FinText 2023 Insights: Day 2

Messaging Strategies from Customers 

and Future Innovations

This FinText 2023 recap highlights Day 2 of the SBT conference. We’ll bring you up to speed on the most significant moments and insights from the conference sessions you might have missed. In these sessions, we’re focusing on the future and what your business needs to know in order to stay ahead and implement successful messaging strategies.

Ah-Ha! Moments from FinText Day 2: 

          • The quality of your message is just as important as the delivery method.
          • Never stop testing. Continuously experiment with different message formats, timing, and content to discover what resonates most with your audience.
          • Your texting strategy should include MMS.
          • Key-word based payments will be a leading innovation in text-pay.
          • The success of your text communications hinges on choosing the right text solution partner.

Session Summaries

Customer Best Practices

Leighann Lindsey, Rafe Dunlap, Steve Kusic, Megan Bryant and Chris Thornton

Industry experts shared their insights into optimizing the customer journey through text messaging utilization. They uncovered critical challenges faced by banking customers, including low text deliverability and regulatory hurdles, which were successfully overcome by embracing short codes and compliance-oriented strategies. For lending customers, the focus was on maintaining compliance throughout the customer journey and member experience, with a strong emphasis on SMS efficiency and the power of ongoing testing.

The discussion also delved into the importance of tailored messaging, with SBT client, Steven Kusic stating, “The more information, the better the communication.” Our lending panelist, Rafe Dunlap, expressed that the key to achieving success with your texting strategy lies in choosing the right partner for your texting solution. The panel focused heavily on the importance of harnessing rich media such as photos and video through MMS to enhance customer engagement. Their recommendations extended to utilizing short URLs for SMS and the adoption of an omni-channel strategy.

The Future of SBT

Nick Babinsky

In FinText’s closing session, Chief Product Officer Nick Babinsky highlighted Solutions by Text’s growth and achievements, including a 104% increase in messaging and our 7th consecutive Inc. 5000 win. SBT’s future includes further expansion into Multimedia Messaging Service (MMS), introducing keyword-based payments, and providing improved metrics through client-facing dashboards. SBT will pioneer third-party integrations, offer text payment analytics by use case, explore alternate payment methods like Venmo and Zelle, and leverage inbound SMS to promote text payments through various documents. These initiatives reflect SBT’s commitment to enhancing our text-based communication and payment solutions.

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