An important goal for financial technology businesses, and any business for that matter, is to be able to connect with their audience in a highly personalized way. Though there are a plethora of marketing tools and strategies that allow such engagement, nothing compares to the longevity of email marketing which has always been one of the best performing marketing practices for businesses to date.
Email works well for fintech businesses, especially when it is highly targeted and personalized. A report shows that 89% of consumers would more likely do business with fintech companies that offer personalized customer experience while 55% would prefer email as the channel to receive such experience. 카지노사이트
What is Email Marketing?
According to Automizy, email marketing is the process of creating and executing email strategies, sending highly personalized and targeted emails to your clients. Data collected by HubSpot shows that 79% of marketers see email marketing as one of the most effective marketing channels.
In this article, we are going to give you six reasons why email marketing is an essential component of the digital marketing strategy of fintech businesses, as well as how you can develop an effective email marketing strategy for the growth of your fintech business.
Reasons Why Email Marketing Can Help Grow Your Fintech Business
Email marketing allows you to manage customer data
A lot of businesses overlook the value of getting to know their customers. Customer data allows you to provide more personalized services and content specifically for them. Enhancing the customer experience, in turn, allows you to build personal relationships and deeper connections with your clients.
Having an email marketing strategy allows fintech businesses to manage their customer data to tailor content to their customers’ needs and preferences and deliver targeted emails, as a way of personalizing the email experience even further.
Regular communication with your customers
As they say, communication is key to any relationship. You need to consistently communicate with your customers to maintain and enhance your relationships with them. This is important for the success and longevity of your business. Through an effective email marketing strategy, you can keep your customers informed about your latest products, services, events, or activities. 안전한카지노사이트
You may also occasionally send emails that have nothing to do with promoting your business and its services. You can send surveys, ask for customer feedback, or get a sense of where your customers are generally through the form of check-in emails. If you do this, not only will your customers feel and appreciate how you genuinely care for them but―from their responses―you will also be able to gather insights to further improve their experience.
Personalizing customer experience
Giving a personalized customer experience is important for any business, especially for financial services providers. Email marketing is a great channel for such purposes. According to Automizy, 40% of banking customers prefer financial service providers that give more personalized service. Enhanced customer service leads to enhanced customer relationships.
It is important to develop your relationships with your clients, establishing a sense of mutual trust and understanding. As a financial services provider, you can give a personalized customer experience with banking emails by recommending plans, advising customers, retaining customers, and upselling customers.
You can personalize your customers’ email experience by designing your emails in a way that resonates with your customers. Email marketing platforms such as one that HubSpot offers, for instance, provide businesses the right tools and resources to personalize their emails and even obtain customer data to help them create better emails in the future.
Email marketing drives conversions
Email is a powerful channel for conversions. According to Campaign Monitor, an email campaign’s average click-through rate is 3% (of total recipients). On the other hand, the average click-through rate of a tweet is around 0.5%. This means that you are six times more likely to have someone check your website through email than you will through Twitter. Additionally, 4.24% of visitors from email marketing buy something whereas, for visitors of search engines and social media, it is only 2.49% and 0.59% respectively.
Email is the preferred channel for communication
As financial service providers, it is important to uphold an image of professionalism, formality, and credibility. While social media is a popular platform used by a vast majority of people, email is still a more professional channel and people still expect to receive information about products and services through email, especially when it comes to financial matters. 카지노사이트 추천
Email is effective in driving ROI
According to Campaign Monitor, email marketing renders an average of 3,800% ROI for businesses. For every $1 spent on email marketing, the average return of investment is $38. Why does email marketing perform effectively when it comes to ROI? It’s because emails give you the ability to send personalized and relevant content for your customers. The more customer data you have in your email marketing, the more targeted and relevant your emails will be for your customers. Relevance is what will make people click-through and make purchases, increasing your ROI.
Now that you know how email marketing makes such an important component of your digital marketing strategy, let us look at some tactics that you can use to grow your fintech business.
How to Effectively Use Email Marketing For Your Fintech Business
Onboard New Customers
It is important to give a great first impression in your onboarding email. Doing so will grab the attention of your new clients and have them engage with your future emails. An effective onboarding email always has a value proposition. Use data to determine what services your customers would love or services that would help resolve their financial problems.