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India’s fintech story is on a roll.
Despite the pandemic leading to disruptions in the economy, fintech companies and startups are showing signs of early recovery and bounce back to the pre-Covid level of growth.
2020 was the year that provided massive tailwinds to fintech companies, leading to an increase in the number of online transactions, rising transaction value, and a fast growing active base of users, especially across Tier 2 and Tier 3 cities in India.
With Indian consumers going digital-first for everything money, it has created a great opportunity for established and rising fintech players to tap into rising demand,
But it would require more than just existing solutions and processes to grow faster.
To tap into the opportunity that is India's fintech revolution, businesses need to rethink how they can keep up with changing consumer expectations, streamline their operations and deliver superior sales experiences at scale.
In this post, we discuss how SquadStack can help fintech players accelerate their sales growth for the road ahead with technology and automation.
The Three Barriers to Revenue Growth
Demand generation is a solved problem, largely through marketing automation solutions through which companies can access insights about their target audience and deliver personalized communication.
But when it comes to sales - most businesses still rely on old solutions to tackle new problems.
Ultimately, for fast-growing consumer companies, there are three barriers that come into play:
- Speed: Speed is a crucial component of sales success. Reaching out to inquiries and sign-ups quickly is one way for businesses to generate more demand. Usually, the faster the reach out, the higher are the chances of converting leads into customers. But with limited resources, delivering fast turnaround time is a challenge.
- Scale: At scale, servicing a massive number of leads and queries and following-up on time without compromising on quality, experience, or speed is difficult. Simple everyday activities like - following-ups with prospects requires numerous in-house resources.
- Service delivery: Setting up numerous outreach campaigns, connecting with consumers via multiple channels, while simultaneously personalizing the communication requires process expertise, massive resources, and deep consumer insights. Ensuring quality, and delivering it consistency becomes a challenge.
These problems only gets bigger as a business scales faster.
The Past: Without Automation
Until a few years ago, most consumer companies relied on a limited pool of in-house resources for reaching out to leads, filtering out the relevant prospects, and following-up with them manually.
This was both tedious and inefficient.
It led to massive wastage of time and resources. Plus, it wasn’t the most scalable solution.
Ultimately, for fast-growing companies, growing teams in-house to keep up with the rising demand became an additional problem to be solved in tandem.
Eventually, there had to be a compromise between speed and personalization. And there wasn’t a way to solve for both without cutting corners on quality and service delivery.
Third-party BPOs were unreliable, complicated, or simply unable to deliver an uncompromising pre-and-post sales experience.
But the times have changed.
The Present: With Automation
Cut to the present day, fintech companies can address their growth problems through future-ready solutions.
Through SquadStack, fintech companies can get on-demand access to a pan-India diverse talent pool of 5000+ remote callers.
Plus, businesses can manage their entire outreach with one platform across multiple mediums like - Voice, SMS, IVR, and Email.
Take the example of Uber, and how it disrupted the legacy cab-hailing industry with technology and changed how people moved from point A to B.
At SquadStack we're disrupting the traditional call center model with technology and automation.
Through Humans + Technology, we're enabling some of India's fastest growing fintech companies solve multiple use-cases at scale.
Our platform gives consumer companies three distinct advantages:
- Ability to scale massively without compromising on speed or service delivery
- Ability to integrate with third-party tools and CRMs for real-time monitoring
- Ability to A/B test and optimize campaigns to drive better business outcomes
Reaching sales goals, thus, becomes a lot easier, as businesses can focus on their core business while leveraging outsourcing to grow faster.
The Future: It's Here and Now
The future of fintech is now - and there's no better time than now to prepare for it.
India, one of the fastest-growing fintech markets in the world, is poised to reach $150-160 billion by 2025: FICCI-BCG report
Payments, lending, insuretech, wealthtech - India’s fintech landscape is rapidly burgeoning, and with discretionary spending from consumers showing signs of early recovery, the industry is set to achieve unprecedented growth.
With SquadStack, fintech consumer companies in India can deploy an pre-trained, fully remote workforce to solve for pre-sales and fulfillment.
We help rapidly scaling businesses stay flexible, agile and future-ready.
Some of India’s leading fintech businesses including ZestMoney and Upstox leverage our platform to streamline outreach, scale at will, and access a pan-India pool of talent on-demand.
For them, it's a seamless way to keep growing without compromising on speed, scale or service delivery.
What about you? Want to explore how we can help your business accelerate sales?
Get a demo to know more.