Customer experience is one of the most important dimensions for measuring the success of any service industry. Higher customer engagement will help the company to grow in the long run. Banking sector which is one of the leading sectors in our country largely depends on the customer experience. With the increasing use of the internet, it has become important for the banks as well to engage the customer in the business and focus on profitable customer relationships.
SMS marketing has changed the way banks used to communicate with customers. Right from providing the information about the new banking regulations to information about new account opening SMS marketing aims to provide one-stop solutions to the banks as well as customers. It is the most effective and cost-efficient marketing tool of recent times. With the highest number of opening and conversion rates, SMS marketing has changed the entire customer experience.
Here are some SMS ideas that can help the banks to enhance the customer experience-
Updates and alerts
You can easily send updates about the new banking regulations, changes in the interest rates, the new services etc. regularly through SMS marketing. People normally use their mobile phones 24*7 hours which makes it easy for the banks to provide such information single-handedly to the customers without any delay so that they can keep themselves updated. Banks can also use SMS alerts ATM pin generation, for sending new account opening procedure and OTP generation. The new generation banks know customers touchpoints and how to cater to them.
Banks try to provide two-way communication so that banks know to whom they are catering to. SMS marketing has helped the bank to understand the customers demand and to provide day to day solutions with negligible cost.
Loan and scheme related information
Banks can easily provide loan and scheme related information through SMS. If a customer wishes to know the eligibility criteria of the loans, the documents required, collateral security interest rates and EMI instalments they can easily get such information from banks through sending an inquiry. Banks can easily render such services through SMS which will save the calling time of the customers as well as staff members.
Banks can easily provide details about the new scheme such as ULIP, Provident fund schemes, retirement schemes and the various loan facilities to different customers. Bankers can easily cater to the rising needs of the customers through SMS marketing by sending them personalized SMS which will keep them engaged in the long run with the banks.
Bank details on your fingertips
The customers can easily obtain the bank details on their fingertips information related to the debit and credit of the account, timely payment reminders, details about the branch code, IFSC code, and balances inquiry can easily be assessed through SMS services.
SMS marketing has changed the entire way the banking industry used to operate in the past and will continue to shape a different future.
Customer can access every detail sitting at home and with no cost and in a limited period. Just user need to ensure that that his or her mobile number is updated with the bank account to be able to register for this service. The service has helped the banks to enhance customer satisfaction and their engagement in the long run.
Cross-selling other financial products
SMS marketing can help the banks to cross-sell the other financial products. Banks generally sell life insurance to the customers along with the new account. This increases the scope of the banks and how they used to operate. Usually, banks have numerous products so selling different products to their existing customers is profitable for the banks as well as customers. Banks can easily advertise about the other financial products by sending those links or the information that will persuade the customer to purchase the product.
Cross-selling can help the banks in analyzing the different needs and expectations of the customers that changes from time to time. For instance- A customer tomorrow may require a scheme that will provide enough funds to finance his child education after 10 years. SMS marketing can transform the way financial institutions interact with their customers.
The automobile industry is the fastest growing industry in the world. With the rise in the personal disposable income of the people, there is an increase in the demand of the automobiles.
The Automobile industry and auto dealers are expected to increase the customer’s satisfaction and make sales and services more efficient which they can easily handle using SMS marketing service as one the best means to reach and fulfil the customer and client’s needs.
Along with the explosion of internet and mobile services it has changed the dynamics of how the automobile industry captures and target new and existing customers. SMS marketing has become one of the most effective marketing tools that help the business to grow and expand in the long run.
Here are some benefits of SMS marketing that will help in enhancing the performance of the automobile industry-
Details about their new launches
The company can easily provide the details about the new product launch, new features and upgraded versions of the car through SMS marketing. Text marketing service has the highest number of conversion rates as a comparison to any other marketing tool adopted by marketers in recent times. It enhances the user satisfaction and brand image of the company. SMS services can help auto dealers in generating leads, promotion of their brands with the exciting offers and provide them with after-sales services alerts.
