With banners, various tests can be done at a relatively low cost, with learnings applied to more expensive channels such as direct mail. Google Play Store Rating: 3.9/5. Now that you’ve built your mobile app, it’s time to start marketing it. But, in reality, mobile app marketing is more than that. Existing customers are already loyal and have a relationship with the bank, which reduces friction to any type of advertising directly from the bank. And to be honest? If so, the rep should ask the customer if they are aware of these resources. Focus the ways that online banking can help customers, such as convenience and ease of use. Some financial institutions have a younger, tech-savvy customer base that are more inclined to adopt mobile banking. You can raise awareness, educate customers, and incentivize adoption all within one experience. If you are going to engage people with social ads, make sure that you’re careful about it. Many non-banking apps rely on press to drive adoption, hoping to “go viral” and acquire a ton of app users. 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. Mit dem Begriff Mobile-Banking (auch M-Banking oder mBanking genannt) wird die Abwicklung von Bankgeschäften bezeichnet, die unter Zuhilfenahme von mobilen Endgeräten wie Mobiltelefonen oder PDAs stattfindet. Educate customers on how-to use your new tech. • Phone calls from the customer to the bank's customer service. Promoting your mobile and online banking presence to them is an effective and cost-efficient way to grow the use of these great resources. As with most other electronic and … The first place to start promoting your mobile and online banking is with existing customers. Mobile banking is slowly transforming the typical banking experience. All Rights Reserved. Mobile banking users were more likely to know their exact balance than other banking customers were in 2018. Number of mobile users is set to rise from 0.8bn in 2014 to 1.8bn by 2019 Source: Mobile Banking 2015, July 2015, KMPG 1.8bn Get a Better Picture of your Customer (But Don’t Spy Through the Keyhole) 01 FIRST WAY Segmenting customers by similarities in their records is based upon many simplifying assumptions and is inflexible. Promote it the right way: Mobile Banking App..!! Then show how to reach these resources with instructions on where to get the mobile app and the bank's URL. You can pull them out of a busy line and walk them through how to complete their transactions digitally. The first place to start promoting your mobile and online banking is with existing customers. RMN Digital | August 8, 2012 | Asia Pacific, Consumer, Corporate, Mobiles, Regions, Strategy | No Comments. In time, banks and credit unions will need to apply machine learning techniques to better understand how to target people differently and give them options for customizing their mobile … It must be highly personalized for each individual. Apple App Store Rating: 3.3/5. While they're popular device for increasing brand awareness, TV ads aren’t that effective at driving adoption. Begin with a handful—or even just one—and test what works for you and what doesn't. Copyright © Member Access Processing. Remember, mobile banking is convenient. 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. 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. … Banks in Asia/Pacific are ramping up their mobile banking propositions as they race for mindshare among the region’s increasingly technologically savvy customers, says market researcher IDC. You can raise awareness, educate customers, and incentivize adoption all within one experience. These existing customers are already within the bank's ecosystem. Interactive campaigns (like game-based marketing promos) are great for promoting mobile banking. Consumers should be able to choose and have control over what they see and what they do. They almost always end up in the trash. Interactive campaigns ( like game-based marketing promos) are great for promoting mobile banking. While these growing numbers are nothing to scoff at, there’s still much room for growth. A simple way to rectify this is to provide product simulations on your website. An easy way to do this is by combining fun experiences (like games) with prizes that customers care about. Many banks have smartphone apps you can download and access on the go. This way customers and frontline staff can educate themselves on how to use your tech, whenever they have time/need. One of the biggest mistakes you can make when promoting mobile banking is to focus only on awareness. SMS works in either a push mode or a pull mode. Banks Working Hard to Promote Mobile Banking: IDC. Mobil Banking is one of the modern and advanced means of providing electronic banking services in addition to the technological means and methods commonly used at the present time. Make sure your emails are optimized for the mobile experience. 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. A recent study showed that 38% of millennials have abandoned mobile banking because the process took too long.[2]. 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. If it’s too much effort to change, people won’t. Also, the device must have never been jail-broken (iOS) or rooted (Android). Rather than just creating awareness, mobile app marketing is about interacting with your audience, being with them throughout the buying journey. Financial services isn’t a sexy topic; people don’t like taking time out of their days to think about it. Moving customers to the mobile channel can drive profitability and improve your ROI. You’re relying on customers to watch your ad (and actually pay attention). Driving mobile banking adoption requires you to examine what barriers stand in customers’ way. The trick is to create engaging experiences that encourage customers to stick around. The mobile channel is the top priority … 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. Simply search for your bank in the app store on your smartphone and download the application. 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. There will still be costs associated with reaching offline customers, but it will be far less than the cost of ads. The trick is to create engaging experiences that encourage customers to stick around. When regular mailings go out to customers, insert a flyer about your mobile and online banking using the same techniques as mentioned above. Don't overdo it though. And some of the more traditional methods financial institutions use to promote their offering are not well suited to promoting mobile banking. There are over 50M mobile subscribers and there are only 5-7M Bank account holders. 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