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When it comes to reaching customers and potential customers, every missed call is a missed opportunity. And yet most calls go unanswered these days. This is due in part to people’s preference for texting, but it is also the result of rampant robocalls, spam, and other unwanted marketing attempts. So how can banks, credit unions, and financial institutions increase the odds of getting customers to answer their cell phones instead of sliding them back into their pockets?
The answer is branded caller ID.
Branded caller ID allows banks to display pertinent information, such as the bank name and location, on the recipient’s phone screen. Some branded caller IDs even show the company logo and reason for calling. This means that instead of seeing “Unknown Caller” or “Spam Likely”—words that immediately get calls ignored—customers will be more apt to answer the call. Branded caller ID is an effective tool to boost engagement via phone marketing. For it to be done right, marketers need to understand the different technological aspects of branded caller ID, as well as compliance standards and best practices.
In this blog, we’ll cover:
According to one study, the average number of spam calls a person receives each year is around 360, or one per day. What’s more, 26% of the population loses money to spam calls each year. This not only creates an environment of distrust around phone marketing, but discourages answering the phone at all. So, it’s unsurprising that connecting with potential customers via phone is difficult.
Branded caller ID separates your institution from these potential scams. If a customer sees who is calling and why—say, “Fraud Alert,” “Loan Information,” or “Product Offer”—they will be more likely to answer. What might have been a cold call is instead an opportunity to connect with a trusted institution.
Along with SEO, PPC, and content strategies, consistent branding via phone is an important marketing strategy to build trust, enhance results, and maintain brand visibility.
A big challenge that banks face with branded caller ID is the inconsistent experience across devices and carriers. Due to differing internal regulations and technologies, how your branded caller ID looks on one phone can be vastly different—or not appear at all—on another.
Branded calling for banks can prevent fraud and maintain compliance. Spoofed calls or scams, where bad actors use your bank’s reputation to gain access to customers, can erode trust and put both you and your customers at risk.
These practices align with the guidelines from BankBound’s marketing advisory team.
It’s important for banks to connect with their customers across all possible channels—including the phone. Here’s a step-by-step approach to implementing branded caller ID with confidence:
Make a list of all your bank’s phone numbers and sort them by department, use, and call volume. This ensures there is no overlap in line usage that could lead to branding errors on the recipient’s end.
To authenticate these numbers, register them with the Free Caller Registry. This will let them be recognized by all carriers.
Your branded visuals for caller ID should match your website, email templates, and mobile app.
Your team should understand the function and purpose of branded caller ID so they can appropriately respond to customer concerns if necessary.
Consistently monitor how your branded calls appear on customer phones. This can be done with customer feedback and third-party assessments. This allows you to make small adjustments or larger strategy changes.
Combine branded caller ID with SEO marketing services and PPC marketing services in order to maximize visibility and engagement.
At BankBound, we know that every call is an opportunity to build trust and establish your brand. Branded caller ID reinforces your brand, protects your customers from fraud, and enhances visibility and engagement. Most importantly, it results in overall better marketing outcomes. Contact BankBound to get started today.
