Due to the astonishing growth in the number of mobile phones, SMS marketing has become a popular way for promotion in the financial industry. Marketers have found that SMS is the best way to reach the target audience of the financial sector.
In the past few years, SMS services have brought lots of tremendous changes in the financial industries.
The following mentioned stats will surely blow your minds, and you easily get to know about the importance of SMS in financial services.
– For communication with the customers as well as employees, around 85% of all financial companies around the world are using SMS services.
– More than 80 Percent of the financial companies think that mobile text messaging is probably has a greater impact on company’s brand image and awareness as compared to other ways.
– If we talk about overall customer experience, financial organizations feel SMS is the best way to bring fullest customer satisfaction.
These stats clearly defines that financial industry has shown commendable boom as per the ROI and the big reason of this significant chunk is somehow SMS.
Now, take a look at some of the best ways to use SMS for Finance Industry
1. Provide Forex Rates
Who doesn’t like getting Forex rates delivered to them personally, and on a device which is always with them? All they’d have to do is swipe up their screens and read the text; it doesn’t get any easier.
2. Confirm Transactions
Doesn’t matter what kind of company or firm you run, if it’s related to “finance,” it’s going to have “transactions” involved. So it’s always an excellent idea to confirm the transactions from your end by delivering them a text message. It gives the confirmation, but along with that, there’s a sense of professionalism that comes with it.
3. Due Date Reminders
Due dates are crucial in the finance industry, one date slip and you might be looking down a very deep financial crisis hole. You wouldn’t want your clients to miss the dates now, would you?
And seeing how it’s “financially” profitable for your clients as well, there’s no way they wouldn’t want to receive these updates on their cellphones, right?
4. Overall Market Updates
When there’s nothing “crucial” to deliver, how about delivering just general market info?
They’re bound to check that information on the Web whenever they get time, so why not take the info to them?
How the market is doing, where’s the hike and where’s the nose-dive, it’s all about just finding a reason to send them SMS, a reason which doesn’t annoy them and builds credibility for you.
5. End of The Day Updates
Another use you can make of Bulk SMS in the Finance industry is updating “end of the day” reports. It should be a summary of the overall market performance.
That way, once you’ve sent it couple days, they’ll know that they don’t need to waste their time checking these updates ever because by evening they’ll receive the information from you anyway.
6. Risk Updates
Every stock has a “profit: loss” ratio, doesn’t it? It’s a good idea to update them about certain stocks they might have invested previously in, or may be interested shortly.
A Risk update helps them decide better, and it somewhat gives you an edge, a bit of control over which stocks they put their money in. It won’t have a 100% decision changing effect maybe, but a good, fact-filled update will surely nudge them a bit.
7. Minute By Minute Updates
The one thing about the Finance industry is that it’s changing every second. What better use of “SMS” than to update your clients of every minute updates?
You can automate the task with either a team or any online service. The point is, it’s not as hard or complicated as it might sound, but the ROI it would have on your firm or company is just beyond the scope of imagination.
Because as I’ve mentioned repeatedly, “updates” are one of the most important parts of the Finance game.
8. Buying and Selling Tips
And finally, no one hates a good guide. Providing buying and tips to your clients right in their inboxes is one of the best things you can do for them as well as for you.
It doesn’t take much, the 160 character count is enough for a quoted, focused and to-the-point tip on how or where to invest next, what to avoid, what to take into consideration and such.
In fact, it works as a chain-marketing, the tip you share might get forwarded to their friends, and even if it doesn’t, whenever they use the tip or share their “expertise” in their friends’ circle, your firm’s name is likely to come up.
9. Internal Communications
While all of us know that SMS helps in engaging more and more customers, ut it has also come out as a tremendous way for the internal communication. About 70% companies think that SMS is the most efficient method for employee emergency alerts.
Almost all the departments of a financial department, whether it is accounts, IT and human resource, SMS evolves as a perfect way for sending company announcements, leaves policy, account authentication, password reset information, etc.
10. Safe Authentications
Security is one of the biggest concerns in the financial industry. There are lots of secured matters we have in finance like transactions, account details with updates, password resets and all.
That’s why SMS is the safest way to ensure timely delivery of the products to the ultimate customers.
These were some of the ways you can leverage Bulk SMS into your finance market. Although these were just introductory and you can always come up with better, more effective strategies, but if you’re running blank, these serve a good place to start.