The most reliable and consistent sign of a thriving business is a solid flow of loan leads. But how does your business generate loan leads, and what lead generation strategies should you be using? Today’s post looks at the various ways to generate business loan leads, and goes into detail about those strategies so you can choose which are right for you.
Automated business loan leads have proven to be the most effective means that provide a consistent flow of qualified business loan leads for businesses in the marketplace. Business owners who want to raise capital through a loan or line of credit or any other kind of money from a financial institution, are tired of receiving spammy and irrelevant business loan leads, duplicate business loan leads and simply looking for an easier way to reach out to potential providers of business loans, can benefit from using automated leads.
Being able to generate your own business loan leads is crucial to being successful in your small business venture. You don’t have to depend on expensive lead generation services or chance getting a list of leads that may or may not be qualified. Generating your own business loan leads is easy if you have an effective system and can take advantage of the growth opportunities that are present in today’s economy allowing you to grow your business.
Generating Leads is the most challenging part of any Business whether it is Leads for Restaurants or even Business Loan Leads. But to bring customers to a restaurant is a thousand times easier than bringing Merchants to an Alternative Lending Company. As most of the ISOs or Alternative Lending Companies run their Operations online, clients those who need a Business Loan are required to find the best Private Lending Company Online which will fit his needs. But because of the highly competitive market, it’s quite impossible to for 70% of the private lending companies to be visible on Top of Google or any other search engine online.
There are many companies that offer free leads for business loans but you have to be careful when signing up at these websites. You have to protect yourself from being scammed. By contacting a reliable company, you will not only get free business loan leads but also save yourself from getting scammed or even worse, risking your company’s credit score!
How To Generate Loan Leads Website Design
The first thing about creating a website is that it should generate leads. What does this mean? Are you generating leads if you have a phone number on your website? Are you generating leads if you have your email address in the footer of your website? Is that good enough to generate business loan leads? Your website should have your phone number and email on every page of your website. It should be easy to locate. Once you’ve peeked someone’s interest they can connect with you. But that’s not enough.
Here are some tips to help you find the best ways or methods to generate Business Loan Leads–
1. Identify Your Target Market-
As this is a huge industry and the target market is massive, its a must to limit the target audience to Generate Top Quality Business Loan Leads. Its always better to start with one niche loan service for a Small ISO. You will have to decide whether you want to stick to Traditional Merchant Cash Advance or any other type of term loans. Traditional Merchant Cash Advance is better for startup ISOs to make instant ROI as it pays better. Though comparing with term loans it’s a bit tough to get Merchant Cash Advance Leads but as it pays good, it should be the first priority for any new ISO. For term loans, as these are flexible loan programs with long term payback with the better interest rate, this is what most of the Merchants look for. But the approval rate for term loans is way too lower than Merchant Cash Advance.
2. Find the Best Marketing Method-
There are a couple of types of Marketing Methods available for generating Business Loan Leads-
- Google Adwords
- Search Engine Optimization
- Social Media Marketing
- Email Marketing
- Ringless Voicemail
- Press – 1 Campaign
- Cold Calling / Telemarketing
How do they work?
- Google Adwords:Google Adwords is one of the most popular Leads Generating Methods. But to generate Business Loan Leads, Google Adwords is a bit competitive and expensive.
These pictures show the monthly search volume on certain keywords, Cost Per Click and Competition out of 1 where 1 is extremely competitive and 0 is no competition. - Search Engine Optimization:
Search Engine Optimization (SEO) would be the most effective and long term marketing method if the competition was less. SEO helps you to bring your Landing Pages or Websites on the top or first page of google. As a result, if somebody searches with certain keywords they will see your website or landing pages on top. But with this competitive market, it’s quite impossible to stay on the first page on google on Business Loan related keywords. The first page is already occupied by industry leaders. - Social Media Marketing:
Social Media Marketing includes marketing through Facebook, Instagram, LinkedIn, Reddit, Twitter, Pinterest, etc. SMM generates effective results to generate Business Loan Leads. Though its a bit costly but it works a lot better than SEO and Google Adwords. It also has a competition issue but it still is not that competitive yet. - Email Marketing:
Email Marketing is one of the best & cost-effective marketing methods. But to get great ROI of it, you need to find the best email list and email marketing tools. A great email marketing script can help you generate a lot of Business Loan Leads. It requires less hassle and less investment. But you definitely need a professional to build you a great email marketing campaign.
