Consumers demand many things out of finance and insurance companies, which is why it’s of little surprise to find that millions of Brits are looking to receive additional information from their chosen institutions.
Recent statistics show that millions of people in Britain would opt-in to updates from these companies if only they were given the opportunity to do so. Formerly, the ‘in’ method of communication was the paper newsletter. That was until email introduced both consumer and company to a more direct version of keeping in touch. Now, with the 21st century in full flow, it’s mobile’s time to shine.
By the end of 2013, over 5.5 million people in the UK will have opted to receive updates from finance and insurance companies. Smartphone users will grow to represent a key market in this area, accounting for 4.5 million opt-ins by 2015, and here’s how companies can prepare for the maturity of mobile.
While the prospect of securing a high number of female opt-ins should still be chased, figures suggest that males are more likely to sign up to mobile updates from finance and insurance companies than females.
A total of 3.3 million males are currently receiving messages from these firms, compared with 2.2 million females. The same trend is evident in the legal services sector, where males are currently outscore females by 1.4 million opt-ins to 986,597 opt-ins.
Not only this, males are also more accepting of frequent updates from financial and insurance companies, with 35 per cent of this group willing to receive more than one message per month. Again, females are slightly behind with 21 per cent.
A need for SMS
Many would expect that smartphones will drive interest in mobile updates. However, figures suggest that feature phone users are more than chipping in with the total number of opt-ins.
It’s thought smartphone owners account for the majority of opted-in users, with 3.1 million signed up to updates, but the 2.1 million feature phone owners that are also signed up should be giving companies something to think about. Multimedia messaging is becoming an increasingly popular way to reach consumers, but finance and insurance firms will ignore basic, widely-accepted services like SMS at their peril.
Targeting by region
Targeting by region is vital in digital marketing. This is especially the case in mobile, where research is throwing up some interesting results.
Around 385,646 residents of London would welcome communications from finance and insurance companies over once per month. This might be one of the bigger markets in the UK, but it’s certainly not the biggest. A staggering 648,903 people in Yorkshire are willing to receive the same service, with 403,851 people in the Tyne Tees region expressing the same inclination.
So, as the number of sign-ups for messaging services starts to increase, it seems basing campaigns on facts and future trends will become even more important than it already is.
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