The digital world has evolved from desktops to mobile devices, hence financial organizations are always on the look for a powerful new tool to communicate with their customers. Unlike SMS messages or emails, web or browser push notifications are sent by a mobile operating system or desktop browser. These push messages directly pop-up in ‘notification tray’ on the mobile lock screen or flash on the desktop screen.
Not all financial organization have adopted this technology. Only a few big banks like Bank of Australia, Bank of America etc. have strategically used the push notifications for enhanced value and better, profitable bond with their customers.
More than 46% consumers readily allow transactional web push notifications over emails to stay updated with the current banking schemes, offers, and other financial information. Still more than 50% customer base remains still open that can be easily tapped by small, medium and big financial institute that are failing to leverage this intelligent marketing communication tool.
Here are some points for product marketer to decided which channel is best for the various transaction communication needs
Instant Delivery:
For transactional messages, text messages are way better than Emails because they are delivered instantly. However, the problem lies when users are asked for their personal details. Most of them are not at all comfortable in sharing mobile numbers.
This is exactly where Web Push Notifications are widely preferred. They help banks communicate easily without sounding too pushy. As they are delivered in real time and that too with just a couple of clicks without any need of contact information. Users that are interested in receiving updates from the bank happily give their consent and readily interact with such messages.
Hard to Miss:
Email open rate of 3-4% is what concerns most officials and owners of banking and financial sectors. One more major challenge with email marketing is that we receive too many emails from different sources on daily basis. Moreover, web push notifications are way better as compared to emails. With emails there is one more risk, it may end up in the spam folder.
Whereas web push is quite, simple and easy to use. It directly pops up in front of the screen making it extremely difficult to miss. So, Banks can easily convey their messages, and also provide rich user experience by delivering highly critical information in real time.
Actionable Messages:
Web push notifications are actionable messages that consist of a deep link to the web page containing the offer or banking information. Users are straight-away directed to the desired web page. This feature of browser push notification is highly effective when we consider the short span of the users in today’s mobile-friendly world.
Cross Platform Accessibility
Web push notifications can be seamlessly delivered across any digital platform including, mobiles, desktop, and other connecting devices. This has killed the need of developing a separate mobile application. Flawlessly deliver the messages on Android or iOS mobiles without any delay.
Location based information
Across the globe, there are many banks and financial organization that have started harnessing the power of web push notification geolocation feature. American Express is one of the first financial institutions to use location-based messages. Today, this has been now adopted by all the bigger banks. With this feature, banks can offer programs that allow debit or credit card holders to sign up for discounts at specific retailers and restaurants close to their location.
Feedbacks:
Financial and banking organizations can easily improve their service by gathering feedbacks from the customers so you can work on it. Here is where email flourishes. But usually, the users don’t have the much needed time to write a complete feedback. In these cases, other channels like web push have an upper hand.
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