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3 Reasons Why Your SMS Provider Sucks

If you’re already using SMS in the financial services industry, you probably already know that it can bring many benefits to your business, such as better customer communication and engagement, enhanced customer service and increased sales. Of course, you’ll only be able to fully reap those benefits when your SMS provider is delivering a great service for you. Sadly, good service doesn’t always happen.

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There are three common problems that we know many FinTech companies are facing with SMS providers. Here they are below – can you relate to any of them?

1. Undelivered SMS messages

Whether you’re sending an SMS marketing campaign, transactional message or customer service communication, there’s nothing worse than seeing that some of your text messages have gone undelivered.

Failed text messages are the biggest pain point for financial service companies as it represents a cost. Here are some cases and possible consequences of what might happen when an SMS is undelivered:

  • PIN code failure – in this scenario, the end-user can’t log into your platform and use your services. They may not be able to complete a loan application, for instance. If a loan application status text isn’t delivered, the customer won’t know whether they’ve been approved or rejected for borrowing. And the consequence of this lack of information can vary from taking up an agent’s time unnecessarily, to losing the customer to a competitor.

  • Undelivered payment or debt collection reminders – this means you might not receive payment from customers.

  • Unserved marketing campaigns – this presents a lost opportunity for extra sales.

2. High service costs

In addition to high costs per SMS message, some platforms also charge extra fees, like a monthly subscription cost or support fees. And it can be difficult to compare prices because many providers hide pricing details behind a landing page that directs you to make an enquiry - because ‘each client’s requirements are different.’ After which, you’ll speak to a sales agent who convinces you that you’re getting a great deal.

Here at Messente, we try to make our pricing as transparent as possible. We have a simple and clear business model: we only charge for the text messages you send (no hidden or recurring fees).

Photo of a woman using calculator behind a work desk

3. Poor business support quality

It’s inevitable that from time to time, something will go wrong. And when that happens, the issue must be resolved quickly – because the longer the problem drags on, the more costly it is for you.

Not all SMS providers put enough focus and commitment into customer support so that every client is properly looked after. A common approach is where SMS providers offer a tiered support plan with different price points. In this case, the more you pay, the better quality of support you’ll get. This works fine if you’re able to pay top dollar, as you’ll get a premium level of support. But if your budget is tight (as it often is if you have a startup business), you’ll get the lowest support level.

Let's continue the discussion at Money 20/20. Book a meeting with us today!

We actually offer free support with all our services here at Messente. You might be concerned that ‘free support’ equates to a long waiting period in getting problems solved. Worry not – you won’t experience delays with us.

Customer support is what we’re the best at, according to our clients. Our account managers are always just a phone call away and can jump on any issue right away. Our response times vary from minutes to a few hours, depending on their priority. Generally speaking, most problems are solved within hours (not days).

Messente tackles these problems

SMS is ideal for many different types of communications in the financial services industry, such as marketing campaigns, customer service, debt collection and transactional messages (like PIN codes).

However, when you experience problems caused by an SMS provider, like failed SMS messages, high service costs and poor support, it’s difficult to see the value that SMS can bring to your business.

We believe Messente is very different from other SMS providers for two main reasons. Firstly, our fees are fair – and always clear. We never charge hidden costs and our SMS message pricing is very competitive whether you need to send texts locally or globally. We also offer custom pricing for enterprises and any business with bespoke or complex SMS messaging requirements.

Secondly, our personal approach and the way we offer customer service sets us apart from the crowd. Whether you have an account query, a technical problem or need advice on the best messaging strategy for your FinTech business, you’ll receive top-quality support as and when you need it. Every one of our clients is valuable to us, hence we provide the same premium level of service for every client, free of charge.

Let’s talk!

We’re exhibiting at Money 20/20 Europe, 21-23 September 2021. If you’re attending, let's continue this discussion there. Book a meeting with us or come by our booth at the Estonian Pavilion, stand no D120.

Margus Sütt
2021-09-01 00:00:00 UTC