Email may have been around for a long time, but individuals tend to overlook it as a channel of digital marketing. Occasionally overused and sometimes misused, email stays as a work tool for marketers needing outputs, not necessarily coolth. Email used to be a mere standby tool, but it is now beyond that. The significance of email has increased noticeably in the coronavirus epidemic time. Here are some pieces of advice on using the email marketing strategy for financial purposes.
Gather Extra Data On Customers
By possessing more information regarding the customers of your business, you can make the messaging be more personalized. To aid in making it more personalized, credit unions and banks have to create chances for customers to present both first-party and zero-party data. It is a good idea to show customers pop-ups and opt-in web forms when they come to your financial institution’s site.
Communicate Things Empathetically
When statistics and dashboards are dominating decision making, you can easily forget that an individual is behind each conversion. They are particularly important in an epidemic situation because the crisis brings about stress and it makes people sensitive. Therefore, marketers are responsible for messaging with empathy, and this involves recognizing the audience’s point of view, making messages devoid of judgment, and mirroring the emotions of customers.
Define Customer Segments Again
The pandemic has created social polarities, so it is important to redefine audience segments. For instance, the pandemic has not just rendered some individuals jobless, but it has also caused pay cuts for many. Therefore, the crisis has financially affected millions of people around the globe except for those who continue to work from home. Besides, there are people keen on getting back the normal state of the world and the traditional banking versus individuals who want to continue digital banking. Credit unions and banks should consider leveraging these segmental chances, by interacting with each customer segment accordingly.
Even in the epidemic period, customer retention has to remain as a core focus of the marketing strategy for conventional checking, credit cards, and savings. Anyhow, there is also a big chance for finance-related service brands to grow their relations with existing clients through up-selling and cross-selling in every email marketing campaign. Brands that stay loyal to them in this tough period have a chance to make the relationship deeper through these strategies. We hope that these tips will prove to be beneficial especially during this lockdown time on account of the Coronavirus pandemic.