by Amy Neale
So, it’s no secret that cell phone use, especially
smartphones, has been increasing year after year. Mobile is becoming a
marketing standard in member engagement. Has your credit union taken the time
to figure out how to best leverage the typical “mobile member”?
A recent study by Maxymiser surveyed U.S. consumers who
owned at least one computer, tablet and smartphone discovering that nearly
three-quarters of the respondents visited a banking website or mobile site more
than five times per month. And another study from Pew Internet & American
Life Project showed that 35% of its respondents banked on their mobile phones –
especially those in the 18 to 29 year old age group.
Financial institutions nationwide are standing up and taking
notice of this continuing mobile trend. Forrester Research estimates that the
financial service industry will spend around $837 million on mobile marketing
in 2013. They project that number will grow to $1.61 billion by 2016.
Many credit unions are unsure of the best way to approach
the mobile member. The marketing experts at CU Solutions Group have a few
suggestions. Some of these your credit union might already utilize, others
might be worth looking into:
- Online
applications – Since most members are looking to apply for loans online,
the days of having a PDF of an application on your site for members to print,
fill out and bring in are numbered. It’s time to offer online loan, credit card and membership
applications. Get them while they’re interested – and make sure it’s
mobile-friendly!
- Mobile marketing – From banner ads
to text messages, this is often an untapped resource for many credit unions.
Think about including text-based contests or sweepstakes to drive member
engagement.
- Responsive design – Many credit unions have already jumped on the mobile site bandwagon – but it’s now time to think about how members use your website. Many move from phone to tablet to laptop and back throughout the day. Responsive design will ensure your website looks great and delivers the best member experience through all devices.
If you haven’t already, the time to engage your mobile
member is now – before they decide to switch to a more mobile-friendly
financial institution!
Two issues come to mind as a highly mobile and time strapped Credit Union member: 1) When I get to your site I'm usually trying to do check my accounts, making logging in or authenticating my account should be easy - yet secure. Two factor authentication should be mandatory. At the same time, passwords are antiquated and easy to crack - implement swipe gestures! 2) User Interface. Nothing is more of a pain than trying to navigate everything the CU wants to offer me - before I even get to log in. Remember: I'm time strapped. I'm not going to go to your mobile page to consider an auto loan. I'm just not. Seriously, put some analytics onto your mobile side: how many hits do you get on the loan pages that last long enough to read the content? Keep information out there, but make it so I can get right into my accounts without having to go to it. I'll appreciate it, and you, more. Remember: a mobile site is only a good place to advertise IF you are pitching to non-members. But members are the ones who are most likely to go to your mobile site.
ReplyDelete