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As email marketers with 10+ years of experience<\/a> on our side, you can trust us when we say that email is right for your business. <\/p>\n\n\n\n In this guide, you\u2019ll catch a glimpse of how email marketing can help you acquire, maintain, and retain customers. Let\u2019s get started! <\/p>\n\n\n\n Banks and other financial brands spend tons of money in paid media to justify the high potential lifetime value of their customers. However, only a handful of financial service providers have a rock-solid lead gen strategy in place. <\/p>\n\n\n\n Email is the missing low-cost, high-yield slice of the omnichannel pie. Marketers who recognize it incorporate email opt-ins in all their campaigns<\/a>. <\/p>\n\n\n\n In addition, email enables marketers to provide proactive customer service, aligning well with the current trend of self-service. Especially among younger consumers. It can also decrease the need for expensive traditional service options like call centers and in-person consultations. <\/p>\n\n\n\n Permission is a priceless commodity in marketing, especially in financial marketing. <\/p>\n\n\n\n \u201cBusinesses must provide clear and truthful information about how individuals’ data will be used. Consider how the Consumer Financial Protection Bureau filed the U.S. Bancorp for illegally exploiting customer data; this type of relationship can only hurt past and future customers,\u201d reminds<\/a> Will Kenton, founder of Falcon, a private equity talent platform. <\/p>\n\n\n\n The good news is: Email marketing is permission-based. <\/p>\n\n\n\n Businesses that engage in email marketing aim to send messages that are closely related to what their subscribers want, respecting their choices and privacy. <\/p>\n\n\n\n Those who follow best practices build their email lists organically, only contacting customers who have chosen to subscribe.<\/p>\n\n\n\n The digital space is cluttered, and people face an overwhelming amount of content. Excessive irrelevant content can annoy subscribers. <\/p>\n\n\n\n But email can help clear this clutter by delivering personalized messages<\/a> that align with subscribers\u2019 interests and behaviors. Sending the right email to the right person at the right time prompts user action and keeps them engaged with a brand.<\/p>\n\n\n\n In the current financial services landscape, over 70%<\/a> rate personalization as Highly Important. In view of that, email is your top horse.<\/p>\n\n\n\n After launching your email marketing campaign, you can create multiple campaigns for your business and set up workflows to manage them effectively. <\/p>\n\n\n\n Email marketing automation tools help you send automated emails that are highly relevant to your leads and subscribers.<\/p>\n\n\n\n Email marketing is measurable<\/a>. You can track the performance of your emails after sending them to subscribers and analyze the results. <\/p>\n\n\n\n Metrics like open rates, click-through rates, bounce rates, etc. provide insights into what worked well and what needs further improvement.<\/p>\n\n\n\n The more you engage with the audience, the better the scope of conversion. Smart marketers send regular email newsletters, promotions, and triggered emails. <\/p>\n\n\n To have a successful email outreach, brands should ensure their emails are not only well-designed, but meet the latest email security standards<\/a>, too. <\/p>\n\n\n\n Andriy Zapisotskyi, founder of GrowthMate, tells us that security standards and protocols for email software focus on:<\/p>\n\n\n\n Catch Zapisotskyi\u2019s detailed rundown on email security<\/a>. <\/p>\n\n\n\n Financial brands need to confirm that their ESP vendors have ISO certification. ISO 27001 is a highly effective standard because it provides guidelines for an information security management system (ISMS), which helps manage confidential information and ensure safety. <\/p>\n\n\n\n Double opt-in is an approach used by email marketers to ensure that subscribers really want to receive emails from them. <\/p>\n\n\n\n This process involves an extra step for subscribers<\/a>, who must click on a link in a confirmation email to finalize their subscription. This is how it works:<\/p>\n\n\n\n A person becomes interested in your brand and signs up for updates, discounts, and insights. After entering their email, they receive an automated email asking them to confirm their subscription. This email contains a link that they must click to agree to receive content from your brand. Once they click the link, they are added to your email list and will start receiving your content.<\/p>\n\n\n\n Segmentation is a valuable tool for email marketing. To connect with your audience, you need to understand them better and craft campaigns that speak to them personally. Each subscriber is unique and wants to be recognized as an individual.