In an article by Tim Fujita-Yuhas of The Financial Brand, the author highlights some staggering statistics concerning text message usage by mobile banking customers. For example, “64% of millennials prefer text messages to voice for customer service.” The Financial Brand also notes how “77% of millennials look favorably on companies that offer text messaging communications.”

The worst part about this? Not all companies have text message-oriented customer service. Fujita-Yuhas acknowledges that this is one of the biggest issues with customer service in these situations. But why the sudden increase in demand by consumers to receive text messaging communication? 

According to Tim Fujita-Yuhas, it’s because of a change in customer demographics. Millennials now make up the largest group of consumers in the United States, and it’s changing the way that they interact with the companies that they support. The biggest issue pointed at in this review is that 81% of customers find that being tied to a phone for customer service is one of the most frustrating parts of receiving service from a company.

Texting allows a form of mobility that has not been utilized until now. And while things like privacy laws need to be reviewed prior to usage, opting-in to mobile messaging for companies does make a difference in the long-term.

Please find this link for the full article.