Today, many large corporations are a serious threat to small businesses, causing a lot of competition. But, fortunately, there are certain opportunities like free tools for making your logo design or promotional tools available to local businesses. One of them is convenient payment methods via SMS. What advantage it gives and how it should be applied in practice – read on.
The success of any business is the right cooperation with customers. It’s the experience of solving their problems so that everyone returns to you again. Therefore, in this regard, any nuance is important, especially when it comes to finances.
Advantages of SMS payments for the client
Saving time. People do not always have the opportunity to visit the company, it is more convenient for them to do it from home or where they are directly located. After receiving the payment link, the person immediately sends the funds in response.
Security of funds transfer. The link from the company with which the client cooperates is confidential and secure. Therefore, he can trust the received information.
The versatility of payment methods. A person can use funds from any card and any system.
Promptness of payment. As practice shows, most clients send payment immediately after receiving the link.
Another advantage that appeared relatively recently in connection with the global pandemic is contactless communication. More and more people prefer remote collaboration, and many companies still work remotely. More people prefer to use video interview recordings instead of real-life interviews. As the survey shows, most people who have even been vaccinated against the disease continue to refrain from contact with others.
Benefits for the company
Automated sending of SMS. This includes not only payment links, but payment reminders, useful information about updates, and more.
Optimization of working resources. Thanks to the fact that the work with payments is set up automatically, there is no need to monitor everything related to them – delays, tracking the movement of funds.
Universal service. Today, smartphones are used for everything from validating biometric door access control systems to financial service access. Customers automatically have the opportunity to receive messages from the company with links to payments and make them in response from their mobile devices.
Are there any downsides to this process?
It is worth paying attention to the fact that when paying payments with a credit card, a fee for processing transactions without a card is charged to the company.
The process of setting up SMS payments
In order for the process not only to start successfully but also to function for a long time, it is necessary to think it through in detail. And not the last moment is the choice of a working platform or service from which payments will be made.
First, you need to activate the client’s phone number. It must be a mobile device because landline phones do not support such a function as text messages. It is better if the phone number for calls and messages is the same. This makes it easier for customers to remember it and use it at the right time. From the same number, you can call to get a customer’s feedback about the company’s work.
Next, you need to choose the SMS provider with which it is most convenient to work at the moment. According to the corresponding instructions, which are available on the website of each provider, set up notifications with payments. This is quite convenient since each step and its interaction with the next one is described in detail.
When the mailing is ready, it should be carried out by notifying customers about the new service. To avoid an unpleasant situation when the client will perceive the received information as manifestations of fraudsters, it is worth warning about the appearance of a new service. Otherwise, you risk losing customers due to mistrust. You can also add a DMARC setup to avoid getting into spam folders.
What is the best way to notify customers about the possibility of SMS payments? Send a message or e-mail on behalf of the company. Also, don’t forget to post it on the company’s official web portal, because customers will want to find confirmation of the information they received.
All! The process is started, and you can start using the new service and offer it to customers. As many companies confirm, the number of on-time payments through SMS notifications increases significantly already in a short period of time.
3 points to focus on when working with SMS payments
A secure platform. You should choose the most secure platform for financial transactions that will satisfy the company and inspire the trust of customers.
Build the right dialogue with the client. In order for the client to want to use the company’s services, it is necessary to always meet his expectations, make cooperation with the company easier and ensure the highest possible results at each stage.
Feedback. Always ask the client if he is satisfied with the cooperation and if he has any wishes or comments. This helps companies to operate their operations even more efficiently.
When do SMS payments not work?
There are several reasons why your mailings may not work and you should definitely analyze them. Example:
– Complex payment process.
– The client lost the online invoice.
– There are no means for payment on the account.
– There is no responsibility for debt to the company.
In order to avoid such moments, before sending the payment link to customers, you should send a reminder that it will happen soon. This will help them remember to top up the card balance or leave the required amount on it.
What opportunities do SMS payments open for companies?
Modern people are getting busier every day. Therefore, they value time almost the most out of all available goods. And text messages are a vital communication channel, thanks to which the performance of routine tasks is significantly simplified.
Taking this into account, companies in their development strategy and terms of cooperation with customers put the way to save their time in first place. That is why SMS is key in this process. Here are five benefits of using them in the financial world at large:
1. SMS becomes part of a multi-channel strategy. This is optimization not only for customers but also for companies. As well as quick information about planning and canceling meetings, updating services, confirming orders, etc.
2. Targeted marketing offers. By communicating with the client via text messages, you will always be able to notify him in time about all important marketing offers. Today’s customer is usually busy, so he prefers to receive information on the go.
3. Confidentiality. All information you send to customers is secure.
4. The best alternative to postal messages. This advantage can not be analyzed, since everyone well understands the time spent on the delivery of SMS and postal messages.
5. Simplifying the work of the financial and accounting department. Thanks to automated work, department employees have more time for strategic planning and other important matters. After all, payments from clients are received centrally and on time.