SMS services can help your banking institution flourish by improving the relationship you have with your customers and helping you market new services easily and efficiently. Here are two ways SMS can do that.

"Old fashion direct mail is not a viable, reliable means to communicate these offerings."

1. Marketing services
Looking to promote a new checking or savings account or a low interest rate? And do you want the promotion to reside within a certain time frame? Whatever you do, don't rely on letters and postcards! Old-fashioned direct mail is not a viable, reliable means to communicate these offerings. Most people toss direct mail away without even considering it, let alone reading and acting upon it. The same can be said about email.

Instead, use SMS, which allows companies to more quickly relay offers to customers. SMS is opened 98 percent of the time, according to a Dynmark report.

3. ROI
Are you still not convinced direct mail is a bad marketing practice? A letter here and there won't damage an institution's wallet, but sending hundreds if not thousands of letters will cost them a pretty penny (or more). Banks can avoid this expensive disaster by using mobile text messaging. SMS technology is inexpensive to use and is much more likely to be read by customers, unlike snail mail or even email. So not only do companies save money on paper and stamps, they'll also likely see an overall improved bottom line.

If you'd like to use SMS at your banking institution but aren't sure how, first contact a third party who can analyze your business needs and develop an app for you. This professional will develop an app that fits your bank's specific needs.