Increase re-engagement with messaging’s unique capabilities
Keeping customers interested is crucial to the longevity of any business. But inevitably, some customers begin to drift away. What can you do to re-engage them? You can help lock in future revenue, long-lasting relationships, and quality engagement by using messaging to follow up.
You’ve already done the hard part by securing that initial purchase, now you have to make sure you keep your customers interested and convert them to long-term, loyal customers that continue to create revenue for your business.
Keeping customers coming back
Just how can messaging re-engage your customers? Special notifications, one-on-one chats with financial advisors, investment tips, and new offers are just a few examples. The flexibility of messaging allows your marketers to use their creativity to find new and exciting ways to bring customers back in.
Special offer notifications
Worried about your clients losing interest or ignoring your services? Sending them a notification about a special offer directly to their phone via messaging could help draw them back in.
Maybe you’re running a 4th of July sale, or offering a discount on first-time investment coaching. You could create personalized offers based on their previous purchases, showing them you’re invested in them as a customer.
A message notification is a great way to immediately grab their attention and secure that essential response.
Speak to a financial advisor
Your financial advisors can be key to keeping customers invested and engaged with your business. That one-on-one connection just can’t be beat! Messaging allows your advisors to connect with customers on their schedule and terms. Being able to get advice from anywhere, your customers can tap into your expertise about ongoing market changes, investment decisions, or long-term choices right on their phone.
Messaging can help establish long-term relationships between your advisors and their customers. They’re able to be someone the customer can always reach out to right from their phone, and trust that they’re getting the best advice no matter the situation. Convenience combined with quality makes messaging the perfect financial communication tool.
Show off new loan information
Offering new loans, or updating existing ones to be more appealing? Use those new offers to grab the attention of customers who may be losing interest. The prospect of a better deal is hard to ignore, especially when it comes to things as impactful as loans. You can use multimedia messaging to send infographics displaying the benefits of the new offers, or compare them to competitors’ loans to establish just how valuable your services are.
Who doesn’t love free advice? Sending your customers short messages with quality tips and tricks can keep them engaged and interested in the services you have to offer. A quick message informing them of the best performing investment account from the past 5 years could lead to them reaching out to set up an account of their own. Sending a parent a statistic about saving for childrens’ college might convince them to ask a financial advisor about creating an account with you.
How Mutua Madrilena used messaging to further engage their customers
One of Spain’s leading insurance companies, Mutua Madrilena — ranked first in non-life products — is also one its most innovative. They empower customers across the country to make claims and manage their policies via WhatsApp.
So, how do they ensure their customers are engaged, and re-engage the ones who might be losing interest? Let’s examine how they used WhatsApp to their advantage.
Automation and integration
Mutua Madrileña teamed up with integration partners Infobip and Emergya to create its EME virtual assistant and develop the integrations needed to connect WhatsApp with its existing tech stack. Mutua Madrileña began the project in 2018 and went live with its first service based on WhatsApp in September 2020, just as the second wave of the COVID-19 pandemic swept across Spain.
Eager to gain visibility and control over their finances at a challenging time, policyholders and prospects flocked to digital channels for real-time support. Within just six months of going live with the EME virtual assistant, Mutua Madrileña had received 468,000 messages from customers via WhatsApp, accounting for more than 23% of incoming requests received through digital conversational channels. Not only did this speed up response times for customers, it also helped the insurer to reduce its internal costs by addressing queries more efficiently.
“Our industry serves a new breed of customer, people who are increasingly inclined to use digital channels and have their needs met on the fly. That’s where the WhatsApp Business Platform really shines, allowing us to deliver simpler, easier-to-access services in real-time without adding strain on our customer service teams.”
Juan Larrauri Diaz, Head of Digital Strategy at Mutua Madrileña
Within a year, Mutua Madrileña achieved:
30%faster in resolving automobile accident claims
0.5 second response time to incoming messages
300% growth in customer opt-in rates
2x faster in delivering new digital services compared to web and apps
91% success rate in addressing requests via virtual assistants
Quality communication kept their customers engaged and ensured that the relationship didn’t fizzle out after the initial purchases and interactions.
Re-engagement = Revenue
When it comes to existing customers, you’ve already done the hard part. You’ve established why your services are valuable, secured the customers’ attention, and convinced them to make their first purchase. Don’t let that hard work go to waste!
Re-engaging customers is one of the most important steps you can take to drive revenue. They’re already open to purchasing your products and services — but it’s up to you to make sure you continue to provide value. Reaching out via messaging can be the key to re-engaging those customers who are apathetic, or only came to your company with a single need that has since been met. They saw the value of one of your services previously, but haven’t considered your other offers.
Personalized conversations and offers can be the difference between repeat business and losing existing customers. Building trust with your customers and motivating them to explore your products is key, and re-engagement starts a new customer journey every time a customer shows interest in one of your other products.