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Architaa Pandey
Architaa Pandey January 18, 2024

These days, everyone’s hopping on the online banking bandwagon. Did you know a whopping 73% of people globally are checking their accounts online every month? And it’s not just about checking balances; nearly 40% of smartphone users are tapping their phones to pay in stores. Get this – by 2024, we’ll see over 3.6 billion folks banking online.

Why the big shift? Well, it boils down to a few things. First, it’s super safe – banks have got some serious digital locks on your info. Then, there’s the convenience. You can do your banking in your PJs, no need to step outside. Plus, no sneaky fees – most online banking is pretty straightforward with costs. And the best part? No more waiting in those endless bank lines!

As online banking becomes the norm, BFSI brands are looking for that special something to make their websites and apps really pop. That’s where website personalization comes into play – it’s all about giving you a unique, tailored experience online.

In this blog, explore how BFSI brands can leverage website personalization to enhance customer engagement and drive growth, using innovative strategies and tools provided by Upshot.ai.

Customizing Web Experiences in Banking: How BFSI Brands Can Connect Better

When it comes to website personalization in BFSI websites, it’s all about making your customers feel right at home. Think of it like having a friendly guide to show them around when they first sign up. This warm approach helps keep folks around for the long haul. And guess what? 

Sending messages that are just right for them—like a heads up about a bill or a quick tip on finding the nearest branch—makes a big difference. It’s like having a chat with your customers based on what they like and where they’ve been.

Different layers of personalization

Using smart tools like Upshot.ai, BFSI brands can get even cleverer with their websites. These tools can provide analytics as to what your customers might need next, whether it’s a new product or a service. It’s a cool way to make sure your customers are getting what they want, and it’s great for business too!

Also read: 7 Essential Customer Success KPIs to Track in banking apps!

How to unlock the full potential of website personalization in BFSI brands

Website personalization in BFSI brands

  • Integrated Reporting and Response: Keep track of customer actions and respond instantly, all from one central hub.

  • Customized Customer Experiences: Create engaging, tailor-made experiences that resonate with each customer.

  • Preventing Drop-offs: Analyse and prevent customers from leaving your website or app with timely interventions.

Learn How to measure and grow Active Users in BFSI? 

  • Boosting Engagement and Value: Enhance customer involvement to increase their lifetime value.

Let’s dive deeper into the different ways Upshot.ai empowers BFSI brands, crafting unique user experiences and driving significant business growth.

Use-cases for Website Personalization in BFSI Brands with Upshot.ai

1. Streamlining Onboarding and KYC with a Personal Touch

By using personalized data to pre-fill forms, the sign-up process becomes smoother. Custom messages also help in increasing app installations and user registrations.

How can you do it with Upshot.ai?

Focus on efficient KYC completion. For existing customers, promote your digital platforms using targeted recommendations and updates. For new users, ease their onboarding with attractive incentives and personalized guidance, and use social media to spread the word. Also, make use of interactive walkthroughs to boost feature adoption.

2. Encouraging Initial Engagement through Personalized Nudges

Increased transactions lead to more in-app activity, reducing Customer Acquisition Costs. Tailored offers encourage visits and transactions, prompting new users to complete KYC and start engaging.

How can you do it with Upshot.ai?

For newcomers, alleviate hesitations with special first-transaction offers. Keep highlighting your app’s benefits and unique features through push notifications and in-app messages to maintain interest.

Discover Fintech App Engagement: In-App Message and Push Notification Templates

3. Tailoring Experiences Based on Customer Entry Points

Customized landing page messages and targeted ads enhance engagement and the likelihood of conversions.

How can you do it with Upshot.ai?

Adjust your messaging and offers based on customer entry points. If a customer arrives via a social media ad about credit card rewards, present them with similar reward-based options. For those coming from affiliate emails about loans, focus on relevant loan messaging and maintain engagement with follow-up communications.

Improve User Acquisition in Banking with Customer Journey Mapping

4. Enhancing Experience for Returning Visitors

Special offers and educational content can significantly boost conversion rates and overall engagement on BFSI platforms.

How can you do it with Upshot.ai?

