How to Get Merchant Cash Advance Leads
One of the main indications of the success of an MCA company is if it can maintain a steady stream of prospective clients, commonly known as leads, who are interested in the financial solutions that they have to offer. These leads can be small companies, business owners or maybe even individuals looking to start a business, who are interested in taking out a merchant cash advance to support their business goals.
Each sale starts as a business lead. To be more specific, each merchant cash advance borrower starts as an MCA lead. So it’s easy to figure out that the only way for your MCA business to grow is if there are always business owners or companies that are interested in your MCA products. In other words, your lead funnel should always be full. It will then be up to your sales representatives to go through this funnel and make their spiel, hopefully turning each lead into an actual client.
What are Merchant Cash Advances?
Before we move along, let us first define what merchant cash advances are. Simply put, a merchant cash advance is a quick money that you get from a lender in exchange for a portion of your future sales. They are actually among the most popular financing options that small business owners tend to use these days. Merchant cash advances have become highly preferable because of their versatility, practicality, and ease of acquisition. This is also why many business lenders have opted to concentrate on offering merchant cash advances as opposed to other kinds of loans and financing options.
Why Do I Need Merchant Cash Advance Leads?
With the high demand for merchant cash advances, you would probably think that finding a client will be very easy. It’s true that there are plenty of potential borrowers, but there are also plenty of MCA lenders these days that are trying to take advantage of the demand. MCA lenders can be found in any industry, and their numbers are increasing, even more, every day. If you don’t take an aggressive approach, the other lenders will always beat you to the best clients. To ensure that your business thrives and outperforms the competition, you need to keep your lead funnel full at all times. You must also learn the most effective ways of how to get merchant cash advance leads.
What Are the Most Effective Methods of How to Get Merchant Cash Advance Leads?
In the vast sea of business owners, small organizations and startup companies in your area, how do you find the potential customers who might be interested in taking out an MCA from you? You certainly can’t go asking each of them one by one if they would like to borrow money from you. It’s not very practical and it would be a massive waste of your time and resources. Luckily, there are many efficient ways of getting merchant cash advance leads. Here are some of the most popular methods, as well as how each of them works.
Possibly the simplest and most direct method of finding merchant cash advance leads, cold calling refers to making outbound calls to target clients and directly asking whether they would like to take out a merchant cash advance. Also called telemarketing, this is actually one of the older methods and, despite a proven track record, is no longer very much in use today.
Sending out emails to prospective clients can elicit a lot of positive feedback if implemented properly. Everything needs to be just right, from the subject and the content of the email, to the choice of recipients and even the timing of when to send the messages.
Search Engine Optimization
This is by far one of the most effective methods of how to get merchant cash advance leads. It might require considerable effort in the beginning, particularly in creating the content and setting up the links, but it is a great long-term solution that will keep those leads coming in for many months and even years to come.
Building Your Brand
Although it sounds very basic, many MCA providers underestimate the importance of choosing an effective brand name for their business. You need to create a strong presence in the industry that will make your potential customers take notice of what you have to offer. Creating brand awareness should be one of your first priorities, especially on the internet. This will make you more visible to the public. Once you are able to establish a strong brand with a positive reputation, consumers will be more likely to get attracted to the financial solutions that you have to offer.
Social Media Marketing
Make sure you have an active account on all the social media platforms. In particular, you should make sure that you have a strong presence on Facebook, Twitter, Instagram, LinkedIn, Pinterest and Reddit. In addition to making relevant, informative and interesting posts on your own accounts on a regular basis, it would also be a huge plus if you can reply to comments and engage your followers. Posting comments on related social media accounts will also put your name out there for the world to see.
Posting Interesting Videos
TikTok has really taken the world by storm, and you absolutely need to take advantage of this by posting your own short but interesting and relevant videos on this very popular social media site. Of course, there is also YouTube for longer, more serious and more informative videos. Make sure to post links to your videos on your other social media accounts, as well as in your blog, or in comments to other posts. Remember, the most relevant your videos are, the better the chances that they can help you generate merchant cash advance leads.
