This is an exclusive series for Swoboda Members, offering marketing guidance for credit unions fromSwoboda Corporate Member AsOne Digital Business Development, based in Manchester and London. There are more Unboxed articles here. If you have any feedback on the series, please let us know nick.money@swobodacentre.org.

Here is a jargon buster in case any of the terms used are new to you.

In today’s ever-evolving digital landscape, credit unions face a myriad of challenges when it comes to reaching and engaging with their members effectively. With consumers being bombarded with information from various channels, standing out amidst the noise can seem like an insurmountable task. However, with the emergence of generative AI technology, a new realm of possibilities has opened up for crafting compelling multi-channel marketing campaigns that resonate with your target audience like never before.

At AsOne, we understand the unique needs and challenges that credit unions face in their marketing efforts. That’s why we’re here to guide you through the process of planning and executing a successful multi-channel marketing campaign using generative AI.

Understanding Generative AI

Generative AI, also known as generative adversarial networks (GANs), is a subset of artificial intelligence that involves training a model to generate new data that is similar to a given dataset. In the context of marketing, generative AI can be used to create content, design assets, and even predict consumer behaviour with remarkable accuracy.

Generative AI platforms such as OpenAI’s GPT, DeepArt, Canva’s Magic AI, Google’s Magenta, Microsoft’s Clarity, Intuit’s Mailchimp and Unity’s ArtEngine offer diverse creative capabilities ranging from natural language generation to artistic content creation and procedural content generation for games and virtual production. Credit unions can leverage these platforms for various purposes, including automating customer service responses, creating visually appealing marketing materials, integrating AI-generated content into their digital platforms, exploring AI-generated music and art for promotional campaigns, and streamlining game development for financial literacy initiatives.

Harnessing the Power of Data

The foundation of any successful marketing campaign lies in data. By leveraging data analytics and machine learning algorithms, credit unions can gain valuable insights into their members’ preferences, behaviours, and needs. Generative AI takes this a step further by analysing vast amounts of data to identify patterns and trends that can inform the creative process.

For example, Microsoft Clarity’s Copilot incorporates Generative AI through Large Language Models (LLMs) to make analytics accessible for everyone. The Copilot feature helps you in better understanding your business and website metrics to empower you to build better experiences for your customers.

Personalised Content at Scale

One of the key benefits of generative AI is its ability to create personalised content at scale. By analysing data on member demographics, interests, and past interactions, credit unions can use generative AI to tailor marketing messages to individual members, increasing engagement and conversion rates. Whether it’s personalised email campaigns, targeted social media ads, or dynamic website content, generative AI enables credit unions to deliver the right message to the right person at the right time.

An example of a platform that can be used for creating personalised content at scale is Intuit MailChimp. Mailchimp leverages AI to personalise content at scale, segmenting audiences based on demographics, past interactions, and purchase history. By predicting subscriber preferences and behaviours, Mailchimp optimises the timing and content of email campaigns, maximising engagement and conversion rates.

Optimising Channel Selection

With so many marketing channels available, choosing the right ones can be overwhelming. Generative AI can help credit unions optimise their channel selection by analysing data on channel effectiveness and member preferences. By identifying which channels are most likely to reach and engage with their target audience, credit unions can allocate their resources more effectively and maximise their ROI.

Conversational Generative AI platforms like ChatGPT and Bard can be prompted using adequate information, to identify and suggest relevant and efficient marketing channels for your credit union.

Creating Compelling Visuals

In addition to generating text-based content, generative AI can also be used to create compelling visuals that capture the attention of your audience. Whether it’s designing eye-catching graphics for social media posts, creating personalised images for email campaigns, or generating dynamic video content, generative AI enables credit unions to create visually stunning marketing materials that stand out in a crowded digital landscape. Platforms such as RunwayML, Canva, DallE and others can be used to generate stunning visual assets for your marketing campaigns.

Continuous Optimization and Adaptation

One of the key advantages of generative AI is its ability to continuously learn and adapt based on feedback. By analysing the performance of marketing campaigns in real-time, credit unions can use generative AI like Microsoft’s Clarity, to identify what’s working and what’s not, and make adjustments accordingly. Whether it’s tweaking messaging, refining targeting parameters, or experimenting with new channels, generative AI enables credit unions to iterate and improve their marketing efforts over time.

Conclusion

In conclusion, generative AI represents a powerful tool for credit unions looking to elevate their marketing efforts and stand out in a crowded digital landscape. By leveraging data, personalising content, and optimising channel selection, credit unions can create compelling multi-channel marketing campaigns that resonate with their target audience and drive meaningful results.

If you’re ready to take your marketing to the next level, contact AsOne or email simon@asone.co.uk today to learn more about how we can help you harness the power of generative AI.