Since COVID-19 much of the MCA Industry has gone to a live lead or full package model. With recent restrictions on texting many teams are exploring live leads. There are brokers that only use live leads and fund millions of dollars by using this product. These leads are not for everyone. You should consider a few things before investing in live leads to see if they are best for you.
Competition
When purchasing live leads, you must expect that these merchants are in the market, and you will not be the only one contacting them. You may see competition on offers. Many brokers hear the term live lead and expect the merchant to be waiting for their call. If you are not prepared to compete with other brokers, these leads probably are not for you.
Technology
With increased competition, it has become more difficult to contact merchants. This can be frustrating for some brokers as they typically pay a higher cost for these types of leads. Make sure your technology allows you to call the merchant from his exchange. You should have technologies such as SMS Marketing emailing, and ringless voicemail, it will allow you several options to contact the merchant. By implementing all four of these, you give yourself the opportunity to reach the merchant ahead of your competition.
Lender Relationships
Make sure you have strong lender relationships that will enable you to bring competitive offers to the merchants. There is no use in paying a premium for Leads if you do not have a competitive product to bring the merchants
Professional Sales Organization
When you are paying a premium for these types of leads, you’re going to want your sales agents to be able to handle all objections that would be provided by the merchants. There is no sense in buying fresh high-quality leads from merchants who are looking for Capital if your sales team cannot properly sell the product. Sales teams need to be able to handle objections such as I don’t want daily payments, the money is too expensive, and I’m getting too many calls from brokers.
If you were unable to cover these four points, I would suggest that you not explore the live lead option. However, if you’re able to confidently put all these factors in place, live leads can be a powerful supplement to your marketing campaign.