Financial Services Communications in the Age of Coronavirus

Effective critical communications start at the top, with senior leaders using email marketing as a means to share news about COVID-19, what they are doing to help, and also what consumers can do to stay safe and help others. But apart from the commonality of top-of-mind emails from the C-Suite, communications in the age of coronavirus should not be one-size-fits-all. 

The novel coronavirus is having a massive influence on the global economy and marketers need to be able to respond and adapt to a quickly changing landscape. That’s why Movable Ink’s Client Strategy team is sharing industry-specific tactics that financial services brands can employ to maintain transparency and keep customers at the core of their critical communications.

Assure customers that their safety comes first

As the virus continues to spread, we’re seeing many organizations send emails to their customers outlining any changes to protocol and how seriously they’re taking the situation. While branches are beginning to modify hours to encourage social distancing, it’s up to senior leaders to keep customers informed about these changes as they happen.

In this email, Anand Selva, CEO of U.S Consumer Banking encourages customers to access their accounts remotely via the app and website when possible and shared the precautionary measures that Citi is taking to keep customers healthy. This campaign even goes one step further than informational, assuring customers that Citi is at their side when they need it most and encouraging them to contact the company if it can be of assistance.

Consider modifying fees

With the quick impact we’ve seen on customer behavior and lifestyle changes, many organizations are rethinking their communication strategies.  As consumers seek to withdraw cash or potentially find themselves in financially difficult situations, financial institutions are using email to offer support and announce modified or waived fees.

Capital One let customers know that their health and safety was a priority, and switched to serving customers primarily with drive-through options at physical locations. In addition to this, the bank decided to waive maintenance fees and fees for withdrawing cash from ATMs that are operated by other banks.

Encourage customers to use digital and mobile options

Social distancing has had a quick impact on customer behavior. As branches close or modify hours, institutions are sending communications that drive digital account management and educate customers on tools like mobile apps, digital payments and encouraging the use of online accounts. This allows customers to stay away from branches if necessary, all while still maintaining a feeling of control over their finances.

Chase encouraged customers to use their digital offerings to stay connected and handle tasks like paying bills and depositing checks. In addition to this, they used this email as an opportunity to remind customers about their support options.

About the author

Jackie Mattia

Jackie is a marketing veteran with deep experience in email marketing, ESP technology, and developing enterprise CRM strategies built on personalization through intelligent use of customer data.

As Associate Director of Client Strategy, Jackie is a lead strategist supporting the company’s financial service clients. She was previously an SVP in the digital marketing organization at Citi’s Global Consumer Bank, where she led a team that oversaw Citi’s customer data platforms. 

Prior to Citi, Jackie was an Account Director with Cheetah Digital and Experian Marketing Services, where she partnered with financial institutions to develop their omnichannel marketing programs.