Reach More Customers For Financial Services Trends, Tips & Insights from the Experts |Webinar

Expert tips and insights to help outbound sales and lead generation companies serving financial sectors including mortgages, credit repair, warranties, or loans. How can your agents connect with more prospects?

Convoso hosted this financial services webinar alongside our industry partners at ActiveProspect and to discuss the best practices to stay ahead of the competition, combat increasing regulations and counter the call flagging/blocking impacting lead generation and sales outreach. 

Key Takeaways from the Webinar: 

  • Best practices in consent-based marketing to gain financial services customers
  • Understanding the causes of call flagging/blocking, and what you can do about it 
  • How having the right data will secure the highest potential prospects 
  • Tips for improving contact rates and conversion rates

Some of the challenges affecting your financial services call center and your agents’ ability to connect with prospects, start with the TCPA (Telephone Consumer Protection Act). The landmark legislation was enacted in 1991 to protect consumers but has continued to evolve. TCPA focuses on limiting the use of autodialers, text messages, and emails from unsolicited sources. Tracy Laney of ActiveProspect explains, “the whole point is to not be allowed to bother the consumer.”

The law does allow you to contact a consumer if you have express written consent, which brings us to “consent-based” marketing. With consent-based marketing, consumers give you permission to be contacted: eg., they filled out a form to “learn more.” If done properly, the generated lead is in compliance with TCPA.

When your contact center uses consent-based marketing for financial services lead generation, you have “irrefutable evidence that the borrower gave you that consent and is now a compliant lead,” Tracy says.  ActiveProspect’s integration provides data with integrity and compliance to company CRMs.

However, this is not where this conversation ends. Not only are you making sure you have compliant leads under TCPA, but you also want the highest quality data on that lead. 

Having the Right Data about Financial Prospects

When looking at having the right data for your financial services customer consider this:

Every mortgage lead, for example, starts with a form fill. What the consumer tells us is simple: I want a new mortgage, I want to refinance, etc. They demonstrated their consent and supplied their basic contact info and are now a compliant lead.

However, what a consumer tells you isn’t always accurate, or sometimes you don’t have enough information to be contacting this individual in a way that keeps you in compliance. This is when you need to look at your data more closely. 

Using a data resource you can instantly match the consumer’s data with key information such as public record tax and title data. In this way you create a more complete view of that consumer. iLeads can enhance a consumer lead with capabilities of appending over 270 data points around property, mortgage and current home ownership.

Drew Warmington of iLeads describes in detail in the webinar about applying big data to home loan leads. “Let’s face it, all of us are trying to get a lead that can eventually turn into a loan. And collateral is one of the big seeds in getting a loan done. So having a robust database that you can take this internet lead against” is a huge advantage. You have to do more than simply contact a lead. With more information you can better understand which leads are more prepared for a funding event and which are more likely to close. 

Once you have your compliant leads, filtered for the right data, the next question is how do you get in touch with these leads for successful sales outreach.

What’s the Best Way to Reach Leads for Financial Services?

Before you can jump into calling effectively, you first need to understand why your calls may not make it through to your prospect. Nima Hakimi, CEO & Co-founder of Convoso says, “It’s not just one reason why calls are not getting through, it’s a multifaceted problem.” Among these reasons are: Telco carriers blocking calls and flagging calls as spam risk, third party call blocking apps used by consumer themselves, and new procedures and regulations going into effect in 2021 called STIR/SHAKEN.  All of these are potentially blocking you from reaching your leads. 

Related Content

Read more about call blocking/flagging

What can you do to minimize call blocking and flagging? 

Although there is no silver bullet, there are a variety of strategies your call center can and should be taking to reduce chances of your caller IDs getting blocked or flagged.

  1. Implement Smarter Outreach Strategies – You should be changing the call campaign based on whether or not you have low vs. high intent leads. “You should have different campaigns running that will use different caller IDs for the type of quality of lead that you have,” Nima explains. 
  2. Manage your DIDs based on call volume and location – Because the Telco Carriers and analytics companies are taking matters into their own hands to decide which call which should go through, “you need to take a look at the quantity of numbers that should be used based on how many daily calls you make and where they are located,” Nima says. 
  3. Show the carrier and consumer you are legitimate– Lastly, you should take necessary precautions to help show both the consumer and carrier you are a legitimate caller. Register your phone numbers with carrier groups, utilize caller ID branding tools, and be ready for STIR/SHAKEN.

Related Content

Read more about STIR/SHAKEN

Why financial sector contact centers need an integrated approach to combat call flagging/blocking

Reaching your financial service leads isn’t easy – there are many different layers from compliance to handling your data to having the right contact strategy in place. This is why using an integrated approach and utilizing tools such as ActiveProspect’s TrustedForm for compliance, iLeads data system for enhanced information, and a dialer like Convoso can dramatically change how you combat this multi headed monster and boost your contact rates. 

As Nima says, “The power of having all the systems working together between ActiveProspect and iLeads and having the data points is that you can really personalize and, most importantly, automate your outreach strategy.” Automation is really key to combating call flagging/blocking. If you can automate your outreach to rest a lead when needed or push a lead back into a system like iLeads to get more data you can really increase your contact rates. 

Drew continued to explain the power of these systems working together, stating “You have the ability to go ahead and have a trigger event that you can then get back in touch with the consumer, to get them when they’re ready, not when you’re ready.”  

Overall, we are here to protect the consumer and make sure we reach the right consumer at the right time.

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