After a turbulent few years, the banking industry is working to regain trust. In this era of heightened expectations for transparency and relevancy – intensified by exploding media choices – consumers are increasingly assuming control of their relationships with their financial services providers. Therefore, it’s imperative that banking industry brands distinguish themselves by delivering exceptional customer interactions that optimize relationships and rebuild trust. Customer retention has never been more important, or more difficult to manage.
These challenges require marketers to deeply understand consumers’ online behavior and preferences across digital marketing channels, and map marketing strategies, tactics, and budget to meet these needs.
Lyris recently sponsored a survey by The Economist Intelligence Unit (EIU) to examine trends in digital marketing and identify any gaps in understanding between consumers and marketing executives in various industries, including banking. The EIU survey indicates that while marketing executives in the banking industry are making an effort to invest in current customers, they lag behind other industries in presenting consumers with what they want.
The consumer findings have a couple of significant implications for banking executives. First, because email is a preferred means of communication for consumers, marketers should be sure to employ effective email marketing best practices related to deliverability, testing, and dynamic content. In addition, marketers need to create messages and select digital channels that make the most impact in a particular phase of a consumer’s buying journey; during post-purchase, for example, marketers should focus on highly personalized emails.
Using email list management software like that from Lyris can help in providing authentic product information and personalized deals based on consumer behaviors across websites and campaigns, and support proper email campaign management to help avoid sending high email volumes and list fatigue. To learn more about how Lyris solutions can help, visit www.lyris.com/solutions.
Download Survey Reveals Email Marketing Insights for the Banking Industry to learn more.
Lyris (@Lyris ) is a leading global provider of digital marketing solutions that help companies engage with customers in more meaningful ways. Lyris products and services empower marketers to design, automate, and optimize data- driven interactive marketing campaigns that facilitate superior engagement, increase conversions, and deliver measurable business value. Lyris’ high-performance, secure, and flexible digital marketing platforms improve marketing efficiency by providing automated digital message delivery, robust segmentation, and real-time digital channel analytics. The Lyris solutions portfolio is comprised of both in-the-cloud and on-premises offerings – Lyris HQ and Lyris LM – combined with customer-focused services and support. More than 5,000 companies worldwide partner with Lyris to manage and execute sophisticated digital marketing campaigns across email, social, Web, and mobile channels. Learn more at www.lyris.com.