<\/p>\n\n\n\n If you don\u2019t segment your audience, you might end up pushing away many of them, leading to unsubscribes or spam reports. <\/p>\n\n\n\n By segmenting your list, you can customize your messages to better address the needs of different groups of subscribers.<\/p>\n\n\n\n Building a personal connection with your subscribers is key for boosting audience engagement. Here are a few ways of personalizing email campaigns<\/a>:<\/p>\n\n\n\n Send birthday or anniversary emails for a personal touch.<\/p>\n\n\n\n Crafting an urgent, transparent, and non-salesy subject line<\/a> is considered a critical deliverability best practice. <\/p>\n\n\n\n Chad S. White, email marketing expert, recommends the CUE-DIVE<\/a> method of writing good subject lines and preview text. The CUE-DIVE framework requires your subject line to be Contextual, Urgent, Emotional, Detailed, Intriguing, Visual, or Earned. Consider the following real-life subject lines: <\/p>\n\n\n\n The above subject lines all fit into the CUE-DIVE framework. <\/p>\n\n\n\n In email marketing, email automation is a process whereby relevant, personalized emails are \u201ctriggered\u201d based on subscriber engagement. <\/p>\n\n\n\n Triggers form the basis of automation. Any action a subscriber takes will trigger the relevant email workflow, which will send the right email to the subscriber.<\/p>\n\n\n\n Here are a few scenarios for automation in email marketing for banks<\/a>: <\/p>\n\n\n\n Now, that\u2019s just a template. In reality, email automation can be quite complex. Why? Because customer journeys are complex. <\/p>\n\n\n\n As Jordie van Rijn and Gavin John emphasize<\/a>, \u201cA long path to purchase requires lead nurturing. The path to purchase in finance can be quite extensive. Financial products aren\u2019t impulse purchases.\u201d<\/p>\n\n\n\n Automated drip campaigns<\/a> can be highly effective when done correctly. The goal is to send a series of emails over time without overwhelming subscribers.<\/p>\n\n\n\n \u201cEvery time there\u2019s a change in economic conditions, bank marketers react by sending more emails,\u201d points out<\/a> John Hendricks, founder of ERGO. <\/p>\n\n\n\n Email frequency can be tricky to master. But the rule of thumb is: Send relevant content to your audience. <\/p>\n\n\n\n For a new subscriber, a typical drip campaign might look something like this:<\/p>\n\n\n\n \u201cPeople view automated drip campaigns as \u2018set it and forget it.\u2019 This is partially true. But to constantly improve performance you need to constantly test,\u201d argues<\/a> Jean Jennings, founder, Email Optimization Shop.<\/p>\n\n\n\n What\u2019s the best time to send marketing emails<\/a>?<\/p>\n\n\n\n There\u2019s no single answer to this question. One reason is that your audiences may have different behaviors when it comes to email opens. Some may have more opens over the weekend than on weekdays, while others may have more opens on weekdays than over the weekend. Similarly, some may have higher opens in the morning hours compared to other times of the day. <\/p>\n\n\n\n There\u2019s no single best time or day to send emails for everyone. Instead, you need to find the optimal time for each subscriber and send emails accordingly.<\/p>\n\n\n\n Creating mobile-optimized email campaigns<\/a> is a must. This is where responsive design comes in. Designing for devices. Designing for people. Email marketing and responsive design are intrinsically linked. Here are its key advantages:<\/p>\n\n\n\n \u201cMany subscribers will read emails on their smartphones before jumping onto your app to manage their banking,\u201d reminds<\/a> Monica Hoyer, founder of Emfluence.<\/p>\n\n\n\n Consequently, mobile-first design is non-negotiable in email marketing. <\/p>\n\n\n <\/p>\n\n\n\n A transactional email<\/a> is sent to a user after they take an action. Examples include order confirmations and welcome emails.<\/p>\n\n\n\n Because users are expecting them, transactional emails enjoy a high open rate. In fact, these emails generate 6 times more<\/a> revenue than marketing emails because they include links to other products or services. <\/p>\n\n\n\n \u201cLeverage your transactional emails (like statements, receipts, and alerts) to include additional marketing messages. Since these emails typically have high open rates, they provide an excellent opportunity for cross-selling or upselling,\u201d Hoyer confirms. <\/p>\n\n\n\n You should make it easy for your audience to unsubscribe from your email list. For more information on this, check out our post on email unsubscribes<\/a>.<\/p>\n\n\n\n The unsubscribe button allows subscribers to manage the number and type of emails they receive. It is essential for any email provider to include this option, as laws in the U.S., Canada, and the EU (GDPR) require a clearly visible unsubscribe button in every email.