Hearsay Social, a technology provider, today announced the launch of a new predictive email marketing solution for the financial and insurance industries.
The new email marketing
tool, Hearsay Mail, helps advisors create customized emails that are personalized for each individual client.
Hearsay Social states its predictive technology will help advisors send emails by
recommending pre-approved content that is more relevant to each client.
Hearsay Mail will also offer preliminary analytics and data management, such as reports with click and open rates.
It is an addition to Hearsay Social’s Predictive Social Suite of multichannel marketing tools for financial advisors and insurance agents. The emails are promised to be compliant with
regional, national, and industry-specific rules and regulations.
Gregory Bailey, partner at Insure.VC, states: “There’s a significant opportunity for trust-driven industries like
financial services to combine the efficiency provided by technology with the personal, one-to-one service from advisors that is essential to developing successful, meaningful relationships.”
The financial services industry has the highest click and open rates in North America, according to a Q2 2015 email trend study released today by Epsilon Data Management.
The report found that
credit-card companies and banks had the highest open rate overall (47.4%), while general financial service companies have the third-highest open rate (39%) and the second highest click rate
(4.9%).
These percentages rise even higher when triggered emails are used. General financial companies have the second highest triggered open rate (66.2%), while credit card companies and banks
have the third highest open rate (65.5%).
The financial services industry also saw the biggest increase in email marketing ROI over the past year, according to a recent study by Experian
Marketing Services. Emails were 20% more likely to be opened and 30% more likely to be clicked when compared to the year before.
But are these ROI increases because of better email
technologies or consumer behavior?
Banks have the best long-term loyalty customers and highest retention rates, according to a recent study on customer engagement by Verint Systems. On
average, four out of five adults have been with their bank for three or more years.
Verint’s study states this may be because consumers are reluctant to change banks or deal with the
logistics of switching providers. Since customer loyalty is a huge incentive for email engagement, it would make sense that the financial industry is doing so well.
The high email open rates
of the financial services industry may come down to economic concerns. 62% of Americans have less than $1,000 in savings, according to a recent Google consumer survey by GoBankingRates.
That
stress could be inflating open rates, and it could be money in the bank for email marketers.