Our lives are hectic, and technology can help the situation and make it worse at the same time. However, if your company wants to communicate effectively, it needs to rely on text messaging as a way to be more efficient and increase revenues. We look at how in this article.
Increased Response Rate
According to research, text messages are opened at a rate of 98% when compared to emails which are opened at a rate of only 20%. Also, text messaging is the preferred method of communication among millennials. Lastly, most people carry their phones with them wherever they go, which means that if you want to reach someone with an important message, you should consider texting them.
Knowing that, let’s take a look at how your accounts receivable department can benefit from text messaging.
Texts Notifications Are Pervasive
More and more communities, governments, and outreaches are adopting text messaging as the way to get vital information out to people. Nearly everyone checks their phone when they get a notification even if they don’t immediately act on it.
Texts & Accounts Receivable
Now that we’ve seen how widely used text messaging is, and people are more likely to read their messages, let’s look at how your company’s accounts receivable department can benefit.
Sending out paper bills that get left on the counter for days is old fashioned as is waiting for a customer to send in a check. Many customers now prefer to pay their bills via autopay or by visiting a website or using an app to pay with a credit card. Text messaging encourages a quicker response to pay a bill and ensures that invoices don’t get lost in the mail or forgotten about.
Also, sending out a text message as a reminder is seen as less intrusive to people than a phone call, and is more likely to be acted on than sending a letter in the mail.
Increased Response Time
Another considerable advantage to using text messages to notify people about invoices is that you’re more likely to get an immediate response than if you inform them by other means such as email, phone calls or snail mail.
When a person receives a notification of a bill that’s due, and an easy way to pay, generally speaking, they pay right away, which means increased cash flow for your company.
Makes Accounts Receivable More Efficient
In addition to a higher response rate from your customers, your AR department becomes more efficient thanks to text messaging too. The less time your AR department has to spend sending out letters and making phone calls trying to track down money means they can spend more time expanding their reach and becoming more efficient.
If your company isn’t making use of text messaging and push notifications, it’s high time that you research the benefits and experiment and find a system that works for you; you have nothing to lose and everything to gain.
Ron Kinkade is the Director of Marketing at Call-Em-All, an automated calling and mass texting company that provides solutions for small and medium sized businesses, large corporations, membership organizations, community groups, and individuals. Ron has more than 15 years of experience with a proven track record of success. Ron is a graduate of Illinois State University.