If you run a merchant cash advance business, we are sure that one of the hardest things to come by is quality leads for your sales team. With so many competitors vying for the same leads online, finding a fertile pool of leads to convert to clients is not as easy as it should be. However, successful businesses have done quite well for themselves in this area.
By churning out quality leads on a daily, weekly and monthly basis, these businesses remain at the top of the value chain when it comes to closing sales and maintaining their revenue targets
Types of MCA Leads
As a manager, you will have to make a decision about how you intend to attract leads for your business. One involves generating the leads yourself while the other involves the use of a lead provider. There are two types of leads and we explain them below.
One type of lead is organic lead. This type is sourced by tracking down online prospects who are searching for the type of product or service that you offer. While they may not visit your website at first, you can develop content using keywords that they may likely use. When they search for information using the keywords, search engines will generate search results with your website being one of them.
Organic lead generation strategy can churn out different qualities but the good thing about it is that it can be a constant method of generating leads for your business. The leads are developed organically as online users search for information that your website already has.
A purchased lead is one you don’t generate yourself but obtain from third parties. A lead provider sells leads to businesses that need them; if you buy leads already generated by a lead provider, that can be classified as a purchased lead.
Companies buy leads from lead generation agencies because they either don’t have the tools or time to generate the leads on their own. In other cases, it may be that they just want to close as many sales as possible within a relatively short window so they go for qualified leads.
Buying purchased leads from a lewd provider is more expensive than using organic leads, but if you buy from a highly rated lead provider, the possibility of converting them into customers is a lot higher.
Organic Leads vs Purchased Leads
The decision to use organic leads or purchased leads is a choice. Some companies with a larger budget prefer purchased leads because it delivers faster results but those with much smaller budgets prefer to generate leads organically. The benefits of using any of them have their advantages and disadvantages.
Purchased leads drive traffic to your website and you can generate sales much faster. Further, the increase in visitors will make your website rank high on search results. However, this lead generation strategy is quite expensive.
As for organic leads, it takes more time for your effort to bear fruit as you need to keep putting in the work to build your website’s authority and community. However, in a short while, your business would have built a digital footprint across the internet that will keep driving traffic to your website organically.
Another good thing about organic lead generation is its cost-effectiveness. You spend less over a short period but reap the benefits for a long time to come, unlike purchased leads that require continuous financial reinvestments to get them.
Both types of leads have their benefits so it is recommended that you use both. You may build your website to generate leads organically while buying fewer paid leads to boost your brand and make sales in the short term. Over time, as your website gains authority and the brand becomes more authentic, you can invest less in paid leads and more in developing organic leads.
Who is a lead provider?
A lead provider is a company or agency that collects business and customer data and sells to businesses looking to buy them. MCA lead providers generate these leads by collecting the data of online users who are actively searching for MCA products and they sell the same to merchant cash advance loan providers.
A lead provider will use software to get leads from multiple sources all across the internet and segment these leads into different categories. They have a dedicated team of experts and a sales team who analyze the data their software generates so as to turn them into qualified leads. Lead providers use the following to generate leads.
- CRM integration
- Contact list
- Database management
- Account based management
- Scheduling appointments
- Personalized marketing campaigns
And lots more.
By combining a host of different tools and resources, they can furnish the sales funnel of their clients with an abundance of quality leads to keep them profitable. Lead providers charge differently for their services but a common method is the monthly subscription pricing model.
Subscribers to their service pay a monthly fee to use their service but some others will charge businesses per lead. The cost varies with hot leads going for a higher fee. Hot leads are prospects that are looking to buy the services at short notice so are therefore easier to convert.
Types of Lead Providers
If you decide to use the services of a lead provider before you begin your search for one, you need to know the difference between the two types of lead providers.
Lewd providers are classed based on their lewd generation strategy; knowing how a lead agency generates their leads will help you decide whether their leads will be the right fit for your business. Here they are
Outbound Lead Provider
An outbound lead provider is the most common type of lead generation agency there is. This type of service provider utilizes direct mailing, cold calling and emails to generate leads which they then sell for profit. This has been the standard lead generation practice in the industry for a long time. They sell far fewer leads and their price per lead is quite expensive because they are hot leads. The leads they offer have an above 80% conversion rate.
