The financial services industry took a major hit when the American economy suffered the worst recession on record back in 2008. Banks went out of business, lending came to a grinding halt and the future looked bleak.

Despite the withering of finances, many financial service businesses hung on, altered their strategies and figured out how to ride out the storm by forging ahead and keeping in contact with their communities with the help of CallFire.

Because of CallFire’s innovative, affordable and do-it-yourself technology, businesses could stay afloat by reducing overhead while maintaining communication via Voice Broadcast and SMS texting campaigns.

For just pennies per call, these particular tools provide proprietors with the ability to create campaigns that offer services to new customers, maintain relationships with current clients and stay up-to-date on bookkeeping from an accounts receivable perspective.

Challenges:

• Announcing services as part of a marketing strategy to potential customers without overspending
• Keeping in contact with current clients through customer service communication
• Alerting customers that a payment is nearing it due date or is past due without spending a lot of money on man hours hand-dialing clients or sending out expensive late notices in the mail

• Simple Voice Broadcast and SMS text campaigns can automatically blast announcements directly to people’s cell phones
• Send out payment reminders to hundreds of clients within minutes
• By adding the Interactive Voice Response tool to these campaigns, customers can be connected on the spot for immediate payment and other customer services

CallFire clients have shared their success stories saying that on-time payments for services have gone up by at least 40% in some cases, saving time and money on more expensive methods to reach out to customers for payment.

In addition to these challenges, the economy forced many businesses to operate on a skeleton crew. In some cases, tasks that required an office full of employees have now been cut down to just a couple of people. That’s where CallFire’s Cloud Call Center and outbound predictive dialer tools have kept the engine running, allowing agents to triple productivity, meaning greater margins.

However, those increased margins mean nothing if hard-earned dollars are still being wasted on useless ad campaigns. No matter what the economy is doing, advertising is a necessary cost to growing a business. But, the peace-of-mind knowing that money is being spent wisely can be priceless, which is why CallFire’s Call Tracking solution can help trim the fat from a company’s marketing strategy.

By purchasing a couple of phone numbers through CallFire and tying them to separate advertisements, business owners can track which ads are bringing in the most revenue and discard the marketing campaigns that aren’t contributing anything.

Managing financial services on a slimmer budget isn’t easy. In fact, one inspiration behind CallFire’s technology is understanding how to get the job done with fewer hands.