The Power of Marketing With Music On Hold
I know you’ve heard it time and time again but what they say is true… “When you have an opportunity to potentially sell your client either further on your company or a service, do it!” This case study goes a long way in giving an outsider an understanding of the power that marketing through hold messaging. Fortune five hundred companies have done it for years so why hasn’t it trickled into the small business owners suite of tools? Simply put, until recently this was a very exclusive marketing tactic reserved for the big players until company’s like On Hold Music Studio came in and made it an option for everyone.
“As a small financial institution, a little marketing can go a long way,” the CEO told me, “and we certainly don’t have money to throw around. We need to target our spending to make the most of our limited resources.”
When we began working with his team, he had just added a newsletter for its 3,900 members, increased the frequency of in-house marketing fliers from quarterly to monthly, and encouraged representatives to get more involved in pitching promotions to members as they visited the credit union or used the drive through.
This service is unlike any other marketing tactic you will employ because it’s the only time you will be able to reach your client in a captive state unless you have a very trained sales staff that knows how to frame calls. You customers can’t help but to be attentive to everything your promps are saying because one misstep could mean more time unwanted time on the phone.
But there was one element still missing: custom on hold messages for when members had to be placed on hold, and it was this service the CEO was desperately seeking. He knew that callers are captive, they’re listening and they want information. So we explained how we produce custom content and play it back into the telephone through a cloud-based player that starts and stops content on certain dates or days of the week, as granularly as the situation calls for — perfect for communicating their time-sensitive promotions to current or prospective members holding for assistance.
Our client agreed to the service. We shipped the equipment, his IT team installed it, we began to produce and upload messages and, several months later, received this unsolicited letter: “When we added Easy On Hold to our phones, booked loans increased from roughly $300,000 per month to $900,000 monthly. Clearly our policies, promotions and staff played a major role in our success, but without this marketing, who would ever know? Currently our members are telling us that they learned of our products and promotions in roughly equal portions: 1/3 from our newsletter, 1/3 from our teller line and 1/3 from Easy On Hold.” Read more…