Effective Email Marketing for the Financial Services Industry

Email marketing is essential... especially for the financial services industry. As banking and finance management becomes more digital by the day, it makes sense to utilize this all-important channel for marketing. Read on to learn how you can use email marketing to build trust with your customers.

Welcome Emails 

Onboarding is your chance to set the scene with a new customer. It sets the tone for all further communication from your brand. For the financial services industry, you need to hit the right note. Is your brand steadfast and wise? Are you straight-talking, like a neighbor? Are you youthful and funny? Establish that tone in the FIRST communication with your customer, so they know what to expect. Make sure this aligns across channels, too. Consumers want to feel like they can TRUST their financial services providers. After all, they’re putting their money in your hands. So, don’t surprise them with an out-of-character tone, especially on the first impression.  

It’s best to develop a welcome email stream. Slowly introduce new customers to the features available to them over the course of a few emails (three to five works). Don’t overload them with information in a single email. Spread it out into digestible “bites.” So, one email could talk about how to transfer money, another could talk about budgeting tools and another could explain how to sign up for a car loan. Link to different landing pages that go into more detail. You can even have a demo video that shows them how to do it. That way, the customer won’t feel overwhelmed by getting ALL the information at once.  

Announcement Emails 

Have a new feature or service to share with your customers? Email is the perfect way to announce it. But you need to make it worth opening. In fact, every time you send an email, you’re asking your customer a favor: to click on it. They should get something in exchange. It all comes down to that all-important question: “What’s in it for me?” 

So, when you’re sharing news, make it about THEM, not you. Will enrolling in this new credit card come with perks for ordering from local restaurants? Will this savings account help them build a college fund for the kids? Can investing in stocks help them save for retirement? Add that human factor that makes them feel seen. After all, people respond to stories.  

And think about which audiences your announcement applies to... then target that audience.  The more relevant the information is, the more trust you will build. 

Remember, people are on alert about their finances. Don’t scare them off with a misleading subject line just to increase open rates. Avoid terms like “ALERT” or "FRAUD" in marketing communications. Reserve these subject lines for communications about problems with their account. Be friendly, provide relevant information, and let them know what to expect before they click. 

Re-engagement Streams 

Make sure to follow up with people who aren’t engaging with your content. List hygiene is important. So set up an opt-in email trigger for people who haven’t touched your emails in a while. Give them the option to skip your marketing emails and stick to official communications.  

Develop a re-engagement stream for those who opted in. This could have tips on how to make the most of their account or information on how to get support. You could send reminders to finish up incomplete tasks, like adding billers or enrolling in paperless statements. Give them a reason to engage with your emails again.  

Think Mobile First  

Remember, it’s become commonplace to read emails on a mobile phone. Make sure your email is optimized for mobile. That means your graphics should still be readable on a small screen. Make sure wide images that look good on desktop still look good mobile display. And when it comes to subject lines, you should be able to get your point across in the first few words. Mobile screens display around 45 characters, so even if your subject line is longer than that, make sure you get their attention at the BEGINNING... making them want to read more.  

Get the Help You Need  

As experts in the science and art of customer engagement, J&C understands the ins and outs of email marketing, especially for the financial services industry. If you need help building a successful email strategy, contact J&C today.