Getting personal has worked small wonders for companies working financial services. Banks, advisors, and even accountants tend to work better with clients who actually treat their connection like a real, human relationship.
It’s also been said that the introduction of data technology can only improve those relationships by making it easier to know things about clients and prospects. More data certainly does improve lead generation campaigns and helps you predict buyer behavior.
And yet, is observing behavioral data and tailoring automated marketing responses really the way to communicate? Is it really the sort conversation that nurtures human B2B relationships?
Ideally, many financial organizations and advisers use the latest info on a prospect/customer so that they can find a chance to serve. Sure, there’s a profit motive behind it but the point is it’s not the only intention.
Unfortunately, the electronic nature of simply knowing, analyzing, and sending some sort of automated response puts companies at risk of hollowing out their relationships with customers. True, it may be convenient on both ends for technology to inform one company so to generate an automated response to a client’s.
On the other hand, the convenience becomes more impersonal as the conversation is less dynamic that way. Ironically, one old form of marketing already experienced the ill consequences of automatic response before the big data trend: telemarketing.
Telemarketing has always been on the short end when it comes to either robotic scripts (or just plain old robotic calls). How is it any different when you replace the voice with a generic email copy or some form of automated notification? Real conversation is dynamic, prone to changes in tone, and arguably easier to control.
This brings us to the second irony: Telemarketing does that. The industry just had to make a few mistakes of its own to realize it.
But of course, this still carries other risks. Imagine knowing so much about a prospect but never actually having a conversation. How do you make calls regarding the things you discovered without coming off as overtly creepy or invasive?
The convenience brought by data technology and electronic communication do make a quick work of things. But when it comes to the important conversation between business and customer, there’s more value in being able to just talk.
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