Targeting Enterprise Loan Seekers with an Outsourced Marketing Approach. Resulted in a 200% Increase in Response Rates

Industry: Global Non-Banking Financial Company – NBFC

Challenge: Marketing campaigns aligned for enterprise loan seekers were not bearing results as they were mostly relying on traditional marketing techniques which were falling flat.

Solution: Outsourcing the marketing function to Span Global Services

ABOUT THE CLIENT

The client is a leading service provider and NBFC who launched a special division for giving business loans to –

• Doctors and physicians
• Healthcare talent recruitment organizations
• Nursing services recruitment organization
• Hospitals and smaller allied healthcare business
• Healthcare labs and testing facilities
• Pharmacy companies, pharmacy dealers
• Medical equipment manufacturers

CLIENT GOALS

The client had designed special discounts on interest rates and uniquely tailored loan products keeping their audience in mind.

However, reaching and convincing this audience was another challenge altogether.

They were currently grappling with an archaic marketing ecosystem.

WHAT DID THE CLIENT REQUIRE?

Traditional old school marketing was their forte and so far that was yielding satisfactory if not great results. They were dependent on old school, Out Of Home Advertisements and Hoardings, ATL & BTL marketing to catch the attention of new customers, and maintain a brand reputation among old and existing customers.

However, over the years, their customers had evolved, and now because of the ongoing pandemic – outdoor, physical, and in-person targeting was becoming difficult. It was leading to wasted marketing budgets spent on expensive outdoor ads and the customers too were no longer receptive to this alone.

What the client needed was to quickly ramp up their sales and marketing strategy to be on par with the new reality of the times. A whole new generation of doctors, healthcare decision-makers, medical purchase decision-makers, and business owners had arrived. This digitally active audience was spending a lot of time on digital channels. A key concern for many in the medical fraternity being Continuous Medical Education (CME).

This meant, they were voracious readers of online learning resources and spent hours on their email inboxes to communicate and learn the new trends that made them relevant for their end-customers, patients, healthcare workers, and more.

The Bottom line was – Old school marketing was falling flat – it wasn’t working anymore!

They needed a specialized lead generation solution for selling their doctors' loans and other allied healthcare loans.

This was precisely what was pitched to the client by Span Global Services as a service that can now be fulfilled with Spans’s outsourcing solution capabilities.

Solution

Span Global Services decided deployment of a 3 member off-site lead generation team that will work remotely but as the direct resource and repartee of the client.

A dedicated Account Manager was engaged to take care of the entire lead generation cycle – from Website lead & CRM management, lead scoring, lead nurturing, Lead filtering and finally lead qualification after running nurture email/drip email campaigns – alongside targeted LinkedIn and Facebook advertising.

The client got dedicated lead management and generation team deployed quickly that took care of the entire campaign set-up (email automation, Facebook ads, LinkedIn ads, Google ads).

The client could now focus on fine-tuning their offerings and communication related to the same. A bulk of their distraction was taken away and was now performed by the experts.

Marketing data cannot be ignored but it cannot be left to those who have neither experience nor the appetite to handle the arduous daily monitoring, analysis, and recommending new strategy or change of course for marketing campaigns.

This is an essential part of digital marketing as to be guided by data is to know what your audience feels and behaves with your communication. This requires a dedicated team and it would have been impossible for the client to achieve it all alone.

Results

What we were able to achieve for the client with a lead-gen outsourcing team.

• The client was able to do away with the cost of hiring and retaining talent.
• With a dedicated team at their disposal, working remotely – they were able to quickly activate their campaigns.
• They just had to give the brief and watch as the campaign got designed and rolled out by the experts.
• Get daily monitoring of data – how customers are engaging? Who are the best customers? Who is the one we need to take out of the CRM?

We were also able to facilitate our in-house leads database for the client-specific needs. We were continuously able to add new lead targets from Span Global Services' refreshed database.

With concerted efforts New leads were nurtured, Old Leads in the CRM reactivated and nurtured once again, drip email campaigns launched and behavior and engagement monitored along with devising a follow-up response strategy.

This was coupled with follow-up telly calls and Whatsapp campaigns.

We also organized chat with customers for specific events like a webinar or live demo of the loan offering benefits.

With the incorporation of telly calling for customer follow-ups, we were able to pass the qualified hottest leads to the sales team for closures.

Results by Numbers:

• 78% increase in Campaign effectiveness with increased ROI
• Email response rates increased by 200%
• Lead leakage capped and 100, 00+ leads reactivated in 30 days
• 3 fold growth in new customer wins for our clients
• Umpteen number of successful re-seller partners grooming

We had come with a tailor-made loan solution for enterprise loan seekers –especially targeted for the Healthcare Fraternity. Though we had designed special discounts on interest rates we were not able to make the right kind of buzz in the marketplace. Our marketing processes were archaic and need a large-scale revamp. The abstraction of our marketing processes and by outsourcing it to Span Global Services we were able to create the much-needed flutter in the marketplace.