Coretalk Whitepaper 2

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This whitepaper will seek to educate readers on how SMS overcomes typical business communication challenges and barriers, and help reach business goals, along with examples of how businesses are using SMS within their respective industry.

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Coretalk Whitepaper 2

  1. 1. IntroductionI n part 1 of the three part Coretalk Whitepaper we mentioned what is Enterprise SMS, the general benefits of SMS and gave some statistics on SMS and its predominance in the Mobile industry.This whitepaper will seek to educate readers on how SMS overcomestypical business communication challenges and barriers, and help reachbusiness goals, along with examples of how businesses are using SMSwithin their respective industry.
  2. 2. ChallengesBusinesses Face Today communicaTionC ommunication is key in any business environment, particularly where customers are concerned. In order to build valuable long lasting relationships with your customers, and ensure that theykeep buying from you then there has to be constant communication.But here’s the problem…How do you communicate, especially with a sizeable customer-base, in away that is:Easy and ConvEniEntCost-EffECtivEimmEdiatEtargEtEdPErsonalizEdintEraCtivE & Engaging (two-way)
  3. 3. ChallengesBusinesses Face Today markeTingI n today’s competitive business environment, where almost everyone has an entrepreneurial spirit and it is easier than before to start a business, it is important to market and market effectively. This will enable your productsand services to get out there and potential customers can become more awareof what it is you have to offer that is better than your competitors.But here’s the problem…How do you market your products and services in a way that:- EffECtivEly drivEs nEw BusinEss (lEad gEnEration)- Builds a dataBasE of PotEntial CustomErs to markEtyour ProduCts and sErviCEs to ExClusivEly- traCks thE roi of your markEting Efforts to EnsurEthEy arE worth it- idEntifiEs whErE markEting Efforts arEmost EffECtivE and CaPitalizing on it
  4. 4. ChallengesBusinesses Face Today salesM arketing is the aspect of the business that will make customers aware of your product or service and be interested in knowing more. However, Sales will lead them to want that product or service and then spend mon- ey to obtain that product or service.With Sales becoming far more complex than it was 50 years ago, it has become morequalitative (feeling) than it is quantitative (numbers). Customers no longer buy fromwho has the best product, but buy from who they have a better business-to-prospectrelationship with i.e. communication.But here’s the problem…How do you execute your Sales process in a way that:- EffECtivEly managE salEs lEads as thEy ComE in- EnsurEs your salEs tEam is kEEPing thE CommuniCationgoing until CustomErs Buy- EnsurEs you arE thE go-to BusinEss whEnCustomErs dECidE to Buy- Builds CrEdiBility and trust with your PotEntialCustomErs to favour you ovEr thE ComPEtition
  5. 5. ChallengesBusinesses Face Today cusTomer serviceN ow that you have gotten your customers and they are spending money with you, it’s time to keep them happy, satisfied, and continue buying from you and not your competitors.With customer service and relationship building it is not the big things that will meana lot to your customers, sure they will love the big things, but they will appreciate thelittle ones even more, like contacting them just to wish them Happy Birthday on theirspecial dayBut here’s the problem…How do you build and maintain meaningful customer relationship:- that is PErsonal and allows your CustomErs tofEEl ConnECtEd to you- if your CustomEr BasE is sizEaBlE and EaChCustomEr nEEds individual attEntion- dECrEasEs CustomEr turnovEr and inCrEasEsCustomEr rEtEntion
  6. 6. How Enterprise SMS Helps overcome THese cHallengesT ry not to see SMS simply as text messaging from one mobile phone to the next, or see it as sending out mass messages to all your customers at once, try to see beyond that. SMS is vastly used in many aspects of business today as it has beenfound to be a reliable and effective communication medium.If communication is not two-way, i.e. if your customers cannot respond to messagessent by you then it is not communication, it is SPAMMING. This is why it is important tohave a two-way communication tool, such as Coretalk, for optimal SMS communicationand not just using Bulk SMS services which are mostly one-way.
  7. 7. How Enterprise SMS Helps overcome communicaTion cHallengesSMS allows for easy and convenient communication by enabling businesses tocommunicate on a mass level with the simple push of a button. What maytypically take hours to do using other mediums of communication can takeliterally seconds using SMS.SMS provides the most cost-effective communication by providing an avenue tohave interactive conversations affordably. The cost using Direct Mail, telephone,and newsletters is so high it is only reserved for VIP customersSMS provides immediate communication because messages are sent quicklythrough telecommunication networks without delay. This is particularly usefulif businesses need to get information out fast, or have customers text ininformation urgentlySMS provides targeted messaging which is important for relevance to customers.It does this by providing convenient ways for customers to opt-in or text in,which segments customers based on demography, location, or interest.SMS provides personalized messaging; why is this important? It creates a morefavourable response for your business by better connecting with customers.Think of it as Mail Merge within Microsoft Word, except it is personalizedtext messageFinally SMS provides interactive communication. Customers today like to haveconversations with companies they buy from, instead of being told to buy.SMS provides a high level of connection with customers. As the sales sayinggoes “people buy from people.”
