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In our latest Fintech Benchmarks Report, one stat that stuck out for us was this: the average click-through rates for fintech app push notifications stands at 9% for Android users and 6% for iOS users.
Average push notification CTR measures the percentage of users who click and engage with your push message — a key indicator of how effective your marketing is.
Android’s average CTR at 9% is a 50% improvement over iOS. This could be due to iOS requiring explicit user permission to receive push notifications. Meanwhile Android OS receives these messages by default. But it does present your fintech app with a clear direction on how to go about improving your CTRs.
Initially, the benchmark gives you clear direction on which users to prioritize: Fintech marketers looking to connect with users through push notifications may want to focus on Android users first. However, even though these notifications are displayed on the screen, Android users do not always see them or click through. Be careful not to overwhelm Android users with irrelevant messages and noise or they may disable these notifications completely.
The most important action a fintech app user can take is to complete that first transaction. This could be anything from adding money to a digital wallet, making a deposit, or buying that first stock.
Use push notifications to encourage those most likely to convert to make their first transaction.
Your push notification campaign has to get the user there.
Giving them a deal they can’t resist will encourage them to click through!
Remember that not everyone opts into receiving push notifications. This is where a fallback channel such as App Inbox can save the day and ensure 100% delivery of your marketing messages within the app.
This App Inbox example shows a tab for updates and another for promotions or offers.
App Inbox can be used in tandem with push notifications or emails and give app users the chance to return to your notification without losing the information in your message. Think of it like an inbox for in-app notifications — one where the message doesn’t disappear after you’ve clicked on it.
Another way to get users to click through is to partner with merchants or service providers on your app. By making it easy for your users to pay their bills or access offers from related services or brands, you’re making their lives more convenient. This also provides a clear path toward repeat transactions and enhanced CLV.
Create trigger campaigns that send out a push notification when your user’s wallet balance dips below a specified threshold. Particularly for users who rely on a digital wallet for everyday expenses or who regularly shop online using your fintech app, a push notification to this effect cannot be ignored and must be acted upon.
Other triggered push notifications (and SMS messages) that should be part of your marketing array include:
Trigger campaign example: a questionable purchase triggers this fraud detection campaign to confirm whether the account has been compromised or not.
How does your fintech app compare against the rest of your industry? Our latest Fintech Benchmarks Report has the stats that can tell you what other fintech brands are seeing in their user onboarding and retention numbers.
Download the report today.