Easy access to queries/complaints
SMS marketing helps the companies to access complains and query of the customers in no time and also sending reminders about the vehicle service, test drive dates etc. Customers can easily send their queries related to after-sale services, new product launch etc. Through SMS so that company can serve to its clients. The company can also share safety tips to the customers and how to drive safely in traffic jams, rain and to utilize the fuel efficiency which will help the customers as well as the company.tt
An efficient communication channel to the customers
SMS marketing is one of the most effective communication channels to customers. SMS alerts sent to customers to collect their vehicle on service completion, warranty expiration, special service camps, and events etc. which enhance the customer loyalty towards the brand. The company can also send birthday wishes, purchase anniversary and greetings to customers on festive seasons which will boost the sales during the festive season.
Message marketing services are cost-effective to reach your customers base as it not only target new customers but also engage the existing customers with the brand. Thus, it can help you to drive your conversion rates.
There are lots of events organized by the automobile industry such as auto expos, product launch events, etc. So, the company should invite its loyal customers to such events which will enhance the customer interaction with the company and also help in targeting new customers. If the company focuses on customer satisfaction then, customers will make business for you.
These events are a huge opportunity for the company to target new customers and spreading word of mouth about the brand. You can easily share the event details through SMS and can confirm their arrival through SMS as well. SMS marketing is one of the trending marketing tools used by the companies and SMS marketing has 98% conversion rates.
SMS or text messaging can be easily used to get customer feedback or online reviews about the company and the product a particular also. It will help you to make the strategic decision about the new product launch, penetration of the product and can come up with strategies to enhance the market share.
Feedback survey that will be helpful for the development of the company as a company can work on the weak areas and provides customer satisfaction. You can easily gain customer trust and loyalty about the brand.
The automobile is the fastest growing industry needs reliable branding and promotional services regularly. Text marketing works at its best from engaging the customers to capturing the target market. Not only is it one of the most effective marketing methods available, but our SMS services are cost-effective too. So, if you are a well-established business or a startup you must use SMS marketing in enhancing the customer retention ratio and brand visibility.
E-commerce is the new trend and among the highest-grossing sector in recent times. E-commerce has bridged the gap between companies, their products/services, and customers along with saving customer’s precious time. With E-commerce everything is just one click away and easy to reach. E-commerce has successfully tackled huge barriers to the market and raise the standard of the market itself. All this is the reason that e-commerce business has becomes today’s need and reaching great heights in the market.
SMS marketing solutions has added on to their worth by enabling the highest reach and functioning for their goodwill. The role and importance of SMS marketing can’t be denied due to various benefits and great impact. Here we are underlining the vital role of SMS in e-commerce customer acquisition and which are as follows –
Higher reach –
The great benefit of SMS marketing is that they have a much higher reach. As everyone uses mobile phones so there is no restriction on the type of devices so the reach multiplies itself. It can target various types of audience and approach them accordingly. The higher reach helps in acquiring customers along with improving customers’ experience and their response towards the e-commerce sector.
Understanding customers choice and needs –
Text solutions are the best source to understand customer’s choice and their needs. As with every message they are likely to take interest in a few of our products/services and will engage according to what suits them. This helps e-commerce companies in better exploring the choices and requirements of customers and thus engaging them accordingly. If they like your product/services they will engage automatically and hence it will help create a strong customer base.
Better decision making –
E-commerce companies are creating products/services according to customers. Text marketing plays a vital role in realizing their needs, requirements, choices, and thereby work accordingly. This helps companies in deciding their next products/ services or market launch. They can take better decisions which are good to go with the company as well as customers. It helps them to elevate their market positioning along with building a healthy position within the customers.
