AkBank's Proactive Assistant leveraged artificial intelligence (AI) to make tailored recommendations of financial services.
Objective
The strategic goal of AkBank's project was to identify the needs of customers before they came to the bank and communicate proactively to offer personalized financial solutions to those customers. AkBank aimed to transform the traditional banking experience by communicating with customers through a conversational sales method.
AkBank's key performance areas focused on increased user engagement, sales growth, and improved customer satisfaction.
AkBank's ultimate goal was to improve the customer experience by offering tailor-made financial solutions to its customers and to increase sales with personalized recommendations, thanks to the predictive algorithms developed using bank data.
AkBank measured its success in meeting these goals using metrics such as sales figures, engagement with product offerings, conversion rates, revenue, user feedback, and Net Promoter Score (NPS) surveys.
Context
The traditional banking model often presented challenges, including impersonal product offerings and complex purchase processes. AkBank's effort addressed these issues by utilizing AI algorithms to provide tailored financial solutions.
The Proactive Assistant bridged the gap between customer needs and available products, simplifying the decision-making process. This innovation not only improved customer satisfaction but also boosted sales, aligning with AkBank's strategic objectives to enhance engagement and achieve sales growth.
Target Audience
AkBank's target audience consisted of tech-savvy customers looking for affordable and personalized financial solutions. These individuals value digital innovation and are curious about private banking.
AkBank's successful integration of chatbot technology into its marketing strategy allowed it to offer personalized product recommendations based on users' financial behaviors and preferences.
The campaign stood out for its creative and innovative use of media, engaging customers in a conversational manner.
The Proactive Assistant technology provided a competitive advantage, enabling AkBank to collect real-time data and offer hyper-targeted recommendations. The bank tailored the Proactive Assistant's responses and recommendations to different markets and demographics, ensuring relevance and enhancing the overall customer journey. Technology played a crucial role in automating and streamlining customer interactions, improving the Proactive Assistant's capabilities over time. The integration of the Proactive Assistant's technology effectively personalized customer experiences, fostered trust in AkBank's brand, and contributed to the campaign's success.
Before the implementation of this project, AkBank's financial services primarily focused on offering products without deeply understanding customers' needs. The market was characterized by traditional sales approaches and limited personalization, leading to customer indecision and suboptimal sales performance. The absence of tailored solutions resulted in reduced customer satisfaction and hindered growth potential within the competitive financial services landscape.
The campaign's success not only met the initial objectives but has also laid the foundation for continued growth, transforming the brand's sales approach, enhancing user experience, and increasing customer loyalty. The utilization of AI-driven insights and personalized recommendations has positioned the brand as a trusted financial partner, leading to heightened customer engagement and conversion rates.
More specifically, as a result of this effort, AkBank increased sales by 23 percent.
