Mobile communication through SMS is one of the most reliable forms of communication for businesses. Fintechs are using Bulk SMS to interact with their customers and deliver exceptional customer experience. Bulk SMS services are beneficial to an organization as they can give it a competitive advantage over other players in the financial sector. Bulk SMS can help with the fast exchange of information for better management of customers and marketing. There are many reasons why those in fintech need to use Bulk SMS, we have prepared the following for you.
1. Inform existing customers about new products
In case your company decides to offer customers with a new product, it is important to choose an efficient communication approach. Investing internally is always an attractive opportunity that can result in massive benefits if a company uses the right mode of communication to entice its customers. Bulk SMS provides the most ideal way to inform your customers about such offers. With this type of service, your company will be able to reach out to a huge population and at a very limited cost. Offering new products and services through Bulk SMS is a brilliant approach to advancing customer experience.
2. SMS campaigns to attract new customers
SMS services are a great way to contact potential customers and inform them about the products you can offer them. Bulk SMS campaigns are also an effective way to encourage existing customers to upgrade their accounts for better privileges. For instance, you might launch campaigns that inform customers of the benefits of a referral program. Since SMS services reach customers directly, they can't resist this offer. As one of our main clientele, Vinestalk Kenya realized the benefit of SMS campaigns when it significantly transformed their scale of operations and customer base.
3. Notify customers about special offers
There are times in every business when they want to offer special deals to their customers. For fintech, special offers could include discounts on repayment amounts, loan top-ups, or even reduced interest rates. Using Bulk SMS in such cases is one sure way to hook customers. Additionally, fintechs are turning to Bulk SMS to enhance their marketing efforts since occasional messages can lead to higher sales and improved customer engagement.
4. Inform customers about security concerns
Unfortunately, every business has moments when they have to contact their customers about security concerns. For instance, scams are rampant in the financial industry, which makes it necessary to inform customers when one emerges. Your company must do everything possible to let customers know of all the precautions they need to take when conducting financial transactions, especially online. Bulk SMS provides a simple way to notify your entire customer base about recent potential scams.
5. Remind customers about loan repayments
Keeping track of payments for a large customer base can be challenging especially loan repayments. Fintechs need fast, safe, and basic mobile payment integration for swift operations. Although most customers are wary of financial missteps, they are rarely proactive enough to manage it well. Your company can take care of this problem by sending out payment reminders to customers through Bulk SMS. Customers can also request their loan balance via SMS.