Tag: Email Marketing

Cold Calling vs. Email Marketing: Which Works Better for Small Business Loan Leads?

Two methods often stand out when generating small business loan leads: cold calling and email marketing. Both have strengths, but which works better for driving small business loan applications? The answer isn’t black and white—it depends on your approach, audience, and goals.

Let’s break down both strategies to understand which might be the best fit for your MCA lead generation efforts.

Cold Calling: Direct Engagement
Cold calling is still a popular way to generate small business loan leads. It opens the door to real-time discussions that email doesn’t always inspire. But before you put all our hopes in it, perhaps you should consider its strengths and limitations.

  • Immediate Interaction: Talking to prospects in real-time provides instant feedback and the ability to answer any questions. This direct strategy can result in faster qualifying of small business loan applications. However, it requires skilled personnel to handle conversations effectively.
  • Personal Touch: A phone conversation can build rapport faster than digital methods, potentially leading to higher conversion rates for small business loan leads. Yet, this method can be time-consuming and not scalable for larger campaigns. It’s essential to balance personalization with efficiency.
  • Potential Intrusiveness: An unwelcome call can be seen as intrusive, and may terminate adversely or abruptly. This can impact your brand’s reputation and overall campaign performance. However, some challenges can be minimized with good training and scripting.

Email Marketing: Scalable Outreach
Email marketing makes it simple for you to connect with new clients in a more structured, methodical way. It’s particularly beneficial for businesses that want to help small business loan leads grow without spending too much. Of course, results depend on how well you craft and deliver your message.

  • Cost-Effective: Sending emails incurs minimal costs, especially when dealing with vast volumes of lists. This makes it an excellent choice for any business looking to find small business loan leads without spending much time and money. However, the effectiveness depends on the quality of your email list and content.
  • Scalability: Auto campaigns can potentially engage thousands of fresh leads at once. This scalability is convenient when promoting small business loan applications to scale. However, personalization plays a crucial role in preventing the use of general messaging that gets ignored.
  • Non-Intrusive: The recipient can read and respond at leisure, minimizing inconvenience. This strategy prioritizes the prospect’s time and may lead to increased engagement. But to stand out in a crowded inbox, use engaging subject lines and valuable content.

Which One Should You Choose?
The best method is usually a combination of both. Cold calling focuses on instant conversions, whereas email marketing nurtures prospects gradually. However, there are ways to combine them effectively:

  • Begin with an Email: Introduce the financing options you plan to offer and create awareness. An appropriately timed email can warm up the leads before you call. Such an approach only makes a favorable impression.
  • Follow Up with a Call: Call the ones who opened or clicked your email. They’ve already expressed interest and are more likely to talk to you. This multi-step method increases conversion rates.
  • Use Retargeting: If a lead does not respond, send them follow-up emails. Regular touchpoints guarantee that customers remember your proposition when the time is perfect.

There’s no one-size-fits-all answer. Only by testing both methods will you find the right balance for generating small business loan leads and increasing small business loan applications. If you want to invest in qualified leads, contact us today!

MCA Marketing: Tips to Build a Quality Email Marketing Campaign

More than ever, small businesses are relying on alternative funding options like merchant cash advances. For start-ups, these funding solutions are a lifeline for sustaining their growth through challenging times like the COVID-19 pandemic. As the competition is intense among alternative funders, the need to generate high-quality business loan leads with accurate data has become more crucial than ever.

When you are in the MCA industry, striving hard to generate leads, there is nothing more valuable than an effective email list full of interested prospects. Although many people believe that the age of the spam filter has defamed email marketing, the fact is, if you could build a list of businesses who want to receive your emails, you would be able to avoid spam filters.

The following tips will help you build a quality email marketing campaign for your MCA marketing endeavour.

  • Try to Craft More Compelling Offers

We’ll start off with the most important element you need to boost your lead generation efforts and make your offers more appealing. We advise you to tweak button colors and improve your conversion rate. Focus on what you’re offering in exchange for your prospect’s email address.

  • Make it Easy to Enter the Email Address

The simpler your opt-in form, the more likely prospects are going to subscribe. You can remove the name field to grow your email list faster. Consider removing everything from the form except the email address. Every decision you take must make the form simpler and include fewer steps between.

  • Encourage Prospects to Forward Newsletters

When you encourage your subscribers to forward an email, you should have a few things in place. For instance, make sure there is a way for new people to sign up. Also, ask your loyal customers to forward the email to like-minded prospects.

  • Give Your Website Visitors More Content Control

Part of your email lists is to make sure people don’t feel uninterested and don’t unsubscribe. If they can’t keep up with all the emails you’re sending, you shouldn’t force them to unsubscribe. Instead, offer them a light subscription with some different plans. For instance, you can offer a standard subscription with a few emails in a single week. The idea is to keep them on your list and help them engage with the content.

If you want to start generating great results and boost your funding business, you can reap the benefits of our high-quality business loan leads that include fresh and updated data. At Merchant Financing Leads, we focus on providing fresh lists of leads that are high in quality and fair in price. We will take the burden of email marketing off your shoulders and help you grow your funding business.

Talk to us to receive high-quality merchant leads.