SMS Messaging for Uncertain Economic Times

If there’s one thing most of us can agree on, it’s that our economic future is uncertain. The world economy reacted to the Brexit vote with unstable and falling stock markets. And no one knows exactly what the Leave vote means for the UK. But there are other uncertainties too.
According to Lord Davies (former trade minister) in an article in Financial Times, “You have got so many issues out there — the US election, immigration, terrorism, the China slowdown”. He continues, “When you add it all together it was already a very uncertain period, and the EU referendum is making it a little bit of a perfect storm”.
Another article, this one on Fast Company, listed various strategies companies could use to remain stable in a business world that is becoming more unpredictable. The article is several years old, and written for a more general purpose, but it applies to the current circumstances too. And as it turns out, SMS messaging fits right in with those strategies.
Predictable Elements
The first strategy is “Find and rely on the predictable elements of the situation”. The mobile market is one area that is predictable – at least in the sense that people will still have their mobile phones. They aren’t all of a sudden going to go throw them in the bin. They will still carry them around wherever they go. Some of us even sleep with them.
Granted, people may not upgrade to the next model as fast as usual, or they may opt for a less expensive phone. But the devices are entrenched into our lives to the point where we don’t want to give them up. Surveys have shown that their smartphone is more important to people than sex, their car, or even wearing shoes!
So if you need to connect with your customers, SMS messaging is about as predictable as it gets.
Agility
The second strategy is “Remain agile, and strive to respond quickly”. While the article aimed this strategy at social media, it’s a perfect match for SMS messaging too.
You can learn a lot in a short time from an SMS marketing campaign. You’ll be able to tell right away whether you’ve made your customers happy or pushed them all to unsubscribe. If you have lots of unsubscribes after a particular campaign, respond quickly to that and figure out what went wrong.
If you’re using SMS messaging within your organisation, you can get fast feedback from sales reps, maintenance, or support staff. An issue in any of these areas could have an impact, or at least implications, on the rest of the company. Getting and responding to internal messages quickly could also help you remain stable if your customer base is shifting.
Investments
“Companies react to uncertainty by delaying or reducing their investment”, Markus Kerber (the director-general of a German business lobby) commented in the Financial Times article.
It’s natural that companies want to hold off on investments when they aren’t sure what’s coming down the line. For example, a UK company that was looking to do a massive product launch across the UK and Europe may hold off. There are so many unresolved issues that could affect that sort of venture.
But, for a smaller investment, they could look at doing a launch across the UK using SMS messaging. The cost for an SMS marketing campaign is reasonably low, and the return on investment is often in the hundreds of percent.
This sort of investment is ideal for these times because:
- people still have their mobile phones
- if they’re on your list they want to buy your products
- you can run the whole campaign quickly
You can make the most of the situation by maximising your current customers, or running an opt in campaign for new customers in the UK.
Of course, every business will need to examine their priorities, investments, and plans going forward. If you still want to reach customers, or employees, in a cost-effective and timely manner then you’ll want to take a look at what SMS messaging can do for you.
We’re happy to answer any questions you have on how SMS messaging could work in your situation. Just click to chat, email or give us a call to speak with our SMS experts.
Related Articles
What Every Business Ought to Know About A2P SMS
Can your business benefit from A2P SMS? According to recent research the answer is yes. See the industries that are using it and how the convenient and easy to use fastsms API can get you started, even if you don’t want to code.
SMS messaging helps both job seekers and recruiters
How does SMS messaging helps recruitment agencies? Just as importantly how does it help job seekers? This post explains several benefits for both recruiters and candidates. Perhaps the key issues are the speed of communication with SMS and also the innate privacy of SMS messaging.
A Brief History of the SMS Text Message
Despite the surge in popularity of smartphones over recent years and the rapid growth of alternative messaging apps, SMS messaging remains one of the most commonly used and popular methods of communication today. Read this article to learn more about the history of SMS messaging and discover why it is still a highly profitable channel that should be seriously considered in your marketing strategy.
9 Reasons SMS Marketing is Far From Finished
With all the evidence indicating that text messaging still has plenty of life left in it, here are 9 reasons why SMS Marketing still has lots to offer. Don't miss out on what SMS marketing can bring to your business.
SMS Marketing for Artisan Food Producers
6 SMS Marketing Ideas for Your Restaurant
Growing a Business Around Your Family Life? Here’s Why Mumpreneurs Need SMS Marketing
Mums are natural entrepreneurs. And now they're turning that entrepreneurial spirit towards running a business, using their organisational skills to turn a profit from franchises and hobbies, fundraisers and baking. Mumpreneurs are on the march and they need smart marketing strategies like SMS that fit around their busy lives.
8 Key Reasons SMS Marketing is So Effective
You might not have run an SMS marketing campaign yourself, but you are likely to have received some form of SMS communication from a business. Whether that's a commercial brand running a competition or a healthcare provider, such as your GP or dental practice, sending you an appointment reminder. If you have run an SMS marketing campaign before, you're likely to already be aware of the effectiveness of the platform for communicating with customers, but might need help justifying your use of SMS messaging to other people or departments in your business. Here, we've listed out the key reasons SMS marketing is so effective.