Push notifications for BFSI companies are proving to be more effective than other channels.
Now, if you’re a marketer in the BFSI sector, you’re probably always on the hunt for new, innovative ways to reach out to your customers.
And guess what? Push notifications might just be the secret sauce you’ve been looking for.
Think about it. These little pop-ups have the power to amp up customer engagement and satisfaction, all with a simple, timely ping. But the trick is in using them right. Blast too many, and you risk annoying your users. Too few, and you might fade away into the background.
But when you find that sweet spot – the right message at the right time – push notifications become more than just a tool. They become an integral part of your digital marketing strategy, helping you foster connections that are not just efficient but meaningful too.
So, next time you’re pondering about how to enhance your customer interaction, remember the potential of push notifications waiting to be tapped.
What are Push Notifications?
Push notifications are direct messages sent to a user’s mobile or desktop device. They can appear even when the user is not actively using an app or website, making them a powerful tool for catching the attention of the user. In the context of a BFSI company, these notifications can provide a range of benefits, from sending personalized offers to giving timely updates about their services.
Imagine a customer awaiting a crucial stock market update or a change in their account status. An email might go unnoticed for hours, but a push notification? It’s there, it’s immediate, and it’s personal.
So, when you think about push notifications for BFSI companies, remember – it’s not just about sending a message. It’s about opening up a direct, real-time line of communication with your customers and enhancing their experience with your services.
Push notification example
The Relevance of Push Notifications in the BFSI Sector
In today’s high-speed world, being in the know is everything – especially when it comes to our finances. And no one understands this better than the BFSI sector. This industry lives and breathes real-time information.
Imagine it’s you who’s a customer – you’d definitely want to be the first to know if something changes in your account status, right?
Or perhaps you’ve got investments that you’re tracking; naturally, any updates on them should land in your lap at once. And we can’t forget the importance of being informed about new products or services as soon as they’re launched.
You see, that’s where push notifications come in.
Think of them as the friendly postman of the digital world, always at your doorstep with fresh news. These aren’t just any messages; they’re timely, relevant, and personalized just for you. They don’t believe in delays or dilly-dallying. They’re all about delivering information in real-time.
And for BFSI companies, they’ve proven to be just the tool they need.
Personalized Push Notification – BFSI sector
When it comes to reaching out to their customers with the latest updates or alerts, push notifications are their go-to. It’s a simple yet efficient way to ensure no customer is left in the dark.
In fact, the impact they’ve made in this sector can’t be understated, and that’s why we’re seeing more and more BFSI companies adopting them.
Here’s a story of how TVS Credit achieved a 2.2x increase in push notification delivery
So, it’s clear as day, isn’t it? Real-time information is key in the BFSI sector, and push notifications are leading the charge in delivering it.
5 Ways BFSI Companies Can Use Push Notifications
BFSI companies can utilize push notifications in a multitude of ways:
a. Timely Updates:
Timely Updates – BFSI sector push notification
Let’s face it; we’re living in a world that’s always on the move, right? So, why should your banking information be any different?
Imagine you’ve just made a big purchase, or there’s been a significant change in the financial market that impacts your investments. You’d want to know immediately, wouldn’t you?
That’s where push notifications shine. BFSI companies can utilize push notifications to offer real-time updates about your account status, transaction details, and even shifts in the financial market.
b. Personalized Offers:
Personalized offers push notification
We all like to feel special and understood, especially when it comes to our banking needs.
With push notifications, BFSI companies can make this a reality.
They can analyze your banking behavior and preferences to send you personalized offers that cater to your needs. It’s like your bank saying, “Hey, we noticed you like this, so here’s something tailor-made just for you!”
Isn’t it amazing to have services that feel like they’ve been crafted just for you?
c. Reminder Alerts:
Ever forgotten about a due payment or an upcoming appointment? It happens to the best of us.
Thankfully, BFSI companies have a solution to that too. By using push notifications, they can serve as a personal reminder service.
Whether it’s a payment due, policy renewal, or an upcoming appointment, push notifications will keep you on top of your schedule. It’s like having a personal assistant who’s always there to make sure you don’t miss anything important.
Reminder alert – push notification
d. User Engagement:
Engaging users isn’t always about transactions or account updates, is it?
