“We have captured user attention, but SMS Banking must now move forward.”

“Although two reports published this month by TowerGroup and Accenture were very revealing about the ROI of some entities’ mobile channels, it is only when they observe and consider the channel as a strategic investment and aim to create long-term value for their users that this channel will progress from a one-off initiative to a competitive advantage, generating significant benefits, both stand-out and business advantages for the institution which, as in many industries, is suffering from significant commoditization and convergence of its product and value proposal,” said Oriol Ros, Latinia’s Head of Marketing.

“Sticking with basic services will lose the attention of users now waiting to see what else the channel has to offer. Banks must know that they have a window of customer attention, but they will have to offer more value than the simple notification that an income has been received. They must lead customers to an upper level as part of its  loyalty process, and beyond the fact that these are paid services, a policy that’s now widely accepted by most users, the entity should reward the use of this channel by providing higher added value,” underlined Ros.

“We have captured customer attention, fine, and they even pay for the service, which means they perceive value in it, but we must go beyond this and start rewarding their trust by offering more innovative services. I am talking about cross-selling the same message, customizing their situation by offering a new deposit, warning them of their credit card’s forthcoming expiry, offering to extend their credit if it is near the limit, or even offering an insurance policy if we detect that they have withdrawn money abroad. Let’s surprise them, let’s indicate that we are thinking of them individually, taking care of their financial situation. Optimizing the channel means improving the customer experience, to allow us to go up a rung on our desired loyalty ladder. The customer has paid us attention, so let’s reward them in the form of added value. Let’s understand the channel as the beginning of a conversation, in which we need to provide content that is actually relevant to them and only them, let’s not think that the transfer notice ends with that message. This is the opportunity to say we are thinking of them, let’s not waste it,” ended Ros.

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