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Implementing Sales & Lead Automation in a Fintech Startup: A Case Study

Implementing Sales & Lead Automation in a Fintech Startup: A Case Study

15th Apr 2023
Fintech  Industry

This case study is conducted through a combination of interviews and surveys with sales representatives, sales managers, and other relevant stakeholders in a fintech company to examine how a fintech company can improve the efficiency of its sales through the implementation of sales automation Tools. The research will also involve analyzing the company's sales data before and after the implementation of sales automation tools, as well as its impact on the sales performance, including metrics such as lead conversion rates, and sales cycle time.

The Client Introduction

Fintech sales and lead management are challenging tasks that require a lot of innovation, adaptation, and optimization. Fintech companies face various obstacles such as data security, regulatory compliance, user retention, customer acquisition, personalized services, etc. These persistent challenges are affecting their growth and profitability if not addressed properly.

Lead management tools can help Fintech companies improve their sales and lead management processes. Lead management gives businesses the ability to fetch and organize lead data, map leads with sales owners, and track interactions.

It also involves setting up and tracking nurturing campaigns which can boost sales. Companies using AI in sales were able to increase their leads by more than 50%, reduce call time by 60-70%, and realize cost reductions of 40-60%.

A proper lead management Software or CRM system can reduce wasted marketing spend, and improve conversion rates by facilitating better lead nurturing.

Current Challenges

Some of the current sales management challenges that the Fintech industry faces include long-fund raising cycles, missed out targets, and increasing losses due to mismanagement of the leading lifecycle.

For example, a Fintech company may set ambitious targets for customer acquisition or revenue growth but fail to meet these targets due to poor planning or execution.

Another challenge for Fintech companies is keeping users engaged.

According to data from EPAM Anywhere, financial applications have only a 22.7% retention rate on day 1, swiftly falling to 5.8% on day 30. This means that many users who download a Fintech app will stop using it within the first month.

In addition to data security, compliance with government regulations, and lack of mobile and tech expertise, Fintech companies also face challenges in retaining the human touch.

With so much emphasis on digital solutions and automation, it can be difficult for Fintech companies to maintain a personal and real-time connection with their customers. This can be particularly challenging when it comes to customer service and support.

Another challenge for Fintech companies is effective marketing tactics to acquire customers. With so many new Fintech startups entering the market, competition for customers is fierce. Fintech companies must find innovative ways to reach potential customers and convince them to choose their products or services over those of their competitors.

Other challenges associated with field force tracking in fintech companies are:

Lack of real-time visibility:

Fintech companies don't have access to accurate and timely information about their field staff's whereabouts, actions, and outcomes. This can lead to poor coordination, communication, and accountability between the office and the field.

High operational costs:

Fintech companies may incur high expenses in managing their field staff's travel, fuel, equipment, training, incentives, etc. These costs can reduce their profitability and competitiveness.

Low productivity and performance:

Fintech companies may face difficulties in measuring and improving their field staff's productivity and performance. They may not have clear goals, standards, feedback, and rewards for their field staff. This can result in low motivation, engagement, and retention of their field staff.

Fintech Company Requirements

Fintech companies face many challenges in acquiring and retaining customers, such as increasing competition, changing customer expectations, regulatory compliance, and cybersecurity risks.

One of the key strategies to overcome these challenges is to implement lead tracking software that can help fintech companies generate, qualify, nurture, and convert leads into loyal customers, by automating and streamlining the process of capturing, tracking, scoring, segmenting, and following up with leads.

Lead management software can help fintech companies improve their sales efficiency, marketing effectiveness, customer satisfaction, and revenue growth.

Alongside, fintech companies are seeking a strong GPS tracker.

A GPS tracker can help plan the best and shortest routes for vehicles by using real-time traffic data and historical location data. This can save time, fuel, and money for drivers and fleet managers.

It can help automate and simplify various tasks such as mileage reporting, time tracking, expense management, etc. This can reduce paperwork, errors, and disputes for employees and managers.