  8. 8. How Enterprise SMS Helps overcome markeTing cHallengesSMS provides the most effective way of driving new businessby using keywords within Ads (promo codes). With keywordscustomers can easily and conveniently show their interest ina product or service through texting which is more effectivethan sending general mass messages.SMS Marketing is a great way for building a database of contacts.One way of doing this is hosting competitions and sweepstakesusing keywords; customers text in to win, and their text isrecorded in a database as an entry with their contact details.SMS Marketing also provides the means to track the ROI ofmarketing efforts. If a new promotion or product is launched,keyword placed in Ads to promote, and customers text in,businesses can use how many customers text in to trackpotential customer amounts and how many of those potentialsbecame paying customersIn previous years it was difficult for businesses to know if customerswere becoming aware about their business from TV, radio,newsprints or billboards. SMS has easily solved this difficulty.Using keywords such as ‘TVProductX’, ‘RadioProductX’ etc.businesses can know exactly which mediums customers arepaying attention to, and allocating marketing spend there
  9. 9. How Enterprise SMS Helps overcome sales cHallengesSome SMS software such as Coretalk has systems in place that will allow businesses tostore not only contact information but other needed details such as type of lead, levelof interest etc. to effectively segment, manage and follow through with potentialcustomersSMS allows not only business-to-customer communication but also manager-to-staff. Thisensures that a Sales Manager can send text message alerts and reminders to sales repswhen they need to reconnect with a prospect and keep the communication goingSMS is great for Lead Nurturing programs, which are used to ‘look after’ your potentialcustomer until they are ready to buy. This is because while your prospects weigh theoption of buying from you or your competition, SMS can be used to send tips andadvice that could help with their buying decision or direct to content on your website,positioning your business as the expertThis goes back to the previous point of sending advice and tips using SMS. Instead ofcoming off as selling, use text messaging to help your prospect answer questions thathelps them with a need or challenge, thereby building greater trust and credibility thanyour competitors
  10. 10. How Enterprise SMS Helps overcome cusTomer service cHallengesSMS provides a connection to businesses. Though a telephone call is morepersonalized than a text message, it is difficult and costly to keep in contactwith all your customers; SMS gives your customers a great feeling of connectionthrough personalized messaging without the cost of a pricey telephone billWith keywords and automated text responses, customers can text in and acustomized response generated back to their mobile phones. This greatly benefitsbusinesses as customers now feel prioritized and therefore will more likelyrepeat businessA mobile number is a precious asset to a customer much like a car or house. If acustomer willingly gives their number it is because they want to hear from you.SMS provides unique opportunities to decrease customer retention throughfrequent communication. One such way Coretalk does this is through ourAutomated Birthday featureNot only does SMS help to overcome these business challenges, but SMS also helpsto drastically reduce costs directly through reducing the cost of communicationand indirectly by getting more done is less time with ease and conveniencewhich increases bottom line (profits). As the saying goes Time is Money, themore time is spent handling issues such as customer queries the more time ittakes from you that you could be using more wisely, like making money.
  11. 11. Enterprise SMS WiTHin BusinessesF inally, to give a better understanding of how SMS is being used within different industries to their benefit we have compiled a list of different businesses and their use of SMS to improve their businesses.Banking & finanCE industry automotivE industry- Customers can check account - Send out notifications of new partsinformation - Customers can request part availability- Send out new interest rates - Notify suppliers of low stock- Prevention of credit anddebit card fraud rEal EstatE agEnCiEsinsuranCE industry - Give details on a house for rent or sale - Request additional info to complete sale- Renewal reminder dates of policies - Set walk-through demo reminders- Send claim reminders- Immediately report a car accident rEtailErsmEdiCal industry - Notify customers of specials and discounts on products- Remind patients of appointments - Send coupons to VIP customers- Confirm patient appointments - Send restock notifications to suppliersahead of time- Send tips on healthy living
  12. 12. Enterprise SMS WiTHin BusinessessChools sPas & salons- Keep in constant communication - Notify VIP customers of special Spawith parents treatments and offers- Notify parents of important school events - Appointment reminders to customerssuch as PTA meetings - Confirmation of appointments- Inform parents of child’s progress in school CouriErsCrEdit unions - Notify customers of package arrivals - Notify customers of delivery date- Send overdue payment reminders and time- Register new memberships - Inform customers of the cost of- Request additional info for loans sending a particular packagehotEls rEstaurants- Confirm bookings with convenience -Allow customer to book dining- Inform guests of hotel functions and appointments activities -Send out special coupons to customers- Gain guest feedback on the service -Customers can place takeout ordersprovidedThese are just some of the ways industries and businesses use SMS to improve theirbusiness. Whatever the communication need, SMS can definitely satisfy.In the final part of the Coretalk Whitepaper we take a look on Coretalk and how itcan be used to not only benefit your business, but improve it.
  13. 13. Coretalk is the world’s leading and most advanced self-managed Customer Relationship Management SMS (CRM-SMS) solution for businesses, providing effective,efficient and affordably communication, making business lives easier and budgets smaller. visit us: www.coretalkgroup.com Prepared by: Winston A. Henderson, Marketing & Sales Executive, Coretalk Caribbean Designed by: Warren Buckle ©2011 Coretalk Caribbean Limited

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