Financial Telemarketing: A Quick Review « ledgerleads_blog

Financial Telemarketing: A Quick Review



January 29th, 2014

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Already the first month of the new year is coming to a close. Throughout the year, you may have already tried many new and innovative marketing techniques. However, it also pays to review the basics such as what makes for a successful telemarketing campaign in the financial services industry.

Financial campaigns require a higher level of complexity compared to other marketing campaigns simply because one does not just allow a stranger from the phone to handle their money. It doesn’t matter whether it’s funding, employee benefits, company insurance, retirement program or tax-management. This challenge immediately imposes upon telemarketers as it obliges them to establish trust and interest to your prospects.

And while you can spend time researching all over the internet and consulting other sources, everything they say can be summarized in the following guide.

Outbound calling is more demanding than handling inbound calls. It therefore requires more skills and training on the part of the telemarketer. With the right level of persistence, this marketing strategy can be really effective in channeling services to the right customers especially in financial campaigns.

Step 1: Plan your call.

Preparation is essential in calling up for financial campaigns. You must know what to say by the time you actually speak to a prospect. Think ahead of the possible objections your client may throw at you so you can create the appropriate rebuttals by then. Have all the things you needed with you such as more information about your client and services that you offer.

If you’re using email with your cold calls, check the template if it has all the information ready just in case they’ll ask for it. Finally, set a goal for your calls. Make it SMART: Specific, Measurable, Attainable, Realistic and Timely.

Step 2: Have the right attitude.

Have a right attitude towards telemarketing and understand how effective it is and how many customers find it helpful. In handling financial campaigns, you should be honest, direct and quick. Remember that you’re calling your prospects during work hours so don’t expect their cooperation too much.

If ever you get their attention, don’t waste their time. Appreciate the fact that they are not obliged to answer your questions and they are only sharing information with you as a favor. Build rapport with your prospects by using frames of references, mirroring their language and calling them by their first names.

Step 3: Just do it and do it right.

Say the right things to the right person. Keep control of calls with the gatekeeper. Keep in mind the KISS rule: Keep It Short and Simple. Try to sound authoritative so you’ll have a better chance of getting through.

Don’t also forget to make sure that you are calling the correct decision-maker (and don’t be afraid to ask if you aren’t). For example, the task of the HR manager is quite different from of the CFO. Sound as professional as you can be with proper pace and tone. Match your prospect if you can. On the other hand, learn to listen carefully as well. There’s a good reason why we have two ears and one mouth.

Step 4: Strike it while it’s hot.

Never hesitate to ask for what you want. Be it an appointment, an invitation for a seminar or even a sale. That’s the reason why you are calling in the first place. Spot the buying-hints that your prospect may demonstrate such as asking more about the products or services. Send an email of the company’s information at the moment they ask for it. Always have your calendar ready so you could easily see available dates and time to set up an appointment.

Step 5: Know when to move on.

The goal of any on-going telemarketing campaign is to keep in regular contact with key potential customers in your marketplace. You must balance this against the risk of irritating your contacts by overdoing your calls. Do a follow-up call only when you need to. Remember that a “Not Interested” tag is better than a “Do Not Call”.

Calling for a financial campaign might not be easy and always comes with its unique challenges. However withthe right mind set, perseverance and experience, it’s not. Don’t be afraid of rejection. Evaluate yourself along the way and learn from your mistakes.

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