Global Fintech continues to grow significantly and will continue to do so in the next few years. Fintech companies have two business models. A business-to-consumer sales model (B2C) or business-to-business model (B2B). Each model has its own challenges, although the B2C sales cycle tends to be much shorter than the B2B sales cycle, as businesses are slower to adopt new technology.
In B2B, the sales cycle is long, sometimes 24 to 36 months to reach a steady-state of recurring revenue. For smaller enterprise customers, the sales cycle can be shortened to six months. It’s important that these companies act quickly and keep on building that pipeline to ensure steady revenue.
By their very nature, fintech companies are forward-thinking and revolutionary. Dealing with often uneducated audiences makes information-sharing and active education a foundational need for fintech. Another key friction point in B2C is gaining new customers as there is a lack of trust.
At Futwork, we have been working with Fintech companies to help them overcome the above challenges while driving results, using tele-calling. Below are the top use cases Fintech companies can explore via tele-calling.
Lead qualification: Not everyone who signed up for your product or requested a demo or wanted more information on your product is going to turn into a paying customer. Maybe they were just curious to try your product and maybe they were just intrigued by one of your campaigns and submitted a form without any real intent to purchase. In such instances, it becomes important that your sales reps don’t invest time on cold or dead leads.