You would be hard-pressed to find someone who doesn’t use technology to manage their finances. Paying bills online, withdrawing money from an ATM and monitoring transactions from mobile bank accounts are common tech-related banking practices. The push to more safely pay for goods and services, post-Target security breach, is starting to get traction with Apple Pay. As more people stop paying with cash, the financial services industry is poised to take personalization to the next level.
In the financial services industry, it is vitally important to be visible to potential customers at the exact moment they need something. Sometimes that means having brick-and-mortar locations conveniently located around your city – and sometimes that means being visible online, so they can find you from the comfort of their couch.
Do you work for THAT bank? You know the one – the only one on the block that hasn’t figured out mobile banking. With around 50% of smartphone owners using mobile banking services, there’s still room to grab additional market share. You don’t have to read a bunch of articles though to find out what mobile banking capabilities to consider. Best case – you ask your customers directly. If that’s not realistic or timely, simply start by imagining their banking experience and what would help make it easier and convenient. We’ll help you get started.
1. Empower them to design their own mobile banking experience. Some customers want to be notified via email or text when money is withdrawn from their account. Others want to go paperless and receive statements in their inbox. Others may want more guidance, advice or special services. Collect information about customers' financial goals. What if a customer who’s saving for a new car received a text notification when you’re offering a special rate? Give applicable, concise information to your customers.
Customer data is the biggest asset you have. Use it wisely – but use it! Email campaigns are cost effective, easy to measure and get proven results.