An influx of new competitors has made leads more valuable than ever in the banking and finance industry. This has made lead nurturing a pivotal step in acquiring customers. But changing customer preferences are making the process challenging for financial institutions. The modern customer prefers convenient and flexible communication with businesses. This has resulted in financial institutions diverting investments in SMS campaigns. But the channel allows only one-way communication in India. Due to this, financial institutions are struggling to engage leads Besides this, the lack of personalization in these campaigns is failing to capture prospect attention. Thereby, financial institutions are suffering to improve lead conversion rates.
Meera conversational AI offers an effective solution to the problem. The insurance AI assistant enables banks to improve the efficacy of their SMS campaigns. It does so by reaching out to leads using personalized messages. The AI assistant uses the messages to redirect leads to WhatsApp and open a two-way communication channel. Following this, Meera warms up leads for calls with sales teams. Using the process, the AI assistant brings high-intent inbound opportunities to financial institutions.