how to promote mobile banking

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. Some financial institutions have a younger, tech-savvy customer base that are more inclined to adopt mobile banking. 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. The perfect opportunity to promote mobile banking is when customers visit your branch. 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. It begins with the launching of your mobile app, progresses to customer engagement and finally moves to improved performance through regular customer feedback. 36% use it to pay bills. You will likely see offers or advertisements for this app on the bank’s website or in the branches. Your Educate customers on how-to use your new tech. In fact the majority are interested in banking online and digital tools. This campaign should be effective for reaching customers who do not go to bank branches. Step Mobile Banking Promotion. Mobile Banking in Pakistan is a very potential area. Why should they pay attention? To build a potentially successful mobile banking app, there needs to be a balance between must-have and experimental lifestyle features. Not all promotional tactics are built equally. And some of the more traditional methods financial institutions use to promote their offering are not well suited to promoting mobile banking. Influencer Sharing. It also assumes customers will have great mobile and online banking experiences. Now that you’ve built your mobile app, it’s time to start marketing it. In some circles, mobile banking and SMS banking are synonymous. If it’s too much effort to change, people won’t. If you are going to engage people with social ads, make sure that you’re careful about it. The trick is to create engaging experiences that encourage customers to stick around. 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. Like direct mail and TV ads, print ads serve entirely as awareness pieces. Simple stormed onto the banking scene as an online-only entity with a mission to make mobile banking as easy as possible. Simple: Best Mobile Banking App for Money Management. 66% of bank customers use their mobile device to view account balances. But change isn’t. Why? • Phone calls from the customer to the bank's customer service. 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. Financial services isn’t a sexy topic; people don’t like taking time out of their days to think about it. Join Step Mobile Waitlist! … The main reason is that ads aren't necessary. That’s because SMS banking uses text messaging -- the iconic activity of cell phone use. This isn’t to say older customers won’t adopt new tech. Because while your tech is convenient, change isn’t. 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. Existing customers are already loyal and have a relationship with the bank, which reduces friction to any type of advertising directly from the bank. Leveraging the power of influencers can be the best way to drive mass amounts of traffic to your mobile. These include: • Inside a bank branch. With banners, various tests can be done at a relatively low cost, with learnings applied to more expensive channels such as direct mail. Rather than just creating awareness, mobile app marketing is about interacting with your audience, being with them throughout the buying journey. Its unique cool blue colour background gives it a more appealing interface for customers to enjoy a unified and streamlined banking experience whilst going about their day to day activities. Telling people how great your mobile banking app is (in most cases) won’t drive adoption. The Bank’s award-winning and dynamic mobile banking application has been redesigned with improved security and self-service features to ease the navigation capability and proficiency of customers. You can raise awareness, educate customers, and incentivize adoption all within one experience. If so, the rep should ask the customer if they are aware of these resources. These existing customers are already within the bank's ecosystem. 27. 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. Then for people to navigate (essentially unprompted) to the app store, and download a banking app — instead of continuing to watch TV. As with most other electronic and … Promoting your mobile and online banking presence to them is an effective and cost-efficient way to grow the use of these great resources. Also, the device must have never been jail-broken (iOS) or rooted (Android). This chart explains the primary reason why banks want customers to move to mobile The other reason is the ability to scale up business. Consumers should be able to choose and have control over what they see and what they do. Copyright © Member Access Processing. Means there are … Using banner advertising as well as adding pop-up banners when customers are viewing your web site using their mobile device is a highly effective targeting technique that can promote your mobile banking application. A recent study showed that 38% of millennials have abandoned mobile banking because the process took too long.