The most significant shift in customer service since the 1-800 number is under way. Credit Unions are choosing to implement business text messaging service to support communicating through text as members have come to prefer this method with other businesses they engage with. Credit Unions are realizing that their members want to do more than talk and email when it comes to personal banking. Since we live in technology driven and dependent times, its essential that Credit Unions implement a mobile technology strategy that provides an alternative communication solution like business text messaging for its’ members. The strategy should address timeliness, convenience and accessibility with having the member relationship top of mind. Implementing business text messaging for your Credit Union supports each of these aspects.
Technology is best when it’s simple to use. Members desire swift responses to their questions that do not necessarily require a lengthy phone call. Not only is it effortless to use text to answer simple questions, it supports the member relationship with the Credit Union in a positive light by providing timely answers to simple questions. Leverage text messaging service to send automatic responses to members after hours, when a Loan Officer is out of the office or over the weekends to share banking hours. This means your doors are always open to the members.
A Business text messaging service helps support the Credit Union staff as well as the members as the dialogue is always open and transparent. By using text messaging throughout the loan process, Credit Unions have been transformative while eliminating several days overall to the entire process. Additionally, text can be used for:
- Share loan application status
- Provide detailed next steps and what to expect in the loan process
- Schedule appointments to sign documents at a specific branch
- Request additional or missing documentation needed to move the loan process forward
- Get answers to time sensitive questions faster during busy day time hours
- Hours of operation
- Out of the office responders
- Member satisfaction/Branch surveys
- Sharing disclosures
Using business text messaging service makes it very convenient for the members and the Credit Union to communicate. Credit Unions are seeing a reduction in loan processing time by having the ability to collect loan documents through text. It’s never been easier to both send and receive necessary documentation such as photos of required paperwork, forms, and more via text message. Gather all supporting documentation in seconds and eliminate unnecessary phone calls and emails. The goal of implementing business text messaging is to provide and secure and convenient way for members to communicate with you. The ability to send real time answers to their questions directly to their mobile device is exactly what members want.
As mobile usage continues to grow, members increasingly are expecting interactive mobile capabilities. The majority of people choose texting over calling in their personal lives due to the seamless nature that texting provides. A Credit Union that is accessible to its’ members via text provides a great opportunity for business. While Credit Unions are notorious for great interest rates, leading technological enhancements for its’ members hasn’t been at the forefront.
Business text messaging service enables the ability to deliver actionable information in a preferred and a more engaging way, giving members more of what they want. Let’s think about this for a minute, texting is quicker than a phone conversation; it does not require small talk or niceties such as “how is the weather” that takes up valuable time. Text is a highly accessible way to respond and to be available to members that do not wish to have a phone conversation, and who may otherwise avoid having important questions answered.
Your business is built on relationships, and relationships are built on communication. These days, people prefer to communicate by text message, both personally and professionally. Text is personal and is what members want, and it shows. The data shows that in the financial services industry, emails have less than a 3% click rate. Comparatively with text, it’s under 3 minutes. Is text more effective and easier to use/respond to? Yes, it absolutely is. When making it easier for your members to do business with you, stronger relationships are built which is great for the Credit Union and member. Business Text messaging service helps facilitate and continue to build upon the member-Credit Union relationship. Continue building on the great relationships that you’ve established and working on establishing with integrating text into the day-to-day process.
TextBetter™ is a business texting service that makes it easy to send or receive texts from your landline number. Our cloud-based service effortlessly integrates into your existing business model, without having to install new software or change how you do business. Through our three separate product offerings, we proudly cater to organizations of all sizes: TextBetter Basic, TextBetter Business, TextBetter Enterprise.