Sometimes, it’s about sharing valuable content, tips, or insights that can help customers manage their finances better.
This is another area where push notifications for BFSI companies come in handy. They can share financial tips, investment insights, or industry updates that users would find useful. It’s like your BFSI company becoming a trusted advisor helping you navigate the financial world.
e. Customer Retention:
Now, we all know that attracting new customers is important, but retaining existing ones is equally crucial.
BFSI companies can use push notifications to reach out to customers who’ve become a little inactive or disengaged.
By sharing enticing offers or crucial information, they can draw these customers back in. It’s like your BFSI company saying, “Hey, we’ve missed you, why don’t you check this out?” It’s a gentle nudge that can bring customers back into the fold, making them feel valued and important.
How Push Notifications Enhance Customer Experience
Push notifications offer an unprecedented level of convenience to customers in the BFSI sector.
They empower customers to take control of their finances by staying informed about their account status, transactions, and more. By customizing the type and frequency of notifications, BFSI companies can ensure that their customers are receiving only the most relevant and valuable information. This leads to improved customer satisfaction, fostering loyalty and long-term engagement.
1. Taking Control
Imagine push notifications as your own financial compass.
They guide you, keeping you updated about your account status, transactions, and more. It’s like your own financial guardian angel, always ready with the updates you need.
With push notifications, you’re in the driver’s seat.
2. Customized Notifications
Everyone has unique preferences.
Maybe you want constant updates, or perhaps you prefer less frequent ones.
Push notifications can be customized to the type and frequency of notifications just for your customers. No more sifting through irrelevant information.
It’s like having your personalized newsfeed, where everything you see matters to you.
3. Improved Customer Satisfaction
When you feel catered to and taken care of, your satisfaction naturally shoots up.
That’s exactly what happens with push notifications.
They deliver timely, tailored information, boosting your satisfaction levels. Imagine walking into your favorite restaurant where everyone knows your name and your favorite dish. That’s the level of satisfaction we’re talking about.
4. Fostering Loyalty
Here’s a fact: Happy customers are loyal customers.
By using push notifications, BFSI companies aren’t just providing a service; they’re building a bond with you.
They foster loyalty and keep you engaged for the long term. It’s like forming a strong, lasting connection.
Push Notifications Vs. Other Channels
You’ve probably used other channels like email, SMS marketing and in-app messages and have seen the advantages they bring. They’ve stood the test of time and proven their worth. But with the introduction to push notifications, they have been the real “game-changers” in the BFSI sector.
Now, you might be wondering, what’s so special about push notifications for BFSI companies?
Let’s talk about speed first. If delivering your message in a flash was a race, push notifications would be the Usain Bolt.
They zip right into your customers’ screens instantly, no matter what they’re doing, which means your message is far more likely to be seen and read. While your emails might be stuck in traffic, so to speak, getting lost in the whirlpool of promotions and spam, push notifications make a beeline for visibility.
But it’s not just about immediacy; it’s about engagement too.
Have you ever compared the click-through rates of emails and push notifications? Well, I have, and guess who comes out on top? You’ve got it—push notifications. It’s hardly surprising.
A whopping 70% of customers find push notifications helpful. In fact, 52% are on the lookout for relevant information and offers from these notifications. And the engagement doesn’t stop there. 40% of your customers aren’t just looking—they’re clicking. They’ll interact with your push notifications within an hour of receipt. It’s a level of speed and engagement that’s hard to ignore.
And here’s the cherry on top.
Push notifications for BFSI companies can be tailored to match the behavior and preferences of your users. It’s like you’re providing a bespoke shopping experience, making your customers feel valued and catered to.
This personalization makes push notifications far more engaging and relevant than traditional email or SMS, which tend to have a one-size-fits-all vibe.
So, instead of receiving a generic message, your customers get something specifically crafted for them. And let’s face it, who doesn’t like that personalized touch?
So, if you’re looking for immediacy, engagement, and personalization in your BFSI digital marketing, push notifications have a significant edge. They’re swift, they’re engaging, and they’re custom-made.
13 Ways How Push Notifications Can Benefit BFSI Companies
To get started with push notifications, BFSI companies first need to define their goals.
Are they looking to increase user engagement? Or perhaps they want to improve customer retention?
