Strategic Email Marketing For Financial Institutions
Money is a sensitive subject for many people. It doesn’t matter what form it’s in– Income, Cash, Loans, Investments, and everything in between. When it comes to financial matters, most people are vigilant and expect discretion from the people they trust their money with.
So as a financial institution, you need to devise a marketing strategy that addresses prospects from whatever angle. One of such ways is Email marketing.
Email marketing for financial institutions involves setting up email strategies to deliver highly targeted and personalized emails to your clients. This helps you customize client and prospect’s preferences and data for seamless interaction with their financial provider.
Technological innovations have brought swift changes in the financial industry. Financial service providers need to upgrade their communication and email strategies to remain relevant and keep up with the competition.
If you are wondering if email marketing for financial institutions can be successful, then the answer is YES.
With strategic email marketing in place, you will be surprised at the client turnout. More to it, you will see a lot more prospects scrambling for your services.
Pearl Lemon Leads is a leading email marketing agency that can help you grow your business by establishing a well-rounded email marketing strategy.
Contact Us to find out more.
Grow A Loyal Community For Your Brand
What email marketing can do for your business goes beyond just getting your messages into your prospect’s inboxes. It’s an opportunity any business shouldn’t be missing out on.
Statistics show that:
- For every $1 you spend on email marketing, you can expect an average return of $42 (DMA, 2019).
- The latest statistics show that as many as 87% of marketers use email marketing to disseminate their content (Content Marketing Institute, 2020).
- The average open rate for a welcome email is 82% (GetResponse, 2017).
- Emails with personalized subject lines generate 50% higher open rates.
Several other studies show that email marketing is an effective marketing channel. As technology advances, email is propelled ahead of other communication channels. Also, in email automation, AI( Artificial Intelligence) has changed how customers receive and engage with emails.
Email marketing has many benefits. When used correctly, it can boost general sales, generate new customers and help retain them.
Are you interested in learning more?
What's In It For Your Financial Institution?
For many people, opening up an account in a bank is only to receive their salaries and access their bank’s basic financial services. However, there’s more to offer than those financial services.
You can use financial services email marketing to inform your prospects and customers about all the other services you can deliver. For starters, email marketing is very affordable, even for small businesses.
Email marketing is a scalable and effective communication tool that is still widely used by most consumers.
You can use email marketing to send targeted and personalized messages. It can also boost the effectiveness of your direct marketing campaigns.
Here’s what you have to gain when you set up an email marketing strategy for your financial institution:
Manage consumer data
Email marketing can enable you to manage your customer’s data efficiently, which can help you with data personalization. Customer data management is essential as it is the raw information you will use to personalize your customer’s experience.
Maintain consistent communication
As a financial institution, you must maintain consistent communication for business continuity and survival. Consistent communications can:
- Help boost engagement
- Improve customer satisfaction
- Enhance client relationship
This aspect shouldn’t be neglected. It’s a chance for your institution to keep the clients informed about your services. Additionally, this strategy will increase your customer’s lifetime value.
Help clients quickly access their financial information.
With an email marketing strategy, you can efficiently deliver crucial information to your clients without them physically visiting the bank’s branch. This can also save time sending updates, delivering documents, etc., to anyone, anywhere.
Personalize client experiences
Personalization in email marketing involves targeting email campaigns to specific subscribers by using the data and information you have about them. Further studies show that 74% of marketers say targeted personalization increases customer engagement, and they see an average increase of 20% in sales when using personalized experiences.
Let Us Connect You To Your Clients
Let our team at Pearl Lemon Leads take over your email marketing strategies.
We can send emails to your clients on your behalf and target prospects.
The best part about this is that it’s pretty simple. Just tell us what type of relationship you want to establish with your clients, and we will work upon it. Email marketing can change the whole relationship between your clients and your company.
Take the boring out of your financial services with our targeted messaging. Our experts at Pearl Lemon Leads will create a tailored strategy to put your services ahead in the highly competitive financial service world.
Ready to get started?
Reach out to us today!.
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FAQs
Yes! Email marketing is one of the most cost-effective methods of digital marketing, and it’s a great tactic to adopt to your digital marketing strategy as a whole.
There are a lot of reasons for email marketing’s success, but here are the main reasons why it’s so popular:
- Personalisation – Modern email software lets any business create targeted and personal messages for their client base, allowing you to show your customers that you value their business
- Quantity – Unlike traditional advertisements and marketing content, email marketing lets you quickly send out content to a vast customer base, ensuring that you generate leads as quickly as possible.
Communication – Email is an inherently communicative format, so your customers can interact with all the content you provide and give your company valuable feedback on your email campaigns.
Here are some of the main ways that banks are using digital marketing:
- Brand awareness – Digital marketing is a great way to get all types of clients aware of and interested in your brand, so your bank will be on their shortlist the next time they make a financial decision.
- Going mobile – Mobile apps have become critical to banks’ digital marketing strategies. Many users in today’s digital age prefer to use a mobile app to handle all their banking concerns conveniently.
Customer service – Often, a user might not have access to their bank or may not have the time to visit their financial institution. Digital marketing strategies involving customer service allow customers to conveniently care for their problems quickly and efficiently.
Despite the many differences that separate finances from other industries, a financial institution relies on clients, and they need something to draw those customers away from the competition. The financial sector is very competitive, and your company needs to tell its customers what sets your business apart. The only way to do that effectively is by compiling a marketing strategy that targets customers’ needs and delivers content to where they view it the most.