<\/p>\n\n\n\n \u201c…if you can\u2019t get somebody\u2019s attention and you can\u2019t get them to engage with you, you\u2019re gonna be punished for that. So, obviously, I would prefer that people unsubscribe, rather than ignore my email or just push it into the spam folder,\u201d points out<\/a> Doug Morneau, celebrated email marketing pro. <\/p>\n\n\n\n Before sending an email, test it on a small segment of your target audience. This allows you to make adjustments and improve your chances of success.<\/p>\n\n\n\n Here are some tips for effective A\/B testing<\/a>:<\/p>\n\n\n\n Jessica Stewart, email marketing expert, says<\/a>, \u201cWhen you\u2019re measuring by email metrics like opens or clicks (rather than conversion), typically a segment size of at least 10,000 is a good minimum for testing.\u201d<\/p>\n\n\n\n But the segment choice may vary depending on what your target metric is. \u201cIf your target metric is conversions, you may need larger segments and a bit more time to let the results \u2018settle in\u2019 for a real finding,\u201d she adds. <\/p>\n\n\n\n Email marketing is not a one-time effort. After making a campaign live, you should review its performance against your KPIs.<\/p>\n\n\n\n And review it on a regular basis. \u201cThe problem is,\u201d asserts<\/a> Kath Pay, founder of Holistic Email Marketing, \u201cthat we don\u2019t continue to measure performance over the long term. Often, any activity that happens after the reporting window closes \u2014 say, a week to a month or even more after the campaign goes out \u2014 doesn\u2019t get counted.\u201d So it\u2019s highly critical that you consistently track, analyze, and<\/em> repeat.<\/p>\n\n\n\n At a minimum, analyze these metrics:<\/p>\n\n\n\n Additionally, compare your campaign performance<\/a> with industry benchmarks for a broader perspective. <\/p>\n\n\n\n You\u2019re now more or less aware of how email marketing for banks works. Now, let\u2019s look at a few examples of financial emails. <\/p>\n\n\n\n We\u2019ll study these examples from the financial marketing email design perspective. Let\u2019s get started!<\/p>\n\n\n\nBenefits of Email Marketing for Banks<\/strong><\/h2>\n\n\n\n
1. Low Customer Acquisition Costs, High ROI<\/strong><\/h3>\n\n\n\n
2. Email Is Permission-based<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2024\/11\/image4-2.png\")
<\/figure><\/div>\n\n\n\n3. Emails Can Be Personalized<\/strong><\/h3>\n\n\n\n
4. Emails Can Be Automated<\/strong><\/h3>\n\n\n\n
5. Email Marketing Is Measurable<\/strong><\/h3>\n\n\n\n
6. Higher Conversions & Sales<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2024\/09\/Want-to-know-how-we-helped-a-client-shift-from-boring-plain-text-emails-to-engaging-responsive-HTML-100.jpg\")
<\/a><\/div><\/div>\n\n\n\nBest Practices for Email Marketing for Banks<\/strong><\/h2>\n\n\n\n
1. Establish the Highest Security Standards<\/strong><\/h3>\n\n\n\n
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<\/li>2. Use Double Opt-in Subscription<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2024\/11\/image7-2.png\")
<\/figure><\/div>\n\n\n\n3. Segment Your Audience<\/strong><\/h3>\n\n\n\n
4. Personalize Your Campaigns<\/strong><\/h3>\n\n\n\n
5. Craft the Right Subject Lines<\/strong><\/h3>\n\n\n\n
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<\/li>6. Leverage Email Automation<\/strong><\/h3>\n\n\n\n
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<\/li>7. Create Drip Campaigns<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2024\/11\/image1-2.png\")
Drip campaigns quicken and simplify connecting with the right people at the right time with the most relevant content. Provided you\u2019re doing it right. <\/p>\n\n\n\n8. Experiment with Send Times<\/strong><\/h3>\n\n\n\n
9. Create Mobile-optimized Emails<\/strong><\/h3>\n\n\n\n
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<\/figure><\/div>\n\n\n\n![\"We](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2021\/10\/6.jpg\")
<\/a><\/div><\/div>\n\n\n\n10. Leverage Transactional Emails<\/strong><\/h3>\n\n\n\n
11. Simplify the Unsubscribe Process<\/strong><\/h3>\n\n\n\n
12. Perform A\/B Testing on Your Emails<\/strong><\/h3>\n\n\n\n
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<\/li>13. Track, Analyze, Repeat<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2024\/11\/image2-3.png\")
<\/figure><\/div>\n\n\n\nExamples of Email Marketing for Banks<\/strong><\/h2>\n\n\n\n
1. Educational Email<\/strong><\/h3>\n\n\n\r\n
![\"Educational](\"https:\/\/email.uplers.com\/blog\/wp-content\/uploads\/2017\/05\/october-tax-news-deductions-that-affect-you.png\")
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