SMS Software

How to Regain Missed Business Opportunities with SMS Campaigns

A little less than 50% of qualified business inquiries never translate into actual sales. This shocking finding about missed opportunities came to light almost a decade ago. Now imagine the situation in current times when consumers are flooded with marketing campaigns and spoilt for choices. Such a scenario makes it imperative for businesses to develop lost business recovery strategies to maximize sales and remain sustainable.

While there are several ways to win back missed opportunities, we’re looking at some text message marketing sales strategies to increase conversion rates.

The Problem Statement: How Businesses Miss Opportunities

Before diving into how to leverage mobile marketing to win back missed opportunities, let’s look at what causes them in the first place. Here are some culprits behind missed opportunities:

Slow Response Times

Consumers expect businesses to respond to them in one hour or less – and that’s just for emails. For some channels, this expectation could be as low as 10 minutes! With such pressing demands, prospects are bound to be put off by slow service.

Narrow Engagement

72% of consumers prefer a brand they can engage with across multiple channels. Such a trend indicates that omnipresent businesses are more capable of capitalizing on business opportunities than those engaging over limited channels.

Improper Nurturing

On average, nurtured leads generate a 20% increase in sales opportunities. In other words, neglecting lead nurturing will result in missed sales opportunities eight out of ten times.

Overlooking Mobile Users

About 91% of the global population are mobile phone users. As such, businesses failing to account for such a significant user base – whether it is to attract leads or make sales – are effectively leaving money on the table!

Poor Timing or Cadence

In sales and marketing, timing is everything. For every inquiry or follow-up that businesses miss, there is a competitor benefiting from it.

Limited Personalization

About eight out of ten consumers have selected, recommended, or paid more for a brand that offers service personalization or tailored experiences. In other words, lack of personalization equals missed opportunities.

The Solution: Real-Time Text Message Marketing Sales Strategies

Missed opportunities are lost revenue. With this in mind, let’s take a look at how SMS campaigns help win sales opportunities:

Qualified Leads

For starters, SMS marketing is consent-based, with 91% of consumers signing up to receive text messages from brands. The fact that customers are agreeing to text-based communication indicates their willingness to transact with you. This minimizes the possibility of mobile marketing missed opportunities, as the receiver legitimately wants to hear from you.

Instant Communication

Text messages are almost instantly delivered to customers. Such quick and direct deliverability allows businesses to contact leads to pique their interests, delight and engage them, and ensure that no opportunity slips through the cracks.

Mobile-First Marketing

SMSes enjoy read rate and response rate of an impressive 98% and 45%, respectively – making it the go-to medium for mobile marketing. As such, SMS campaigns birth sales opportunities rather than causing you to miss out on them!

Timely Messaging

Six out of ten consumers read an SMS within 1 to 5 minutes of receiving them. Such quick responsiveness ensures that you can reach out to deliver instant value and pull them back into the sales cycle. Trigger-based win-back campaigns are well-known lost business recovery strategies, and text messaging is an apt channel for it.

Personalization

Hyper-personalization is one of the top reasons why 56.7% of consumers appreciate SMS as a part of the marketing experience. Text message marketing sales strategies allow for message personalization.

Interactivity

Text messages can include interactive elements like links to abandoned carts, feedback forms, surveys, coupons, etc. Such value-loaded nuggets allow for SMS marketing conversion optimization by reducing the receiver’s cognitive load and simplifying re-engagement.

Tips and Tricks: Lost Business Recovery Strategies Using Real-Time SMS Marketing

Rounding up, here are a few text message marketing sales strategies to improve conversion rates and net any missed opportunities:

  • Build a high-quality subscriber list and segment the customers based on their preferences, behaviors, demographics, etc.
  • Craft compelling, concise, and engaging SMS messages that are quick to grab attention. Don’t forget to add a dash of personalization.
  • Consider factors like time zones and the receiver’s availability while sending text messages.
  • Invest in a unified communication platform, like JustCall, to manage the entire SMS campaign to maximize sales opportunities. Brownie points to tools offering SMS automation and bulk messaging.

JustCall: Your Best Bet at SMS Marketing Conversion Optimization

SMS is a great tool to reduce missed opportunities and capitalize on real-time marketing strategies. However, you need the right tool for campaign management.

Fortunately, JustCall has everything you need to implement lost business recovery strategies across multiple channels. Speaking specifically about SMS campaigns to generate sales opportunities, JustCall allows businesses to seize every opportunity.

You can use it to send real-time SMSes, automate campaigns, and engage with leads on their own terms. Plus, you can track, monitor, and improve your campaigns to get to a whole new level of success!

With a foundational role at Saas Labs, Anand has been a key player in establishing the Product Management function and spearheading the launch of our Conversation Intelligence solution. His expertise in AI innovation guides both the strategic direction of the products and a team committed to excellence.

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