Many industries were quick to adopt and adapt to the digital revolution. Easier, non-risk businesses saw their customers quickly converting from traditional to online interactions and transactions. Banking, however, took a while to make a complete shift. The global tech-first revolution in banking is now making its impact felt through neo banking.
Neo banks are financial institutions hosted entirely on the internet. They have no physical presence (no bank branches) and offer all services online – usually through websites or apps. Digitally functioning neo banks are especially popular among millennials and Gen Z, given their comfort with mobile tools and preference for speed, ease of use, and on-the-go convenience.
However, like traditional banks, neo banks must also run email marketing campaigns to attract and welcome new users, assist them along their customer journey, encourage conversions, and perform retention activities. AMP emails are found to be perfect for achieving this – as you can make your messages visually appealing and interactive, like websites and apps.
Thanks to their dynamic and interactive components, AMP emails enable customers to complete their interactions and transactions, get confirmations, and receive real-time updates right inside the inbox.
Here are a few proven ways in which AMP emails can benefit you: reduce drop-offs, increase conversions or turn prospects into valuable, qualified leads – all without requiring them to click through to an external webpage.
Provide account opening and onboarding assistance
The complexity, legal bindings, and jargon around financial products will likely overwhelm most of your customers. When someone opens a new account, use AMP emails to present introductory information in bite-sized, easy-to-understand ways.
Use amp-img and amp-anim to include images and gifs that visually simplify the core concepts. If you must include text, use amp-accordion to present it as collapsible sections – it occupies less screen space and doesn’t put users off with a wall of text.
Collect customer requirements for targeted service provision
Once a customer signs up, use amp-form to get data on what they are looking for or their priorities – specific loans, investment opportunities, financial planning assistance, long-term or short-term deposits, retirement funds, etc.
Pair this with the amp-autocomplete component, which creates autofill text fields and search bars to help users quickly enter the details. You can also use amp-selector to integrate drop-down menus and checkboxes that allow one-click inputs from users.
Additionally, with the amp-bind component you can create calculators within your emails by which customers can instantly compute monthly installments, tenure, lock-in periods, final payout amounts, and more. Users can thus narrow down their choices and move to a decision faster.
Deliver educative content based on user preferences
Once you know what a user wants from their banking experience, start sharing relevant content to help them dive deeper into the topic. For example, if someone expresses an interest in systematic investment plans and/or retirement planning, send targeted content that describes the relevant products and their benefits in detail.
Here again, use the amp-img, amp-anim, amp-accordion and amp-carousel components to present information in appealing formats that don’t overrun screen space. If the content is too text-heavy, use amp-fit-text and amp-sidebar components to present it in a reader-friendly manner.
Besides, if certain products on promotion also match the user’s needs, use amp-image-lightbox to highlight its hero image at the center of the screen.
Deliver real-time updates for specific products
Specific financial instruments, such as stock market investments, call for instantaneous, real-time updates. The amp-list component can pull live data into emails, providing real-time content that automatically reflects changes.
The component also helps customers track progress of applications, purchases and other actions that require live monitoring.
Recommend the right products
Analyze user preferences to recommend relevant products in attractive ways using amp-img, amp-anim, and amp carousel (multiple images in a swiping carousel format). Give users all the details they need to make the perfect choice right within the email.
Insert checkboxes, dropdown menus and filter options with amp-selector; and multi-step or simple forms, chatbots and autofill text fields with amp-form. These make it quick and easy for users to select and switch to their chosen product. Don’t forget to use the amp-autocomplete component that enables you to give relevant word completion suggestions based on a few letters typed by the users.
When recommending products, add a touch of personalization to connect better with users. The amp-mustache component helps you add users’ first names to emails, even as part of a bulk marketing exercise.
Make product searches an effortless experience
Build an in-email search bar with amp-autocomplete to suggest products based on user-entered keywords or phrases. The amp-sidebar component can display links to related products and services on the side layout of the mail, encouraging the user to click and explore more.
