Fintech (financial technology) apps bear a heavy responsibility. We trust these apps to manage our bank accounts, personal budgets, insurance payments, and more.
Sometimes users opt in to push notifications from too many apps, and they get in the habit of ignoring certain messages. But few people would instinctively ignore a push from their bank or stockbroker.
With great power comes great responsibility. The sensitive nature of finance apps means they can easily grab users’ attention with push notifications — but if the content isn’t urgent or valuable, apps risk losing user trust.
Nonetheless, it’s possible for finance apps to plan effective messaging campaigns that aren’t purely transactional. Here are four campaign ideas to get you started.
Push Notifications From Personal Finance Apps
Source: Google Play
Normally, budget-related push notifications would fall under the category of transactional messages. A bank’s low balance alert probably isn’t intended to lift user engagement — it’s a user experience tool to help people avoid overdraft fees. But for personal finance apps, push notifications can actually help people utilize the product and build better budgets.
Over time, users of budgeting apps like You Need A Budget and Mint develop personalized categories and spending limits to suit their needs. However, each user must manually create purchase categories and savings goals. Thanks to all the manual effort involved, some will end up under-utilizing the app.
Push notifications can help alert users of suboptimal or incorrect settings. Let’s say a person sets their monthly spending limit on restaurants to a particular value, but they exceed the budget by $50 several months in a row. The app could alert the user with a push notification and suggest changing the spending limit. This would help the budget better reflect the person’s actual spending habits, making the app more valuable as a whole.
Apps can also help users reach savings goals. Budgeting apps can send alerts once users are approaching their spending limit for the month to make sure they don’t forget to put money aside. The notification could even reveal which categories they’re overspending on so they’ll know where to cut back.
Emails From Insurance Apps
Source: Google Play
Insurance apps like Metromile and Lemonade operate in a complex industry. Consumers might not understand the finer points of car and home insurance. Normally, this isn’t a problem — many insurance providers try to make the process intuitive to people without much background knowledge. However, there are situations where understanding the fine print can help you save money and mitigate risk.
Email newsletters are a good way to keep users informed and engaged. A general purpose newsletter can talk about different types of insurance, how much coverage you get for different plans, and what happens when you file a claim.
Of course, emails can be personalized too. Apps can send customized messages to users of a particular Go to the full article.
Source:: Business 2 Community