Inbound Lead Provider
An inbound lead provider uses a different strategy. Inbound agencies came to life at the dawn of the internet age. An inbound lead agency uses software and technology tools to track and attract leads. They also work with social media and search engines too.
Now that you know who a lead provider is and the types of lead providers there are, let us progress to the next step; how to find a good lewd provider for your business.
How to find the best lead provider
Lewd providers are rated based on the quality of the leads they sell. Any provider or agency that can offer hot leads consistently is the type of agency you should be looking out for. But how can you know if a lead agency will best fit your business?
Here are some clear signs to look for –
They work With Small Businesses
The kind of lead provider you should be looking for is one that can work with small businesses. This is because your budget should be considered when shopping for leads. Any company with a track record of working with businesses that do $10,000 or below in sales will be a good fit for your business.
Such a provider will supply you with leads that will not be hard for your sales team to convert into customers. As long as your products are good, you will definitely make a sale in no time.
But if you have a large budget to buy paid leads, then the history of the lewd provider should not matter. As long as they can deliver hot leads that represent value for money you can work with them.
They Do Regular and Comprehensive SWOT Analysis
A very good lead provider will always perform a regular SWOT analysis on the companies they supply leads to. Can they identify the strengths, weaknesses and opportunities that your business possesses? If they can, chances are that they will supply you with leads you can work with.
Good leads are leads that are expressly looking for the kind of products your business offers. Trusted lead providers know this, and that is why they take the time to study your business to know what it needs before they begin to funnel leads your way.
Don’t be in a hurry to accept leads from third party agencies simply because they claim that their leads are good enough. If they are not willing to study your business to a certain degree they may sell you poor leads that will boost your website’s traffic but are hard to convert into customers.
They Offer Customized Leads
This tip ties into the previous one above. Consider working with lead providers that offer customized services. Leads that are tailor made for your team will be much easier to covert than those made for every average Joe. A good MCA lead provider understands the industry you operate in and the kind of clients you need. Their in-depth understanding of your profile will place them in a good position to generate the kind of leads your sales team requires.
Customizing their services to suit your needs is a clear sign that they are serious about helping your business grow rather than just taking money out of your pocket.
They Know Your Target Audience
Do they know your target audience? Have they generated the kind of leads you need for other businesses like yours? When selecting lewd agencies, choose one that can guarantee you quality leads instead of quality.
For instance, an agency that can generate 100 leads with a conversion rate of above 80% every month is better than another that can generate 200 leads monthly but has a 30% conversion rate. A small number of qualified leads will take less time and resources to convert and that is what you should be looking out for. An agency that knows your target audience will know
- The age group they belong to
- The age group with the highest conversion rate
- Their earning bracket
- If they can afford your product
- Their current location
- If your sales team can reach them directly
This information is what helps them fine tune their software and data collection strategy in order to generate quality leads. Any agency that knows your target audience well is an agency you want to work with.
When searching for a lead provider for your business, it pays to do your due diligence while factoring in these tips given above. If you find a good agency for your leads, your Sales funnel will not run out of quality leads to convert.
MasterMCA is an MCA Lead provider that offers merchant cash advance businesses quality leads using the above criteria listed in this article. This lewd agency ticks all the right boxes for the average small business in search of hot leads that are easy to convert.
If you have been looking for an agency whose leads you can trust, look no further than MasterMCA. We provide quality leads to small businesses on a small budget and their sales margins have improved because of our custom lead generation software. Contact us today and let us provide you with the leads your team can work with.
Lead Provider FAQs
What types of lead providers are there?
There are two types of lead providers; outbound and inbound lead providers.
What can a lead provider do for my business?
A lead provider can supply your business with easily convertible leads.
How do I know a good lewd provider?
A good lead provider will provide your business with the right kind of lead who are actively looking for the kind of products or services you offer
How do lead providers source their Leads?
They use different methods and lead collection strategies including software, questionnaires, content and paid Ads.
How many leads will a lead provider offer me?
As many as you subscribe for.
How do lead providers charge for their services?
They charge using a monthly subscription model or a pay per lead model.