Feedback approach –
Feedback is the best approach to engage with customers as they feel like they’re heard and understood by the company. It helps them to elaborate on their expectation and choices so that company can work up to mark. It’s fruitful for the company as well as they understand their strong points and loopholes and can perform best in the market. The companies try to eradicate every loophole and are better every day. This enhances their market position and helps in the overall development of the company.
Dwelling from the inbox into customers' minds –
The text marketing services plays an efficient role in dwelling into the customer’s mind. It begins with simple text with the target of engaging the customers and with time your product/services dwell into customer’s minds. This enables customers to choose your services over anything and thus forms a strong customer base. It helps to build loyal long-term customers and helps in the growth of the company.
SMS marketing is a boon for a pioneer in e-commerce to highly established business as it is cost-effective along with showing effective results. The cost in customer acquisition is much lower than in any other type of marketing. A cost of single text is easily affordable by companies and it provides maximum reach and a strong customer base. The cost-effective aspect of SMS reseller services highlights its importance and therefore SMS is used as a medium to reach customers easily and effectively.
The importance of SMS in every sector is huge due to its enormous benefits. It provides every basic to high-level approach that a company needs and thus it is chosen by every marketer. The SMS is the best and easy way, to begin with along with targeting the maximum audience and thereby maximum output. It works on enriching customers’ experience and increases their response rate. It works for both the marketer and the customers and creates a healthy space between them. SMS solutions play a vital role in raising the market position of e-commerce companies and thus bring a healthy future to them.
E-commerce has a huge history as it just started with a basic idea of sale and purchase. With time it attracted many pioneer business personnel and service providers. The clear picture of e-commerce is reflected by elevating it with correct marketing strategies, investment, and business plans. With the evolution of digitalization, the e-commerce sector got the major breakthrough and emerged as the most profitable sector with maximum future growth, huge potential to generate employment, providing services at door and much more.
The modern trend is the online trend where each and everything is made available on smart devices. People are so used to online shopping that it’s easy for E-commerce industries to grow and excel in their work.
SMS marketing is one of the bases of the E-commerce sector which lays the foundation for engaging mass customers. The best SMS service provider can bring maximum engagement towards their company by keeping track of their potential customers. Today everyone is equipped with their phones and SMS marketing is a perfect way to capture their attention. Knowing about their choices, interest, requirements, and expectations from our product/service.
Advantages of using SMS Solutions –
Popping up the notification -
Popping the notification is an essential part of SMS marketing. This is a sincere way to keep your customers up to date about your recent services, products, and offers. Notifications are used to remind customers about your work, your services, offers, and much more. If the consumer is interested, they will look forward to it and engage more with your company/services. It keeps them reminding of your business and promote them to spend more time with your website and know about your company.
A quick way to reach people –
As messages can reach anyone with any mobile device so SMS marketing is effective in targeting a large audience. The maximum population carries mobile phones all day around them and their engagement with SMS is relatively high. It engages people and generates excitement to explore more about your services or products. Hence, bulk SMS marketing can reach maximum people, generate potential customers, and grow your business.
Increased sale –
The best part of SMS marketing services is that it engages the maximum customer and hence increases the checkout rate. We can go for automatic reminders so our customers will be updated by our recent offers, discount, any product, and much more. Frequent reminders help customers to keep in mind about your services and offer and thereby it increases check out rates. And with increased customers, the rate of sales increase benefiting the company raising their turn over. Along with this, it helps the company to raise its market standard and grow as a strong competitor in the market.
Customer Retention rate –
It’s important to keep your customers on track for creating loyal and long-term customers. SMS marketing is the best way to perform this as customers always know about your offers, latest trends, and your services and take more interest in your business. This way customer feels special as you made everything easy and available at their phones and as a result, they find more comfort with your company/service. With time and proper strategies along with making regular efforts, it can increase customer retention rates.
There is no doubt that the cost of text message marketing e-commerce is lower than any other medium of engagement. Even a pioneer can choose this medium rather than spending large money on any other method. The SMS marketing for e-commerce has helped to reach maximum people, generate potential customers, keep track of customer’s choices, needs, and suit our pockets. It is profitable from pioneer to renowned businesses.
