Service providers are using business messaging as an opportunity to serve more of their enterprise customers across verticals, using their preferred communication channels. Various sectors such as banking, healthcare, advertising, retail and more, are seeking a simple, efficient, and trusted application-to-person (A2P) SMS messaging service.
With these demands rising, there is an opportunity for service providers to pivot their offerings and grow in the messaging market to provide more of their enterprise customers with a comprehensive solution.
In 2021, the global application-to-person (A2P) SMS market was estimated at $64 billion. The market is projected to grow at a CAGR of 5.76% to reach $89.65 billion by 2027, according to Research and Markets.
Demands are growing for different messaging use cases, including Two-Factor Authentication (2FA) to securely access platforms, plus A2P and person-to-application (P2A) messaging, as more companies and consumers move towards interactive chats and AI.
For service providers, this is an opportunity to provide enterprise customers with all the tools needed to better serve the needs of their end customers. With the right solutions and expertise, it is simple to grow in the messaging market and create new revenue streams.
A user-friendly, all-in-one messaging platform can take this success to new heights.
Building customer relationships with seamless messaging
Business messaging should be simple, but this is not always the case. It is important to find the right business messaging partner who understands the market and can provide an easy-to-use platform with expert advice end-to-end.
Some enterprises struggle with a range of challenges due to a lack of experience and expertise across different communication channels. These challenges include low engagement, weak security, and high costs in return for poor results.
By actively evolving their solution sets to meet changing demands, service providers can help their enterprise customers to overcome these challenges with messaging.
More and more enterprises are moving forward in the digital world with a digital transformation strategy. This includes expanding their communication channels beyond just email. There is an opportunity for service providers to help enterprises evolve in the SMS and business messaging space and yield better customer experiences, marketing results, and security.
Despite this, many service providers struggle to enter the messaging market due to skill gaps and a lack of messaging expertise.
Simplifying SMS with a friction-free approach
To increase open rates and maximise engagement in enterprises’ communications with customers, they must pivot their approach. SMS can result in open rates as high as 98%, compared to just 20% for email, according to Gartner.
With an expert partner, platform and powerful approach to business messaging, service providers can accelerate success for their enterprise customers:
- Customer Experience & Retention –As SMS is the preferred communication channel for many customers, it can improve customer satisfaction, experience and loyalty.
- Improved ROI – SMS provides a cost-effective marketing channel that can lead to higher levels of growth, engagement, and in turn, ROI.
- Higher Security – SMS2FA can improve security and give confidence to customers that their data is being protected. This helps to build brand trust.
Enterprises that have a dedicated partner by their side can ensure the successful launch and growth of their business messaging every step of the way. Service providers have an opportunity to enter a rapidly growing market, serve new enterprise demands and capture additional revenue with an intuitive and user-friendly platform.
Delivering new experiences
It is essential for enterprises to constantly evolve their approach in terms of keeping up with where the market is going, and the communications channels that customers are choosing. Service providers must ensure they have all the up-to-date tools, insights and expertise to share with their enterprise customers for ultimate success.
Entering the business messaging market with the right tools and knowledge can help service providers to deliver new experiences, stay competitive, and explore the growing opportunities in the messaging market.
Service providers can become a trusted partner within the SMS space to start, and evolve their approach to include cloud communications and omni-channel messaging across platforms. With the right partner and platform, it is simple to land and expand in the business messaging market and grow new revenue streams.
Business messaging is a great way for service providers to accelerate their enterprise customers’ success, and in turn, take their own business to new heights with long-term recurring revenue.
