81% of mobile customers use notifications and alerts in their mobile banking apps.
The majority of these will be transactional and service oriented in nature, which notify individuals about a variety of important happenings in relation to their accounts, at the moments that matter. For instance: a low balance alert, unusual account activity, new statements etc. They have become everyday interactions that deepen relationships.
Customers have an almost unlimited appetite for these communications, and research has shown that they are the most valued messages, and have a positive effect on your brand. Why? Because it gives them more control over their finances than ever before. And, interestingly, Swrve has discovered that customers who opt in for notifications are proven to spend more: one of our customers found a 46% increase in POS card transactions from opted-in customers, as well as a 45% increase in monthly transactions from $550 to $801.
In an environment where customers spend on average just 17 seconds in their banking app per session, it’s vitally important to keep customers engaged. Transactional and service messages give you the perfect opportunity to help your customers, and nurture relationships, as well as giving them a direct reason to open your app, with little or no cost for your bank.
In this on-demand webinar, Swrve CMO Barry Nolan examines a number of challenges banks face when it comes to engaging with customers in today’s multichannel environment, and he shows how transactional and service messaging can be turned into your most effective marketing.
Some of the other topics covered are:
- Reach & relevance: the 7 variants of personalization
- 5 ways to fix onboarding
- How to speak to mobile customers at scale and speed
- Always be testing – every digital platform’s progress is the sum of all its tests
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