Text message marketing is a powerful strategy that can be used by a company to engage with its customers. In today’s competitive world, customer engagement is the key to a business to success. While there are more ways of reaching out to customers, text marketing involves the use of text messages to reach out to customers. There are many advantages to using text marketing. This explains why more and more businesses are using text marketing.
Why use text marketing?
A text message is a convenient way to communicate with anyone. All that is required is a mobile phone. It need not be a smartphone, even a basic phone can receive text messages. It does not require internet connectivity. An SMS message can be sent over the mobile network. This makes it convenient even in rural areas and far off areas where internet connectivity can be poor. This is why text messaging is the most convenient.
Marketers make phone calls to customers, which they don’t like as they find it intrusive. Email marketing is not effective because of strong spam filters that classify such emails as spam. This makes text marketing the best marketing strategy. Text messages reach instantly and more than 97% of all text messages are ready. The recipient can read the message at their convenience and reply to it too. Studies have shown that more than 90% of customers prefer receiving marketing messages through text messaging.
This makes text marketing the best way of engaging with customers. Companies can use one message and send it to multiple recipients. With the use of texting software, it is easy to send messages to thousands of customers in an instant. It is even possible to send personalized messages to customers. This is why businesses should adopt text marketing for customer communication.
Text marketing for Small business loans
Small loans are offered by financial companies that provide assistance to small companies. There are thousands of small businesses that need capital to run their business. Small business loan firms can help them by providing loans. These companies need to reach out to small businesses to let them know that they can provide a loan. This can be done through text message marketing as follows:
1) Providing information
A small business loan provider can send text messages to potential loan applicants. The message can introduce the firm as one that provides loans to small businesses. The message can provide basic details and give a link to the website that recipients can click on to get more details. A separate page can be made on the website that can be used to track how many people visited based on the message. This can help in analyzing the effectiveness of text message campaigns.
2) Use interactive messaging
One of the most powerful applications of text marketing is the use of interactive messaging. This can be done using keywords. The message sent to a potential loan applicant can include keywords. For instance, the keyword DETAILS can be used to get more information. The customer can send this keyword as a reply to the message. The texting software can be configured to send details in response to this message.
Similarly, the keyword APPLY can be used to indicate that the customer wants to apply for the loan. In response to this message, an application form link can be sent through SMS. Information on how to apply can be provided in a webpage link. The keyword CALLBACK can be used by the customer to request a callback. The small business loan provider can then call the customer to clarify doubts and provide more information.
3) Send loan details and reminders.
Details of the loan can be sent through text messages. The date the loan repayment is due, the amount to be paid, and other such details can be sent through an SMS. Sending reminders is an important activity to be done by loan providers. They need to send a message reminding the customer to repay the loan installment on time to avoid penalties. These messages can be sent a few days before the loan is due and the message can be repeated daily until the due date. This can be automated by scheduling messages to be sent.
4) Follow up for repayment
In the loan business, there would be many customers who default. Follow up for payment has to be done. This can be done using SMS. Text messages can be sent to remind of missed payments and its consequences. This kind of follow-up can be done through messaging.
Small business loan providers can use text marketing and increase their customer base. They can lend to more companies allowing them to earn more profits. If you have a small business loan firm, you can reach out to your customers using text marketing. This is a cost-effective and efficient way of marketing.
