, banks can now leverage these technologies to improve their marketing efforts and stay competitive in an ever-evolving market.
Recently, I had the opportunity to hear Mike Kaput, one of the co-authors of the book Marketing Artificial Intelligence, deliver his keynote presentation on AI marketing trends at our WSI global convention. Not only was it an amazing session that inspired everyone in the room, it inspired me to share some of the new tools that are available (at least at the time of publishing this post) that we’re excited to learn more about and put to use in serving our banking customers. In this blog, we will explore some of the leading AI tools that are shaping the future of bank marketing.
What are AI Tools and Why Are They Important?
First I think it’s important to set the definition so that we’re on the same page. Artificial Intelligence (AI) tools are software and hardware technologies that utilize AI techniques like machine learning and natural language processing to perform tasks typically requiring human intelligence.
These tools are crucial due to their ability to boost productivity by automating repetitive tasks, making informed decisions through data analysis, minimizing errors, providing personalized user experiences, scaling operations, and predicting future trends. As AI tools evolve, their significance in various industries grows, although ethical considerations such as privacy, bias, and job impact must be addressed. The following are AI tools based on a number of popular marketing categories:
AI Chatbot Tools
- ChatSpot (ChatGPT and HubSpot): ChatSpot combines the power of ChatGPT and the popular marketing automation platform HubSpot, to create a smart and efficient chatbot that enhances customer interaction and support. This powerful combination allows for seamless integration with existing marketing platforms while providing a highly personalized customer experience.
- Einstein GPT (Salesforce and ChatGPT): By integrating ChatGPT with Salesforce, Einstein GPT helps banks using their CRM create intelligent chatbots that can handle complex customer queries and streamline sales and support processes. This dynamic duo improves customer engagement and satisfaction, driving better results for bank marketing campaigns.
AI Writing and Content Creation Tools
- Copilot (Microsoft and ChatGPT/AI): Copilot is an AI-powered writing assistant designed by Microsoft in collaboration with ChatGPT and is being integrated into their popular Office365 productivity suite. This tool aids bank marketers in creating engaging content with ease and efficiency, ensuring a consistent brand voice across all marketing materials. It’s showing amazing capabilities that tie directly into Word for copywriting, Excel for data analysis and insights, and PowerPoint for presentations.
- HyperWriteand WRITER: Both these AI tools analyze and emulate your writing style, creating content that sounds like you as the AI gets smarter over time. They can help bank marketers maintain a consistent tone and messaging across all content, providing a cohesive brand experience for customers.
Ad Personalization and Advertising AI Tools
- Persado: Persado utilizes prediction AI technology to generate highly personalized and effective ad campaigns. By analyzing vast amounts of data, Persado can identify the best combination of messaging, images, and layouts to drive customer engagement.
- AIAdvertising and Celtra: These AI-powered advertising platforms enable bank marketers to create highly targeted and effective ad campaigns. By utilizing advanced algorithms, these tools optimize ad placements, budgets, and creative elements for maximum impact.
SEO AI Tools
- MarketMuse, Demandwell, and Frase: These AI-driven SEO tools can help bank marketers optimize their content for search engines. By analyzing keywords, competition, and content quality, these tools provide actionable insights to improve search rankings and drive organic traffic.
One exciting convention nugget you may find interesting is that a production partner of ours who we work with on SEO projects has already started using AI in best identifying SEO opportunities, trends, and the next-best-effort thanks to insights revealed through these (and other) platforms.
Email AI Tools
- Rasa, Seventh Sense, and Phrasee: These AI-powered email marketing tools enable banks to create highly personalized and relevant email campaigns. By analyzing customer data and behavior such as opens, clicks, and other engagement signals, these tools tailor content, subject lines, and send times for optimal open and click-through rates.
Social Media AI Tools
- Lately, Linkfluence, and Smart Moderation: These AI tools assist bank marketers in managing their social media presence. They analyze trends, monitor brand sentiment, and can even provide automated content moderation to ensure a positive and engaging social media experience for customers and those following your bank online.
Website AI Tools
- Durable to Create A Website: Technology may still be a ways away from being able to build out a comprehensive bank website (like the ones you’ll find built by us here at WSI), but this innovative AI tool allows bank marketers to create a slick-looking, basic website based on a few inputs and design selections. By intelligently interpreting the design, the platform generates fully functional and aesthetically pleasing websites that cater to your marketing needs.
Don’t Forget the Human Element
The adoption of AI tools in bank marketing is becoming increasingly critical as customers expect more personalized experiences and efficient services. While there will continue to be a multitude of tools to pick from as technology continues to evolve, it’s important that you don’t lose sight of the fact that they are just that - tools.
As is the case for a carpenter or artist, the hammer or paintbrush will help get the job done, but it’s the personal, human touch that will ensure your work of art will have your bank’s voice and personality. This is critical, especially for community banks, as you don’t want sterile, robot-generated content to take the place of the real story behind your bank and its efforts.
The AI tools discussed in this blog post are just the tip of the iceberg, with more innovation expected in the coming years. Embracing these tools will not only enhance the customer experience but also ensure that banks remain competitive in the rapidly evolving digital landscape.
It’s Your Move!
If you have any questions about AI, the tools that are available, or AI strategies to get the most out of this constantly evolving technology, we are here to help! Feel free to contact us today. And don’t forget to download the latest edition of our ChatGPT eBook, now in its second edition!