finpubs

THE BEST SMS MESSAGING SYSTEM FOR FINANCIAL PUBLISHERS

As email deliverability becomes more difficult, many financial publishers (FinPubs) and financial creators are using SMS messaging. Here's why and what you need to know...

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Are you running marketing for a FinPub company or are you a financial influencer or creator?

If so, you're probably struggling with email deliverability.

Your email messages are getting lost, marked as spam, or just simply not delivered.

The solution is simple, use SMS / Text Marketing to connect with your subscribers, share content, and promote marketing messages... all to grow your business!

Here's one of my favorite Memes!

SMS vs Email Marketing Meme Placeholder

I'll show you how to do SMS marketing the right way, but first...

You need to understand, the ONE BIG ISSUE FinPubs and Financial Influencers & Creators are struggling with... EMAIL DELIVERABILITY!

Yes, there are lots of other issues in our industry. We have skyrocketing competition, constant technology changes, even evolving revenue models. However, I believe the biggest threat today is email deliverability.

Why?

For years - decades - everyone has been told, the value of your business is in the list. You've been told to build your email list... grow your email list... nurture your email list.

Now our "friends" at Gmail are filtering the delivery of legitimate emails.

They're filtering content emails from getting into the priority side of your customers' inbox..

They're filtering marketing emails.

They're filtering even "paid for" emails...

Gmail of course wants to look like the good guy in all of this, so they often label bulk senders as "Spammers," carrying the weight of all that it implies.

My Million Dollar Bet...

Just look at Google's own comment. They block 15 billion emails every day.

We all know a significant portion of those "Al filtered emails" are from legitimate senders just like you!

"Google's Kumaran says that while Gmail Al stops more than 99.9% of spam, phishing and malware from hitting your inbox including some 15 billion emails every day, that's not enough, which is why the new bulk email senders requirements have been enforced."

- Source: Forbes

I know my own emails are being blocked!

You know what the worst part is?

Your subscribers and customers don't even know their email messages are being blocked.

Check this out...

A small aside here... if your physical mail is obstructed from delivery, that person could spend up to 6 months in JAIL! It's called the "Obstruction of Mail Statute." Yet, Gmail can refuse to deliver millions of legitimate emails without a slap on the wrist.

Link to Statute

Yes, email deliverability is getting more difficult.

I'm not the only one who thinks email deliverability is hard...

Look at this blog post from kickbox (a leading email verification company).

Kickbox Quote Placeholder

The writing is on the wall... Email delivery is only going to get worse. And that's bad news for any business relying on email marketing!

We all know most FinPubs, financial influencers and creators rely heavily on email marketing...

So, What's the Solution to HORRIBLE Email Deliverability?

I believe the best way to combat falling email delivery is by changing tactics. It's no longer about simply sending more emails, more frequently.

Now you have to be strategic about how and when you connect with your subscribers.

That's where SMS / texting comes in.

SMS messaging is far superior in engagement, when compared to email messages.

But don't take my word for it, the folks at Attentive published this recently:

The impact of text message marketing

Part of what makes text messaging so effective for marketers is its immediacy. They can reach the subscribers-and inspire them to make a purchase-within minutes. But it's also a direct channel to keep engaging with them after the sale and increase customer loyalty.

  • Text messages have an average 97% read rate within 15 minutes of delivery.
  • The average click-through rate for SMS is 20-35%.
  • Shoppers who opt in to SMS are more likely to make a purchase: 63% of consumers who subscribe to at least one brand's SMS marketing program have made a purchase from a text message within the last three months.
Source

YES you read that right.

Text messages have a 97% read rate in just 15 minutes... and the average Click through rate is 20-35%.

Here's a hard truth... as more and more marketers enter the SMS messaging space, these numbers are going to get worse. (Marketers like us ruin everything - RIGHT!)

So the time to adapt is now.

Move quickly. Get on board before the SMS train is filled with every Tom, Dick and Harry!

Many of you know Matt Paulson - he runs MarketBeat and is one of the larger players in the FinPub space.

He's reported to generate revenue north of $40million a year. Even he sees problems with email and understands the shift to SMS... (at the last Finpub conference we attended he let us know how much money he makes from SMS marketing....you'd be amazed!)

Matt Paulson Tweet Placeholder

Now I know what you're thinking... SMS Marketing seems great, but how might I use it in my business?

I'm glad you asked...

How FinPubs Are Doing SMS Messaging The RIGHT WAY...

It's not hard to do SMS marketing the RIGHT WAY.

Here at Betwext, we've been specializing in SMS marketing and communications since 2015. Businesses using our platform have sent hundreds of millions of messages over 15 years... So, I can say with confidence SMS marketing is easy.

Better still we have a LARGE stable of clients in the FinPub and Financial Creator space using our system.

Here's a few simple rules we tell every FinPub and Financial Creator to follow.

Rule #1 - BEFORE SENDING ANYTHING - Set your systems up correctly.

