As a mortgage lender, you know how important it is to stay connected to past, present, and potential clients. Like most mortgage pros, you probably lean heavily into email to communicate with your audience. Email can be a good tool. But it can also deliver lackluster results.
Lots of emails get lost in the spam folder. Millions of others are simply ignored. The average open rate for email is just 21.33%. On the other hand, text messages can deliver an open rate as high as 95%. Researchers found that 82% of recipients say they read every single text they get.
Are the wheels turning yet? They should be. If you’re thinking something like, “Texting all my clients sounds great, but I don’t have time for that,” then don’t worry. You can automate your SMS messages with mass texting software. Here’s everything you need to know.
What’s Mass Texting Software?
Mass texting software is exactly what it sounds like. You can use it to send out SMS messages to a huge group of recipients. Here’s a basic rundown of how it works.
- Implement mass texting software
- Create a custom audience
- Compose your message and schedule the text
- Launch the campaign
- The software will deliver your message at the preset date and time
- It will start a separate conversation thread with each recipient
That’s it! Using mass texting software really is that easy.
The best solutions even take care of the compliance side of sending marketing text messages. These platforms allow consumers to opt out and will automatically remove them from your group if they decide they no longer want to receive messages from you.
You can set up multiple campaigns and target specific groups with personalized messages. Mass texting software can even include each recipient’s name by pulling data from your customer relationship management (CRM) platform.
9 Reasons You Need Mass Texting Software
Now that you know what mass texting software is, you can learn about its many benefits. With mass texting technology, you can:
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Communicate Instantly
Text messages are more personal than emails. They are a great way of showing your clients that you care about their mortgage needs. But you just don’t have time to manually message everyone.
Mass texting software eliminates that barrier and lets you communicate with a huge audience instantly. The platform will automatically send out pre-created messages at the date and time you specify. You can plan messages out at optimal intervals to build rapport with clients and set the stage for future business dealings.
Unlike emails that may sit unopened for days (or forever), most text messages are typically read within minutes. People read about 95% of their text messages within three minutes of receiving them.
Few forms of communication compare to the speed and reach of text messages. Some applications even allow users to reply, and they can initiate follow-up actions based on their responses. You can use these capabilities to fill your funnel with high-quality leads.
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Interact With Clients in a Personal Way
A text message just feels more personal than an email. You are sending a message to clients in a format that they are familiar with and use daily. This makes the entire exchange more natural and seamless.
You can personalize your texts to make each client feel appreciated. Top solutions use client data from your CRM to tailor messages to include specific names or product details. You could even target audiences with messages about personalized offers.
This level of customization helps build stronger relationships with your clients. It can also open the door for repeat business.
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Improve Response Rates
Text messages have one of the highest response rates of any communication method. At most, clients may open and read about one out of five emails. As mentioned earlier, texts have an open rate of 95%. If you are targeting one of the 82% of people who read every message, mass texting guarantees that the recipient will see your content.
Replying to text messages can be easier, too. Users can quickly respond to your message, submit documents, book a meeting, and more. That’s the beauty of the quick and convenient nature of texting.
Think about your own life for a moment. How quickly do you respond to texts? What about emails? Chances are that you respond to people who text you pretty quickly, but answering emails might take you a while.
Mass texting software doesn’t just improve response rates. It also moves your client conversations to a more convenient format. Use this to your advantage and speed up your response times to deliver a better experience.
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Save Time
Your day is already jam-packed with tasks and responsibilities. You don’t have the time to manually compose and send dozens of text messages every day.
Mass texting software allows you to streamline your communication process. You can spend a few hours setting up your mass text campaigns at the start of each month and eliminate the daily hassle of manually messaging clients.
With a little effort and planning, you can communicate with hundreds of people via mass texting. Your app can nurture leads and keep you connected with past clients.
The efficiency of the software frees up precious time so you can focus on other important tasks. You can spend more time closing deals and growing your business.
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Stay on Your Clients’ Minds
People don’t take out mortgage loans or refinance their homes every day. Several years may pass before a client needs your skills again. It’s your job to keep clients aware of your services in the meantime.
Mass texting software helps clients keep you in mind. You can periodically send out mortgage rate updates and other important texts to remind recipients about your services.
You want to stay connected with past clients so they will turn to you when they need to refi or buy another home. You’ve already built a great relationship by providing a seamless lending experience. Turn that hard work into multiple deals.
Happy clients are more likely to return to you for future mortgage needs, but only if they remember you. Mass texting can help you stay connected.
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Cut Back on Marketing Expenses
Mailers and other physical marketing assets are great tools. They are also expensive. You can reduce your reliance on these costly assets via mass texting. A great software solution will reduce many of your marketing expenses to a small monthly subscription fee. You can use the money you save to invest in other areas of your business.
That’s not the only way mass texting software saves you money. You’ll also benefit from efficiency gains. You can spend your time engaging in more valuable activities that maximize revenue.
For example, you can nurture leads with automated messages and spend your days working through client files. You’ll even have more time to meet with high-end or serious clients in person and forge powerful relationships.
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Avoid Compliance Headaches
There’s a lot of red tape to cut through in the world of mortgage marketing. A single violation can damage your reputation and lead to some serious fines. You can’t afford to get things wrong when you are marketing services to customers.
Mass texting software that’s designed for mortgage lenders has built-in compliance tools. These tools help ensure that you respect clients’ privacy and adhere to all relevant industry regulations. You can send out mass marketing communications without stressing about compliance. Sounds like a win-win!
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Nurture Leads
Once prospects enter the pipeline, you’ve got to nurture them. Text messaging software is great for building rapport with your audience. You can nurture new client leads by sending them texts about mortgage rates and products. These simple communications can encourage potential home buyers to learn more about what you can do for them.
Top texting software also includes segmentation tools. You can create custom audiences and send personalized messages to each group. This means you’ll have a chance to nurture repeat clients, too. You can encourage recent clients to refi when rates drop or periodically connect with individuals who may need to buy another home.
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Integrate With Other Tools
The best mass texting software readily integrates with your CRM. These integrations ensure you can use all of the information in your customer database to connect with clients and build your business.
Don’t settle for just any mass texting platform. Look for an all-in-one CRM solution like BNTouch. You can get more done, reach your ideal audience, and grow your business with our dynamic platform.
Unlock the Power of Mass Texting Software With BNTouch
BNTouch is the complete CRM for mortgage professionals. Our dynamic solution is packed with handy tools to help you grow your business. It even includes mass texting software to streamline communication with your customer base.
Ready to take your business to the next level? Request a demo of BNTouch and unlock the power of mass texting software. Once you try BNTouch, you’ll never want to run your business without it.
Contact us to book a free demo today!
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