Telemarketing for financial services
Telemarketing for finance companies works when targeting businesses, landlords, and developers. Often, commercial borrowers just need a nudge to act.
When telemarketing for any financial services company, nothing prompts key decision makers better than being contacted by telephone.
Managing a business is no easy task. It is often hard to find time to apply for business finance because many business owners believe they have to collect a large number of documents prior to applying for funding.
It’s surprising how receptive business owners are from cold calls made by lenders or brokers. Can our team promote the commercial financial products and commercial mortgages you offer by phone?
Who can we contact for you
More Than Words’ telemarketing services have a better chance of success when you tell us your commercial goals first.
Our goal as a B2B telemarketing company is to deliver you the volume and type of work you want.
When we know what you want from your campaign, the next step is getting the decision maker’s contact information.
Cold calling to find new clients
To reach decision makers in companies with which you have no relationship, we can get the data we need from one of our list owners or brokers.
Choose the decision makers we’ll call from our B2B telemarketing database by:
- their areas of purchasing responsibility
- personal information such as job title,
- the line of business they work for or own
- their location, and
- the size of their business.
The more targeted and precise your list, the more targeted your campaign will be with a greater the return on investment.
Warm calling – contacting decision makers who already know you
Our team is proficient at contacting existing prospects and customers. You can ask us to sign any NDA you need if you need us to contact the decision makers.
We’ll cleanse your database to make sure the contact information and decision maker information are correct.
If the database we’re using for you is more accurate, we’re more likely to achieve and exceed your commercial goals.
Telemarketing for finance companies- your campaign team
There are multiple people involved in delivering your telemarketing campaign. We select the in-house telemarketer who has the most experience in financial service promotion for your campaign.
Get to know your telemarketer prior to the launch of your campaign so you can answer any questions they may have.
A campaign manager will build the structure and the call brief for your outbound calls.
They will create:
- a good opening for your telemarketer,
- a complete approach to handling clients’ potential questions and objections, and
- a closing strategy most likely to deliver the outcome you want from each telemarketing call.
Your campaign manager trains your telemarketer on:
- your company and the financial products we’re introducing,
- why a decision maker would want those products, and
- how to best use and deliver the script we’ve created for your campaign.
Once the campaign is going live, they will actively monitor your telemarketer’s call quality, as well as making sure they achieve the general and specific KPIs and targets.
The campaign reporter makes sure that the technology you need to view your telemarketing campaign online is stable and accessible to you.
What you need to know when telemarketing for finance companies
You need to know before you start telemarketing who you are going to call and what you are going to sell them. If the prospect is presented with multiple financial products, positive results will be lower.
They may not understand the differences between financial products, and even if they do, may not know which one would be suitable for them.
Choose the types of companies you wish to approach
There is no point in approaching a food retailer with an invoice factoring product – their customers pay in advance.
We will need to know, when we assemble your campaign for you, why the companies you choose from our database are more likely to be interested in the financial product you choose.
What makes this financial product suitable for that sector?
How will it solve problems or create opportunities?
An important factor in any call is urgency.
Direct marketing campaigns give lenders and brokers the opportunity to persuade borrowers to work according to their timescale, rather than the customer’s.
A borrower may be motivated to act quickly by knowing that you are offering a limited amount of funding on a particular financial product.
In the case of a fixed rate loan, you might want to introduce urgency by letting the prospective borrower know that a delay in applying may lead to them paying more on their loan.
What types of financial products can we promote over the phone for you?
- business loans and credit card products,
- invoice finance and discounting,
- business cash advances,
- equipment leasing companies,
- development funding, and
- residential and commercial landlords.
Outbound telemarketing for finance companies – the business case
The market for commercial finance products and services is set to intensify in coming years because:
- The number of lenders and brokers will increase
- Brokers and lenders will expand their product range to take advantage of both on- and up-selling opportunities
If their lender or broker has served them well over time, many borrowers stay with them. In any marketing campaign, they will be the most difficult to convert. Those who feel you offer better rates and better customer service will be more likely to work with you.
It’s much easier to persuade someone with a conversation than it is by email. Because of this, telemarketing is becoming more popular and effective.
Lenders and brokers generally offer high levels of service. Despite this, no company is perfect and perceived dips in service from your competitors could lead to our telemarketers convincing borrowers to transfer to our service instead.
You can’t guarantee that everyone on your borrowing pipeline will use you, but you’ll know who they are, how much they need, and when to get in touch.
Find out more about our telemarketing service
We’re open during office hours between Monday and Friday.
Call, email, or use our contact form to tell us about your company, your commercial financial products, and the types of companies you want to target with a telemarketing campaign.