Once you sign-up with your texting platform, don't rush to start sending messages. Take the time needed to make sure your system is set up correctly.

You'll want to make sure you have all the legals in place first... like Terms of Service pages, Privacy policy pages, even a separate SMS Terms of Service page.

Not only that, but you'll want to verify your phone capture pages have the correct legals displayed.

Why the focus on the details?

Because if your system isn't set up correctly, your account could get banned. And, you don't want to deal with the TCPA.

Here's the truth... if your business gets banned from texting, it's virtually impossible to get a new SMS texting account. The Telephone Carriers have no mercy and ban and block people all the time!

Now, I could go on for another 12 pages about how to set up your systems. There are dozens of hoops to jump through.

That's why we created a 12 page guide we give to all of our clients, to make sure they get set up the right way.

Here's one hot tip.

When you register your business with the Phone Carriers - DO NOT describe yourself as a financial company. Financial companies, like banks, brokers and insurance companies get extra scrutiny.

If you're a FinPub company or Financial Creator, you are most likely in the education, publishing or news organization space... So, describe yourself properly! There is no need to draw attention to stocks and finance here!

That one tip will save you tons of headache!

Here's another thing. Stay as far away from Banned Industries as possible.

The Telephone Carriers do not like the following topics... so when setting up your system, DO NOT associate or even use the following words...or talk about the following topics (you'll be banned in the blink of an eye):

  • Crypto
  • Investing
  • Money Management
  • Loans
  • Payday Loans
  • Stock Investing
  • Debt Collection
  • Credit Repair
  • Work from home
  • Get Rich Quick
  • Cannabis
  • Drugs

I know, I know... it's crazy. But you have to learn the rules to play the game. And with SMS, the rules are changing rapidly.

True story. Last year, we had a Betwext system user who was in the moving industry. He sent his subscribers a message about Crypto Coins as a side bar. He was banned, and his account was shut down by the phone carriers in less than 90 minutes. No appeal could help him.

Trust me, just stay far away from those topics... and you'll be fine.

One last thing. The Phone number you use to text from, dramatically impacts your ability to send messages and how quickly they get to your subscribers.

For example, traditional 10 DLC numbers (like a regular phone number with an area code) have limits on sending. 10-digit long codes are designated for business messaging in the U.S., and carriers impose specific sending limits.

They base the limits on various factors, including the nature of the campaign, your organization's type (ie education), and the vetting process. The limits change from carrier to carrier.

As I write this the limit for one of the major carriers is 3,000 segments in a 24 hour period. Whereas 1-800 (toll free) texting numbers do not have the same limits.

Then there are short codes....your most powerful (and expensive) sms marketing tool This is another discussion that we can help you with if you're a large sender.

So, choose your phone number or short code wisely if you expect your texting outreach to grow.

There's more to cover, but I'll leave those details in our free report.

Let's get back to our FinPub SMS sending best practice rules...

Rule #2 - Add subscribers to your SMS list the right way

Let me break this down for you... you need explicit, written permission to send text messages to anyone - for any reason - including ads.

I'm sure you've read some of the horror stories with the TCPA imposing fines ranging from $500 to $1,500 per violation.

So, don't mess this up.

The absolute best way - the gold plated process for capturing a subscriber - is to have them text you a keyword while tracking their IP. The keyword automatically signs them up for your list- and you have a record of their signup in your texting platform or CRM.

Here's an example of a banner ad from one of our FinPub users

SMS Signup Banner Ad Example Placeholder

Here's a bonus tip, be smart - don't use banned words for your opt-in keyword!

Another way to get opt-ins is from online forms.

If you collect phone numbers from an opt-in page on your website... You'll want to not only have an un-checked checkbox when people sign-up but also use double opt-in (a.k.a. dual opt-in).

Simply ask your subscribers to confirm their signup by texting you back a specific word. Some people just ask new subscribers to text back the letter "Y"! (I have a great example of the double confirmation below, so hold tight!). Once they text back you'll want to provide them with something like this:

SMS Welcome Message Example Placeholder

You can always upload a list of subscribers too... so long as each and every one of them have agreed to receive automated marketing texts from your business. We're not the cops... so you do you... just remember, if you run into trouble with an agency, it's on you to prove the person signed up to get your messages.

You'll want to consult with your attorney but our understanding is that even if someone gave permission to a third party, it doesn't count for your brand unless your name was specifically disclosed.

In which case you'll want to know the date/time of opt-in, source of opt-in (e.g., landing page, checkout box), IP address (for online forms), copy of the opt-in language used and be ready to provide that if asked....yes it's a lot. This is why many of our FinPub customers choose to start fresh so they are sure to be 100% compliant and fully documented from day one.

This leads to the sms texting rule about content...

Rule #3 - Send only the HIGHEST quality content.

