The Economy is not Growing, it’s Actually Contracting

The statistics for the first quarter of 2015 were updated again a few days by the Commerce Department. Instead of a .2% increase in GDP for the US economy between January and March, the Commerce Department updated that figure to -.7% for the first quarter.

What does this Mean for Business Owners and Managers?

With negative GDP growth in the economy as a whole, you must be undertaking strategic communication efforts with your customers to continue to grow your business. With zero growth or contraction in the economy, that means you’re either grabbing market share at your competitors expense or your keeping all of your existing customers satisfied with no churn.

What can I do About It?

There are many channels but one of the most effective paths and least expensive is text messaging. Whether you are just providing another channel for customer service, or growing your list of potential customers through texting, texting cuts through the static that are inherent with other channels and gets results.

The Stats Don’t Lie

Texting is the ideal path in today’s complex world of apps, websites, emails and social. I just spoke with a business owner who’s primary path of communication for her customer’s is email. She relayed that a year ago here open rate on email was a respectable 8%. Now, it’s about 3%… It went from 8 out of 100 opening to 3 in 100. That’s a big drop. Other channels are showing the same fatigue.

Why is Texting Better?

Texting for your business is impactful because your message will get read. You can’t predict consumer behavior and you can’t make anybody do something they don’t want to do. But you can have a much better read rate than 3%, 8%, 15% or even 20%. You see, 98% of texts sent get read. And even better… 90% of text messages get read within 3 minutes of receipt. That is powerful.

Take the Next Step

We can help you get your email list or other contact lists to work for you with Business Texter. You see, within those lists lies your own GDP growth. The US economy might not be growing right now, but you can be far more effective at keeping your existing customers and creating powerful reasons for your prospects to come to you instead of your competition.

Call, text, email or send us a message from our Contact page to discuss getting 500 text messages for free so you can see the results for yourself. We can help you craft a strategy for growth and irritation for your competition!