Mobile is a very engaging communication channel that can be effective in many sectors—and banking and insurance are no exception. Mobile loyalty campaigns are very important in these industries where competition is tough: more and more online banking applications are developped exclusively for mobile. That means mobile marketing is increasingly being used by banks and insurers that need to stand out from the crowd. So, how can you improve your mobile campaigns performance?
When it comes to customer-bank relationships, mobile has become essential: 86% of mobile owners use their phone to manage their finances at least once a week and, for 44%, it’s once a day. Here are some of the mobile campaigns that perform well for banks and insurers.
Read also: 5 Tips for a Loyalty-Friendly SMS Campaign.
With mobile, you can push promotional campaigns to drive specific commercial offers. The message and imagery must be adapted and carefully chosen to engage the target as much as possible. In banking and insurance, rich messaging can be vital for setting your organization apart and making you look dynamic.
You can also use rich messaging to gather information on your customers and their projects, and to encourage them to arrange a meeting with an advisor. Make sure that you:
- Suggest promotional offers to suitable targets at the best times (for example Christmas or back to school)
- Add personalized elements through the SMS channel
- Keep your loyalty program active
Customer service campaigns
Rich SMS is a great way to send details about your new services. With mobile, you can communicate easily with your customers, whether you’re promoting a new claims tracking service, announcing the opening or closing of an agency or confirming an appointment and so on. Don’t forget that the delivery rate of SMS is 99%, which means they’re read more than any other form of communication.
Other ideas to improve mobile campaigns performance
You can encourage customers to download an application by putting in place an SMS campaign. You could also set up a conversational chatbot on Messenger for younger targets to highlight new promotional offers or services on a more modern channel. It means they can get information and answers to questions instantly. It’s a great channel for boosting your customer relationships with young people (generation Y) who are in search of innovation and a fast, fun way of communicating!
Mobile marketing has become essential in the banking and insurance sectors. To stand out, why not try rich SMS? But do remember to look out for EU General Data Protection Regulations that come into force in May 2018. If you’d like expert advice on this or any other aspect of mobile marketing, contact the team at myElefant.