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Email Unsubscribe Best Practices for Banks, Credit Unions and Other Financial Services Companies

By Jim Bruene on July 20, 2009 5:14 PM | Comments (2)

image It's been three years since I last went through my inbox to unsubscribe from the marketing and information lists I no longer read. At that time, I still used email to keep up on ecommerce and banking news. Now, that task has moved almost entirely to RSS, and I rarely read any broadcast email these days. 

During a two-hour paring process to delist 40 to 50 subscriptions from email, I paid close attention to how each company handled that bit of negative news and jotted down a few best practices for banks, credit unions, and other financial providers (note 1): 

  1. Put your branding on the unsubscribe page, don't simply default to your email service provider page.  
  2. Greet the customer by name and/or email address.
  3. Provide customer testimonials on the value of the email subscription.
  4. Empathize with their situation (e.g., Getting too much mail?), but reiterate the benefits of staying in touch with you (e.g., We really want our customers to get the best deals!) and gently see if you can change their minds (e.g., Are you sure? Try us for another month, and we'll do our best to bring you only pertinent offers.) 
  5. If that fails, offer alternative ways to maintain contact, for instance:
    - Less-frequent email (see first screenshot below)
    - RSS feed(s) (see second screenshot below)
    - Better-targeted email on just certain subjects
    - Use a different email address
    - Change email format (HTML vs. text)
    - Use SMS instead of email
  6. If applicable, explain that customers will still receive account-related email messages.
  7. Provide a feedback form so users can tell you why they are unsubscribing.
  8. Confirm the request online and provide links to other areas of your website.
  9. Send an email confirming that the unsubscribe process is complete.

Step 1: TigerDirect unsubscribe page (20 July 2009)
Email subscribers clicking on "unsubscribe" are first asked if they'd prefer to receive fewer emails.

image

Step 2: After unsubscribing, customers can sign up for RSS or catalog delivery image

Update: Staples...another good example of offering choices on the main unsubscribe page (screenshot 22 July 2009; hat tip to Loren McDonald, note 2):

image

Notes:
1. U.S. emailers must comply with CAN-SPAM regulations at all times. 
2. Here's a good presentation from Loren McDonald from Silverpop on the subject. 
3. For more info on email marketing, see our Online Banking Report on Email Marketing in Financial Services (published June 2006).

Comments (2)
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2 Comments

One thing I have noted about my own preferences, is a return to email for some things. Let me explain.

I subscribe to a few services such as Central Banks and other organisations that send out dauly updates with multiple and varied content. Those things can result in 5 - 10 items each within RSS, or 1 email. So I have found identification of those things and conversion to email subscription easier to manage volume.

Nice list Jim! I agree the majority of marketers tend to give up on the customer at the point of unsub. It's important to retain that relationship "on their terms". My #1 choice for news delivery is RSS, but i remain on some email lists for coupons and sales as I don't check feeds daily. Thanks, Ryan

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