How Financial Companies are Using Text Messaging

Finance Companies and Text Messaging
Countless industries are using text messaging to fortify their customer service, marketing, and other aspects of their brands in the 21st century. Financial companies are no exception, reaping great gain from the powerful, economical, and environmentally-friendly advent of text messaging.

Texting offers a boost to customer service by allowing financial companies to rapidly text alerts to customers. It hardly needs to be said that texting is, for many modern people, the most effective and quick way to get in touch. Companies can use text messaging to get important alerts such as notices about changes to accounts as well as upcoming or past-due payments to customers as quickly as possible.

The increased, and growing, comfort of our population with text messaging also makes it an often preferred medium even for less urgent notices. Customers of financial service companies can receive general financial news or news of new opportunities, as well as of company changes such as interest rate or policy changes, as well as general financial advice, all over text message.

This is not only a boon to customers, but to companies; automated text messaging is not only a rapid and easy way to contact customers, but it is very cost-effective. Additionally, text messaging is much more environmentally friendly than wasteful traditional paper mail, for which financial companies are notorious.

Customers also appreciate the ease text messaging affords them when they need to reach out to their financial service provider. Two-way text message communication allows customers to text in questions or request information from financial companies. This is an easier medium for companies than time-consuming phone calls or more formal emails, especially where automated texts can be used. And customers will appreciate the speed and convenience of being able to engage their financial companies via SMS.

Incorporating text messaging also affords financial companies' marketing a boost. Using SMS as a channel for people who encounter financial companies' advertisements to reach out to the company holds the potential to draw new customers and expand the company's market. And it gets even better: the average SMS user makes more transactions and spends more than those who do not use SMS. So, the customers SMS marketing is inclined to attract are customers that are more likely to garner the most income for financial companies.

This tactic also creates a strong base for future marketing endeavors. Those who text companies tend to be more inclined to keep using text messaging to communicate with those companies, making them an ideal target audience for text message marketing. Financial companies can send offers and promotions via text to phone numbers gathered from SMS marketing campaigns, which belong to customers who are most inclined to appreciate contact via SMS and pursue offers they receive by text.

Clearly, finance and SMS pair well together; the benefits of incorporating text messaging into the motions of financial companies are immense for both the companies and their customers.

About the Author -
NotePage, Inc. develops SMS, text messaging, wireless messaging and communication software solutions. https://www.notepage.net