“There are over 6 billion text messages sent every day in the United States,” said Steve D'Angelo, VP of worldwide sales for Hearsay Systems at the 5th Annual Hearsay Summit.
What was more of a revelation is that 50 percent of advisors admitted they are texting, said Birdia Chambers, head of social, texting and communications distribution at Prudential Advisors. However, many in the industry are doing this with little to no compliance supervision, even though the fines can be significant.
The Evolution Of Our Business
Almost 10 years ago, Steve Jobs changed our world. Today, the smartphone is an extension of who we are.
Clara Shih, CEO and founder of Hearsay, gave a keynote address with the point that we need to market like it is 2017 (not 2007). She stated, “We have witnessed the ultimate renaissance.”
We are so immersed in this new way of living, we now connect anytime, anywhere. “We have come to take it for granted,” said Shih.
She added, “When we want something, we want it right away. We want it instantly.”
Plus, 98 percent of text messages are opened. Much better than email open rates.
For these reasons and others, text messaging can be a solid tool to use with clients. The hurdle when using texts with clients is to do so with compliance approval and oversight.
A Text Message Solution