How can banks leverage web push notification as a marketing channel?

  • May 25, 2018
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As we meet more and more banking marketers the one common thread that is prominent in all our communications is that they are increasingly looking for channels to engage customers outside the website. One of the channels we usually recommend during these discussions is Web Push Notification,

 

A ZERO spend marketing channel which engages users outside the website with their permission.

 

Benefits of Web Push Notifications

Here are some of the reasons that broadly make web push notifications appealing as a marketing channel:

 

There are two keys to maximizing the benefits of this channel:

 

1. The first is to be able to personalize experiences for existing to bank customers as well as new to bank customers

 

2. The second is being able to tap signals from various data sources like

 

Exotic Banking Use Cases for Web Push Notifications

Here are some of the use cases that take you through the customer journey, or what in marketing terms can be referred to as the stages of the marketing funnel.

 

Content marketing: Educating all website users on market trends and insights.

Brand campaign: A notification for brand promotion.

 

3rd Party Data Based Notification: Based on 3rd party data. In this example based on the 3rd party data, the user belongs to the vehicle taxonomy and is shown a notification for an auto loan at a pre-decided time  

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Trigger-based notification:  Users who opt-in and drop off without visiting any page can be targeted with any product (ex. credit card) from the product portfolio.

 

Segment Level Personalisation: User drops off from a product page and is shown a notification for that specific product. In the example below the user has dropped off from the home loan page and is shown a notification specific to that product.

 

 

1:1 Personalisation: User drops off from calculator page of a particular product. As an example, the user has dropped off from the calculator page of personal loans and the notification has been personalized in accordance.

 

 

Services: Prompting users to use services such as standing instructions, mobile banking, internet banking, etc.

 

 

Cross-sell / Upsell: Users who are eligible for different/upgraded products can be sent name based notifications. In this example, based on the next best offer, an auto-loan is being promoted to Vishal.  

 

 

Time-based notification: Prompting users to link Aadhar card with their bank account

 

 

The Next Level – Web Push Notifications with an Image

 

So, that was the array of banking use cases possible using web push notifications. The impact of these use cases can be amplified by using web push notifications with an image. Here’s an example of how any web push notification with an image would look like.

 

Images are likely to influence users more due to higher visibility of the notification. Further using an image with the notification will resonate well with users with an intent to make a purchase.

 

That’s about it from my end!

 

Is there any specific use case that comes to your mind in relation to web push notifications? Please share your thoughts in the comments section below.  

 

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