Financing Leads for Hassle-Free Merchant Cash Advance
MCA leads are the lifeline of MCA businesses across the globe because without them your revenue will eventually dry up. But there’s a problem – business leads are not easy to generate. In order to gather them, you need to have a strong merchant cash advance marketing strategy in place, which will help you understand how to retain leads until you can convert them into funded merchants.
As an MCA provider, it is important that you decide on what sort of financing options you want to offer potential clients before communicating with them. After all, if your financing program doesn’t fit their needs or expectations, they may never turn into actual clients even after investing time and effort trying to convince them for months on end.
There are three different types of financing options that you can offer your clients:
#1 Cash Loans – Offering cash loans allows merchants to finance their daily operations, but they will need to repay the loan and its interest fee over a specific period. If they fail to do so on time, they could lose their business and put their livelihood at risk. This means that it’s important that you clearly state what happens in case of missed or late payments before getting started with this option. Be aware, however, that offering cash loans is often more difficult than working with other options because not all MCA providers allow them. Therefore, if you choose this route, be prepared for low conversion rates and a noticeable decline in revenue.
#2 Asset-based Loans – This financing option offers merchants a larger amount of money for a shorter period, which they can use to make major purchases, such as vehicles or equipment. On the other hand, it can be quite complicated to set up because you will need signed documentation from your clients before the funding starts pouring in. In addition, MCA providers usually offer repayment options lasting between two and five years compared to 12 months with cash loans.
#3 Invoice Factoring – If you decide on invoice factoring as your main offering, realize that it is likely to bring higher conversion rates than cash loans or asset-based loans but lower than merchant cash advances in general in most cases.
As the competition is becoming fiercer in most industries, including MCA,, and the customer’s demands for personalized funding are also increasing, many businesses can’t manage the process of lead generation anymore. They want to remain competitive in their marketplace but don’t know how to keep the business running while targeting and acquiring fresh, quality leads. You may not know how to get them through a process of qualifying, scoring, and nurturing, after which you can turn them into paying customers. That’s when you need a lead generation professional who will help your business grow with his expert wizardry.
Business Lead Generation Done The Right Way So what exactly do I mean by “done the right way?” Most people in charge of generating leads for marketing teams aren’t qualified enough to give you the results you want. As a matter of fact, 6 out of 10 people working in marketing are doing it wrong.
What makes me qualified is the fact that I’ve helped over 100 businesses get more leads by mastering the art of lead generation and nurturing them into paying customers (while some became my clients). I’ve even written an e-book on how to generate leads for free! Plus, I always follow up with my potential and current clients to make sure they’re getting the most value for their money.
You want to keep your sales pipeline full and start generating MCA leads without dealing with nerve-racking merchant cash advance advertising. Count on an experienced lead generation professional like Merchant Financing Leads.
Let us show you some of the most notable benefits of a professional lead generation service:
You’re guaranteed to get more high-quality leads than ever before! Not only will we present your business in front of solid prospects, but we’ll also filter out inappropriate businesses that are likely not to become your clients anyway. We have worked with various marketing agencies that spent thousands of dollars on paid ad campaigns just to find this out after they saw declining sales figures month after month.