Remember unlike email, you don't want to blast away at people. Messages need to be short and to the point. And you want to limit the number of messages you send. So make the messages of the highest quality!

Here's some simple bullet points to make sure you're texting the right things.

  • Avoid forbidden topics and words.
  • Limit your messages to 160 characters (including links and opt out language).
  • Always include the Phrase "STOP to end".
  • NEVER use a free public link shortener (unbranded bit.ly links can get you banned - in the blink of an eye!).
  • Talk to your legal team about how to disclose ads and IR.
  • Always identify yourself in your message.

Here's one very important tip. I know some FinPub companies and Financial influencers work with Investor Relations firms.

As mentioned, we're not lawyers, so consult yours, but best practice is to include a link to the required disclaimers in your message! (Don't forget this, as it will lengthen your message)

Here's one other thing to remember...

Sending messages from a 10DLC number takes longer than messages from a high throughput 1-800 texting number or short code.

If you're trying to get a message out at a specific time... like before the market opens / or before the market closes, keep that in mind. Throughput is a topic we can help you with. Some of our FinPubs have us optimize their throughput and are sending 25-100 messages per second on a toll-free number. Others go the short code route (much faster). We all know that timing matters in our industry.

On, onto the last rule for FinPubs and Financial Creators sending SMS messages...

Rule #4 - Don't overwhelm subscribers with too many SMS messages

We recommend sending strong content value information to your subscribers mixed with your promotional sending.

But, honestly, this is up to you...you know your subscribers best.

There are some who will send 3 or 4 messages in one day... then take a few days off.

Others send one daily message.

The biggest risk is opt-outs and spam complaints. You can burn a list by texting too frequently.

That said, you can also burn a list by texting too little. Crazy right!?!

If you only text once a month, your subscribers might forget you and unsubscribe or block your messages - and that’s not good for anyone.

With sms systems like ours you can track unsubscribes, set up automations, use AI to your advantage and more…. We all know that watching for attrition and reacting appropriately is critical to growth.

So what can you text?

Real World Examples of SMS Messaging…

With SMS messages, the world is your oyster so long as you follow the rules. Yes, things can change but we’ve been watching and learning from our FinPubs for over a decade. Those that do it correctly are here to stay.

You can send most types of informational messages (just remember NOT to touch the banned industries, topics, and keywords.)

I always recommend starting with your most engaged subscribers.

One FinPub company we work with started by texting their paid customers. They ran a paid alert service, so they emailed everyone and asked them to sign up for text alerts.

Now every time a trade alert goes out to the newsletter via email - the clients get an sms message too. Notice - no mention of the word STOCKS or TRADING

Trade Alert Example Placeholder

But trade alerts aren't the only thing you can send.

You can send promotions -

SMS Promotion Example Placeholder

Note, the word “(ad)” at the end of the SMS message… that’s a best practice.

Here's another company distributing a link to their most recent blog post… I know they also link to their youtube channel too.

SMS Blog Link Example Placeholder

Now this is interesting. Let’s say you send an SMS message with the link at the bottom.

Subscribers with newer iPhones and some models of Android devices will see a preview of your link page!

We know for a fact, this increases click rates.

See this below…

SMS Link Preview Example Placeholder

Oh and don’t forget those Welcome messages… Want to see how the big guys running the presidential elections did welcome messages? Don’t worry I have one from both parties…

First the Democrats.

Democrat Welcome Message Example Placeholder

Notice how they asked people to get involved… if you replied back with a specific Letter (A, B, C, or D) you’d be sent a different sequence of SMS messages. Just like email, you can set up an autoresponder for SMS lists!

Here’s the Republicans.

Republican Welcome Message Example Placeholder

Notice how they had a double opt-in confirmation? You had to text back their keyword - in order to stay on the texting list.

Here’s another example of a welcome message:

SMS Welcome Message Example Placeholder

Get started right now!

If you're a FinPub or a Financial creator, Betwext is the perfect platform for you to start sending SMS messages.

We understand the trials and tribulations of getting your accounts set up and fully operating.

Like I said we use it for our own FinPub companies and have dozens of others using the system.

Your next step is an easy one… Fill out the form below and we'll get in touch to give you a demo of the software - and share how the setup process goes.

Now I know your next question - well, how much does all this cost.

Straight up, it depends on how you are going to use the system. Accounts run anywhere from $200 to $5,000+ a month.

  • Starter accounts using 10DLC numbers with do it yourself sends, cost as little as $200 a month.
  • More advanced accounts, using SMS Shortcodes, and API connections sending thousands of messages a day can run $3 - $5k a month.

Some FinPubs are reporting that every $1 out of $6 they make in top line revenue is now generated directly from their SMS efforts. In these cases, spending $20-50K a month and beyond on texting makes sense. Amazing Right!

If you want a real world quote… sign up for the demo. Let us show you the system. Tell us how you expect to use texting in your business, and we’ll give you a fast quote.

It’s that simple. Sign up today.

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