SMS in finance industries
Research has shown that banks and financial institutions with strong customer loyalty have an open door to win more of their customers’ business. Research also shows that customers that have a positive first experience with their bank tend to stay loyal to that bank when it comes to applying for larger services.
Using SMS in a number of ways can help to improve customer retention and loyalty and open up to greater markets.
Payment reminders
Use SMS to reduce collection costs by reminding customers of outstanding and overdue payments. SMS has a 98% open rate, so you can be sure they will receive and read the message.
This will save your call centre staff needing to chase up payments, it also acts as a great way to build customer loyalty and shows you’re looking out for their best interests, helping them avoid fines.
Status notifications
Many products, such as mortgage and credit applications, can take considerable time to process. SMS is a great way to keep your customers informed on the status of their application(s). Sending updates via SMS throughout the process will keep them in the loop and lessen their need to contact you and ask questions, decreasing the volume of inbound calls.
Business continuity
In the finance industry, ensuring all of your business systems are working correctly, from your servers to website, is extremely important. It is essential that issues are detected early and resolved in the shortest possible time-frame.
By implementing SMS into your monitoring systems, you can be assured that technicians are alerted instantly if any critical infrastructure goes offline. SMS is usually read within 90 seconds of receipt. Furthermore, this process can be fully automated.
When you compare SMS to any other method, none are quite as effective as SMS. For example, emails can take up to 90 minutes on average to be read—this can be even slower outside of work hours. Phone calls generally require human intervention; someone has to notice the fault, know the correct procedure and follow up as quickly as they can. This has many areas susceptible to mistakes being made.
Staff communications
Using SMS is a quick way to ensure your staff get the message. SMS can be used to send staff messages on the following issues, and much more:
- Updates on OH&S changes
- New products and services to upsell
- Important event invitations
- Travel information such as flights, hotels etc.
- Meeting updates should a venue or date change at last minute
Marketing promotions
New products, services, credit card offers, extending credit limits, extended opening hours; all of these need communicating, and often email just doesn’t get read, and direct mail is expensive. SMS is a great way to get the message out there and get it read.
With almost 80% of the Australian population now owning a smartphone, you can also embed links within your SMS, which can send the recipient to mobile optimised web pages to give greater information on the products and services on offer.
Competition, modernization, and globalization have made it necessary for the finance industry to use SMS services for better exposure and survival. Sanchar SMS is the leading hub that offers bulk SMS services that benefit the financial industry in a seamless manner. Promoting banking and financial services through SMS marketing will be a win-win option for you. Sending messages to a pre-determine group of recipients will be easier especially when you belong to the financial industry. We bring innovative marketing techniques in the veil of SMS services that help you support your services flawlessly.
We understand how important it could be for you to gain your target audience’s trust and loyalty. This is why serving them with good services and better products tend to get necessary. Certainly, SMS services will do wonders for your financial company. Providing your customers with accurate communication and reliable services will be the only way to win their hearts. We have come up as a trusted means through which you can reach your audience in an efficient manner.
Promoting Your Business is in Your Hands NowDepending on your needs, we customize our SMS services to make sure you meet what you actually need. Of course, it is never easy to reach your audience until you use SMS as a power tool. This is why we take pride in discussing your marketing needs and ideas to avoid the hesitation that you may face while connecting with your audience. We deliver customized SMS marketing solutions to help you establish long-term relationships with your customers.
We always prioritize your needs while serving you the best in the industries. We know why it is important to send vital information related to your customers’ finances to them. Our main focus is always on making your services reliable to your target audience. We make sure you use of SMS services and send them immediately to your audiences to make them feel confident while using your products. With us, you will be able to create a bridge that allows you to deliver a smooth experience to your customers with a direct access point.
Preventing Fraudulent Activities will be EasierWhen you use SMS services to serve your customers, they need not to worry about any fraudulent activities. Keeping them aware of all the activities through SMS will make it easier for them to avoid the risks of any fraudulent activities. You can notify your customers about each activity carried with their finances.
Alerting customers of all the activities will surely help your customers to keep their nerves smooth. In fact, you can easily establish a worthy relationship with your customers. Promoting your business through SMS alerts will surely help you even when you want to launch new services. Now, use our SMS services and connect to your customers in a fuss-free manner.
Using SMS Surveys in the finance industry?
Feedback surveys
Feedback is essential to understanding how satisfied or dissatisfied customers are with your company. You can use SMS to send a survey to get to know how your customers really feel about your customer service as well as your services and offerings.
Market research surveys
Using SMS for market research is great because the response is high and quick. We have found SMS survey response rates to be up to 5 times higher than email. This leads to a more accurate cross section of your audience, and also enables you to act much faster.
