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“We believe this new venture can help us move closer to our goal of making housing loans easily accessible to Indian citizens. We chose LeadSquared because its lead management modules align well with our organizational needs.”
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Lead Leakage
LOS and LMS solutions
New customers
LIC Housing Finance Ltd. is one of the largest Housing Finance companies in India. Their main objective is to provide long-term finance to individuals for the purchase or construction of houses or flats for residential purposes/ repair and renovation of existing flats. They also provide finance on existing property for business / personal needs and also give loans to professionals for the purchase and construction of clinics, nursing homes, diagnostic centers, and office space
LIC Housing Finance tested multiple lead management systems, but none could address a persistent issue – losing track of potential customers (lead leakage).
Understanding that customer acquisition is vital, they recognized a CRM wouldn’t be just another tool; it could define their success.
Since customer acquisition is at the heart of any business, lead leakage at any level was unacceptable to the team. They knew that a CRM wouldn’t just be another add-on to their tech-stack; it could make or break their processes. So, they wanted to think this investment through. That’s when the search started for a leak-proof lead management solution, that would also scale and adapt to their growing and changing needs.
And that was the beginning of LIC Housing Finance and LeadSquared’s partnership
In addition to the challenges highlighted above, the team wanted their lead management solution to solve the following problems for them:
LeadSquared with its exhaustive in-built lead capture features, and integrations, ensures that all the leads were captured, and their sources tracked properly. With the company running digital marketing campaigns at scale, they can now ensure that leads are captured and tracked easily.
LeadSquared helps automate the lead distribution workflow and route leads to the right sales agents. Here’s an example to understand it better:
Imagine a big company that has an influx of 500+ leads a day that are from different regions, language preferences, and have varied requirements. When this workflow can be automated based on a said criterion, it can lead to a much more hassle free and transparent process in the back end.
We’ve all been customers at some point, it’s always nice and reassuring to receive an email or SMS from service provider about the status of applications or loans. Similarly, with LeadSquared, LIC Housing Finance Ltd always keeps their customers in the loop with real-time updates on SMS/ WhatsApp at every stage in their customer journey. Sales users are also notified to make an outreach to customers to nurture relationships.
Double data entry, lack of transparency, and disjointed processes are often the results of having siloed systems.
To fix this, LeadSquared’s lead management system (LMS) easily integrates with LIC’s loan origination system (LOS). This helps push data to the LOS and do a reverse update from the LOS to the LMS. Therefore, notifying the sales users on the LMS about the loan disbursal status of their customers.
