Customer behavior is changing at financial institutions. According to SNL Financial there were 7 branch closures per day last year. While some banks did open new branches, it’s clear that branches aren’t getting the draw that they used to.
So what channels have marketers shifted their focus to? Let’s take a look at the tactics banks and credit unions are pursuing to adjust to lower branch traffic.
In this study by The Financial Brand, marketers overwhelmingly saw Online, Mobile, Social, and Email efforts as “more important” and it’s in these channels that content is king.
Financial content marketing emails can be an especially great source of leads. 91% of financial services marketers are using email (or plan to start). Here are the best practices for successful financial content marketing emails.
1) Provide the right content
Financial services content should be educational in nature. People are looking for answers to their financial questions. Your content can be focused around life events like having a baby or getting a mortgage. It should be easy to read and understand, simplifying financial concepts and explaining jargon that we in the industry take for granted.
Put providing great content before pushing a sale.
2) Emails should be personal and relevant
Think “1-to-1” not “one-size-fits-all”. You serve many different demographics and so someone who’s a recent college grad might not want to receive a generic newsletter about planning for retirement.
Let customers choose what content they receive on the topics that matter to them.
3) A human element
Your financial content marketing emails should give your customers the opportunity to get in touch with your actual employees. Since you’re acting as a content provider, the control should be in the customer’s hands, but they should always have easy options for contacting you. Additionally, providing an email from your bank or credit union president when people sign up for your service is a nice touch.
Make sure your customers know that there are people at the bank who can help.
4) Don’t be a nuisance
Emails should be sent with a reliable but not overbearing frequency. For example, few people want daily emails because it’s just too much to keep up with.
Additionally, you need to include the option for users to update their preferences or unsubscribe from your service. There’s nothing more annoying than receiving emails that either aren’t relevant or just aren’t wanted any more.
Keep the customer in control.
Content is a huge part of running a successful email campaign. There’s an entire section in your email client where unwanted, salesy emails show up: It’s your spam folder. Stay out of there by providing the answers to your customers’ financial questions.
Sign up for our upcoming workshop to learn more about how content can be used on email and other channels to drive sales.