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What are Aged Business Funding Leads

Business funding is a universal demand, especially for small and medium enterprises (SMEs). As long as there are businesses operating, they will need financial support in the future. What makes the difference here is what option businesses choose for funding. For most small and medium businesses, MCA (merchant cash advance) is the best business funding solution.

In order to provide cash advance to needy businesses, MCA providers work on a marketing strategy and look out for the best and qualified leads. But generating quality leads is not an easy task for most MCA providers due to several reasons – poor market strategies, lack of resources or bad reputation etc. What factors help establish trust with clients?

On one hand, past good history of repayment responsibility speaks well of borrowers. What about existing business relationships? They are quite important for quality leads generation, because the more opportunities you have the better your chances of getting profitable MCA. What do we mean by “Aged” Business Funding Leads then?

Aged’ Business Funding Leads are simply old past business funding experiences that clients had under their belt before they get in touch with an MCA provider. The number of years since these original transactions is what makes them ‘aged’. While it’s natural for old customers to revert back to their suppliers, it’s also good business sense for providers to approach them too – especially when they’re in need of business funding again. However, not everyone will be willing to work with you; some might just use these years to their advantage by negotiating for a better deal.

Nevertheless, the idea of customer retention remains strong in business strategy, so you would want to approach them too. What are some other benefits of having aged business funding leads?

You can get higher MCA approval rates

By contacting old customers directly, you have an opportunity to follow up on past good history, so there’s no reason not to have them back. The chances are high that they’ll come back again if they’re impressed with your work last time around! What are some common mistakes in approaching ‘aged’ business funding lead generation?

What MCA providers do wrong when looking out for aged business funding lead generation strategies is be focused on gathering all possible information and leads and immediately jumping into action. What you should do, however, is take time to learn and understand your client first before jumping in with requests for aged business funding leads. What you need to find out is whether they’re still interested in doing business with you even after all these years. Once this crucial aspect is settled, it’s down to the numbers game – are their needs for cash advance matching your MCA terms? What are some other factors that one must consider when looking out for aged business funding lead generation?

You’ll have higher chances of successful aged business funding lead generation if there’s a strong possibility of existing customers being loyal to you over the years. This means that maintaining strong relationships with them would increase your chances at successfully re-establishing your business ties with them and providing them loans. What are some aged business funding lead generation tips for providers?

Some MCA providers use the power of referrals to find their old clients and gather as many leads as they can. What you need to do, however, is prioritize those that have good potentials – those that meet all your criteria such as amount of loan needed, duration etc. What other tactics do some MCA providers use in aged business funding lead generation strategies?

Other than offering their services to new prospects and having a marketing plan aimed at getting in touch with previous clients, what you could also consider doing is holding small seminars targeted at previous customers or even speaking engagements in events you think you’ll get the opportunity to approach your old customers. What are some other tactics that providers employ in aged business funding lead generation?

What you should bear in mind here is that successful aged business funding lead generation requires a detailed plan, along with patience and flexibility to adapt strategies as the need arises. What are some of the most common factors to consider when generating aged business funding leads?

Before getting out there for this exercise, make sure you have everything ready including your marketing strategy. What’s more, these efforts demand time and energy so if you don’t have enough resources or manpower, perhaps it’s best not to do it right now – but only after reassessing the demand factor first.