7 Top Tips for Selling Payday Loans Over the Phone

Posted On By admin

Want to sell payday loans over the phone, but don’t know where to start? Since it was invented, this technology has become essential for human life and, of course, has been used very well by companies.

Brazil has more than 37.4 million fixed lines and more than 228.9 million active mobile lines. With so many numbers available, there is no reason to leave this tool aside in your sales strategies, is there?

The payday loan market in Brazil

payroll loan

The payday loan market is going through a good phase in the country. The expectation is that the fall in interest rates, the economic recovery and the increase in competition will further favor this growth.

In fact, this potential is justified by the numbers. Information from the Best Bank shows that the payday loan concession hit records in 2018 – there were more than 18.185 billion, an increase of 33.7%.

And what is expected for the coming years? Experts in the area say the market will continue to grow. With a focus on civil servants and retirees, there are many opportunities and companies need to be alert and invest in strategies to attract and convince.

The 7 best tips for selling payday loans over the phone

payroll loans

Now that you have discovered that the payday loan market is booming, it is time to learn how to tap the full potential of telephone sales and increase your team’s results.

Many people find it difficult to approach and convince the customer to take out a loan over the phone, but there are techniques that make all the difference. Want to learn? Check out the best tips!

1. Empower your team

The first tip is to train your sales team, as there is no way to do a good phone service without training.

Contact through this channel requires attention and technique, as the conversation needs to flow naturally and not be inconvenient or unattractive. Selling is an art, but selling payday loans over the phone requires even more preparation.

2. Choose the right customer

2. Choose the right customer

Calling all customers in your database is not the best strategy for selling payroll. Therefore, the second tip is to study the profile of the ideal consumer and filter those who deserve your attention and dedication.

Remember that not everyone is interested in this type of product and that potential customers are usually retired, pensioners and civil servants. With that data in mind, it’s easier to decide who to call first.

3. Have a good script in hand

Our third tip is related to contact planning. After all, having a sales script will guide the employee and help him define what to say and how to approach the customer.

It is interesting to note that telephone sales have their particularities. As the consumer does not know and is not seeing the seller, it is possible that there is certain insecurity, which is only overcome with the appropriate strategies.

For this reason, have a good script in hand, defining in advance how the presentation of the seller, the company and the product should be, and also how the conversation should be conducted.

4. Present the loan properly

4. Present the loan properly

It’s time to sell the fish! But do you know how it should be done? payday loans are a very interesting type of credit, as they work with the ease of payment and at lower rates than personal credit.

The idea is to reinforce these benefits and make the client know the product being offered very well. For that, it is essential that you make a clear, precise and safe presentation.

Show the consumer that you know the product and that it can bring many benefits. In this case, it is interesting to highlight basic information, such as the form of contracting, the terms, rates and credit limits.

5. Work with relevant information

Information is your great ally when selling payday loans over the phone. That’s right! The more data you have at hand, the easier it will be to get to know the customer and convince them to take out the credit.

It is important to understand that information about the product and about the customer are the premises for achieving good results. If you know the loan you are selling and can present it safely and clearly, you will earn more sales.

Likewise, when you know your customer’s profile, the sales strategy becomes more focused and efficient. Anyway, all of this will ensure that the presentation makes sense and engages engagement.

6. Bet on technology

6. Bet on technology

For telephone sales to be successful, you need to use good tools. Technology is another ally and there are numerous options at your disposal, such as:

  • automatic dialers;
  • call recording software;
  • cadastral update systems;
  • customer relationship management software.

In summary, the use of smart platforms can significantly contribute to increasing your sales by phone. These features simplify all phases of the process, optimizing time and money for your team.

7. Drive the customer to purchase

Finally, it is essential to clarify that the purchase journey consists of stages. A good salesperson must be aware of this and lead the customer strategically in this way until the sale is completed. First, you must get the consumer’s attention. Then, arouse interest in the payday loan and, subsequently, make him want to rely on that credit. Finally, it’s time to take action and start negotiating the sale.

This is the basic structure of a telephone sale and can help you put together on a successful roadmap. Think about it! So, what did you think of the tips presented? Selling payday loans can seem like a big challenge at first. However, as demonstrated, the market is on the rise and the phone can be your team’s greatest ally.

Take advantage of everything you’ve learned to plan the best way to approach and convince your customers. Remembering that good tools are able to increase the productivity of your sales team.

Leave a Reply

Your email address will not be published. Required fields are marked *