One silver lining that’s come out of the COVID-19 pandemic has been a push for businesses to reevaluate their digital marketing approach. To reflect the shift in marketing strategy across industry sectors during the pandemic, Deloitte updated The CMO Survey six months after its release in February.
Between February and June 2020, businesses spent 70% more on mobile marketing initiatives. Survey respondents expected the amount to continue on an upward trajectory over the next 12 months. Furthermore, almost 78% of banking, finance, insurance, and real estate companies said mobile marketing contributed to their success during the pandemic.
If your bank or credit union doesn’t already have a mobile marketing strategy or is planning one for 2021, here are a few ideas to consider.
- Responsive and Mobile-Friendly Website Design
- Mobile Apps
- Mobile App Advertising
- Social Media and Content Marketing
- Text Messages
- Final Words
Before you even begin to think about mobile marketing, you need to have a mobile-friendly website. Responsive bank website design resizes your website to the screen size of your customer’s device. A responsive site isn’t enough, however. You’ll want to take extra care to optimize the content for mobile use, such as minimizing image file sizes, spacing out links, and simplifying the design to prevent slow loading time and create a positive user experience.
Developing a mobile app gives your customers a convenient option to engage with your bank. Because the app can remain on the screen of your customer’s device, your bank or credit union will always be top of mind and a click away. Even though your customers may begin using the app more than your bank website for quick transactions, you can easily link to your site from within your app if they require more information or advanced functionality. You can also create a standalone app for a specific campaign to boost customer interaction with your financial institution.
Speaking of apps, in-app advertising offers an alternative to online advertising. Mobile app advertising requires you to fully understand your customer. You can precisely define your target audience by analyzing data from your bank website and use the information to determine the best external apps to reach them.
Your customers probably aren’t visiting your bank website or using your app every day or even once a week. They are, however, most likely checking their mobile devices at least once an hour for notifications and updates. You can engage your customers between website visits and financial transactions with daily social media posts and new content consistently through your blog. Encouraging customers to like, follow you, and receive updates will allow them to receive regular notifications on their mobile devices.
A mobile marketing strategy wouldn’t be complete without text messages. Texting gets your customer’s attention immediately and can be a conversation starter. You can send brief messages to inform customers with beneficial information like promotions, interest rates, or changes to branch operations. Using customer data from your bank website, you can personalize a message about a recent search or transaction to begin a one-on-one conversation. Just be sure to send text messages sparingly and allow your customers to opt out so your messages don’t become an annoyance.
As more people rely on their smartphones, tablets, and other mobile devices to go online, you’ll want to make sure you reach them in as many channels and touchpoints as possible. You can accomplish this by adding mobile marketing to your bank website digital marketing strategy. BankSITE® Services can create and host your responsive bank website to get you started on achieving your goals.