Companies are sending critical financial information through text messages—and you can, too. In 2016, mobile innovation is booming, and mobile marketers are incorporating dynamic SMS environments to serve the consumer’s financial needs. Today, 76 percent of consumers will read a text before an email. Additionally, texts are opened, on average, within 14 minutes of receipt.
Financial texting, whether provided by a bank or business provider, is quickly becoming an opted-for service by many consumers. A lot has changed in the mobile industry, solidifying ironclad SMS strategies while boosting the buyer’s peace of mind. Check out how your company can implement a consumer-first financial plan via SMS, and find out how an automated text messaging platform can help your brand thrive in today’s business world.
Locate Your Target Base
Not all businesses need text-based financial solutions, and not all consumers want them. That said, many consumers do, in some way, enjoy SMS-provided financial support. Segment your user base, and determine the “who’s who” of your strategy.
Check up on your travelling consumers, and see which buyers engage on-the-run purchases. Target your consistent buyers, and focus on customers in need of ongoing financial notifications. Incremental payments, up-front payments and repeat product purchases should be on your radar: The constant buyer is your biggest asset.
Next, offer your consumers enrollment via opt-in services. Many automated SMS platform providers benefit from consistent enrollment outreach strategies. Streamline your business communications via text, and streamline your enrollment approach to ensure maximum involvement.
Your consumers will need to enable their accessible accounts. Assist them by offering several-digit keywords to enter. In doing so, you can ensure speedy service while promising security. Your financial SMS sender will have account preferences, so be sure to remind consumers of their options.
Which Information Will You Send?
Once your consumer is enrolled, your brand should determine the relevancy of sent information. Consider supporting your recipients by sending queries about:
- Account Balances
- Transfer options
- Year-long loyalty savings
- Previous purchases
Your automated SMS sender, when set up properly, can keep the customer informed about important purchases. Big buys, investments and out-of-area transfers should all be offered.
The Opt-In, Opt-Out Plan
It’s important to give your user-base total control. Fortunately, consumers don’t need persuasion to opt-in to your services. In 2015, 50 percent of United States consumers made purchases immediately after receiving an opt-in SMS offer. 90 percent of smartphone users enrolled in ongoing SMS information programs currently feel they’ve benefited from the engagement.
Opting-out, while an unlikely occurrence, must still be an offer. Your financial support strategy needs to benefit the consumer. It also needs to guarantee privacy. Fraud is a real concern, and modern consumers are incredibly wary of intrusive SMS plans. Give consumers the chance to reply, and remind them of their ability to cease communication by typing STOP. Your automated SMS sender processes requests immediately, engaging consumers with real-time actions.
In-Depth Financial Advice
While basic financial notifications offer quick, immediate assistance, your company may wish to offer in-depth financial assistance. In such cases, your automated SMS sender is prepared to assist the consumer across multiple channels. The advent of mobile advertising has outfitted big-name SMS marketers with a wealth of tools. Entice deeper communication with online support. Or, send a link to your website. Offer direct call options, and secure the customer’s account with a follow-up email.
The world’s 7.3 billion mobile users are engaging brands in new, organic ways. Now, companies can send purchase response texts instantly. Internet, mobile app and email access, too, benefit the financial-conscious consumer. By linking the buyer to your branded mobile app, you can secure long-term engagement. The customer’s security should always be your priority, and their financial stability is in your hands. Offer the consumer timeless advice, tailored directly to their needs. While providers like Bank of America have spawned the new age of financial SMS support, your brand can be among the many companies to secure ongoing contact, non-intrusive communication and dynamic support with the world’s leading technology.
What do you think of what I’ve covered so far? Will you adopt mobile as your tool for sending financial advice? I would love to read your comments below.