Secure Your Unsecured Loan Business

Secure Your Unsecured Loan Business

The unsecured loans market in India is not only highly competitive, it is also a large channel of business. From small to large players, banks are vying for the same customer base. So what differentiates the wheat from the chaff? Building a good product, streamlining disbursement, and reducing paperwork is something most banks are striving to do – Customer 360°. This is not enough. 

Typically unsecured loan sales teams are spread across the country: in cities, towns and remote areas. This large army of sales persons are on the move, engaging customers. The key differentiator to the business is when this fleet moves fast and moves in the right direction. How can banks empower their sales teams to think on their feet, take the right decisions and close a deal faster?

Seller 360° is key to unlocking the unsecured loan business growth. 

Typical challenges managing large sales teams include:

  1. The inability to drive strategic objectives across sales efforts – It is a huge challenge for banks to cascade strategic decisions and translate them into actions across remotely distributed sales teams. 
  2. Improper, poor allocation of leads – Typically a lead is passed on by the manager to the onground sales person via whatsapp, email or sometimes through a call. There is time delay leading to lead decay and sometimes wrong allocation of the lead. 
  3. Lack of  insights into best sales behaviors – Every sales win is a case study and best practice that provides valuable learning. But how does a sales person in city A learn the best practices a high-performing, tenured sales person in City B has experienced? Imagine a platform that studies these wins, case studies to accurately predict successful sales behaviors and shares it to sales persons who may need it ahead of a conversion? It can truly empower the team. 
  4. Fragmented visibility into sales activities: Managers are unable to mentor, guide and support sales persons who may need coaching, intervention because of incomplete capture of activities and poor on ground visibility. 

As an Unsecured Loans business decision maker, you need to find the right solution to address these challenges and enable your sellers to drive more revenues. Sales engagement platforms such as Vymo are built to bring in technology that can streamline these complex sales structures and with Machine Learning capabilities provide insights bottom-up and deliver business outcomes.

So if, 

  1. Leads are allocated faster and to the right salesperson based on their propensity and type of offer
  2. Sales people can make custom pitches to the lead because they have a 360° view of the customer
  3. The UI is clean and intuitive helping salespeople to capture their call/meeting data easily
  4. Sales teams receive intelligent insights and are nudged towards actions that are based on winning behaviors
  5. Managers are able to holistically view sales teams’ performance and support individuals who need help, in real time

It can completely transform the day-to-day working of the on-ground sales teams thereby positively impacting your revenue through the Unsecured Loans business.

To know more about Vymo, click here…

Author

Annapoorna R
Annapoorna RHead of Content - Vymo
Annapoorna heads Content at Vymo. She has twenty years of experience across journalism, corporate communications.
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