Financial services should use a business texting service

There is a significant opportunity for financial institutions to create and strengthen borrower relationships while accelerating the loan process. It’s really as simple as making text part of the communications strategy by using a business texting service. Whether it’s processing a home mortgage, a personal loan or financing a new car, integrating text as part of the process, can help speed up loan processing time while improving customer satisfaction. Using a business texting service enables financial institutions to communicate with customers on another personal level.

Text provides convenience

With text being the preferred form of communication today, the increasing demand from potential borrowers to text with their financial institution is increasing. From the initial outreach and communication throughout the loan approval process, clients not just expect, but also appreciate their lender reaching out to them in a preferred and convenient way.

Customer lives have become busier, and the need for quick answers, easier connection while maintaining great customer service that fits with their lifestyle is essential.

Benefits from start to finish

It isn’t just the volume of loan documents that takes so much time, it’s the emails and phone calls you have to place throughout the process. Using a business texting service can be a considerable benefit across the entire lending cycle. Leads often come from a variety of places. In the initial prospecting stage, it’s critical to provide and allow a variety of communication channels. You’ll close prospects by allowing them to choose their communication method and will maintain the personal touch that they expect during the process.

Business texting service

Text messages get read

It is REALLY easy to overlook an email. It only takes a swipe or a push of a button to dismiss a phone call. Text messages get read and responded to fast! Using a business texting service enables your customers to respond to you by phone call or text, whichever is most convenient for them. The largest banks and financial institutions have been using text for years, and it’s no surprise why. Statistics say that 95% of all text messages are opened and responded to within 15 minutes or less. This is much higher than email, which has an average open rate of 32% and even lower response rate.

In our next article, we’ll dive into the specifics of how financial institutions are using business text messaging as part of their everyday process. In the meantime, to learn more about integrating business text messaging in your process please reach out to us today.

About Us

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.

Is texting dead?

I found an article the other day titled “How Text Messages Are Being Killed and Replaced” that was written in December 2014. In the article, it was concluded that since

  1. Text messaging is a 20+ year old technology (so now it is REALLY old technology),
  2. Has character limitations (160 characters per message) and
  3. You can’t send special characters such as emojis,

that other applications will replace it such as Facebook Messenger, Snapchat and many others. Continue reading “Is texting dead?”

18 Stats That Show Why Businesses Need To Text

Business Texting StatAre you using texting in your business as part of your communications strategy with both customers and employees? If you aren’t, why not? Both customers and employees want to communicate more through texting. Remember, it isn’t 2005 any more. Check out these amazing stats to see why texting has become so popular.

• 97% of all text messages are opened in less than 15 minutes

• Less than 1% of all text messages are spam.

• 30% of consumers interact with a brand through text messages Continue reading “18 Stats That Show Why Businesses Need To Text”