Mobile marketing is here to stay. Financial Institutions who wait to adopt mobile marketing strategies will find it harder to reach and grow their audience. Here are seventeen facts about mobile that every marketing manager needs to know (but may not) to motivate marketing on mobile today.
- Mobile devices have altered the way consumers access their bank.
- Web psychologist Liraz Margalit says that smart phones, mobile access, and the vast amounts of information on the internet have “changed wiring” of our brains as it feeds the human need for control.
- With over 60% of e-commerce starting on a mobile device, your customers realize the banking potential they hold in their hands.
- In the past five years, the number of people accessing their bank account and financial services has more than doubled, now reaching 61%. The majority of these users are millennials.
- Nearly 59% of 18-to-34-year-old American mobile phone users will access their bank, credit union, credit card or brokerage account via mobile browser, app or SMS on their phones at least monthly.
- 32% of American digital banking users are willing to leave their current banking relationship for a better digital experience.
- Mobile device adoption rates are increasing at an incredible rate, surpassing 80% in recent years.
- 73% of U.S. adults now own desktop or laptop computers, while roughly 53% now own a tablet. In fact, the number of mobile devices has outpaced the global population!
- Pew Research Center shares that the number of Americans who own smartphones is now 77%, up from just 35% from their first survey of smartphone ownership conducted just seven years ago.
- Average smartphone conversion rates are up to 64% compared to the average desktop conversion rates.
- Americans spend an average of 10 hours per day on mobile devices. This means that the average American spends over 500 hours per year communicating via mobile technology, including navigating website.
- Phones are carried with people all the time, and checked on average about 74 times per day.
- An ever increasing number of Gen Z and Millennial consumers no longer use desktops and laptops on a consistent basis. If fact, some of them use mobile devices exclusively.
- Many large-scale businesses have shifted to digital marketing.
- World-wide, the push to “mobilize” banking is in full swing, attracting not only major banks but community banks and credit unions as well.
- If banking customers utilize mobile banking for account transactions and check deposits, the overall number of visits to brick-and-mortar branches decreases by 33%.
- Financial institutions that digitize the most important consumer journeys can increase revenues up to 20%and reduce costs by up to 25%.
DeepTarget digital marketing solutions are in use by hundreds of credit unions and banks across the country. DeepTarget’s open, enabling platform easily integrates and already works within multiple mobile banking systems. Automating the use of customer information it delivers relevant product offers and pinpointed one-to-one messaging to their banking customers through mobile banking and other channels such as online banking, web, and email all the while engaging them in a seamless communications experience, wherever, whenever and however they bank.
Want to know more? Download your FREE copy of DeepTarget’s eBook “10 Reasons To Make Mobile Marketing A Priority For Your Bank Or Credit Union”