Once the goals are clear, it’s time to segment the audience based on factors like user behavior, demographics, and preferences.
The next step is to craft personalized and engaging messages that resonate with each segment.
Lastly, it’s important to regularly measure and analyze the performance of the push notifications to optimize their effectiveness.
Here’s a list of that BFSI companies can benefit from using push notifications
1. Gaining Consumer Insights
Understanding your customers is key in the BFSI domain. They appreciate alerts about security, fraud prevention, avoiding problems, and feedback opportunities.
And that’s where push notifications come into play. By analyzing your customers’ interaction with these nifty notifications, you can better grasp their perspective. It’s like having a little window into their thoughts and preferences.
2. Instantaneous Messaging
In the BFSI world, information has to move faster than a falcon in flight. Changes in the stock market, financial trends – you name it, your customers need to know about it pronto.
While other communication channels have their place, push notifications are unbeatable when it comes to speed. Like a friendly tap on the shoulder, they deliver your message directly to active users.
3. Boosting Cross-Selling & Upselling
Trying to cross-sell or upsell products used to feel like uphill battle. But thanks to push notifications for BFSI companies, these challenges are becoming a thing of the past. By boosting engagement rates, push notifications are reshaping the game.
4. Engaging Personally
The magic of push notifications lies in their ability to connect with customers on a personal level, even when they’re not on your site. It’s like having a friendly chat with a new visitor or a long-standing customer, regardless of where they are.
5. Non-Intrusive Communication
Push notifications strike a perfect balance – they communicate efficiently without coming off as pushy. Customers who opt-in to receive updates find these messages engaging and non-intrusive. It’s a refreshing change from bombardment by unwanted communications.
6. Transactional Updates
Push notifications can be a lifeline for BFSI companies, sending reminders for payments, due dates, and more. Their instant delivery ensures faster responses and timely actions. It’s like having a reliable assistant reminding you of important tasks.
7. Fostering Brand Affinity
Crafting unique and personalized push notifications that resonate with your customers can elevate their experience to a ‘WOW’ level. By doing so, you can encourage more loyalty and raise your brand affinity. It’s like delivering a personalized gift to each customer, wrapped with care.
8. Hard-to-Miss Messages
With push notifications, your message is front and center, catching the user’s attention like a pop-up book. No more worrying about low email open rates!
9. Cross-Platform Accessibility
Push notifications transcend boundaries, delivering messages across all digital platforms without a hitch. No need for a separate mobile app. It’s about reaching your customers, wherever they are, without any delay.
10. Direct, Actionable Messages
In today’s fast-paced world, users appreciate direct, to-the-point information. Push notifications hit the nail on the head by directing users straight to the desired webpage. It’s about cutting to the chase effectively and efficiently.
11. Location-Based Information
Picture this: your customers receive offers from retailers or restaurants near their location, all thanks to your push notifications’ geo-location feature. The level of personalization here can lead to incredible results.
12. Gathering Feedback
Seeking feedback is vital in the BFSI sector. With push notifications, you can gather feedback easily, thanks to their real-time nature and brevity. It’s like having an instant, convenient feedback form at your fingertips.
13. Alternative to Emails
Push notifications can be a great alternative to emails, broadening your marketing reach. They can help you communicate directly with customers about offers, discounts, and new products, enhancing response rates with targeted and segmented notifications.
Choosing the Right Push Notification Platform
In the hyper-connected world of today, BFSI companies must leverage every tool at their disposal to engage with their customers effectively.
Push notifications offer a powerful, personalized, and instant way of communication that can greatly enhance customer experience. When implemented correctly, they can help BFSI companies achieve higher user engagement, improved customer retention, and, ultimately, increased revenue.
Selecting the ideal push notification platform demands strategic thought and careful analysis. Bear in mind it’s not just about transmitting messages—it’s about forging solid, enduring connections with your customers.
Regardless if you’re just spreading your startup wings or if you’re a well-rooted enterprise, Netcore provides an all-encompassing push notification platform. It equips you with the tools to craft vibrant, customized, and automated push campaigns that will strike a chord with your audience.
But why just take our word for it? Schedule a demo with Netcore today and uncover how our platform can rocket your business to unprecedented heights.