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Published by: Javelin Strategy & Research
Published: Feb. 1, 2007 - 12 Pages
Table of Contents
Overview
Primary Questions
Findings & Analysis
Look Beyond Email Alone When Communicating with
Customers Online
Utilize Consumer Concerns and Issues to Create Effective Online Outreach
Accurate Behavioral Targeting Is Integral for Online Communication
Appendices - Additional Data on Consumer Online Communication Preferences
Table of Figures
Figure 1: Consumer Preferences Vary Regarding Online Communication with FIs
Figure 2: Online Bankers More Likely to Use Email to Communicate with their FIs
Figure 3: Openers More Interested in Email with Sender ID than Deleters and Non-Clickers
Figure 4: More Consumers Choosing to Communicate Online with their Financial Institutions over Time
Figure 5: Younger Consumers Prefer to Communicate and Manage Accounts Online
Figure 6: Pure Openers 15% More Likely than Deleters to Download a Special Browser to Ensure Security for Transacting Online
Figure 7: Message Center Preferred for Marketing-Related Email by Most Consumers; Pure Openers Greatly Prefer Email with Sender ID
AbstractThis report provides recommendations as to how financial institutions should alter their email and online communication strategies to create a customer-centric, multi-pronged approach to reaching customers. Only with consistent, highly targeted messaging will FIs be able to realize returns on investment in the channel. Based on extensive Javelin data around consumer behav-iors and preferences when transacting online and qualitative interviews with seven of the top ten US banks and email marketing executives from other industries, this report lays out best prac-tices for email marketing strategies, and tracking and targeting recommendations.
Primary Questions
• Which online communication methods resonate most with consumers?
• How are financial institutions using email to meet marketing, cross-selling, revenue, and online channel adoption goals?
• How can financial institutions leverage consumers’ security and other concerns to drive online channel interaction?
• What email strategy enhancements can maximize efficiency of efforts and resources?
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