During the engagement and retention stages, the goal is to elevate the customer experience and promote transactions. When a customer revisits your site, use their past behavior to display relevant products or offers. For example, if they previously browsed a specific product, show a promotion for that product. For visitors without clear purchase intent, craft personalized offers based on their browsing history or interests, like a free financial eBook.

Discover 5 Ways to Re-engage Inactive Users in BFSI

5. Boosting Engagement and Conversions through Personalization

Consistent engagement nurtures leads and fosters stronger customer relationships, increasing the chances of loan process completion. Regular interaction keeps your brand at the forefront, encouraging repeat visits.

How can you do it with Upshot.ai?

If a customer abandons a loan application, follow up with personalized communication and simplify the process. If they fill out a loan calculator but don’t apply, provide additional information and personalized assistance based on their input.

6. Personalized Upselling and Cross-Selling

Custom offers lead to more website visits and conversions. Exclusive discounts can enhance customer loyalty and repeat purchases.

How can you do it with Upshot.ai?

In the retention and growth stage, encourage customers to explore additional products and services. Use personalized communication based on their transaction history, account balance, and credit history. Employ RFM (recency, frequency, monetary) analysis to identify loyal customers and tailor your loyalty program offers.

7. Enhanced User-Specific Personalization for Stronger Connections

Creating a more personalized experience based on unique user attributes not only elevates a visitor’s perception of your brand but also fosters deep-rooted loyalty.

How can you do it with Upshot.ai?

In critical stages such as upsell, retention, and growth, Upshot.ai helps in aligning offerings with customer preferences. For instance, personalize the website experience for visitors from different regions by showcasing region-specific products or services. If your customer base varies in age and banking tier, offer products that cater to each segment’s unique needs.

Learn why Personalization and Customization are the Keys To FinTech Engagement!

8. Reducing Conversion Funnel Drop-offs with Interactive Messaging

Engaging customers with real-time messaging and assistance greatly reduces the likelihood of them abandoning your website or app.

How can you do it with Upshot.ai?

In the acquisition and retention phase, focus on improving on-site conversions. Implement personalized in-app messaging strategies at crucial decision-making points, like offering help when a customer hesitates on a loan page.

9. Targeted Product Recommendations for Enhanced Acquisition and Upsell

By recommending products tailored to individual user needs and past behaviors, you can significantly improve conversion rates and customer lifetime value.

How can you do it with Upshot.ai?

Analyze customer data to make relevant product suggestions. For instance, offer a high-reward credit card to frequent shoppers or a travel rewards card to frequent travelers.

Confused about how to drive more transactions and keep customers engaged for your fintech app?

10. Optimizing Customer Insights through Self-Segmentation Surveys

Understanding customer preferences through surveys can lead to a more tailored and effective website experience, increasing both engagement and conversion rates.

How can you do it with Upshot.ai?

Employ self-segmentation surveys during customer acquisition and onboarding. This approach allows banks to capture direct insights into customer preferences, enabling a more customized website experience that aligns with individual financial goals and risk tolerance.

Website personalization in the BFSI sector is the new big thing, and it’s all about making each customer feel like the star of the show. Imagine a website that knows just what you need, whether it’s the right kind of loan or the closest branch – it’s like having a financial genie in your pocket!

About Upshot.ai

The Upshot.ai platform revolutionizes the BFSI sector with its advanced data-driven personalization capabilities. Upshot.ai facilitates highly tailored communication, encompassing essential notifications such as bill payments and loan qualifications, to enhance customer engagement

The platform empowers financial institutions to segment their audience with precision, based on specific app or web behaviors. This segmentation allows for targeted, timely campaigns, maximizing value and optimizing results. Furthermore, Upshot.ai’s User Journeys feature provides invaluable insights into customer interactions across multiple touchpoints, enabling the identification and improvement of any friction points. 

The platform simplifies the personalization process, requiring minimal technical expertise, thus streamlining the path to improved customer experiences and retention. For more information on integrating Upshot.ai’s website personalization into your brand strategy, feel free to contact our specialists for a consultation.

Ready to test these strategies? Let’s turn the ordinary into the extraordinary together. Book a demo, and let’s get started! 🚀

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