According to 40% of sales people, prospecting is the most challenging part of the sales process. While you focus on generating and targeting small business loan leads for your MCA business, there are some common mistakes you need to avoid making.
Mistake #1: Inefficient Research
Research is non-negotiable, especially in lead generation and prospecting. Without it, you will not properly understand your prospects. While there is an array of lead generation and research tactics, there is a simple yet effective one. Do a quick social media search, such as a LinkedIn search, to find out about your business loan leads.
Mistake #2: Targeting the Wrong Leads
Successful prospecting depends on proper leads. Sadly, some MCA businesses don’t bother to do this. You should try to identify decision-makers and figure out whether they are a good fit. Rather than calling all the prospecting leads on your list, section them off based on the information you have. Then reach out to one section at a time and learn where you are becoming successful.
Mistake #3: Not Focusing on Pain Points
As an MCA business, it’s best to gauge your prospects’ pain points. This means you have to offer them a great funding solution that will add value to their business. Highlight the benefits and results of the services you’re offering without being obvious about them.
Mistake #4: Not Analyzing the Outcomes
Whenever you interact with a lead, you will need to step back and ask yourself: when does a prospect convert and how? This will allow you to determine which content holds the most value. Then you can do an A/B test on your MCA marketing strategies like cold calling and email marketing.
Mistake #5: Doing Too Much
Prospecting should be short and crisp. It should contain only vital information. So, respect your business loan leads as they have their own work to do. This means you must keep the prospect call short and only ask necessary questions to determine the next steps. This applies to emails and meetings too.