Savings accounts, credit cards, loans – well these aren’t the kind of words that excite everyone. Rather, finance is considered boring by many. To add to the woes is the rigid regulatory environment. Content, however, can help to make things interesting for financial service providers; it can help them connect better with their clients and customers. With smart, engaging, and useful content, financial companies have a great scope to boost customer engagement. Good email marketing campaigns thus can play a crucial role in creating and nurturing positive relationships with today’s customer.
While this blog is all about some actionable tips to perfect your email marketing, to begin with, let’s list down a few benefits of email marketing for financial services:
- Email marketing is arguably the most cost-effective marketing channel for finance service providers.
- Considering the seriousness attached with the industry, it is one of the most preferred communication channels too.
- Like it does for any other industry, email marketing helps to keep your finance business right in front of your customer and on top of their mind.
- Creative campaigns can help to break the monotony linked with the industry.
Now, let’s walk you through 7 useful tips that will help you capture the attention of your email subscribers like never before:
1. Create awesome welcome emails
You might have read it a hundred times, but the welcome email is your first email communication with your subscriber/ customer and it ought to be real good. Surprisingly, most financial service providers skip this crucial step.
This simple welcome email from Intuit Quickbooks begins with a nice welcome message and goes on to reveal just the right information a new subscriber would be looking for. With a link to ‘How it works’ video and recommendations and ways to connect with them, they are bang on!
2. Refrain from creating a drab copy and design
While it’s important to keep the message in the email simple and to the point, you don’t need to sound boring, and this especially applies to emails from financial service providers. While everyone understands the importance of savings, not many are able to handle their finances like a pro. Generating interest in this target audience can be the key to a successful business in this industry; content can play a vital role here.
Acorns knows that the millennials are not the ones who would save all they can for the time after retirement. In this email, they lure their audience to save for something they love to do – travel. The colors and images sure make up for a fresh and exciting email design.
3. Segment and personalize – that’s the way forward
Email marketing has left the one-size-fits-all concept behind. Today, email marketing is about segmenting your email list and creating personalized content for every subscriber. Segmenting your subscribers on the basis of the services they prefer or need, the stage at which they are in the sales cycle, etc. can help create relevant messages that promise better engagement and conversion rate. However, here’s a word of caution. You might be having a lot of information about the client but you need to know where to stop as you personalize emails. You don’t want to sound creepy, especially because it is about their money.
In this personalized email, Intuit Mint sends the subscriber an overview of their performance during the previous week. Such a non-messy and interesting way to share a weekly update!
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4. Share informative content
A little help can go a long way. With new features being added every now and then in the financial service sector, you can always offer a helping hand to your subscribers who might be intimidated by them and having a tough time understanding the details. Coinbase, in this emails wonderfully helps its subscribers understand Ethereum, a new computing platform to create decentralized applications and issue new crypto assets. Great work indeed!
Image source: Really Good Emails
5. Make announcements sound interesting
With the financial service industry making huge technological progress, there are new features that each business is trying to introduce every now and then. There are two ways to make such announcements- the ‘just matter of fact’ way and ‘the exciting way’. Anyone would like the latter, right?
Check out the email from Robinhood. While they use name personalization to kick-off on the right note, they make an exciting new announcement that will be making the life of their subscribers easy. The image, the colors add to making the email design look great. Acorns, on the other hand, has created an email to announce their referral bonus system.
6. Remember that mobile rules
Around 42% of people prefer to open their emails on their mobile devices. So there is no need to state how important it is for your emails to look perfect on small screens. Financial emails sometimes have graphs and tables and complicated finance data which might not look very convenient-to-read on hand-held devices.
Your email content thus needs to be mobile-friendly. Creating responsive email designs is the way to go forward.
7. Analyze the performance of your emails
When you do something, you do it for a specific reason, isn’t it? Analyzing the performance of your emails helps to understand if your emails are working in your favor or not. Find out what type of content is working for you and what is not. The open rate, click-through rate and other factors will give you a great understanding of what you need to do going forward.
Simplifying the complexities linked with finances through content can work wonders for financial service providers. Relevant and compelling email copies can help you achieve your ultimate goal of converting leads. Add a colorful image to the exciting copy, and you have the perfect combo to impress your subscribers. While emails help to put your business on top of the mind of your prospective customers, they aid in creating a lasting relationship with existing customers.