Suggested Read – Does SMS Have a Role in E-Commerce Customer Acquisition?
Strengthen customer engagement –
SMS opens up the platform for two-way conversation as it provides options for customers to engage with you. These open-ended conversations build customer faith and interest in your services/company. It feels them that your business is more accessible and they are comfortable with your business, services, and product. It builds loyal customers and uplifts your market value. It’s necessary to keep in contact with your potential customers to avoid the risk of losing them or creating any negative impression. SMS for e-commerce has successfully strengthened customer engagement.
Bulk SMS services are one of the most effective marketing strategies in today’s times. The rise in mobile users and technology up-gradation has changed the marketing and promotional strategies adopted by the marketers in all the sectors. With the cut-throat competition, SMS marketing provides a sigh of relief to marketers and customers.
With 98% opening rates and high conversion rates, no other marketing channel has offered such an efficiency rate, making it a widely used marketing tool in the financial sector. It is a cost-effective and most convenient way to target potential customers.
Let’s see how the financial sector takes advantage of bulk SMS services in enhancing their revenue and customer base-
It attracts new customers -
Bulk SMS solutions have a wider reach and help the company in enhancing the customer base. Through bulk messages, they send information about the account opening process, Inform customers about special offers, let customers know about security concerns and services such as easy payment options, etc. The company aims in providing easy solutions to the customers through SMS services as it has the highest conversion rates and keeps the customer updated about regulations in the financial sector through SMS.
Sales lead generation -
Bulk SMS marketing is a simple way for any business to engage with its consumers. You can send out offers and opportunities and easily communicate with your target audience. It provides one-way interaction to the customers with the highest conversion rates. The opportunity of customizing your promotional message reaching people according to their likes and preferences becomes very easy with the right SMS Marketing plan. Thus, it helps the company to maximize its profits in long run.
Better communication -
SMS marketing provides better communication opportunities with customers. SMS notifications and promotions by banks and finance companies have made transactions easy for the customers. The company can easily send information related to Monthly installment reminders, SMS confirmation messages when you withdraw money from ATM, a new policy, opening a new account, market new products and services directly through SMS, and increase purchase rate.
Text marketing solutions is one of the most effective marketing tools used by marketers. It can easily target the numerous customers at the negligible cost. As such, this solution is not only more cost-effective but also offers a much higher Return on investment (ROI). So, even with a small budget, a start-up could reach thousands of potential customers quickly with little effort.
Thus, it is the right choice for any business that is looking to reach out the potential customers and don’t want to spend much initially. SMS marketing is a tried, tested tool used by marketers around the globe.
Enhances credibility -
It enhances the credibility and goodwill of the company such as banks, insurance, brokerage houses, etc. in the financial markets which helps them to attract potential investors. Clear communication ensures faith and confidence among people in the financial system of the country. Thus, companies are given a high credit rating by the agencies which help them to attract the potential customer and retain the existing ones.
Better decision making and control -
Bulk SMS also makes it easier for financial industries to make better decisions by ensuring proper feedback from the customers. It helps them to reach out to a large number of people and collect feedback. Not only better decision bulk SMS services also control fraudulent activities against their customers. By sending them a regular notification, easy ATM blocks services, easy click options so that the company can control cyber-crimes and frauds associated with the financial transactions at their end.
Bulk SMS solutions are widely used by marketers to attract and retain their customers across all industries. It is a cost-effective marketing tool with the highest number of conversion rates. Bulk messaging is a perfect platform to be used for organizing entertaining mobile marketing campaigns that can not only help you raise additional revenue but also make people remember your brand and stick to it. This is the reason why SMS delivery is one of the best solutions for businesses aiming to reach a specific audience, locally or globally.
So, it doesn’t matter whether your business is small or large SMS marketing will help to grow and enhance your customer base in the long run.