Pretty much everyone who isn't currently living on a deserted island has used, or at least has heard of Uber, Amazon, Airbnb, or Ebay - some of today’s most well-known and successful two-sided marketplaces. Two-sided marketplaces are highly scalable with low operational costs, making them a desirable, lower-risk business model. However, they face two main challenges, especially in the early stages of growth:
(1) How to quickly qualify, engage and on-board new clients
(2) How to balance supply and demand among the suppliers and buyers
In this blog post, we’ll explain how any two-sided marketplace can use a call force to automate the process of lead qualification and customer engagement, and how to keep their sales’ funnels and customer bases flush to avoid the pitfalls associated with unbalanced demand.
An on-demand call force cuts the time it takes to qualify and engage new leads in half.
As new leads come into the sales’ funnel from a combined strategy of targeted content marketing and strategic outbound calling, they can be handed off to on-demand call agents for qualification. This saves your internal sales team a great deal of time by not having to sift through thousands of potential clients that may not be a good fit for your company. Instead, your internal SDRs only speak with truly qualified leads, cutting the time it takes to qualify in two. Marketplaces can also create and launch call campaigns to keep leads engaged throughout their buyer journey, with campaigns targeting the awareness, consideration and decision-making stages to avoid drop-off and leads getting lost in the cycle.
Re-engagement and nurturing of previously qualified suppliers and buyers is made easy with an on-demand call force.
With re-engagement campaigns, agents can call both MQLs (Marketing Qualified Leads) as well as previous buyers to update them on new product or service features, request feedback on their user experience, or offer discounts or promotional codes in order to nurture those relationships. Re-engagement campaigns can also be created for suppliers to let them know of new platform features, highlight new buyers, offer special promotional pricing rates, and also ask for their two cents on their experience using the marketplace.
Ensuring that you keep a balance of suppliers and buyers is key to managing marketplace supply and demand.
When you need to quickly qualify, engage and onboard new suppliers or new buyers to maintain said balance, using a callforce as an extension of your sales team is key. Not only can you scale the number of on-demand agents to fit your timetable depending on how fast you need to move, but these agents can drastically cut down on the time you’ll need to spend fastidiously moving through lists to find qualified and interested leads - because they do it for you. That way, your SDRs focus all their energy on closing leads and getting them onboarded quickly.
Specific industry marketplaces can benefit from an on-demand call force.
Hiring marketplace platforms can use on-demand agents to locate talent, engage candidates, and set-up interviews for their internal recruiting team. Rental marketplaces can have on-demand agents make calls to potential sellers in order to introduce them to their service and prompt them to register on their website. In a retail marketplace setting, call agents can be used to confirm purchases or return, follow up on phone calls, or take incoming questions.
Because marketplace platforms are two-sided, there is double the amount of leads and customers to engage and nurture. Call force strategies can vastly cut down on the time it takes to vet, delight, close and onboard users - no matter what the industry! A callforce can (and should) be an integral part of your business strategy in order to establish and maintain strong, consistent, and personal relationships with your users.
Interested in seeing how a call force can benefit your company’s bottom line? Request a demo today to see how VOIQ can help!