Like retail and healthcare sector, even financial sector has clearly understood the ubiquitous impact of the Mobile messaging platform. It is crystal clear that many industries are capitalizing upon the mobile marketing platform, which is not only easy to use, but also is cost-effective and secure at the same time.
Unlike other forms of marketing, Mobile marketing has got its own distinct advantage, which is basically low marketing costs.
How mobile messaging can benefit the financial services sector?
1. Streamlined client services: There are a huge number of customers who doesn’t have the time to call their respective financial service providers and ask for information because it’s a time consuming process. With the efficient use of the mobile messaging platform, customers can directly SMS their query to their accountants / financial consultants / financial planners / tax consultants and hence expect for a prompt reply.
2. A safe and secure authentication: Security plays a prominent role in the financial services sector. SMS ensures the authentication of transactions, as all the account updates, password resets, financial information etc., is exchanged in a secure manner.
3. Conducting customer surveys: Taking up the customer survey activity through the Bulk SMS platform is considered to be highly rewarding. Asking a question to the targeted customers will bring in huge response rates and thereby encourage for harmonious relationship with the customers.
4. Publicize urgent information: In certain scenarios, financial organizations might want to disseminate urgent information to their respective clients. It might be related to a sudden market development, alerts wherein customers have to respond to account updates etc.
5. Ease in mobile banking: Mobile marketing has come out with result oriented concepts, which has been integrated in the mobile banking platform. In fact, customers all over the globe are highly satisfied with the mobile banking platform, as it saves their time and helps them with their usual bank related activities. Customers can handle their bank accounts efficiently through the medium of mobile messaging.
Fraud is another big hassle in the financial services industry. To prevent fraud in the financial services industry, companies can engage in 2-factor authentication wherein they can send a one-time password (OTP) to their respective customer’s mobile phone. This in turn helps in preventing access to customer’s confidential information.
Through the Mobile marketing platform, the fraud issue can be stopped entirely. When SMS is sent to the customers, most of the customers read the text, which in turn helps in building customer engagement and loyalty, thereby eliminating fraud. In fact, in some peculiar scenarios, banks can alert their customers about a potential fraud that might take place with their respective bank accounts.
Around 80% of financial service organizations are using or are eagerly planning to use the Global SMS messaging solutions to build customer engagement. To top upon that, around 83% of financial service companies believe that the mobile messaging platform has a positive impact on their brand reputation.
88% of financial based companies believe that they are able to communicate with their customer’s effectively. 47% of financial service companies have stated that the mobile messaging platform is highly effective, when it comes to undertaking customer surveys.
