It is safe to say that 2020 was a year like no other. The Pandemic’s eruption and the economic ramifications will send tremors well through 2021 and beyond, and marketers should be ready to deal with them. Covid-19 has challenged all pre-existing rules and practices pertaining to customer behaviors and interests, and the rapid shift in technologies and innovations has only made the latter harder to predict. What marketers already know is that there is no way back to the old normal.
Marketing for Banks and Financial institutions is not exempt from these challenges. Nowadays, a variety of factors could hinder the creation of seamless customer journey. Banks are not just what they offer but how they offer it.
Once Artificial intelligence, Machine Learning, Biometric authentication, and Big Data were all just ideas ridiculed with no hope in seeing the day of light. Today, these innovations are a priority for marketers eager to help their business not only survive but also thrive in the digital age. But despite all these amenities, most Banks’ marketing departments are still falling short!
In addition, the loyalty landscape has changed drastically over the past decade and especially in the last year. In today’s high-tech increasingly competitive and consumer-led environment, customers are not hesitant to go and look for alternatives when their experience fails to meet their expectations. In this case, a “human seeming online banking experience”.
Adding to the mix the five distinct generations currently active as market participants, decision makers and consumers each possessing different traits, beliefs and values.How can banks utilize innovative technologies to deliver well-tailored campaigns over a variety of platforms, able to retain old clients while attracting new ones?
All these topics and more will be discussed at “Stand-Out Banking” Webinar organized by the UAE Banks Federation and Al-Iktissad Wal-Aamal, on the 12th of October 2021.