The perfect opportunity to promote mobile banking is when customers visit your branch. Do they have a reason to pay attention & change (beyond ‘it’s convenient’)? You can raise awareness, educate customers, and incentivize adoption all within one experience. And (most importantly) why should they try mobile banking? Promoting to existing customers will be far less costly than promoting to new customers. Promote mobile check deposits to reduce in-person banking Published March 31, 2020 As banks and credit unions work to enable social distancing, online remote deposit capture (RDC) can help reduce potential exposure to the coronavirus for consumers and your staff. It begins with the launching of your mobile app, progresses to customer engagement and finally moves to improved performance through regular customer feedback. Today, however, mobile banking is on the rise, with the Federal Reserve reporting that 52% of smartphone users with bank accounts embraced mobile banking in 2014. The goal of a mobile app marketing strategy should be to acquire users that will not only drive repeat engagement but will also become loyal advocates for the product.This step-by-step guide to marketing your mobile app explores the three stages of a mobile app marketing strategy and the metrics needed measure success. Many banks have smartphone apps you can download and access on the go. Answering these questions (with a reason other than “it’s more convenient”) can elevate your marketing campaign from one that raises “awareness” to one that drives adoption. Make sure your emails are optimized for the mobile experience. • Include in regular mailings. While these growing numbers are nothing to scoff at, there’s still much room for growth. Check out the mobile apps launched by the big banks There are millions who have downloaded the mobile app. Why should they pay attention? That’s because SMS banking uses text messaging -- the iconic activity of cell phone use. You will likely see offers or advertisements for this app on the bank’s website or in the branches. As with most other electronic and … And unless there is a reason for them to do so, they won’t. But first, let’s look at some of the other factors affecting mobile banking adoption rates. You don’t “try out” a banking app — so PR often doesn’t have a big impact on adoption rates. And some of the more traditional methods financial institutions use to promote their offering are not well suited to promoting mobile banking. Mobile Banking in Pakistan is a very potential area. Influencer Sharing. And while the bank currently doesn’t offer much in the way of account variety, it stays on top of its mobile and online banking game. • Phone calls from the customer to the bank's customer service. Today, I thought I’d talk about the promotional tactics that best support adoption. Promotion: $1 referral bonus Expiration: N/A Availability: Must join waitlist Terms & Conditions: Eligible users will have the opportunity to receive a promotional reward each time you refer a friend to Step using a referral code issued to you by Step when you create an online account. Moving customers to the mobile channel can drive profitability and improve your ROI. Like direct mail and TV ads, print ads serve entirely as awareness pieces. While they're popular device for increasing brand awareness, TV ads aren’t that effective at driving adoption. In fact the majority are interested in banking online and digital tools. The mobile channel is the top priority … Google Play Store Rating: 3.9/5. If your online banking platform is lacking, you... Easy email reminders who count on the weekly recap. In pull mode, the bank sends a one-way text message to alert a mobile subscriber of a certain account situation or to promote a new bank service. Mobile banking apps are super trendy and have been for a handful of years. 36% use it to pay bills. The main reason is that ads aren't necessary. Many non-banking apps rely on press to drive adoption, hoping to “go viral” and acquire a ton of app users. And unless you’re targeting tech savvy people those ads won’t be enough to drive adoption. Here are 65 ways to get started. When a customer walks into a branch, posters and popups on counters should announce that mobile and online banking access is available. This is where smart marketing comes in. This enables you to easily turn email into a … Promote it the right way: Mobile Banking App..!! Step Mobile Banking Promotion. If they don’t believe they can complete transactions correctly, they aren’t going to use it. Link directly to mobile banking app iTunes and Google Play app stores. Make sure the app is created, owned, and operated by your bank. Don't overdo it though. It might help to put yourself in the consumers’ shoes. Existing customers are already loyal and have a relationship with the bank, which reduces friction to any type of advertising directly from the bank. Now that you’ve built your mobile app, it’s time to start marketing it. Simply search for your bank in the app store on your smartphone and download the application. There are over 50M mobile subscribers and