The financial industry is persistently in the spotlight therefore this increases pressure for retail banks and financial companies to perform a consistent momentum and ensuring customers are kept constantly reassured in regards to their personal information being kept safe and protected.
Typically banks communicate with customers via email however the recent introduction to internet banking and mobile apps places a threat on customer relationships with banks this meant that financial organisations had to change specific policies to meet their customer’s needs.
Email and content strategies to use to survive in a financial industry
It is important to be informative and beneficial when sending out emails to customers, to ensure consistent engagement between both parties and most importantly keep them interested. Being broad with emails will keep the customers interested and potentially allowing them to open future emails.
It is difficult in today’s marketing industry to reach out to new customers without them opting; therefore a good solution to this would be promoting the word by using your current customer on your brands behalf. Retail banks have recently engaged with this strategy more as it has been successfully pursued. According to chase bank, a bank in the US, they have launched an email campaign promoting the benefits and value of their bank aiming to introduce to friends of customers. As a result, current customers were awarded a $100 cash reward and to the referred friends a $50 cash reward. The predominant idea of this concept was to involve as many people as possible and providing a satisfied customer service, leaving them happy and satisfied with the reward payment and customer service, furthermore gaining new customers and increasing brand awareness.
Providing perks, is also another good email strategy in the financial industry for example encouraging subscribers to opt-in to receiving additional emails. Visa the world wide international bank won an award for best financial email by encouraging customers to sign up, by promoting the possibility to win a trip to the super bowl in San Francisco.
Lastly, a good email strategy is providing an easy accessible webpage with appealing, visual icons portrayed on the webpage. For example American express opted for simple big icons on their webpage as they are aware that most customers require concentration and taking the time to read the webpage well. Therefore with clear-cut icons visually presented on the webpage allows American Express to create emails and website that are easier to look through and browse.
In conclusion, emails contribute a critical role in communication, therefore when associated with important organisations such as banks and finances; email marketing is a great strategy in promoting brand awareness and communication with customers.