It was surprising to learn that more than two in five financial services customers say they rarely or never receive relevant marketing communications from financial services companies they’ve used before or are currently using, according to a new Yes Marketing study.
Additionally, nearly a quarter (22%) of consumers say they hear from companies across channels including email, SMS, push notifications, social media and display ads too frequently, while 8% say they do not hear from companies on those same channels often enough. In the “too frequent” group, the GenZers (18-21 year-olds) were most likely across almost all channels to report brands communicated with them too frequently.
As fintech brands like Venmo, Stripe, Square, CashApp, etc. grow more popular with consumers and niche institutions (e.g., investment firms, credit unions, etc.) expand their services and offerings, the pressure is on for all financial services companies to improve communications strategies