ABA-Personalized Marketing? Not Without Email.

ENPNewswire-September 8, 2021--ABA-Personalized Marketing? Not Without Email

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 07092021 - What if I were to tell you that email marketing is more than newsletters?

What if it is, in fact your way to step into personalized marketing?

Cue the record scratch. I get it. I can feel the doubt and confusion. For those of us who have been in marketing for a few years, we have seen the rise and fall of email marketing. It used to be the hot thing as emails became more ubiquitous and consumers freely shared them with businesses of all sizes.

Then, as consumers wised-up following the rise of spam, email marketing took a bit of a hit as open and click rates dropped and unsubscribes increased. The overall experience generally made marketers relegate email as a 'check box' rather than an evolving strategic tool.

Rethinking the newsletter

I'm going to be bold and say that most bank newsletters are probably written by and for your internal audience. This means that various internal stakeholders (think of your department heads or c-suite) have topics they want highlighted in a newsletter because it's important to them. In theory, there is nothing wrong with this approach.

However, if you want email marketing to be successful in 2021, you need to understand what your external audience wants. This means that instead of asking your department heads what should be included in the next monthly newsletter, you need to review your data and understand what interests that external audience. Then take it a step further.

Consumers want a personalized experience. There is a way to do this with email marketing beyond personalization tokens, such as an introduction line that reads, 'Hey Melanie!' It's no secret that generations Y and Z have much different financial goals and are at different life stages than previous generations, so why not start there? Your internal teams likely have access to the information that would allow you to segment your emails by generation or next best product (and by a whole host of other criteria), so why not leverage that and start building personalized newsletters based on customer segments that are impactful to your bank?

The benefit to this is end-users who feel heard and understood are more likely to open, click, and convert-meaning deeper share of wallet and stickier customers.

Onboarding

When we talk email marketing in 2021, customer onboarding is the first place we go...

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