Credit Unions exist to serve their members — and provide the members the experience they seek. If retailers, pharmacies, banks, and many other industries are already enabling their customers to engage via text messaging, then why should credit unions lag behind?
Traditionally, credit unions have communicated with members by phone or email. This process can make it difficult to quickly obtain member information, which inevitably delays the process to approve loan applications, and impedes other critical daily operations. Why not provide members with their preferred way to communicate? Text Messaging Solutions for credit unions is a way to meet member demands, by providing an additional way to communicate. With 95% of text messages read and responded to within 15 minutes or less, it’s clear to see why business text messaging is a powerful way to engage with members.
Two-way text messaging is a powerful addition to any credit union’s list of contact methods — and a necessary one, considering texting’s role as a primary point of business communications.
The Benefits of Text Messaging Solutions for Credit Unions
Texting is not the newest or most cutting-edge form of communication; however, it is extremely convenient and effective. When considering credit union members, many don’t have the time or would prefer not to engage in a full phone conversation to ask a simple question. By leveraging text messaging solutions for credit unions, teams are empowered to provide members with actionable information in a more engaging and meaningful way while communicating in a manner that is preferred.
Member Satisfaction Elevated
Your members may already be trying to text you via your landline. The bad news of this is, you’re missing out on opportunities. In the digital age, members are seeking ways to interact via their phones, whether that be through social media or text messaging. Gartner, a leading research and advisory company, shared that by 2020, 85 percent of all business interactions will take place without human interaction. Waiting until 2020 to implement a stronger digital presence and texting service for business could affect your customer satisfaction today. Customers also want interactions to be on their time and waiting for return phone calls just doesn’t fit into this. By opening another line of communication with members, you’re also more likely to hear about complaints and be able to resolve them. In the world of online reviews and social media, this is great news for credit unions. Why not start now?
Member engagement is quick, easy, and generally better when using a business texting service. Credit union members are much more likely to respond when you make it simple and top of mind. Providing members with the additional method to engage and communicate via text adds a touch of personalization.
Preserve Text Conversations
When sending information out to members, requesting information from them, or even communication with internal employees, it is important to keep a record of conversation history. It’s also imperative to note that not all text messaging solutions for credit unions are the same. To get the most out of your investment, choose a solution that automatically archives your text conversations and stores them in your email. This way the information can be accessed anytime as needed.
Real Time Reports
When choosing text messaging solutions for credit unions, it’s ideal to select a tool that provides you the ability to keep track of conversations between internal employees and your members by simply running a report. Having access to these reports helps branch managers stay ‘in the know’ and gives you the confidence that your credit union is using every tool to its advantage.
Using Text Messaging in Your Credit Union
How a credit union utilizes text messaging is as important as the decision to use it. The most important point to remember is that text messaging goes two ways — both back and forth.
Loan application hassles solved
How many times have you started the loan application process, discovered you needed more information, and then had to play phone tag over hours or days before you could get that piece of information, then finally complete processing the application? It’s an expensive headache that that plagues credit unions today. Luckily, this can be solved by investing in a text messaging solution. Enabling loan officers with an alternate and preferred communication method for members while efficiently obtaining information needed to complete the loan process is a substantial game changer. How great would it be to open more accounts and process more loans, by simply using text messaging solutions for credit unions?
Enhanced Customer Service and Support
With customer service being a primary focus of most credit unions today, the advantages of texting are obvious and substantial. A credit union that allows its members to engage in an ongoing, threaded text conversation certainly opens the door to higher member satisfaction. With that being said, the same member representative who answers the phone can just as easily reply to a text via their computer. Members who might be hesitant to call with questions can now send a quick text, receive an answer, and decide whether and how to continue engaging.
Consider integrating text messaging as part of your process. Whether it’s to provide general member service and support, answer questions about products or asking for and providing information needed to complete a loan.
Ready to get started? It’s easy. TextBetter uses your email account to transmit text messages to and from your landline number by simply pairing the two. You’ll send, receive, and manage text conversations directly from your business email. No downloads or software installs either. Simple, right?
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.
Have questions on how TextBetter can make business text messaging work for you? Call or text us today at 800-322-1112
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