The Next Wave of Client Engagement: AI and Digital Hospitality

Digital Hospitality is a new paradigm in client engagement that emphasises what can be done through next-generation digital tools to engage clients. These tools have been used for years, but have significantly increased during the pandemic as face-to-face meetings became less common. Today, they are a part of many companies’ outreach efforts, so what is the next step?

For many people, the answer is artificial intelligence (AI). Studies have identified marketing, of which digital hospitality is part, as the sector that can most benefit from the AI revolution. However, AI is only as good as the data that it is supplied with, and when dealing with the behaviour of individuals it is not possible to use the extremely large datasets that Large Language Models rely on. Instead, companies will have to gather small pieces of information and find intelligent ways to assemble them in order to get the insights that they need.

Doing this is further complicated by GDPR and privacy concerns and disconnected online and offline experiences – unless companies use a singular format to achieve this, they will need to connect up multiple systems. So, I’ll explore how companies can overcome these challenges and get access to the information that they need without alienating users.

What is Digital Hospitality?

Digital hospitality, at its core, is about creating meaningful and personalised interactions with clients in the digital realm. It encompasses a wide range of practices, from personalised email marketing to chatbots on websites offering tailored assistance. Essentially, it’s about using digital channels to make clients feel welcomed, valued, and understood.

During the pandemic, when in-person interactions were limited, digital hospitality became more crucial than ever. Companies had to find ways to replicate the warmth and personal touch of face-to-face interactions through screens and devices. Zoom chats became ubiquitous in both our personal and professional lives, and in-person conferences and seminars now took place online, but this convenience came at the cost of the white-glove experience that the kind of high-end clients that financial advisors and wealth managers want to attract will expect. Simple video chats on free conferencing software like Zoom can be replaced by much more involving mixed media experiences on web apps that are purpose-built for the task. This could mean anything from live moderated Q&A, social networking functionality, polling, downloads and, as we will see, the ability to use AI to deliver personalised content.

Leveraging AI

AI has become the backbone of digital hospitality, enabling companies to analyse vast amounts of data and extract actionable insights. However, when it comes to individual client behaviour, the challenge lies in gathering and processing data in a way that respects privacy regulations and maintains trust.

One approach is to leverage AI-powered analytics tools that can process data in real time while ensuring compliance with GDPR and other privacy regulations. These tools can help companies identify patterns and trends in client behaviour without compromising privacy.

Another key aspect of leveraging AI in digital hospitality is personalisation. By analysing client data, AI algorithms can predict individual preferences and tailor interactions accordingly. For example, just as an e-commerce website can use AI to recommend products based on a client’s browsing history and purchase behaviour, creating a more personalised shopping experience, you can tailor your content to client preferences. If a client repeatedly shows a preference for a certain topic then they could see recommendations for this content when they log in, be emailed reminders or you could even call them to ask them in person.

Furthermore, AI-powered chatbots and virtual assistants can provide immediate assistance to clients, answering questions, resolving issues, and even making recommendations based on the client’s previous interactions with the company. This not only improves the client experience but also frees up human resources to focus on more complex tasks.

However, to truly harness the power of AI in digital hospitality, companies need to break down silos between different data sources and systems. This means integrating data from online and offline channels to create a unified view of the client journey. By connecting CRM systems, marketing platforms, and other data sources, companies can gain a holistic understanding of their clients and deliver more personalised experiences across all touchpoints.

Driving digital engagement

As the digital landscape continues to evolve, digital hospitality will play an increasingly important role in client engagement. AI-driven solutions offer a powerful way for companies to analyse data, predict client behaviour, and deliver personalised experiences at scale.

However, to succeed in this new era of client engagement, companies need to overcome challenges related to data privacy, integration, and personalisation. By leveraging AI technologies and adopting a holistic approach to data management, companies can create meaningful and personalised interactions with their clients, driving loyalty, satisfaction, and ultimately creating loyal clients.