Financial apps have been on the rise for the last two years. From digital banks to automated investing and payment providers, many apps have made their debut on the App Store and Google Play. According to App Annie, new regulation like PSD2 would continue to encourage the creation of app-centric, financial-related services. In such a crowded space attracting and engaging users becomes more and more challenging
According to Google, 92% of users find Push notifications on financial apps useful. Research from marketing automation platform Kahuna also suggests that financial services notifications have a higher user engagement than other industries. Furthermore, Fintech apps could take advantage of the fact that they can reach a higher level of personalisation than many other industries. A good example is to implement event-linked notifications: for example, notifying user that his account savings are running low. Done on a timely manner and targeted at selected user base, such push notifications could boost app engagement and enhance the customer relationship.
Push notifications could be used to promote new services and promotions. Important to note that they have a character limit so you should include a clear message and USP(Unique Selling Proposition) Marketing experts also advise in order to get noticed try to add a human touch e.g use emojis.
App Store Optimisation
Often neglected and overlooked source for organic app downloads is the App Store Optimisation or how well your app ranks in the search results. Although Google and Apple do not share how they construct their search algorithm, there are a few basic steps that can put you ahead of the pack. Firstly, choose the right keywords that are relevant to the app. You could also include your most important key word in the title. According to some studies, it can increase app store ranking by as much as 10%.
App description should also be kept user-friendly e.g use bullet points to outline important features, always add update notes. Additionally, think about your customer’s location and provide the translated description and title. Finally, screenshots that show the app best features and also create eye-catching app icon.
Go beyond the Store
Once you have your app well placed on the App Store, you could use all other online and offline channels at your disposal to promote it. Make sure your Facebook and other social pages are optimized for mobile viewing and they include easy links to your mobile app.You could use mobile browser detection on your website to detect users who enter the site on a mobile browser and include message that a mobile app is available.
The Finthech revolution has made the mobile financial app space more and more competitive. However, by offering a good service, having the right marketing mix and following the basic principles from above, you should be up for success. You could read our post about technical tips on building financial mobile apps here, and if you are planing to develop a financial mobile app, we would be here to help. Get in touch!