Fintech
WhatsApp Marketing for Fintech Companies – Brand Wagon News
By Gautam Rajesh Shelley
Digital marketing it has evolved over time. In today’s age, simply sending emails and SMS won’t increase your sales; will barely make a dent in the sales potential of your business. That’s why, to be relevant to their target audiences and connect with them effectively, companies are constantly looking for innovative engagement strategies. Recently, Whatsappwith its massive monthly active user base of 2.3 billion, it has emerged as a powerful tool, especially for fintech businesses.
WhatsApp started as a great alternative to messages and conversations and has become an important part of personal communications. Given its massive adoption, it was natural for companies to tap into this growing channel. Over time, it has evolved into a versatile platform that allows businesses to connect with their customers in real time. From customer support to sales and marketingWhatsApp offers numerous opportunities for fintech companies to streamline operations and foster meaningful relationships.
For example, E-mudhra has preferred to use the WhatsApp payment feature as a way to provide its customers with the convenience of renewing DGFT certificates among other services. This clever application from WhatsApp not only makes things easier for consumers, but also shows how flexible the platform is in promoting safe and fast transactions. Digio also uses WhatsApp to facilitate the procedures for sending and verifying documents. Be it collecting crucial documents or verifying KYC details, Digio uses the trusted WhatsApp channel to streamline business transactions and enhance customer experience at all times. Additionally, Niro is committed to offering integrated credit products that are easily accessible to more than 600 million Internet users India.
Note: These use cases can only be achieved via WhatsApp Business API-based platforms, not via the WhatsApp Business app.
Easy access to financial communication
One of the main roles of WhatsApp marketing for fintech companies lies in its ability to provide instant and personalized communications. Unlike traditional channels such as emails or phone calls, WhatsApp allows businesses to interact with their customers in a more direct and informal way. This facilitated quicker responses, further fostering a sense of trust and transparency.
WhatsApp’s broad reach and accessibility make it an ideal platform for fintech companies to connect with customers and prospects globally. With over two billion active users worldwide, WhatsApp offers a level playing field for businesses of all sizes to expand their reach and easily enter new markets. Fintech companies are implementing WhatsApp in a variety of practical ways, including:
Easy access to financial services: Services such as loan processing, account management and insurance updates can be conveniently accessed via WhatsApp, making financial activities hassle-free.
Secure Transaction Alerts: Businesses can set up automatic transaction alerts directly on WhatsApp, ensuring quick and secure notifications.
Document submission and verification: Fintech companies can collect important documents and verify KYC details directly on WhatsApp, maintaining privacy and efficiency.
24/7 customer service with chatbots: Using WhatsApp chatbots, businesses can provide 24/7 support, answer questions, and even qualify users, making interactions smoother and more personalized.
Collect payments on WhatsApp: Businesses can now accept payments directly via WhatsApp, making transactions more convenient for customers. For example, E-mudhra allows renewal of DGFT certificates via WhatsApp Payments.
Promotions and Recommendations: Fintech companies can analyze customer data to offer personalized promotions and product recommendations via WhatsApp, improving customer engagement.
Financial education: Businesses can share valuable financial knowledge and tips on WhatsApp, helping users understand concepts like stock markets and protect themselves from fraud.
Get the green tick verified: Businesses can request a green tick on WhatsApp, signaling trustworthiness to users and improving brand credibility.
Custom Forms: Just like Meta’s Lead Form Ad, businesses can create custom forms on WhatsApp, streamlining processes and capturing essential information efficiently.
In 2024, WhatsApp is still one of the most powerful tools capable of offering businesses numerous benefits. Its ever-growing users, constant user engagement, and versatile media sharing ability provide a perfect platform for businesses to communicate with customers in a meaningful way. Empowering a company’s marketers via WhatsApp leads to increased customer engagement, greater brand loyalty, and business growth in today’s virtual world.
The author is CEO and founder of AiSensy