How 360 SMS Transformed Client Engagement and Payment Collection for a Finance Client

Customer engagement and payment collection are some of the major burning issues the finance industry encounters. On the one hand, limited customer engagement leads to limited deal closures; on the other hand, collecting payments from customers timely is also a strenuous task.

But when you have the right and effective communication Salesforce text messaging solution by your side, no task is too tough to handle. Not only can you drive maximum customer engagement, but you can also collect payments from clients faster.

And that’s where you can use the magic of 360 SMS for messaging. 

According to the G2 report, texting is still untouched by around 61% of marketers. This is what may be impacting their results.

When it is about presenting results, we believe in showing real-world problems and impacts. 

In this blog, we will talk about how 360 SMS helped a client overcome Salesforce finance communication obstacles and streamline their finance communications. 

Previous Communication Approaches without 360 SMS Messaging App for Salesforce

In the initial phases, the client predominantly relied on conventional communication methods such as phone calls and emails to foster client engagement and manage payment collections. However, as time progressed, these methods revealed inefficiencies and showed diminishing responsiveness.

Challenges with Traditional Strategies

Communication Inefficiency: Relying on phone calls and emails often led to communication delays, resulting in missed opportunities for prompt client engagement.

Payment Collection Hurdles: The client grappled with obstacles in clearing pending payments, highlighting a crucial need for more effective payment collection methods.

Engagement Limitations: Traditional communication channels proved inadequate in delivering the desired level of client engagement, prompting the client to seek innovative solutions like an advanced Salesforce SMS app.

Objectives of the Current Process Transformation

The client embarked on this transformative journey with specific objectives in mind:

1. Elevating Client Engagement Significantly

The overarching goal was to establish profound connections with clients, surpassing the constraints imposed by conventional communication methods.

2. Streamlining Payment Collection for Minimized Pending Payments

A comprehensive overhaul of the payment collection process aimed at introducing seamless procedures and mitigating delays in settling pending payments.

3. Automation of Loan Process Notifications

The implementation of an automated system to notify clients promptly at various stages of the loan process, fostering transparency and delivering timely updates.

4. Continuous Improvement Through Client Feedback Mechanisms

The establishment of systematic feedback channels to gather valuable insights from clients enables a continuous cycle of improvement and service refinement.

Revamping Communication with 360 SMS Messaging App for Salesforce

Streamlining Loan Updates:

The client decided to simplify their communication approach by adopting a 360 SMS Salesforce SMS app. They embraced automated messages to keep clients in the loop at every stage of the loan journey. From acknowledging application receipt to pending documents and ongoing application review, these updates provided clients with a transparent view of the loan application process.

Efficient Bulk Messaging for Instant Connection:

Equipped with a 360 SMS messaging app for Salesforce, the client gained the power of sending bulk messages to their client base. This feature enabled them to swiftly connect with numerous clients simultaneously, efficiently sharing announcements, promotions, or crucial financial information.

Personalized One-On-One Conversations for Swift Issue Resolution:

Beyond automated and bulk messaging, the client leveraged a 360 SMS for personalized one-on-one conversations. This tailored approach effectively addressed individual client concerns, responded promptly to queries, and resolved issues in real-time. That’s the power of texting, and people love it.

According to the Market Scale, texting is preferred by around 89 percent of customers for communication compared to calls.  

Automated Drip Campaigns for Timely Payment Follow-Ups:

To enhance payment collection efficiency, the client introduced automated Drip Campaigns.

Configuring a series of follow-up messages at different intervals, these campaigns ensured timely payment reminders, intervening when the “Payment Status” remained “Unpaid” after 3, 7, 15, and 30 days from the due date.

Simplified Payment Process with Payment URLs:

Recognizing the pivotal role of seamless transactions in client satisfaction, the client proactively incorporated the Salesforce SMS app to revolutionize the payment experience. This forward-thinking move went beyond conventional practices, aiming to simplify the payment process and eliminate navigation hassles. 

How did they achieve this? 

By ingeniously integrating on-brand payment URLs in their follow-up messages, the client not only provided a direct and hassle-free path for customers but also instilled a sense of trust and professionalism. Thus, this strategic use of payment URLs was not just about facilitating quicker payments; it was a customer-centric approach, demonstrating a commitment to enhancing user experience. 

With every click on a secure and branded payment link, customers were not merely making a transaction but experiencing a seamless and efficient payment journey, setting the stage for a harmonious and mutually beneficial client-business relationship.

SMS Drips to Re-engage Non-responsive Prospects

In the dynamic landscape of client engagement, the client strategically employed SMS drips through 360 SMS as a potent tool to breathe life into conversations with non-responsive prospects. This innovative approach wasn’t just about sending messages; it was a thoughtful strategy designed to rekindle interest and reignite interactions. 

Through a series of carefully crafted and timed messages for Salesforce SMS texting, the client aimed to capture attention and create a lasting impression. The client demonstrated persistence, adaptability, and a genuine commitment to fostering meaningful connections by consistently reaching out to non-responsive prospects. 

This strategic use of SMS drips ensured that potential opportunities were not overlooked and paved the way for a renewed and reinvigorated engagement with a diverse audience.

Automated SMS Alerts for Loan Lifecycle Updates

Implementing automated SMS alerts was a game-changer for the client. These alerts went beyond mere notifications, providing clients with real-time updates at every crucial stage in their loan life cycle. 

From the application received to document verification and through the various approval process steps, clients were kept in the loop. This not only enhanced transparency but also created a robust communication bridge, fostering trust and confidence. By leveraging automated SMS alerts, the client ensured that clients felt connected, informed, and supported throughout their entire journey.

Text Surveys for Post-Disbursal Feedback

Post disbursal of loans, the client employed iText surveys through 360 SMS to capture meaningful client feedback. This continuous feedback loop wasn’t just about gathering data; it was a proactive measure to understand client experiences deeply with the help of a Salesforce SMS texting app for no-code SMS Surveys. 

By asking targeted questions about their post-loan interactions, satisfaction levels, and suggestions for improvement, the client demonstrated a commitment to constant enhancement. This invaluable feedback played a pivotal role in refining services and addressing pain points. This ultimately helped elevate the overall customer experience to new heights.

Conclusion

360 SMS, an effective Salesforce SMS texting solution, offers several ways to simplify and accelerate business communications, irrespective of your vertical. From follow-up to re-engagement, 360 SMS has helped a Finance firm get around various communication issues and streamline Finance communication. In the same way, you can even transform communications for your vertical, harnessing the power of advanced messaging capabilities. Want to embark on a transformative journey? Reach out to our experts at care@360smsapp.com or click here to contact us.