Preferred Methods for Receiving Personal Finance Updates

Based on the findings of a study conducted by the Expert market research on the methods that users prefer to receive their financial updates, it was concluded that 31.58% of the total respondents prefer push notifications for the same, followed by SMS and Emails.

Methods of receiving personal finance updates

When a user starts trading and investing, an important aspect of the same remains staying updated and informed of the latest trends in the financial and trading market to make an informed decision. But in this fast-paced world, traders find it quite a task to study the latest updates themselves. This has led to a growing importance of real time and easily accessible information, without the hassle of looking for it themselves via various sources. 
A recent survey was conducted by the Expert market research pan India, recording responses of 50000 participants to learn how is it that traders prefer to receive information about their personal finances and trends in the financial market.

Based on the findings of this study, Push notification received directly via the app is the topmost preference, with 31.58% of the total share. This makes it convenient for the users to directly check the latest updates as the information reaches directly to the user’s home screen. 

This is followed by SMS, preferred by 26.32% of the total respondents. Close to this is receiving updates via email, favoured by 22.81% of the users. The remaining have shown inclination towards social media and official websites and forums, with 10.53% and 5.26% share respectively to receive and gather information.

How do people like to receive their financial updates

Push notifications are considered above other sources of communication as they provide a guarantee to be noticed by the user the moment they open their smartphone, thus being more convenient. These automated messages are set up the instance one installs their broker apps, always receiving real time updates. Push notifications also increase user engagement and open rates of the app. It also ensures that consumers do not miss out on any critical information or any transaction alert. But an overwhelming number of notifications might lead to the disabling of this feature by the user. Thus, its implementation needs to be taken care of.

But push notifications come with their own drawbacks of word limit and the extent of information they can provide within a few words. Due to which people switch to emails, social media, and website forums to gather first-hand in-depth information.

The insights offered by our study prove useful in studying the growing importance of real-time, convenient, and accessible financial information in helping individuals manage their finances effectively.