Report indicates that push notifications earn 10.5% tap-through engagement rates on Saturdays
ANN ARBOR, Mich., Feb. 15, 2023 – Larky, a fintech provider helping financial institutions proactively connect with their audience in the right place and at the right time, today announced the release of the third issue of The Larky Lowdown report. This quarterly report centers on push notification use within the financial services industry and shares actionable data insights to enhance push notification strategies among financial institutions.
“This issue of the Larky Lowdown informs bank and credit union leaders how to leverage push notifications to earn the most attention from their account holders at the right moments throughout the week,” said Kurt Schaldenbrand, Chief Technology Officer and VP of Product at Larky. “Not all messages are received equally by the account holder, which means financial institutions must determine which delivery times are the key to unlocking optimal engagement.”
Account holders’ push notification responses, as seen via tap-through rates, indicated several engagement trends that ranged depending on the distribution time of day and day of the week. Report findings include:
· Saturdays are the prime day of the week for delivering push notification messages with an average 10.5% engagement rate;
· Afternoons and evenings are the peak times of the day to send push notifications, regardless of the day in which the message is sent. Messages sent during these times often earn engagement rates of at least 8% or more; and,
· Mondays and Wednesdays are typically the weakest-performing days for sending push notifications, earning an average tap rate of about 7.5%.
Schaldenbrand added, “A crucial takeaway from this report is that understanding engagement patterns should be an important consideration when scheduling future communications. If financial institutions can be flexible with the day and time of their push notification distribution schedule, it makes a significant difference to do so. While some alerts may have a firm distribution time, such as operational announcements, others should be strategically sent during optimal response times to maximize account holder engagement.”
Each issue of the Larky Lowdown report focuses on a particular area of push notification usage among both banks and credit unions. The quarterly report is freely available for download from the Larky website.
Larky, the market leader of consumer engagement technology, empowers financial institutions to proactively connect with their audience in the right place, at the right time. The company advances digital transformation in the banking sector through its Larky nudge® platform, which delivers tailored turnkey push notification campaigns to selected account holders. For more information, visit https://nudge.larky.com. Follow Larky on LinkedIn and Twitter.