How Fintech companies are leveraging tele-calling
Author : Harsha Rampal | Published On : 25 Mar 2021
Global Fintech continues to grow significantly and will continue to do so in the next few years. Fintech companies have two business models. A business-to-consumer sales model (B2C) or business-to-business model (B2B). Each model has its own challenges, although the B2C sales cycle tends to be much shorter than the B2B sales cycle, as businesses are slower to adopt new technology.
In B2B, the sales cycle is long, sometimes 24 to 36 months to reach a steady-state of recurring revenue. For smaller enterprise customers, the sales cycle can be shortened to six months. It’s important that these companies act quickly and keep on building that pipeline to ensure steady revenue.
By their very nature, fintech companies are forward-thinking and revolutionary. Dealing with often uneducated audiences makes information-sharing and active education a foundational need for fintech. Another key friction point in B2C is gaining new customers as there is a lack of trust.
At Futwork, we have been working with Fintech companies to help them overcome the above challenges while driving results, using tele-calling. Below are the top use cases Fintech companies can explore via tele-calling.
Lead qualification: Not everyone who signed up for your product or requested a demo or wanted more information on your product is going to turn into a paying customer. Maybe they were just curious to try your product and maybe they were just intrigued by one of your campaigns and submitted a form without any real intent to purchase. In such instances, it becomes important that your sales reps don’t invest time on cold or dead leads.
Product Training: If your FinTech is a broad-based B2C and unless you can leverage some significant partnerships, you could be staring down at a long, expensive, process of market education before the conditions are favorable for scaling. It’s important that you educate the market as quickly and cost-effectively as possible.
Payment reminders: As a business, you try to streamline your business finances from the start. It is necessary to generate and send online invoices to the customers and also create a payment reminder if your invoices are not paid on time. At times it becomes a hassle for the in-house teams to constantly follow up as it takes it up too much of their time. Auto reminder calls for monthly or yearly renewals to improve the process.
Support management: Given the complexity of Fintech products, users often stumble during onboarding or when they have to complete different processes on the platform. It’s important that constant support is provided to the users making sure they get to experience the product without any difficulties.
If you are Fintech company looking to optimize your sales and operational processes with Futwork, reach out to us at firstname.lastname@example.org or fill in the form here and we will get in touch with you.