Monitoring the Competition
In order to make sure that you are performing better than your competitors, you need to keep a close eye on them, especially on social media. Follow them to see what they are up to. Find out what offers they are giving their prospective clients, how they are marketing their products, and so on. There’s nothing illicit about following your industry rivals on social media – they’re probably following you as well – so you don’t need to feel guilty about it at all. You don’t have to follow what they are doing, but you can get ideas from their activities in order to better your own marketing strategies.
Purchase from a Professional Lead Generation Company
All the methods that we have discussed above have proven to be effective, as seen from the results of companies that have been using these strategies. But if you can’t implement them because of lack of time or resources, as is the case for many MCA providers, then there is no need to worry. There is always the option of purchasing top quality exclusive merchant cash advance leads from a professional lead generation company, like MasterMCA. In fact, this is the preferred method for many lenders today because it comes with so many great benefits, despite having to put out some amount of money at the outset.
Reasons Why You Should Work with a Professional MCA Lead Provider
With the stiff competition among the continuously growing number of MCA businesses today, it is absolutely necessary to employ an aggressive strategy of how to get merchant cash advance leads. You want to get the best possible leads in the least amount of time, preferably before your competitors get to them. And in order to accomplish this, you would need the expertise of a professional MCA lead provider.
Efficient MCA Marketing
Generating MCA leads using the strategies that we have discussed above is not always as easy as it seems. The process sounds simple enough but the actual implementation requires skill and experience. Many MCA lenders decide to embark on lead generation on their own, thinking it will save them money. But in the long run, it can actually be costlier and might even deliver no results.
Minimal Waste of Time and Resources
Searching for and targeting really good merchant cash advance leads can take a lot of time, especially if you are not really an expert in the process. On the other hand, a professional MCA lead provider has had years of experience in generating these leads and knows exactly what to do with minimal wastage of resources. At MasterMCA, we use only the most reliable techniques and algorithms to ensure that you get quality MCA leads with every order that you purchase.
Real-Time Transfer of Accurate and Fresh Leads
Time is critical when working with leads in the finance industry. You don’t want to waste time letting a perfectly good lead go to your competition simply because your provider did not transfer the list to you right away. This will never be a problem if you work with MasterMCA. We ensure that your leads will be right at your fingertips almost as soon as we generate them, so that you can let your sales representatives get to work right away.
Steps for Approaching and Following up on Merchant Cash Advance Leads
Now that you know how to get merchant cash advance leads, you should also know what to do with them once you have them. After all, the reason why you got them in the first place is to use them for growing your lending business. The steps on using these leads are really not that complicated.
Research about the Lead
When you make a presentation, you have to show your lead that you have taken the time to get to know their business. Go through their company profiles and the pages of their website. Use the information that you can gather to illustrate how your MCA offer will be a perfect fit for their business needs.
Confirm the Meeting
Even if you have already set an appointment, call before the scheduled time to confirm whether they are indeed a go for the appointment. This shows that you greatly value their time and that you are willing to meet them at the schedule that is most convenient for them.
Meet with the Prospective Client
Go into the meeting with a confident but definitely not arrogant attitude. Make sure that you are fully prepared to answer any questions they might have about your offer. You have to be able to explain to them all the terms and conditions of the loan, how it can be highly beneficial to their business. Be professional, courteous and pleasant for the duration of the meeting.
Close the Deal
Not all leads will be ready to make a purchase and close the deal after just one round of marketing efforts. As a matter of fact, it takes five or more follow-ups on average before a sale is closed when it comes to financing solutions. But if you feel that the lead has been thoroughly convinced and is ready to close the deal, then you can proceed to the signing of the agreement.
The MCA industry is still very lucrative and can give you substantial profits if you play your cards right. But the competition is getting tougher by the minute. Make sure that you maintain your place in the lead by partnering with only the best merchant cash advance lead generation company.
With MasterMCA at your back, you can be sure that your lead funnel will always be brimming with unique, qualified, exclusive leads that have a very high chance of converting into a sale. We drive the leads, and all you have to do is close the deal and watch your business soar to new heights of success.
Leave A Comment