The relationships consumers have with their phones say a great deal about how they spend money and how they connect with the outside world.
These are critical aspects of engagement for financial institutions to understand. As increasing numbers of account holders use their phones for banking needs, engaging them where they are is essential as digital transactions become a mainstream form of business.
With that, financial institutions should not discount the importance of push notifications. For those unfamiliar with them, push notifications are small, quick messages that appear on a user’s phone lock-screen.
While they have become a staple in mobile marketing, financial institutions are just starting to use push notifications to their advantage.
Advertising in the financial industry focuses on keeping account holders informed of products and services they may not know about. This can be especially helpful when launching new offerings that help different audiences.
For example, promotions on car loans may help new parents, and new savings accounts may be beneficial to account holders with children.
Waiting at a branch is no longer as palatable or productive as it used to be. Financial institutions are more likely to lose customers the longer they have to wait in line or wait for a loan officer.
Push notifications can let account holders know when someone is available to help them or can notify them that their appointment is close at hand.
Not every push notification is anticipated or welcomed. Advertising fatigue is a genuine concern, and any mobile marketing strategy must take this into account. Therefore, push notifications should create some type of palatable buzz that drives interest instead of an inconvenience.
Life is tough enough with everything account holders have to remember, especially passwords and various deadlines. You will be surprised with how gentle reminders through push notifications can increase engagement.
While these guidelines provide a basic framework on how to establish effective push marketing campaigns, creating a personalized and effective strategy takes a dedicated partnership with a company experienced with the digital marketplace.
Make Larky the first choice for a strategic partnership. Larky generates compelling geo-targeted mobile engagement platforms for financial institutions of all sizes. The company has years of experience developing specialized campaigns that reach target audiences with the right message at the right time.
Larky developed its expertise through countless conversations with industry leaders and clients on how account holders seek financial solutions and maintain business relationships.
Larky’s knowledge and strategies continue to influence its offerings as the evolution of mobile technology changes the financial industry. This is especially important to small financial institutions that may not have the resources of large banks.
As you consider your strategies for maximizing the opportunities that come with the digital marketplace, experience the advantage of working with a forward-thinking company. To learn more, contact Larky.