January is National Financial Wellness Month, and while the first month of the new year always seems to fly by, its mission to promote financial health should be one businesses strive for with their customers all year round—and is a key tenet of TrueML’s own mission.
Let’s take a look at what Financial Wellness Month is, why it matters for both consumers and companies, the variety of financial-related messages businesses send on a regular basis, and how those messages can help promote financial wellness.
Communicating through the channels your customers prefer—and making sure those messages actually reach the intended recipients—is just as important to helping consumers’ financial wellbeing as the actual content of the messages. If your customer never receives or engages with your communications, does it even count?
Considering that 59.5% of consumers prefer email as their first choice for communication, if your business isn’t using digital communication for financial topics you are missing out on engagement opportunities that can positively impact both your business and the customer’s financial wellness.
But there’s more to it than just using email to send reminders and notifications. Successful email delivery doesn’t mean that it actually makes it into the recipient’s inbox—that’s why high email deliverability rates are vital to successful customer communication. Email deliverability divides how many emails reach the recipient’s inbox, as opposed to their spam folder, by the total number of emails sent.
When it comes to financial wellness, knowledge is power for the consumer. Provide clear, consistent, and continuous communication so your customers are aware of their financial standing with your company or organization and have the tools to take action when they are ready.
Retain by TrueML Products is a digital communication delivery platform designed with deliverability in mind to ensure that all of your business messages land in their intended location (customers’ inboxes)—from payment reminders and past-due notifications to promos and policy updates.
Our mission is to enable intelligent, digital communication for our clients and prioritize their customer experience to get back to financial health.
Let’s take a look at what Financial Wellness Month is, why it matters for both consumers and companies, the variety of financial-related messages businesses send on a regular basis, and how those messages can help promote financial wellness.
What is Financial Wellness Month and Why Does It Matter?
After the whirlwind of holiday spending, January serves as a prime time to remind consumers (and us all) to pay closer attention to our financial wellbeing. While our physical and mental wellbeing takes precedence, financial wellness often impacts the stability of the other two—just consider that 77% of Americans feel anxiety about their financial situation and how that impacts their overall health.
For most consumers, financial wellness comes in part by staying on top of their spending and bills, which can be a significant challenge. Surveys find:
For most consumers, financial wellness comes in part by staying on top of their spending and bills, which can be a significant challenge. Surveys find:
- 84% of Americans with a monthly budget say they've sometimes exceeded their budget
- 44% say they usually use a credit card to pay for the additional purchases they make when going over budget
- 63% of Americans don’t expect their personal finances to improve in 2024
- 26% actually expect their finances will worsen
Support Your Customers’ Financial Wellness Year-Round
While the onus typically lands on the individual to maintain wellness of all types, your business can help your customers take steps to keep in control of their finances. From payment reminders to past-due notifications, your organization can guide customers to stay (or get back to) the path of financial wellness.
Communicating through the channels your customers prefer—and making sure those messages actually reach the intended recipients—is just as important to helping consumers’ financial wellbeing as the actual content of the messages. If your customer never receives or engages with your communications, does it even count?
Considering that 59.5% of consumers prefer email as their first choice for communication, if your business isn’t using digital communication for financial topics you are missing out on engagement opportunities that can positively impact both your business and the customer’s financial wellness.
But there’s more to it than just using email to send reminders and notifications. Successful email delivery doesn’t mean that it actually makes it into the recipient’s inbox—that’s why high email deliverability rates are vital to successful customer communication. Email deliverability divides how many emails reach the recipient’s inbox, as opposed to their spam folder, by the total number of emails sent.
When it comes to financial wellness, knowledge is power for the consumer. Provide clear, consistent, and continuous communication so your customers are aware of their financial standing with your company or organization and have the tools to take action when they are ready.
How Retain by TrueML Products Supports Financial Wellness
Retain by TrueML Products is a digital communication delivery platform designed with deliverability in mind to ensure that all of your business messages land in their intended location (customers’ inboxes)—from payment reminders and past-due notifications to promos and policy updates.
Our mission is to enable intelligent, digital communication for our clients and prioritize their customer experience to get back to financial health.
Schedule a consultation to learn more about how Retain’s solutions help both businesses and consumers achieve financial wellness»»
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