Solid customer acquisition and retention rates are the ingredients for any successful business, including community banks. However, you already know that acquiring new customers can be challenging and stressful. Luckily, the world of mobile marketing offers a wide variety of tools and resources to simplify your marketing efforts and maximize effectiveness. So have a look on some of the best practices to acquire new clients through mobile.
1. Use simple landing pages that provide the right information
Research shows that mobile users won’t stay on your website for longer than 15 seconds, so you don’t have much time to grab their attention and give them the information they need.
When your potential customers click on one of your mobile ads, they’ve already shown the first sign of interest, and it’s your responsibility not to let them down from there on out. Whether it’s a specific offer or a general ad, you should feed them information related to what they clicked on in the first place. Avoid long blocks of text on your landing page. Instead, get straight to the point.
You might wonder how people can or will make a decision in such a short period of time with so little information. The fact is, if your offer is appealing to your audience, they’ll want to chat with one of your representatives and get started right away, so be sure to provide them with the right tools to contact you. Include a visible and easily accessible call or chat button and provide one-click directions to your bank’s nearest location. Make it simple for potential customers to reach one of your banking professionals who can take care of everything they need.
Now that your landing pages are good to go, we need to reach the right people.
2. Partner with a great third-party data provider.
These days, mobile advertising is all about data, and having access to first- and third-party data is extremely important to target the right user at the right time. What’s the difference in first- and third-party data? First-party data is basically all the information you’ve already collected about your audience, while third-party data is any information you can buy from outside sources.
First-party data is great for cross-selling existing customers new and different products. But to acquire new customers, third-party data is a key investment. This information allows you to target audiences by behavioral patterns, interests and hobbies, demographic, income, and even more detailed categories. Because everything mobile users do on their devices is tracked, packaged, and available for sale, getting access to third-party data is relatively simple.
With the power of third-party data and the flexibility of mobile, your campaigns can be hyper-focused. Imagine being able to show your mortgage promo to only those people who have indicated an interest in moving, or advertise your auto loan refinance special to those with loans at your competitors!
For the most access to third-party information at the best price, consider partnering with a professional provider like RAIN which can sort through the stats to identify exactly what data is best for your bank’s mobile marketing needs. RAIN is a full-service mobile marketing technology that specializes in helping community banks grow, with federally-compliant ads that generate clear ROI. Their team helps you connect with your ideal customers while ensuring your campaign meets your goals every step of the way.
3. Don’t forget about those who showed interest in you in the past
All kinds of people are constantly visiting your bank’s website. Whether they’re your existing customers, mobile users who saw your ads, or people who randomly landed there, your site has tons of traffic, and everyone who visits leaves a little digital information behind. Why not put it to good use?
Retargeting tools help you leverage visitor data from your website to send specific marketing messages to target audience groups. For example, if a visitor to your website spends a few minutes on your home equity pages or uses a second mortgage calculator, you can follow up by surreptitiously showing them a series of HELOC ads on their mobile devices.
Retargeting helps your community bank stay present in front of millions of the right eyes. As a bank marketer, you know better than anyone that opening a new account, taking out a loan, or switching banks is hardly ever an impulse move. The more these potential customers see your bank and your targeted offers, the quicker you’ll come to mind when the time for a new financial product or relationship comes around.
4. Target specific areas which have customers you want to acquire
Another great way to acquire new customers through mobile marketing is by targeting specific geographic areas, or geofencing. Blanketing an entire city with the same promotion doesn’t make sense; not everyone has the same needs. But by focusing only on a specific neighborhood, region, or community space where your potential customers live, work, or shop, you’re more likely to reach your target audience and see amazing results with your campaign.
You’ll probably agree that you won’t find many customers willing to open a student checking account hanging out in your city’s financial district. Sure, you might reach a couple of stressed-out interns, but you’d probably be much more successful targeting your local college campus.
Geofencing also allows you to personalize your message and connect with the audience on a deeper level. Include names, colors, and images in your ads that your audience will relate to, such as the neighborhood or the university they attend. People will feel that your ads have been created for no one else other than them.
And finally, but certainly most important:
5. Provide relevant content to all your audiences
None of the previous steps will work if your message is not relevant to your audience. No one will visit your landing page if they don’t first click on your ad. It won’t even matter if you paid for quality third-party data or if you have carefully geofenced the right place.
That’s why it’s very important that you design multiple ads, with different imagery and different copy. Try to word the same message in multiple ways and A/B test each piece of creative. You’ll be surprised by how small tweaks can make a big difference in your ad performance.
No one said that leading a successful mobile marketing campaign was easy, and after going over these five steps, you might feel a bit overwhelmed. It is a lot to take in, and you might want to consider a couple of changes in your mobile marketing practices. However, if you feel like your best bet is to hand it off to the experts, there are multiple agencies who’d like to you out.
RAIN is a full-service mobile marketing technology that specializes in helping community banks grow, with federally compliant ads that generate clear ROI. Their team helps you connect with your ideal clients while ensuring your campaign meets your goals every step of the way.