5 factors that drive event engagement for financial services

by | Nov 14, 2019 | Marketing, Public Relations

With the markets for banking, asset management, and wealth management experiencing high levels of saturation and competition, financial pros are increasingly seeking ways to communicate more efficiently with clients while optimizing their level of personalization. A new report from email marketing and event management platform StoneShot offers financial marketers guidelines and best practices for boosting the success of email marketing campaigns promoting conferences, roadshows, and webinars.

These face-to-face engagement opportunities are more critical than ever—recent Accenture research found that 40 percent of clients said they would be more loyal to their financial institution if their experience was more personalized, especially in a world where 79 percent of clients saw their relationship with providers as purely transactional.

Transforming client interactions from a transaction to an ongoing loyal relationship requires that financial professionals go beyond day-to-day exchanges. Hosting client events can serve as an effective tool for both client networking and valuable relationship-building. So, what factors contribute to an outstanding event that distinguishes firms from their competitors?

Key factors impacting engagement effectiveness:

Event Duration

Conferences and roadshows lasting between 2-3 hours tended to outperform those that lasted less than 1 hour or more than 4 hours. Webinars lasting between 1-2 hours tended to outperform those that were shorter or longer.

5 factors that drive event engagement for financial services

5 factors that drive event engagement for financial services

Invite Timeline

Event registration was highest for conferences and roadshows promoted 4-8 weeks in advance—depending on if travel was required. For webinars, the most registrations came from email invites starting 3 weeks in advance.

Email Length

Content with 100-500 words saw the highest open and read rates for conferences and roadshows, while emails that were a bit heavier on the content performed better for webinar promotion.

5 factors that drive event engagement for financial services

Confirmation Emails

Campaigns that included confirmation emails after users registered saw a 25 percent increase in attendance compared to those that did not.

5 factors that drive event engagement for financial services

Follow-up Timing

Financial marketers who followed up within a week of the event boosted engagement 300 percent more than those who waited longer.

5 factors that drive event engagement for financial services

“We are always seeking new insights and best practices to help financial marketers advance the way they communicate with their clients,” said Gavin John, CEO and co-founder of StoneShot, in a news release. “Hosting an event can be a forgotten art that offers an excellent avenue for firms to engage with customers they serve, which is especially important in the client-driven world of financial services. Whether launching a new fund or looking to expand their networking opportunities, we are proud to share our latest findings with financial marketing ecosystem.”

Download the full report here.

This report compiles StoneShot’s proprietary research and analysis of over 3,000 events and 21,000 event campaigns sent from their app, spanning across more than 65 different clients.

Richard Carufel
Richard Carufel is editor of Bulldog Reporter and the Daily ’Dog, one of the web’s leading sources of PR and marketing communications news and opinions. He has been reporting on the PR and communications industry for over 17 years, and has interviewed hundreds of journalists and PR industry leaders. Reach him at richard.carufel@bulldogreporter.com; @BulldogReporter