Marketing Landscape: People Vis-a Vis Technology

CMOs of BFSI companies discuss the changing role of technology in marketing:

In these times of intelligent banking, BFSI companies are making use of AI and autonomous solutions to grow revenue and margins, even while using the most effective channels. Leveraging their data, they hyper-personalize communications and systematically maximize sales conversion. Chief marketing officers in these firms are also using predictive lead scoring, deploying real-time trigger campaigns to deliver dynamic content at every phase of the consumer journey. Proliferation of online and social media channels has made marketing content richer and engaging. All these have dramatically changed the job and skill profile for marketing employees.

BIG DATA, CHATBOT

Technology is enabling functions like precise profiling of consumers. Pankaj Gulati, chief people officer at Fincare Small Finance Bank, says using of big data has revolutionized data collection. It has also made targeted and personalized campaigns a reality. “Beacons and chatbots deployed in-store to answer customer queries look for products and make recommendations,” says he.

According to Rohan Kumar, CEO at Toffee Insurance, automation across market intelligence, data analytics, on-ground activation and campaign management over time will replace human marketers. Says he: “Market intelligence and data analytics tools facilitate active listening and predicting consumer behavior, which is critical for making marketing and communication decisions in any corporate. Tech- enabled point of sale displays can be controlled centrally, and this will indeed reduce the need for human interventions at ground level. Personalized advertising and engagement can be efficiently run through these devices. Automated schedulers can run campaigns across various digital outlets and optimize spend in real time.”

AI & ML TO REPLACE MARKETERS