- Ringless Voicemail:
Ringless voicemail, also called a voicemail drop, is a method in which a pre-recorded audio message is placed in a voicemail inbox without the associated telephone ringing first. This practice is commonly associated with spamming and debt collection services. (Ref.: Wikipedia) - Press 1 Campaign:
Press 1 Campaign is also known as Voice Broadcasting. It broadcasts a pre-recorded message including an Interactive Voice Response (IVR). Ex. It broadcast a message saying, “This is Brandon from ABC Capital. If you are looking for working capital for your business, press 1. Or else press 2 to put your number on DNC list”. As soon as someone press 1, it connects to your phone or your live agent.
Learn More - Cold Calling & Telemarketing:
Out of all these Marketing Methods, Telemarketing or Cold Calling is the most cost-effective and popular lead generation method to generate Business Loan Leads. BLLeads.com has a team of highly experienced Telemarketers those who are doing lead generation for business loans for years. They have been cold calling US-based Merchants and seeking for their interest in Business Loans. If they show their interest in Business Loans, they go ahead and qualify the merchants for the type of business loan which will fit his business. Once a merchant is qualified, the Caller or Telemarketer Transfer or Schedule a Call Back for the closer with their proper consent. BL Leads only charges for Qualified Live Transfers, which means you are not going to pay any single penny for any bad lead which doesn’t qualify. That’s how Cold Calling & Telemarketing has become the most cost-effective Business Loan Leads Generations Method.
WAYS TO GENERATE LEADS FOR BUSINESS LOAN
Admittedly, generating leads is the most challenging part of any form of business, whether for cloth selling or business loan.
It is even easier to get customers for cloth than bringing merchants for business loan.
Therefore, if you, as the owner of a lending company, have ever asked for ways to effectively generate leads for your business loan.
Here is the definitive guide to generating those leads.
Interest rates
It is evident that interest rates determine the response of prospective borrowers to loan. Also, it is an effective way to generate leads for business loans. Thus, try to make a loan of lower interest rate available for low-class earners or small business owners.
As a result, more customers will patronize you.
Have a target market
This is another key to generating business loan leads. As this is a big industry, and the market is massive.
It is always better to limit your focus on specific clients in order to generate top quality business loan leads.
To clarify, you may stick to Traditional Merchants Cash Advance or other types of term loans.
It is a fact that merchants look for flexible loan programs with long-term payback, including better interest rate.
Identify the right audience
After having a target market, ensure that you locate the right audience that needs business loans.
Facebook, LinkedIn and Google are good platforms to research in order to find the audience that you can market to.
Use the best marketing method
There are a good number of marketing methods available for generating business loan leads
Here is the list of them.
Google Ad words
It is one of the most popular leads generating methods. It involves Search Engine Optimization (SEO) which can help you to bring your landing pages or website on the top or first page of Google. Thus, create a content around your business concept.
Social Media Marketing
This is an effective tool to generate business loan leads. In particular, it includes marketing your business loan through Facebook, Instagram, LinkedIn, Twitter, Pinterest, etc. Have your business page on them.
Email Marketing
In most cases, a great email marketing script can generate a lot of business loan leads for you. It is a cost-effective marketing method. However, to really enjoy its good result, you need to find the best email list and email marketing tools.
Press 1 Campaign
It broadcasts a pre-recorded message. To illustrate this, it broadcasts a message saying, “This is Curvex from XYZ Capitol. If you need a working capital for your business, press 1. Or press 2 to put your number on DNC list. And as soon as someone presses 1, it connects to your phone or your agent.
Problem Solving
Do not join those lenders that brag about how much money they can get a business or how fast they are able to process a loan.
Rather, concentrate on solving borrower’s problems of various kinds.
Focus Your Website
You need to simply make the website about your customers and not about yourself.
Let the website be about how you will serve the customers and how you can solve their problems.
Tribe Methodology
It is true that tribe mentality works, perhaps too well. This implies that people are willing to do business with others who are like them.
For example, a shoes selling shop will desire to work with the shoes financing expert rather than a commercial bank.
Therefore, use this to your advantage as you pick your target market, and also when creating your business content.
CONCLUSION
Do you feel like a tiny business, which is usually small and local, have it rough when it comes to getting a loan or other types of financing? Is it hard to get a business loan? Well yes, there are probably a lot of people who apply for loans who do not ever get approved. There are also a lot of businesses that never apply for financing.
A lot of entrepreneurs and small business owners wonder if it’s possible to get business loan leads without having to spend a dime on them. The truth is yes, you can, but the caveat is that they won´t be 100% free since it requires you to use your own lead generation efforts and still make the sales presentations yourself. You are actually saving money by eliminating your need to pay for expensive advertising and marketing campaigns.”