The days when banks and credit unions could get away with a mobile banking app that did little more than show balances and transaction histories are over. Today financial marketers’ approach to the mobile channel must be centered on consumers, not on products. Quite simply, banking providers must personalize the experience.
Innovative offerings and delivering a comprehensive range of services and solutions can be differentiators. In short, deploying digital capabilities to solve users’ problems will be the key to building long-term relationships with consumers.
One way to ensure higher conversions is through selective customer targeting and retargeting of products and services. Reaching out to consumers with relevant offerings in their decision-making phase will help create trust, then making it easier to sell, upsell, and cross-sell for the bank.
continue reading »