Merchant Cash Advance Live Transfers
Generating leads today comes in various kinds and processes. Leads are essential tools to secure more customers and clients within your target market. Furthermore, the merchant cash advance industry today continues to grow. As the demand for immediate funding grows comes the increase in the number of MCA lenders. However, it can be challenging to get better leads today. Hence, most lenders tap experts and professionals to secure leads, such as live transfers.
What is a live transfer?
Choosing merchant cash advance live transfers allows you to connect directly to exclusive leads looking for funding options. Given the immediate conversions, these leads are more expensive than those traditional ones. In some cases, some MCA lenders find live transfers worth the investment. Maximizing live transfers can save time and increase the possibilities of signing businesses. Working with MasterMCA will help your business improve the number of companies you can fund. Additionally, MasterMCA conducts real-time exclusive lead generation you will have no difficulty in connecting with.
How do live transfers work?
Live transfers involve connecting merchants to funding managers or lenders over the same call. The transfer only happens after a qualification process with proper consent. Lead generators typically play the liaison role during live transfers. In general, live transfer leads are pre-qualified, exclusive, and ready to do business immediately. In some cases, the industry also calls them warm leads since merchants are put on-hold real-time while getting MCA funding as live transfers are processed. It is a step-by-step process that starts from the telemarketing representative until the call reaches the closer.
Merchant cash advance live transfers vs. Aged leads
Live transfer leads generally arrive in minutes after merchant prospects fill out a form or questionnaire expressing their intent to get an MCA funding. In most cases, live transfer leads are pre-qualified, ensuring that they fit the MCA products you provide. Also, you do not need to call these leads as the leads will be the ones calling you. With merchant cash advance live transfers, you know that the leads are new and fresh and have qualified interest in getting quick funding.
On the other hand, aged leads refer to those who are about several weeks or a few months old. There is a lower guarantee that other lenders have not yet pursued these leads when you contact them.
How to maximize live call transfers
Live transfers themselves are already effective. However, you may want to make the most of every live transfer lead for the best outcome. See the list below to know more.
- Specify your lead criteria. With thousands of leads in the industry, it’s tiring to shift from one lead type to another. Hence it would be best to choose the leads your company wants to receive carefully. Streamline your leads by focusing on various factors, including geographic locations, the best time to receive transfer leads, and the MCA options you opt to offer.
- Avoid being too aggressive. Remember to avoid overselling your offers to leads. As they are already pre-qualified and consented to get funding from you, making high-pressure sales approaches is not necessary. You have to make the conversation flow naturally.
- Know your products and offers. It always comes with the job to master MCA options and other offers to convince businesses to use your funding. As previously mentioned, leads are pre-screened according to the lender’s specifications. However, instances will happen when leads might ask for other MCA offers during the process. Thus, it can always be beneficial to be prepared.
- Conduct follow-ups. As effective as merchant cash advance live transfers are, every call may not immediately result in sales. You might encounter leads that need to think over the MCA options you offered. Hence you need to book a follow-up meeting before ending the call. Appointments can be through phone, virtual, or in-person. Consider the customer’s meeting preference where they are most comfortable.
There is more to merchant cash advance live transfers than providing exclusive information on merchant prospects. Here are some of them.
- Time-efficient. Instead of several hours searching for leads, merchant cash advance live transfers connect you to leads immediately. They ensure that a lead will be available and ready to speak with you. This way, you will not have to waste time sending emails, doing phone tags, or chasing leads. You surely can save time, which means having more time to converse with more leads and eventually close several leads.
- Conducts an efficient sales process. Lenders using live transfers do not have to worry about rushed procedures. Additionally, you need not be too aggressive, which can turn off merchant prospects. Since lead generators will handle almost half of the sales process, it will ensure a seamless process with a more considerable conversion rate. You can instead focus on closing the deal through a smooth purchase process.
- No missed leads. Reaching out to leads can be taxing as some might fail to respond to messages and phone calls going straight to voicemails. However, that is not the case for live transfer leads. Lenders can talk to every prospect transferred to them. It saves time having to continuously call back the same leads only to leave voicemails again.
- Better sales conversion. In most cases, merchants will reach out to live agents in the sales process as they are considering making final purchases. The live transfer leads are looking to buy MCA funding from lenders, ensuring actual sales and better conversions.
- Reduces costs on customer acquisition. Marketing initiatives like email campaigns, cold calling, and digital and direct advertising can be expensive. More than the money, lenders also have to invest time and other resources to secure leads without the actual count of how much prospects will convert into sales. Live transfers ensure validated prospects in purchasing MCA. Furthermore, these leads call you during the time of their interest, which shortens the customer acquisition procedure.
