You may be wondering how email marketing can help your neobank or fintech grow. After all, your users are accustomed to interacting with your app or website on a daily basis. Won't they just ignore any email you send them?
The short answer is: no, they won't. Email marketing is still one of the most effective ways to communicate with your customers, regardless of whether they're existing or potential users. In this article, we'll discuss the importance of email marketing for fintechs and neobanks and share some tips on how to create an effective email marketing campaign.
How Email Marketing Benefits Fintechs and Neobanks
Email marketing is still an important communications channel for businesses, and it can be especially valuable for fintechs and neobanks. Email marketing can help you reach more customers and keep them engaged with your brand. It can also help you boost customer retention and encourage more customer loyalty.
Preparing Effective Email Campaigns for Fintechs and Neobanks
Your email campaigns are a key part of your communications with customers—and it's important to make sure they're effective. Here are some tips for preparing your campaigns:
1. Plan your campaigns in advance. This will help you ensure that you have all the necessary resources in place, and that your messages are well-coordinated.
2. Tailor your messages to your target audience. Make sure that your content is relevant to your customers, and that it speaks to their needs and concerns.
3. Use a clear and concise tone. Your emails should be easy to understand, and should avoid using jargon or technical language.
4. Be consistent with your branding. Your email campaigns should be visually consistent with the rest of your marketing materials, so that customers can easily identify them.
5. Test your messages before sending them out. This will help you ensure that they're formatted correctly and that they're displaying properly on different devices and email clients.
Strategies for Building a Successful Subscriber List
There are a few key strategies you can use to build a successful subscriber list:
1. Give people a reason to subscribe. People are more likely to sign up for your list if there's something in it for them. Offer exclusive deals, monthly giveaways or early access to new products.
2. Make it easy for people to subscribe. Place a sign-up form prominently on your website and make sure it's easy to find. You can also offer incentives for people who sign up, such as a free ebook or discount on their next purchase.
3. Send interesting and engaging content. Your subscribers will lose interest if all you send them are promotional emails. Send interesting articles, infographics, videos and other content that they'll want to read.
Measuring the Success of Your Email Campaigns
Once you’ve got a few campaigns under your belt, it’s important to measure the success of your email marketing. This will allow you to see which campaigns are working, and which need revamping. Look closely at the open rate and click-through rate (CTR).
Open rate is the percentage of recipients who open your email, while CTR is the number of recipients who click on a link or call-to-action in your email. If you find that those two numbers are low, you may want to consider refining your messaging or adding more enticing visuals.
You can also look at how many unsubscribers and bounced emails you have after each campaign, as well as how many complaints were registered against it. A high unsubscribe rate could be an indication that something was off in a given campaign – and these metrics can help guide your decisions going forward.
Crafting Engaging Content for Your Fintech or Neobank’s Audience
When crafting content for your email campaigns, it's important to make sure that it's relevant and engaging. If your audience feels like they're getting something of value out of the emails, they're more likely to take action and respond favorably.
You should also consider segmenting your audience based on their interests, behaviors, or demographics. This will allow you to target them more effectively, and tailor your content to their specific needs.
Also, don't be afraid to mix things up with visuals or multimedia elements. Visuals are a great way to get people’s attention and can be used in combination with text for maximum engagement. And adding multimedia elements such as videos or audio clips can help transform ordinary email campaigns into engaging experiences that get results.
What to Avoid in Your Email Marketing Campaigns
Email marketing may sound easy, but it's a tricky game that requires some finesse. Getting it wrong could result in you getting fewer customers, which is why it's important to know what not to do.
Here are some of the most common mistakes to avoid when designing email campaigns for fintechs and neobanks:
- Not having a clear call-to-action: Make sure that each email has a single, clear goal in mind—this will help focus your efforts and increase conversions.
- Sending too many emails: Bombarding customers with emails can have the opposite effect and make them unsubscribe. Find the right frequency for your customers by A/B testing different intervals.
- Not personalizing emails: Personalization is key when engaging customers—take the time to craft emails that address customer’s pain points and show them you really care about their needs.
- Poor design and readability: You only have a few seconds to capture your customer’s attention, so make sure your email design looks professional and follows good readability habits.
Email marketing is a powerful tool that can be used to increase customer retention for fintechs and neobanks. By using email marketing, businesses can communicate with their customers on a regular basis to keep them informed about new products, services, and promotions.