It also sends timely notifications about various events such as speeding, idling, maintenance issues, geofence violations, etc. This can improve safety, efficiency, compliance, and accountability for drivers and managers

Specific Features:

Integration with multiple channels and platforms:

Fintech companies need lead management software that can integrate with various sources of leads such as websites, social media platforms, email campaigns, online events, referrals, and third-party databases. This way, they can capture leads from different touchpoints and consolidate them into a single dashboard for easy access and analysis.

Customization and scalability:

Fintech companies need lead management software that can adapt to their specific needs and goals. They need a tool that can allow them to customize their lead capture forms, lead scoring models, lead nurturing campaigns, and lead conversion workflows. They also need a tool that can scale up or down according to their business growth and changing market conditions.

Data security and compliance:

Fintech companies need software that can ensure the security and privacy of their customer data. They need a tool that can comply with various regulations and standards such as GDPR, PCI DSS, KYC, AML, and more. They also need a tool that can protect their data from unauthorized access and cyberattacks.

Analytics and reporting:

Fintech companies are seeking a solution that can provide them with actionable insights and reports on their lead generation and conversion performance.

They need a tool that can measure and optimize their key metrics such as lead quality, conversion rate, cost per acquisition, return on investment, customer lifetime value, and more. They also need a tool that can help them identify and target their ideal customer segments and personas.

A Successful Solution — TrackOlap Field Sales Automation:

We help fintech companies streamline their field sales operations by providing features such as geo-based attendance, live tracking and travel history, task assignment, and prioritization, to-do lists and reminders lead capture, scoring, etc.

It also helps fintech companies monitor and measure their field sales performance by providing features such as real-time reports and analytics, feedback, ratings, etc.

You can track the real-time location of your field, remote or hybrid teams on a map. You can also view their travel history, route optimization, geofence violations, etc. Furthermore, you can also get instant notifications and reports on their movements and activities

Next Level Lead Management:

Our lead management system provides businesses with a range of features that help them fetch and organize lead data, map leads with sales owners, track interactions, and make the lead pipeline clutter-free to boost sales, followed by reducing wasted marketing spend, and improving conversion rates through better lead nurturing.

One of the key benefits of using our lead management tool is its ability to fetch and organize lead data. This includes identity data such as name, email address, and phone number; behavioral data such as website visits; engagement data such as email opens/clicks.

By having all this information readily available in one place, businesses can easily segment their leads based on various criteria.


Lead automation:

We help you automate the process of acquiring, tracking, and systematically distributing leads. You can use web forms, CSV files, manual inserts, etc. to input leads directly into the CRM. Furthermore, you can also use various criteria such as location, industry, budget, etc. to segment and assign leads to the right salespeople.

Lead tracking:

We offer you a one-stop solution to track the status and progress of each lead in your sales funnel. You can see their contact details, interaction history, scores, stages, etc. You can also use various triggers such as email opens, website visits, form submissions, etc. to score and prioritize leads based on their interest and readiness.

Lead reporting:

Last but not least, we help you measure and analyze your lead management performance. You can see various metrics such as lead sources, lead conversion rates, lead stages, etc. You can also generate custom reports and dashboards to visualize your data and identify trends and opportunities.

Offline time tracking:

We let you track the time spent by your team members when they are offline or without internet access. You can sync their offline data with the online data once they are connected again.

Mobile time tracking:

You can also track the time spent by your team members using their mobile devices. You can use our app to capture and record their work hours and activities on the go.

A One-Stop Solution

TrackOlap toolkit is designed to provide fintech companies with a comprehensive solution for managing their sales and leads that work together seamlessly to streamline sales processes, improve lead management, and enhance customer engagement.

  • Lead Management

  • Sales Pipeline Management

  • Sales Analytics

  • Lead Scoring

  • Sales Performance Management

  • Downloading & scheduling reports

  • Customization & mobile accessibility

  • Analytical Dashboard

  • Sales Performance Management and more.

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