- Set your preferred schedule. It is not always that you are available to receive live transfer calls. When you choose live transfers, you can select the schedule that fits the best time for you to close deals efficiently.
- Create a well-prepared sales pitch. When doing cold calls or responding to internet leads, you will only have a few ideas on what ground you must cover. A lot of time and energy will be exerted to convince merchant prospects. With a live transfer lead, lenders are already past the getting-to-know-the-merchant stage. Since the lead intends to get funding, you can immediately proceed to present your offers and close the sale.
- No need to pay for bad leads. Not all leads can guarantee a sale. In the process, merchants can change their minds about getting funding. The best live transfer providers conduct a pre-qualification process to assess whether the leads have an actual intent of getting MCA funding. If they are not good fits, lenders will not have to pay for them as they are not on the line yet.
- Lesser focus on marketing initiatives. With a relatively higher sales ratio from live transfer leads, lenders can build more long-term merchants pleased with the MCA funding services. A consistent sales conversion from live transfers allows companies to reduce generating leads and marketing efforts. Instead, they can focus on building relationships among merchants. Along the way, these merchants might refer other business partners within their industries.
- 100% contact rates. Lenders using live call transfers can ensure that a live merchant will always be on the end of the line, ready to discuss funding options. Cold calling cannot assure someone will answer your call. You can remove the uncertainty in the sales process with live transfer leads. This allows a higher chance of conversions.
- Better return on investment (ROI). You will not have to spend more on getting leads since you receive pre-qualified calls and verified interest in getting an MCA funding. In most cases, these leads already guarantee sales conversion as they get through you. Investing less means higher profitability for your merchant cash advance business.
Live call transfer process
MCA live transfers involve different people before the leads get through the lender. This is to ensure that every lead guarantees conversion. Additionally, it will also mean providers perform a thorough process to ensure its quality. Each provider may have its own process; however, here is an example of how they do it.
- The call center agents filter the MCA leads from their database.
- Once streamlined, the agents then make outbound calls to these leads. They are basically merchants who expressed their intent to get MCA funding.
- The agent then evaluates whether they qualify for the specific lender’s MCA funding. If they pass the pre-qualification process and the agent finds them fit for the financing, merchants will shortly be put on hold.
- Another agent representing the lender will then handle the call for further discussions and validations. In some cases, lenders themselves will be the ones to take the call and close the deal.
- There will be instances where it will be a three-way call among the lead provider, merchant, and lender. However, there is also somewhere the lead provider ends the call once they transfer it to the lender.
Best practices to source the highest quality of live transfer leads
- Before leads get into the live transfer process, providers have to ensure to streamline them to fit the desired leads of lenders.
- Well-trained and equipped call center agents are also vital in getting quality leads. They must be familiar with the scripting, necessary questions, and scenarios. These elements are critical in evaluating the quality of every merchant.
- There also has to be a healthy working environment. In most cases, this factor is critical since the environment can also affect how agents will perform during calls. As you may know, the call must begin on the right foot. Otherwise, it will end up being a failure. Besides being familiar with the various questions and scenarios, agents all need a little personality, care, and passion. With these, they establish the appropriate tone for every MCA lead call.
Where can one get MCA live transfer leads?
There are various ways of securing live transfer leads. However, the most effective and recommended is going for a trusted lead generation provider. MCA lenders who look to increase their sales immediately must seek help from MCA lead providers. Lead generators like MasterMCA ensure quality leads as lenders need them.
How to choose a reliable provider?
You can measure the quality of their leads and assess their experience in the industry and professionalism. It can also be beneficial to shop for more merchant cash advance lead providers before committing to one. Furthermore, a reliable provider may also depend on your needs and preferences. So ensure that you identify the essential needs before streamlining your options.
Why are conversion rates better when it comes to live transfers?
In most cases, leads prefer those lenders who reach out and respond to them first. Qualifying a lead is also very high when lead providers or lenders reach out to them in five minutes. Since live transfers are performed and converted within one call, there is a higher probability of closing the deal within that call, which results in higher conversions.
Is live transfer leads the best option for MCA lenders?
In most cases, yes. However, it will all boil down to what lenders want for their businesses. Every merchant cash advance lender has its own unique and distinct funding options and offers. They will assess what type of MCA leads they wish to get to increase their sales.
Why are live transfer leads more expensive?
Lead generators impose a higher price for live transfer leads because of the lead’s efficiency in generating sales. These leads can give lenders immediate conversion in just one call, unlike other types of leads where they have to find, call, and chase merchants who look for MCA funding.