When your users get a website/app-like experience within emails, you minimize drop-offs and lead leakages.
Provide relevant notifications that compel attention
Financial products are highly regulated and require customers to be acutely aware of specific data points. For example, your bank might have to notify customers about legal changes, updates to existing product agreements, or upcoming deadlines. You might also have to inform customers about recent log-ins to their accounts.
Present this information using amp-accordion, amp-image-lightbox and amp-carousel. In case of deadlines or other time-dependent information, use amp-timeago to create automatically updating information (e.g., “5 days until your document submission deadline!”).
Compare products to help users choose the right one
Most customers do not purchase the first product they see. They conduct their own research, compare brands, read other customers’ reviews, and then make their choice. Your AMP emails can help make this process easier and quicker for them.
Once you know the customer’s larger goals, use the amp-carousel component to showcase and compare different products relating to those goals. Add amp-selector so users can select the product they want with a single click.
Assist customers with a help desk
Customers invariably need assistance with policies, plans, compliance requirements, legal understanding, and other aspects of their financial interactions. Quick resolutions/clarifications will lead to faster conversions.
Interactive chatbots in AMP emails allow you to create and offer a 24/7 interactive help desk within the inbox. Use amp-form, amp-selector and amp-autocomplete to create chatbots that can resolve queries and keep customers engaged inside emails.
Onboard loyal customers to referral programs
Keep loyal customers happy and turn them into brand loyalists by offering them the opportunity to win prizes by referring their friends and connections. Get them interested in the referral programs with gamification – puzzles, quizzes, trivia, scratch cards, wordle, spin the wheel, etc. – that they can play to win rewards based on their referrals.
AMP components like amp-bind, amp-img, and amp-mustache can be combined to bring attractive and engaging games into emails.
Collect feedback in a few clicks
Like any other digital organization, neo banks must consistently improve and evolve to stay competitive and valuable to customers. Collecting user feedback is essential to address service gaps and improve ways to serve and retain customers better in the long run. With AMP emails, collecting extensive feedback is possible right within the inbox.
Use amp-form and amp-selector to collect instant feedback and suggestions from users through checkboxes, in-email forms, and radio buttons. You can also integrate star-ratings and text inputs within emails to help customers give feedback in minutes.
Present social proof through user testimonials
Financial instruments require actual monetary investment, and most people are naturally wary of trusting them without sufficient research or assurance. Displaying testimonials from other customers who received positive results from your products is a great way to assure users to go ahead with a purchase or investment.
Use in-email forms to request testimonials from users who got rewarding returns from one or more of your services. Present them within your marketing emails as social proof, using amp-img, amp-anim and amp-accordion.
If testimonials are too text-heavy, use the amp-sidebar and amp-fit-text components to use screen space attractively.
In conclusion
Considering their nascent stage, neo banks need to put their best customer service foot forward to nurture, assist, and guide customers to meet their goals. Digital banking has seen significant adoption, yet a majority of the people are still hesitant to blindly sign up for products, services and practices that they don’t have an in-depth understanding of.
AMP emails can help break down ideas and market relevant products in easy, attractive ways. They are ideal for getting customers more engaged in financial planning, which invariably leads to lower drop-offs, increased conversions, improved engagement, and higher ROI.
50+ top-notch brands, such as YourStory, Axis Securities, and CaratLane, across industries, partner with the Netcore Cloud AI-powered email platform to roll out AMP emails and boost their ROI. We have sent more than a billion AMP emails across 200+ highly successful campaigns.
Our AMP email wizards consult to achieve your specific KPIs and email marketing goals. Netcore Cloud makes creating AMP emails easy. You can even design custom use cases yourself using the Netcore no-code drag-and-drop editor in just three clicks.
Connect with us to understand how you can benefit from our expertise and experience – we send over 20 billion emails a month on behalf of businesses across 18 countries.