there are only 5-7M Bank account holders. Unless your direct mail gives customers a reason to engage (like a chance to win for example) they’re not going to. Financial services isn’t a sexy topic; people don’t like taking time out of their days to think about it. You can raise awareness, educate customers, and incentivize adoption all within one experience. There will still be costs associated with reaching offline customers, but it will be far less than the cost of ads. I’m repeating myself at this point, but I’ll say it again... It’s insanely hard to get them to leave Facebook (where things are interesting and fun) to download a banking app. It must be highly personalized for each individual. Modern Techniques for Online Promotion of Banking Services and Products Author: Valeria Arina BALACEANU, Ecological University of Bucharest, Romania, arina.balaceanu@gmail.com Promote bank services and products involve above all extensive market studies, identifying consumer needs, consumer segmentation, improving the quality of supply - all for shaping a promotional campaign to be … How to Apply for Bangkok Bank Mobile Banking Download Bangkok Bank Mobile Banking application at For security, Bangkok Bank Mobile Banking can be used with a mobile phone or tablet with supported operating system only iOS version 10.0 or Android version 6.0 and above. Existing customers can be reached at points of contact. Remember, mobile banking is convenient. Ensuring that mobile banking centers on the consumer is important, but not enough. You need different tactics.[1]. How to Promote Mobile Banking & Boost Adoption, How to Get Staff to Confidently Promote Digital Banking, Why You Need More Than ‘Convenience’ To Drive Digital Adoption, Launchfire Interactive Inc, 22 Hamilton Avenue North, Ottawa, ON, K1Y 1B6, Canada, with a reason other than “it’s more convenient”, while your tech is convenient, change isn’t, REPORT: How to Turn Frontline Staff into Superior Digital Advocates, rovide product simulations on your website. Rather than just creating awareness, mobile app marketing is about interacting with your audience, being with them throughout the buying journey. Then for people to navigate (essentially unprompted) to the app store, and download a banking app — instead of continuing to watch TV. Promoting your mobile and online banking presence to them is an effective and cost-efficient way to grow the use of these great resources. And to be honest? Promoting to existing customers will be far less costly than promoting to new customers. Interactive campaigns ( like game-based marketing promos) are great for promoting mobile banking. Add a bar code as well, which will allow customers to quickly scan the code on their phones and be brought to the location of the app or website. But banking isn’t cool (sorry). When promoting new online banking services, talk as much about the benefits as you do the features of the service. When regular mailings go out to customers, insert a flyer about your mobile and online banking using the same techniques as mentioned above. Leveraging the power of influencers can be the best way to drive mass amounts of traffic to your mobile. You also need to actively pursue buy-in from staff, who will be (understandably) skeptical of digital technology. The digital banking teams at the most successful banks have worked long and hard to design, build and promote mobile banking services that meet their customers’ needs. Also, the device must have never been jail-broken (iOS) or rooted (Android). Give them a really good reason to engage your bank and download the new app. Then show how to reach these resources with instructions on where to get the mobile app and the bank's URL. But change isn’t. When a customer dials customer service, and after their problem has been handled, the representative should recognize if the issue could have been handled by the mobile or online banking website. You’re relying on customers to watch your ad (and actually pay attention). … A simple way to rectify this is to provide product simulations on your website. Driving mobile banking adoption requires you to examine what barriers stand in customers’ way. You can pull them out of a busy line and walk them through how to complete their transactions digitally. 20829 72nd Ave S - STE 600Kent, Washington 98032info@maprocessing.com (866) 598-0698, How To Promote Your Mobile And Online Banking. An easy way to do this is by combining fun experiences (like games) with prizes that customers care about. This chart explains the primary reason why banks want customers to move to mobile The other reason is the ability to scale up business. There’s no magic potion that will quickly persuade a large proportion of your customers to adopt mobile banking. Interactive campaigns (like game-based marketing promos) are great for promoting mobile banking. This isn’t to say older customers won’t adopt new tech. Use a mobile banking application. Mobile banking users were more likely to know their exact balance than other banking customers were in 2018. 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