For any modern financial institution (FI), one-to-one communication proves to be a valuable messaging tool. In its purest form, it can be used for payment reminders or holiday greetings. But with the right solutions, it can be harnessed to improve your direct outreach to account holders.
Two-thirds of smartphone users enjoy receiving service-based text messages from their financial institutions. Knowing that your communications are welcomed, why wouldn’t your FI take advantage of this opportunity? Read on to learn how your FI can now easily benefit from this reliable communication tool by integrating modern applications.
While sending lock-screen notifications to account holders comes with the mental imagery of hours of labor, that is not the case at all. Further, thanks to the automation and segmentation features of a few of these solutions, you can reach the right account holder at the right time with the right message.
Modern one-to-one communication solutions not only help you automate your communication but also integrate with your audience database seamlessly. This process ensures that you can develop, integrate and send personalized message campaigns within a few seconds. Your FI can promote new loan products or service offerings to the audience segments who qualify for those products.
When you utilize software-oriented solutions such as the Larky nudge® engagement platform, you can easily leverage the system for product promotions or engagement activities. The consumer-facing mechanism of lock-screen notifications ensures that your messages are sent directly to your consumers when the message is relevant to the user and doesn’t get lost in their spam or junk folder like emails often do.
As noted earlier, using one-to-one communication messaging for banks and credit unions can improve your FI’s outreach by a significant margin. Account holders open emails only about 20% of the time, but it’s almost guaranteed that they’ll read your lock-screen messages.
An email takes an average of 90 minutes to elicit a response, but a lock-screen notification requires only 90 seconds. The short-form structure and easy accessibility cuts through the clutter of images and layouts and instead allows for fast reading of relevant information. And with the Larky nudge® platform, your lock-screen messages are timely and targeted based on the account holder’s location and specific needs.
This ensures that using an engagement platform for your texts provides you with the required return on investment (ROI) while also strengthening your overall communications with account holders.
Lock-screen messaging is not only an essential asset for connecting with your audience but also a powerful instrument for cross- and upselling strategies that require audience engagement to be sustainable. Larky’s powerful analytics give you the advantage of knowing your account holders’ concerns, needs and interests so you can reach out when it matters.
As a result, you can benefit from making timely offers, ensuring faster complaint resolution and handling inquiries more effectively, which can lead to a higher member satisfaction rate. Overall, it provides your FI with an edge over those competitors who are too dependent on emails or phone calls to resolve account holder concerns in a modern way.
An easy-to-use yet highly effective engagement solution like the Larky nudge® platform provides you with all the tools you need to establish modern text messaging for credit unions and banks. Our solutions can help your FI cultivate a better connection with your audience with robust analytics, fast deployment and easy integration. To see how we can help, don’t hesitate to request a demo today. We will be pleased to understand your requirements and help you benefit from next-generation communication services right away.