This is the newest trend in marketing and typically gives you the biggest immediate impact. Text message advertising is most effective when marketing to consumers. You need to make sure they have given you permission to text them because there can be some cost on their end for receiving text messages. There will eventually be guidelines surrounding this just like there are with regards to e-mail marketing as technology can get more and more intrusive.
When you decide to use text messaging as part of your marketing strategy, make sure you are very intentional with an offer or discount. You also need to have an immediate call to action with a very limited window for that action to take place - like it needs to occur that day or in the next few hours.
You can also make this an exclusive club - like text only members receive something no one else gets - in order to drive signs-ups. You can drive sign-ups by advertising they text a number for a special offer or contest these entries it can sync with your database/CRM if you want it to.