Eltropy Shares Eight Ways Credit Unions can Drive Members’ Text Messaging Opt-Ins
Text messages – they’re one of our primary methods of communications. A person hears a buzz, looks down at their phone, and opens the message. It happens multiple times a day. Data shows we open our text messages a whopping 99 percent of the time.
It’s not surprising that credit unions seeking to drive member engagement and grow their business are looking for ways to leverage this highly effective form of communications.
“We were looking for a reliable, secure way to message our members and Eltropy’s platform was the perfect solution,” said Providence Federal Credit Union Chief Operations Officer, Brett Wooden. “Our members love the ease and convenience of new technological solutions, and we’re looking forward to introducing it in late 2019.”
Eltropy’s platform brings the power of text messaging to credit unions in a compliant and secure way for multiple-use cases including marketing, sales, service, lending, and collections.
To harness the power of text messaging, credit unions must first navigate Federal Communications Commission and Telephone Consumer Protection Act compliance. TCPA has defined the rules governing the use of text messaging.
In most cases, “express written consent” is required. It’s not difficult to obtain opt-in consent if credit unions use the variety of methods at their disposal. Before your credit union starts, reassure prospects and members by showing full transparency. Explain what they can expect to receive by opting in and how they can opt out at any time. To maximize sign-ups, employ a combination of the eight methods below that you think would work best at your credit union.
- Text to join using Eltropy: Prospects and members simply text a keyword (e.g., “Join MyCU”) to a short code to opt in for receiving SMS messages. In this workflow, Eltropy tackles the heavy lifting by recording and tracking opt-ins as well as opt-outs. To promote this method, use social media posts, in-branch flyers, electronic flyers, website headers, radio, print, or TV ads.
- Online or mobile banking: Create a pop-up that appears after a member logs on with information about the opt-in program along with name, phone number, and disclaimer acceptance fields. As an alternative to a pop-up, insert a call-to-action button.
- Your credit union’s website: Promote text messaging enrollment in three ways. 1. Add a widget where members and prospects can enter their name and mobile phone number and accept TCPA disclaimers. Recommended locations: Next to “Contact Us,” “About us,” “Learn more,” or on the homepage. 2. Publish a banner announcement on some of your webpages. 3. Deploy a call-to-action button.
- Applications and forms: In both paper and PDF formats, simply insert a section that asks for name and phone number and acceptance of TCPA disclaimers. Examples include new membership and loan applications as well as service request forms.
- Email marketing: Launch a campaign that captures the benefits of opting in and provides a link to a web-based enrollment form. For example, members can receive texts with payment reminders or alerts, announcements of new products, or links to educational financial content.
- In person: At a branch, tabling event or community event, member-facing teams can introduce members and prospects to your text messaging program. Make sure team members are trained so they can extol the benefits of text messaging and answer questions. Use a tablet or a paper form to complete sign-ups.
- Social media sites: Promote your “text to join” campaign or direct subscribers to a webpage where they can opt in.
- Direct mail: Advertise text-to-join in your marketing mailings.
Want to generate your own engagement buzz? Apply these credit union best practices to begin collecting text messaging opt-ins. Grow member engagement as you communicate with members on their preferred channel. Eltropy’s Text Messaging + Analytics platform helps you meet compliance requirements while delivering a superior member experience.