5 Steps for Mutual Fund Brands to Convert Anonymous Users into Investors
Well, it is that time of the year, (the dreaded JFM), when we see a part of our hard-earned money leave us as income tax. And this is also the time when we look for mutual fund brands who can help us make wise investments to save tax.
For goal-oriented digital marketers like you, this comes as a huge opportunity to hit those business targets. The leads and prospects inflow is quite high during this time. With carefully designed AI-powered user acquisition and on-boarding strategies, you can indeed achieve great results.
Marketers have always focused on two primary opportunities:
1. Converting website visitors, and
2. Trying to keep those visitors coming back
Both are crucial to the success of your business, but you ignore a huge opportunity that’s skulking right behind the shadow of the opt-in, the anonymous visitor. One aspect of the leads funnel, which is usually not paid as much attention as it deserves is nurturing and retargeting the anonymous visitors.
You definitely spend a lot of effort and time in attracting potential investors to your mutual funds website, get them to register, engage and nurture them, through cross-channel marketing automation journeys, and nudging them to convert. But usually, there are a lot of anonymous visitors who are not engaged or sufficiently nurtured for them to convert.
Anonymous visitors contribute almost 95% of traffic on the website. If these leads are retargeted and nurtured well, they can boost your business revenues to higher numbers.
Here is a step-by-step web engagement strategy that mutual fund brands like yours can adopt to retarget anonymous visitors and aid them in their further customer journey.
1. Identify the most visited web pages by anonymous visitors
In case of mutual fund websites, the SIP calculator page, where potential investors can calculate the savings against the invested amount, gets more page views from the anonymous visitors.
2. Calculate the time spent on each web page
Use Google Analytics to find the time spent on each web page. For instance, if you are considering the SIP calculator page (https://www.abcmf.com/systematic-investment-planner-calculator), you can find the average time spent on that particular page as highlighted below:
3. Define conditions to your user segments
Based on the average time spent by visitors on the web page, define the segmentation condition to create distinct user segments that you can target with relevant content. All visitors who browse the web-page with URL = https://www.abcmf.com/systematic-investment-planner-calculator & Time spent > 60secs for the First time.
For instance, for visitors who spends 2.07mins on the web page, you can create a segment of visitors whose average time spent on the specific page URL is more than 60 seconds.
4. Trigger Automated Web Messages
While the visitors of this segment are still on the web page, you can trigger a web message, let’s say after 60secs. Why 60secs you ask? As per study (https://wisepops.com/popup-timing/), the Web pop-up message needs to set-up after about 50% – 60% of the average time on page.
Here are some sample web messages that encourage the visitor to talk to an expert before dropping off or share their contact details -
5. Automating Your Web Push Drip Campaigns
Not all anonymous visitors respond to the web messages. Usually, 3% of the visitors end up seeing the pop-ups & action on it. (Refer- https://sumo.com/stories/pop-up-statistics)
So, there’s more scope to bring these visitors back.
An automated web push notifications drip serves the best in this case. Of course, you need to have your visitors’ consent to send them the web push notifications. However for BFSI industry, the opt-in rates for the web push notifications is 12-15%. Refer to our Comprehensive Report on Browser Push Notifications.
Here is a sample automation that can be designed on Smartech.
While you do want to retarget the visitors and win them, you do not want to overwhelm them with too many notifications. Make sure to space out your campaigns evenly.
Some sample Web Push Notifications –
This strategy has worked well with many of our BFSI clients.
From the surveys conducted at Smartech Lab, we observed that intent based web push notifications can drive up to 20X higher user engagement.
The secret to successful lead nurturing and anonymous visitors’ acquisition lies in continuous experimentation with AI-powered intelligent marketing strategies. There is no set-and-forget method. Do get in touch with us to know how can you deliver seamless customer experiences through cross-channel automation, that can boost your user acquisition metrics.
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