Text Marketing Perfect Fit for Pawn & Cash Advance Industries
It’s no secret that the past 5 years have been tough on consumers’ bank accounts. With the economy down and the unemployment rate up, people are being forced to take lower paying jobs to stay afloat. So what happens when an already strapped person is in a fender bender and get slapped with a $500 repair bill? Often, people rely heavily on pawn and cash advance services to get them through financially tight situations.
Text Marketing Perfect Fit for Pawn
Text message marketing is a fail-safe way for pawn and payday retailers to communicate with such customers who likely do not have regular access to email or a landline phone. In fact, a study by the University of Kansas suggests that up to 92% of low-income families have mobile phones, of which 96% are able to receive text messages. In some cases, studies show that persons with an income of less than $30K send twice as many text messages per day than those making $50K+.
With that kind of evidence, it’s undeniable that text marketing is essential for businesses trying to engage this mobile-heavy demographic. By building a mobile database you can segment your customers and target text messages based on language, location or past purchases & behavior. Text message special offers and deals are a great way to drive traffic when business is slow or during the financially stressful holiday season.
Additionally, text messages can be used to increase your business’ operational efficiency. Ensure timely payment with payment reminders and collection notices. Eliminate lengthy phone conversations with customers through SMS multipoll conversations. Communicate employee schedules and information with the click of a button.
With cellphone ownership becoming as commonplace as owning a pair of shoes and text messages becoming the preferred method of communication among millions of low-income consumers, Text message marketing is a natural extension of pawn and cash advance retailers’ marketing strategies.