[2]. But, in reality, mobile app marketing is more than that. But banking isn’t cool (sorry). Typically this is seen in the internet marketer space but it can also be used in mobile app promotion in order to drive high-quality relevant links and traffic to your mobile app’s landing page or download link. One of the biggest mistakes you can make when promoting mobile banking is to focus only on awareness. • Include in regular mailings. Promote it the right way: Mobile Banking App..!! Promoting to existing customers will be far less costly than promoting to new customers. It’s a simple question, but one that’s at the core of successful mobile banking marketing campaigns. This enables you to easily turn email into a … 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. But this means your frontline staff need to be confident a) using your mobile app, and b) recommending it to customers. The Quick On Visa’s 8-Digit Bin Migration, How One Credit Union's Workforce Went Completely Remote, More Evidence That Pandemic Is Accelerating Existing Trends, Combining the Physical and Digital Customer Experience, How Your Online Banking Platform Affects the Customer Experience. 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 … Why should your customers care? Unless your direct mail gives customers a reason to engage (like a chance to win for example) they’re not going to. In push mode, the mobile subscriber … 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. 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. BSP Mobile Banking allows you to use your mobile phone to conduct certain banking functions without having to visit a branch or an ATM. Run an Interactive Marketing Campaign. I often get pamphlets in the mail from my bank, telling me about new features of their mobile app. 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. But first, let’s look at some of the other factors affecting mobile banking adoption rates. When a customer walks into a branch, posters and popups on counters should announce that mobile and online banking access is available. Customers won't like being sold to every time they call customer support. Once customers learn about your mobile and online banking presence, you're likely to see a reduction in cost. It might help to put yourself in the consumers’ shoes. And unless there is a reason for them to do so, they won’t. 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. There’s no magic potion that will quickly persuade a large proportion of your customers to adopt mobile banking. But not all bank and credit union customers are availing themselves of this time saving service. Link directly to mobile banking app iTunes and Google Play app stores. 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. Driving mobile banking adoption requires you to examine what barriers stand in customers’ way. You don’t “try out” a banking app — so PR often doesn’t have a big impact on adoption rates. The trick is to create engaging experiences that encourage customers to stick around. Then show how to reach these resources with instructions on where to get the mobile app and the bank's URL. This is where smart marketing comes in. Existing customers can be reached at points of contact. When regular mailings go out to customers, insert a flyer about your mobile and online banking using the same techniques as mentioned above. But they need more help than younger customers — and often a bigger incentive to change. Enhance Mobile Selling; Use Insights to Meet Unmet Needs; Remove Internal Silos; Deliver Next Gen Customer Support; Increase Customer Value with Open Banking; Combine AI with IoT ‘Future-Proof the Organization A simple way to rectify this is to provide product simulations on your website. Use a mobile banking application. One major barrier to adoption is your customers’ confidence level using your mobile app. Many banks have smartphone apps you can download and access on the go. You can pull them out of a busy line and walk them through how to complete their transactions digitally. So if you’re going to do social ads, you need to give customers a reason to engage and download your app. Don't overdo it though. Begin with a handful—or even just one—and test what works for you and what doesn't. Promoting to existing customers will be far less costly than promoting to new customers. Mobile banking apps are super trendy and have been for a handful of years. You need different tactics.[1]. And unless you’re targeting tech savvy people those ads won’t be enough to drive adoption. When promoting new online banking services, talk as much about the benefits as you do the features of the service. Pamphlets & other direct mail campaigns rely on customers abandoning what they’re doing to learn about your banking app. Today, I thought I’d talk about the promotional tactics that best support adoption. The mobile channel is the top priority … The ones that go beyond awareness to prompt action — and the ones that don’t. There are over 50M mobile subscribers and there are only 5-7M Bank account holders. Moving customers to the mobile channel can drive profitability and improve your ROI. RMN Digital | August 8, 2012 | Asia Pacific, Consumer, Corporate, Mobiles, Regions, Strategy | No Comments. While they're popular device for increasing brand awareness, TV ads aren’t that effective at driving adoption. Most people aren’t looking to wander off from a good time to sign up for mobile banking or download a new banking app. If they don’t believe they can complete transactions correctly, they aren’t going to use it. Make sure the app is created, owned, and operated by your bank. 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