Cold calls may have developed a bad reputation in some circles, but it’s not one that it deserves. The fact of the matter is that, when done properly, it’s still one of the best ways to spread the word about your business. It has a great return on investment, and you’ll find that when you play your cards right, you’ll find that it’ll do wonders for your business.
This is especially true for investment firms. After all, a lot of problems people have with investing is that they simply don’t know where to start. This is where a call from a helpful and knowledgeable agent can come in, guiding the potential lead into making smart and effective investments that will be beneficial to both the individual and the firm.
But, before you can start implementing telemarketing as a marketing strategy, you need to have a good understanding of what it is, how to use it, and how to take full advantage of its good qualities to improve your prospects. Here’s a helpful guide on all those things:
A Beginner’s Guide to Telemarketing
Telemarketing is a direct marketing strategy that’s been around for a while. It can come in a lot of forms, from inbound communication to lead generation through B2B services. But the most common ones are outbound calls, also known as cold calls.
This is best done by making digital calls through VoIP services. It’s a lot cheaper and more accessible than its analog counterparts, and it’s much easier to customize the experience to further optimize your operations. You can even install an autodialer or progressive dialer to speed up the process even more and really double down on getting your return on investment.
And there’s more than one way to set up an outbound telemarketing campaign, too. It can be done through automated phones, but having actual agents do the talking is always the better option. It makes the business more trustworthy, and a trained individual is also more flexible and quick on their feet.
Since your agents will be directly communicating with their customers, it’ll be easier to build a rapport with them. The caller can address specific concerns and tailor their marketing pitch and advice to suit the needs of the person on the other end.
This can mean offering different investment opportunities to people depending on their profile. Maybe they need a retirement fund or set aside money for their children’s education. There is a wide variety of financial products, and telemarketing lets financial advisors figure out what their clients need the most in a way that’s easy and convenient for both parties.
Benefits Financial Institutions Can Get From Telemarketing
While flexibility and reliability go a long way in improving business prospects, they’re not the only thing you’re going to need if you want your financial institution to succeed. Here are just a few other benefits you can get from telemarketing:
Expands Your Reach
There’s only so much you can do from one location, and this is where the magic of telemarketing really shines. Through VoIP-powered calls, you can reach anyone in the world without any difficulty. As long as you know their phone number, you can call them and pitch your investment products.
Everyone could always use more financial advice in their lives. Being the person who can reach them and give them what they need because of your telemarketing strategy is going to be a big advantage over your competitors.
Increases Sales
It’s just simple mathematics. The more leads you engage with, the more customers you get. And the more customers you have, the more money you earn.
As long as you implement a smart and effective telemarketing strategy, you should be seeing some growth. And as you continue your marketing strategy and diversify your financial products to keep up with everyone’s needs.
Builds A Casual, Light-Hearted Rapport With Your Customer
Just because they’re cold calls doesn’t mean you shouldn’t make the relationship you have with the person on the other end warm and inviting. Your agents will be speaking directly to your potential customers, and it’s best that they take the opportunity to establish a good rapport.
People are more prone to trust someone if they like them, and trust is crucial in any marketing scenario. Before your agents can even start selling investment products, they first have to establish themselves as friendly and reliable.
Setting the tone is everything, and doing that over the phone is one of the easiest ways to get it done. As long as your agents are trained properly and know what they’re talking about, then there won’t be many things that can stop you from getting new clients into the door.
Minimizes Costs
VoIP services are very affordable, especially considering how wide your reach is. And because it’s so easy to use, then there’s not much training required, either. This makes telemarketing a very sound investment.
Just set up a few computers, and agents knowledgeable about your financial services or products, and give them a quiet place to do their job, and you’re already good to go. This also means that you won’t have to go through all the trouble of setting up new regional offices in different localities just to get in touch with customers there.
You can just stay in your main office and do all your work from there. There’s a lot less manpower and money involved, and you won’t have to deal with the logistical nightmare of setting everything up.
Tracks Market Data
Another benefit of using VoIP for your telemarketing campaign is that it’s all happening on a computer, which means that it records a lot of data that you might find useful in the future. Aside from that, your agents won’t have any difficulty recording data from their conversations with their clients.
You can use this information to figure out the next steps for your business. If a lot of people are looking for specific insurance products, for example, then maybe you can look into offering more of that. Have you noticed that you’re having trouble getting the people you’re calling to invest? Then, maybe it’s time to review your list of leads and see if you need to come up with a new one.
Turning Your Leads Into Customers
Once you’re ready to get started on your telemarketing journey, the first thing you have to do is find a reliable VoIP provider like CommPeak that can facilitate as many calls as you need. We also have a lot of features that will complement your campaign, such as bulk SMS campaigns and providing you with your own CloudPBX and autodialer if you need them.
Want to learn more about our services? Get in touch with us today and talk with one of our technical experts about your needs.
