Digital trends are indicating a general shift away from desktops and laptops. However, the financial services industry is still heavily dependent on traditional browsing devices like desktops and laptops. Many argue that a “mobile first approach” is not that important in our industry.
Our Digital Marketing Survey has revealed just how competitive an advisor’s inbox is. 36% of respondents in the UK and 42% in the US told us that asset managers send them 6 to 10 emails a week. Even more so, many get more than 20 emails a week. This means that different asset managers are targeting many of the same contacts. So how do you break through?
Get to know your audience
Most of professional investors read their emails during the day. Our 2015 Digital Marketing Survey shows that a strong 44% of the UK and 49% of the US respondents preferred to spend their mornings going through their emails. However, about 70% in the UK and 65% in the US also indicated that they read emails on their mobile devices in the evenings and on weekends. Many advisors are checking their inboxes outside the usual working hours – thus, not having a mobile responsive email may put you at a great disadvantage.
The 3-5-7 rule for email marketing
So what happens if an email doesn’t look good on your client’s mobile device? You guessed it – almost half of the professional investors say they delete it. This supports the 3-5-7 rule for email marketing:
When asked, more than a third of advisors admitted that they spend a just few seconds deciding whether to delete the email. Only 1% of the survey respondents in the UK and 10% in the US actually read the whole email and then make a decision.
Mobile responsive email build is tricky
There are lots of devices to account for when building an email. Even in 2015 there were reports about the existence of more than 24,000 different Android devices. So yes, it is not at all easy to make your email look perfect on all of them. However, as a financial services company, you want your emails to present you in a positive professional light, strengthen your brand and build trust, security and consistency – especially since our industry puts a lot of emphasis on trust and reliability.
Advisors want improvements
Your contacts notice what your emails look like, even if you think they don’t. An astonishing 91% of the UK and 88% of the US respondents want emails to be more mobile friendly.
Broken emails rarely get second chances too – only 13% will try again on a different device if it’s too hard to read on their mobile. This is a huge opportunity loss both for your brand and marketing efforts.
Technology continues to develop and digital transformation is already happening in the financial services industry, whether you’re on board or not. Asset managers need to rethink their established email marketing techniques and develop marketing campaigns with the mobile user’s journey at the forefront.
StoneShot can help you understand your marketing data – with more than 15 years of experience working with a large number of fund groups, you can use our insight for your email marketing initiatives. Get in touch at email@example.com.
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