Add Value to Your Member Engagement Strategy with Text Messaging
September 28, 2021
Long gone are the days of stereotyping the financial services industry as stiff and dry. Today’s consumers value unique and personalized communication to better serve their needs. That’s why more and more credit unions all over the world are utilizing text messaging as a way to reach and connect with their members.
According to Strategic Link partner and leading text-messaging provider Eltropy, the benefits of texting are plain and simple.
- It’s What Consumers Want
A Twilio study of more than 6,000 consumers across North America, Europe, and Asia found that 9 out of 10 consumers want to use text messaging to communicate with brands. Additionally, 66% of consumers surveyed indicated they prefer to reach brands or be reached by brands via messaging over any other means of communication. A whopping 85% of consumers want to be able to not only receive a text from a business but also answer a message from a business.
- It Saves Credit Unions Time and Resources
With text messaging, credit union teams can easily expedite the often lengthy and tedious loan application processes by requesting important documents over text. Eltropy provides credit unions with a secure link for document collection to ensure the safety of sensitive member data. Collections departments have also seen a direct benefit when implementing text messaging. Billing reminders can be sent over text, reducing the amount of time otherwise spent waiting on return phone calls, relieving headaches for both collections agents, and members. Credit unions can even use text messaging to communicate promotional offers, emergency alerts, and other important information in a timely fashion.
- It Offers Valuable Analytics on Member Behavior
It’s no secret that collecting analytics is imperative for any business. Eltropy’s solution tracks 24 key data points, giving credit unions insight into who is viewing product information, how long they spend consuming the content, whether or not they forwarded a message, and more. This helps credit union teams prioritize highly engaged members and nurture prospects. Eltropy’s platform also archives all two-way texts in a credit union’s CRM system to help inform current and future decision-making.
Ready to implement text messaging at your credit union? Learn more about Eltropy online or contact the Strategic Link team to get connected. Additionally, Eltropy will be waiting to meet with Northwest credit unions at the 2021 MAXX Strategic Link Trade Show in Boise, Oct. 5-7. They can be found at booth #78.