Text Marketing

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Text Marketing

CorePlus Federal Credit Union is one of the financial companies that uses SMS/text to market to their customer base. The company chose to integrate Elle text messaging platform to get more response or have better member engagement.

1. CorePlus Federal Credit Union

  • CorePlus Federal Credit Union is a $228 million Norwich-based financial company that uses SMS/text to market to their customer base.
  • The company chose to integrate Elle's text messaging platform for new memberships and loan applications in order to get more response or have better member engagement.
  • The digital tool that they added in 2018 is an end-to-end text communication that was integrated into their new membership applications and digital loan applications.
  • CorePlus Federal Credit Union wanted a messaging system that can educate the users and shape the quality of their digital journey, particularly in loan application.
  • They were able to receive text messages from customers regarding the loans and 75% of their incoming text messages were loan-related questions and inquiries. There was also a rise in new membership communications, which made the loan turnaround time faster.

2. Community First Federal Credit Union

  • Community First Federal Credit Union is a $28 million, Miles City, Montana-based financial company that uses SMS/text to market to their customer base. They use the SMS/text messaging of Quiq.
  • Community First Federal Credit Union chose to integrate Quiq text messaging because they wanted to provide members with information about their loans and to increase response rates.
  • This resulted to in a service's adoption rate of 94% while the response rate increased by as much as 130%.
  • Community First Credit Union of Florida markets their loan services by sending a text alert regarding loan services. They also offer assistance through text messages to help the customers complete the requirements through text messages.
  • They also used for their loan collection, which increased their contact ratio from 60% to 80%.
Sources
Sources