How Ringless Voicemail Can Be Used For Lenders

How can lenders use ringless voicemail to elevate their businesses, and all of their key metrics?

Ringless voicemail has become one of the best emerging tools for the lending industry. It offers the ability to accomplish a variety of business goals at once. All while being one of the fastest, easiest and lowest cost to deploy and put into action.

What can it do for your organization? How can you use it to get more of the results you want and need most?

What Is Ringless Voicemail?

Ringless voicemail is a technology, which enables users to drop pre-recorded voicemails into phone voicemail boxes. All without the phone ringing.

This can be done individually or at a vast scale in seconds to thousands of recipients.

It is considered a technology, not a traditional telecommunications transmission over voice phone lines.

Businesses can outsource the entire process, license the technology, or use cloud based services and dashboards to upload and schedule their campaigns.

The Superior Advantages Of Ringless Voicemail For Lenders

There are many benefits of using ringless voicemail for business, as well as nonprofits, and government agencies. Lenders are one of the categories of companies which stand to gain the most and get the most benefit from RV.

Among these advantages are the following.

Efficiency

Ringless is so simple that there are no lag times from training or getting from creation to delivery. Messages can be uploaded from a phone and may be sent in less than a few minutes. You can see the results in hours instead of days or months as experienced with old school mediums.

Cost & ROI

Ringless voicemail is incredibly cost effective to implement and use on a regular basis. There is no heavy upfront investment in technology or hardware necessary. Nor in training. Depending on the volume of messages sent, users will probably be investing a few cents per message. A dramatic improvement, even over Google and Facebook Ads and creating quality content for organic social media.

It’s Virtual

The COVID-19 pandemic and ensuing restrictions created an immense amount of urgency to adapt to working virtually and remotely. Lending was one of the chief laggards which had slacked on adopting new tech and being prepared. Those that have survived need all the tools they can get to keep operating smoothly and ensure business continuity through ongoing or similar issues. Plus, it is ideal for reaching customers and partners in this new world where both B2C consumers and B2B customers are all working virtually.

Contact & Conversion Rates

Ringless voicemail has proven to offer epic contact and conversion rates compared to anything else out there. Virtually all voicemails are read and opened, or listened to. It is a stark contrast from direct mail, email, social media, cold calling and even text messaging.

Compliance

One of the top concerns in the lending space is regulation and compliance. There aren’t many methods of communication left which can be legally used. Especially at scale. Even maintaining your own website has become a huge area of liability which has bankrupted many companies. Ringless voicemail is a technology, not a phone call. That makes it exempt from most limitations. Though it makes sense and is just right to observe common etiquette when sending messages.

Types Of Lenders Who Can Benefit From RV

Virtually all lenders and related companies like loan servicers, insurance agents, and debt collectors can benefit from RV.

Residential and commercial mortgage lenders

Business loan lenders

Personal loan lenders

Payday lenders

Auto loan lenders

Credit card companies

Credit unions

Loan brokers

Debt investors

How Lenders Can Generate New Leads With Ringless Campaigns

One of the top and most pressing needs in this industry today is generating new loan leads.

Ringless voicemail campaigns are ideal for this. Incorporating all of the above benefits, they can be used to broadcast and contact new potential borrowers and win fresh and hot customers.

It can also be used to almost instantly extract and create value from all of your old leads and databases. Don’t throw away and burn these lists until you reach out with ringless. It may be the only way to get them to respond today. The ROI can be through the roof.

Messages can be used to drive in hot inbound live calls, start text conversations, and drive customers to your website and targeted landing pages to apply online.

Lead Nurturing: Follow Up & Closing

The lending space is especially reliant on multiple touches before prospective leads convert. They used to say it took an average of seven contacts. Today some say that might require 11 touches due to all the noise out there and consumer resistance to marketing.

Ringless voicemail makes this easy, affordable and effective.

Upselling With Ringless

Use this tool to maximize per customer revenue by upselling during the process. Use ringless voicemail prompts to offer upgrades and cross sales to items like insurance, payment protection, credit services, and more.

Increasing Repeat Business & Customer Loyalty

Ringless makes constant follow up, staying in touch and top of mind simple and affordable. Set up timely scheduled drops at key moments in the customer journey, on anniversaries, and when market conditions change. Let them know about new product launches, rate changes, and increase lifetime customer value. Be sure they remember and choose you for their next loan.

Generating Referrals

This same strategy and flow can be used to routinely reach out and ask for referrals. It can make giving referrals intuitive for them. With the potential to offer incentives for their engagement.

Customer Service

Ringless voicemail is a hyper responsive tool for providing ongoing customer service. Use it to alert customers to weather issues and crises, and how you are helping them. Provide timely money management tips to keep them on track and growing in value to your business. Use it to link to surveys to maintain high customer satisfaction rates.

Business Cost Cutting

Not only is RV hyper affordable and profitable, it can help slash business costs and increase the overall efficiency and profitability of small and huge lenders alike. Use it to dramatically reduce staffing, space and equipment needs. Seamlessly transfer leads and customers to the best fitting team members who can solve issues and unlock their value.

Enhancing Loan Performance With Ringless Voicemail

Making new loans is only half of the game for many lenders. The other part is maximizing loan performance and long term profitability, and the value of those assets. Regular and timely ringless voicemail drops can prompt borrowers and help them stay and get back on track. Too often all other forms of communication fail to get through, and this is the number one roadblock to loan performance. Try ringless and see the difference in the bottom line.