For the financial services industry, business is often conducted over the phone. In this case, the goal of marketing is clear: drive more phone calls. The good news is, research shows that customers who call are more likely to convert. Though consumers perform research on mobile devices, they almost always place a call when pursuing higher price-point items, like insurance policies, investments or mortgages.
Since the goal of marketing is to get more calls, the first step is to understand who’s already calling, why they call and what happens on the call. With this information, you can learn what it takes for these callers to convert to clients and find more callers like them. Here are three ways you can do it:
Optimize your current budget
Learn what media drives the most high-value calls. Then, reallocate your existing budget to take advantage of high-performing channels. Not only does this optimize your current budget, but it drives down the cost of acquiring a new customer, freeing up budget to reach others. Call data can also be used for retargeting if the first conversation with a potential client doesn’t end with a completed application or quote.
Improve the client experience
When you understand who’s calling your business and why you can take steps to improve the interaction between caller and representative. Call analytics can provide information on the context of every call. Learn what your representatives are saying on the phone, and share scripts that perform well. Train employees on these findings to improve call-handling performance across your organization. In turn, you provide an excellent experience to callers, no matter which representative answers the phone. Phone call data can be analyzed in real time. Uncover lost opportunities, measure agent performance, and surface high-intent phrases, such as “application” or “quote.” With this information, take action to improve your clients’ experience and optimize your revenue opportunities.
Increase call volume
Finding new clients often comes down to numbers: I need to drive X volume of calls to get Y number of qualified leads in order to hit my revenue target of Z. Buying high-quality calls from an industry leader in call analytics can help you drive the volume of calls you need to get results. Additionally, the cost per call from a call marketplace is often less than what you could typically achieve due to the provider’s technology and experience.
Marketing today is a highly competitive endeavor. It’s not enough to analyze digital channels and ignore phone calls. Use call data you already drive to gain new insights and drive more leads.
To learn how Marchex can help your financial service company find more clients through phone calls, read our financial services one-sheet or visit our industry page.
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