How Ringless Voicemail Can Be Used For Payday Loan Lenders

Why do payday loan companies need ringless voicemail, and how can they use it?

Ringless voicemail has emerged as one of the most valuable and essential tools for the payday loan industry. It not only offers the potential to achieve a variety of business objectives at once, with compounding benefits, but offers one of the speediest, easiest and most cost efficient tools for restoring and expanding businesses in this sector.

How can you use it in your company? How can it be used to get more of the most needed and desired results?

Ringless Voicemail: What Is It?

Ringless voicemail (RV) messaging enables its users to deliver pre-recorded voicemails to recipients’ voicemail boxes without the phone ringing.

These uniform messages can be sent individually, in batches to targeted groups of contacts, or even at great scale to lists of thousands.

As a new technology, RV has so far fallen under a different classification than traditional telecommunications transmissions via voice phone lines. This frees ringless voicemail users from the frustrating limitations and liabilities tied to cold calls, texts and even email.

Payday loan companies can license this technology, outsource it all, or use simple cloud based dashboards for uploading and scheduling campaigns.

The Advantages Of Ringless Voicemail For Payday Lending

There are plentiful reasons for incorporating ringless voicemail in payday loan businesses..

Among the advantages it offers include the following.

Startup Costs & Returns

RV comes with no hefty upfront investment nor hardware. No expensive or lengthy training is needed to begin to use it either.

Ringless voicemail means connecting for just a few cents per message. A dramatic improvement over Facebook, Google Ads, cold calling, maintaining expensive retail storefronts, TV advertising and radio.

You can get started in minutes, get results in hours, and all for the highest marketing ROI your company has enjoyed yet.

Efficiency

Ringless voicemail is fast to get started with, and even more efficient on a daily basis. It is perhaps the most agile of tools for responding to catastrophes and major events in the marketplace and world.

Virtual & Remote

The quarantines,lockdowns and riots of 2020 have been a huge wake up call and change for all industries. It has thrust every business into the immediate need to operate seamlessly in a remote and virtual business environment. The finance sector and payday loans in particular were notorious for being among the most behind in adopting new technology and being prepared.

Ringless voicemail may quite likely prove to be the one thing which saves many businesses, and allows them to grow and benefit from the surging opportunities available.

Conversion & Delivery Rates

While you may have grown used to suffering along with low double digit or even single digit open, response and conversion rates, ringless voicemail completely changes this dynamic.

Who doesn’t check their voicemail? Delivery and read rates will blow your mind if you are used to PPC ads, email or even social and direct mail or cold calling.

At a dramatically lower cost per contact, you will probably be enjoying far far more returns and profitability than ever before.

Compliance

One of the top issues plaguing those in the payday lending space is still compliance and regulation.

Tragically for ethical business operators and consumers, there are few communication methods left that can be used without great liability and burdensome regulation.

This is why ringless voicemail is provign truly invaluable. It may make all the difference in staying in business or having to fold. Just be careful not to abuse it and bring down the wrath of regulators and consumer protection agencies on this tool too.

Types Of PayDay Loan Providers Which Benefit From RV

Local payday loan lenders

National lenders

Payday loan servicers

Loan collection firms

Secondary market firms

Personal loan tech startups

Account managers and salespeople

From solo entrepreneurs to the largest organizations, solar pros can all find great rewards from implementing this technology.

Generating Payday Loan Leads With Ringless Campaigns

There is both a tremendous need for payday type loans and competition for these borrowers today.

Ringless voicemail has many advantages for generating loan leads. In addition to those we’ve covered already, this is a powerful medium for standing out from the crowd, making it effortless for prospects to reply and take action, and even seamlessly move into the application process. All even during major business disruptions that would otherwise put you on the side lines.

RV even makes it extremely simple and efficient to tap your old lead database for value.

Payday Loan Lead Nurturing

One ad, touch, or connection rarely leads to a sale in most industries today. Yet, with such low performance in other mediums few businesses can afford to follow up well today. That creates a downward spiral. Ringless changes this dynamic, and gives users an enormous advantage which will keep snowballing growth.

Customer Service

RV isn’t just for new lead generation either. It can also be used to provide ongoing customer service, cross sell to other products, and direct borrowers to the most useful help.

Retention, Repeat Business & Generating Referrals

Use ringless voicemail drops to stay in constant contact with your customers, and remain top of mind in a very automated and affordable way. Schedule your drops and make sure you are the obvious choice for repeat business, and referrals from your customers.

Cutting Business Costs

Ringless voicemail provides the ability to dramatically scale operations without adding more overhead.

In leaner times it is also perfect for reducing overall business costs, without sacrificing ability to do business. Use it to generate and serve more leads, with a fraction of the team and operating expenses. All regardless of where they are working from.

Enhancing Payday Loan Performance With Ringless Voicemail

Making payday loans is only half the job in this business. The other half is loan performance and profitability. Ringless voicemail drops are highly effective for prompting borrowers to stay on time with payments. When other communication methods fail to get through, this may make all the difference.