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4 simple ways SMS can benefit the accounting industry

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Advanced SMS guides 6 min read | Sinch Messagemedia wrote in blog on March 24, 2021

In modern business operations, digital transformation is necessary for the accounting industry to remain competitive and provide a higher accommodation level to customers.  

The automation of routine services is also expected to arrive as technology becomes more efficient and advanced. If you want to learn the positive impact SMS technology has had on the accounting industry, there are a few main facts to know. 

There are various ways professionals in the accounting industry can utilise SMS technology to improve their business operations. Technology continues to become more versatile, which means you can use it in multiple ways throughout the day. SMS boosts your productivity and provides better service to your clients.

Two-way SMS can improve customer service

Many accountants choose to use SMS for customer service to reach out or to send reminders about upcoming appointments. We have seen this reduce the number of people who cancel at the last minute or forget about their appointments altogether. 

You can also provide helpful tips and information when some clients are procrastinating with filing their taxes. Two-way messaging will allow you to send a subtle reminder about rescheduling an appointment while also providing helpful information.  

Also, you can use SMS to send alerts regarding legislation or key financial policy developments. Try including a link that directs the customer to a blog or page on your website with more extensive information. Increase the amount of traffic or prospective leads your website receives. 

Businesses can set up SMS reminders to also keep clients on top of payment due dates. You can automate the service to make it easier to schedule without manually doing the work. 

Set up two-way messaging with your customers to make it easier to communicate with each other. If you’re easier to reach, your customers will be more likely to be loyal to your business and utilise your services more frequently. 

Communication can build your credibility

Most accounting businesses will want to increase their customer base and develop solid professional relationships. In that case, you need to work hard to build your credibility. SMS technology will allow you to periodically send brief updates with the use of thought leadership content. Stand out amongst the competition and even incentivise SMS marketing sign-ups. 

Try incorporating your content strategy into your text messages. Start by talking to your customers about their new financial goals for the year, giving you direction for the campaign you wish to create. 

It can also allow your customers to view you as more personable. Most customers are looking to make personal connections, especially when receiving assistance with managing their money. 

Automated messages will also prevent some clients from missing out on important information. Teams can collaborate on critical messages without having to switch platforms each time. It can also enable customers to access more accurate information at any time of the day. 

SMS technology allows firms to update clients when taxes get filed quickly, send alerts when tax refunds are ready, as well as event invites to educational content and webinars. 

Text messages are cost-effective

One of the main benefits of SMS is its low cost. It works with most budgets, especially if you’re starting and are new in the industry. 

Not only is SMS marketing ideal for all types of budgets, but it’s also easy to set up. The platforms even scale with you if you have a new business. 

Although the cost of utilising SMS technology varies depending on the company, most providers will offer monthly plans or pay-as-you-use models. Given that one standard text costs a few cents, our subscription starts at less than $50 a month

As you expand your business, you can take advantage of different packages, including our Enterprise plan. Paying a monthly fee can make it easier to budget the cost and know how much you’ll pay in advance. 

 As you look for the right company to use, look for a business that offers a Multimedia Messaging Service (MMS) or Mobile Landing Pages (MLP) to ensure you can add more than just the content. These options will allow you to have greater flexibility if you want to send rich content such as GIFs, videos or pictures. 

SMS has high open-rates

 SMS messaging has a high open-rate, making it more effective than using email. Studies show SMS has a 98% open rate, and 90% of text messages get opened within 90 seconds. It’s effective because 91% of adults always have their smartphone with them and are more interactive on it than a computer. Our research has revealed that 76% of customers prefer SMS communications from a business over other channels. 

Avoid limiting yourself to only using email to expand your business. When you start to integrate SMS into your practice or firm, it will allow you to have more control over how and when you communicate with your clients. 

Final thoughts, further reading

Learning the benefits that SMS technology offers can allow you to find different ways to benefit your business. Should you be looking for a qualified accountant, online services such as Oneflare help match you with the best experts in your area. 

Make sure to also check out: 

Improve client communications with real-time SMS.

Find out how you can integrate text messaging into your practice.

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