[mcg168]

Question for the forum....which lead generation companies out there are the most credible? Looking for the equivalent of the CAN, On Deck, BFS type companies versus the stacking, c,d-paper companies.

All of my experience with lead generation companies are the following....get lead sent to you, call lead, have merchant complain that their phone is ringing every 5 minutes and i'm the 15th company whose called him, then he proceeds to tell me he hasnt even started his company yet.

Appreciate any help

[Lenders.Marketing]

There is only one way to get good, consistent, exclusive leads...

Generate them yourself.

[mcg168]

There is only one way to get good, consistent, exclusive leads...

Generate them yourself.

Doesnt your company do lead generation?? Are you saying that using your company is not the best way to get good, consistent, exclusive leads??

[Lenders.Marketing]

We do not do lead generation. We provide insights into Business Owners seeking or being denied Business Credit through our Business Loan Triggers.

When you make the calls or send the mailers yourself you are generating your own leads which ensures you are getting exclusive, good, consistent leads which is what you said you are looking for in your original post.

[joelR]

try merchantcashleads.com

[Chambo]

Question for the forum....which lead generation companies out there are the most credible? Looking for the equivalent of the CAN, On Deck, BFS type companies versus the stacking, c,d-paper companies.

All of my experience with lead generation companies are the following....get lead sent to you, call lead, have merchant complain that their phone is ringing every 5 minutes and i'm the 15th company whose called him, then he proceeds to tell me he hasnt even started his company yet.

Appreciate any help

This still boggles my cranium....

If I am generating and/or purchasing good quality A or B paper leads...why in God's name would I want to share that info with you?

[jotucker1983]

This still boggles my cranium....

If I am generating and/or purchasing good quality A or B paper leads...why in God's name would I want to share that info with you?

Lol, right, just like I don't get how a company generating A or B paper leads would sell them for $20. Those companies use the "canned response" that they don't get involved on that side of the business, but then they turn around and say they have telephone verified the leads.

Well, if you have verified the leads by telephone, the only thing left to do is have them fill out an app, grab statements, and forward that onto your lender. 95% of the work is already done if you have generated a lead that's both interested and passes pre-qualification.

It's why I don't now, haven't ever and will never buy "leads". I will buy data, which is just business intelligence that I use internally to generate my own "leads". But I will never buy a lead from someone because either the lead isn't really a lead but just "data," or if it's actually a quality lead and you are selling it to me for $20, then I'm questioning your business acumen.

[Rob Buchanan]

joelR doing work...

[mcg168]

This still boggles my cranium....

If I am generating and/or purchasing good quality A or B paper leads...why in God's name would I want to share that info with you?

I agree with you 100%, but when I posted this back in January we had some new employees and was trying something new to add some prospects to their pipeline. I figured after all the posts i've seen on this message board about people selling leads, I was simply exploring the possibility. Before I looked into it, I was pretty certain the leads being sold were absolute garbage, and after my brief (2-3 days) trial it only reassured my initial thoughts. I don't see how anyone can make it in this industry if they are solely relying on lead generation companies. The leads being sold certainly aren't qualified let alone interested in our products, and they are being stalked by 10 other brokers. Lesson learned I suppose

[Chambo]

I agree with you 100%, but when I posted this back in January we had some new employees and was trying something new to add some prospects to their pipeline. I figured after all the posts i've seen on this message board about people selling leads, I was simply exploring the possibility. Before I looked into it, I was pretty certain the leads being sold were absolute garbage, and after my brief (2-3 days) trial it only reassured my initial thoughts. I don't see how anyone can make it in this industry if they are solely relying on lead generation companies. The leads being sold certainly aren't qualified let alone interested in our products, and they are being stalked by 10 other brokers. Lesson learned I suppose

Yeah, sure, OK....but if I have a great source...and I am in competition with you, why on this Green Earth would I ever, EVER share that info with you?

Go out and get your own leads, learn through trial and error...

[MCNetwork]

As my momma would say..."closed mouths don't get fed!" You might as well ask and see what happens...

[mcg168]

Yeah, sure, OK....but if I have a great source...and I am in competition with you, why on this Green Earth would I ever, EVER share that info with you?

Go out and get your own leads, learn through trial and error...

Thanks for the pep talk dad. are there any other posts for 3 months ago that are boggling your mind and need to be addressed?? I need to get my post count up to over 1,000

[fundgorilla]

I get all my best leads from the garbage can behind ONDK!

[WhoisKingsley]

You guys are hilarious. I am curious... all of you are in competition with eachother, do you all do the same thing the same way? Everyone runs their businesses differently... are you competing because you are both brokers? lenders?

[jotucker1983]

You guys are hilarious. I am curious... all of you are in competition with eachother, do you all do the same thing the same way? Everyone runs their businesses differently... are you competing because you are both brokers? lenders?

While I can't speak for anybody other than myself personally, I believe that the means of success in this industry comes down to the ability to create your own formula of producing consistent quality leads. You should be able to produce consistent quality leads to always have a ton of people left to call (that you run out of time to call), you always have a ton of people in your pipeline that you are awaiting documentation on, and you always have a ton of people in your underwriting/renewal pipeline.

Doing this involves sales "talent," but I believe it mainly comes down to science, business intelligence, business acumen, market research, and trial/error.

From doing this over time you develop a formula, that formula then allows you to determine an ROI for your office, where if you invest let's say $25,000 this year in marketing and operations, that turns into $200,000 in revenue over the course of 24 months in the form of new deals, renewal deals, processing deals, value-add deals, and free referrals that then turn into deals. That's a 700% return over two years by the way, which is why I tell people that the best investment you can make is in a business that you manage well. No Stock or Bond investment will ever produce returns like that and unlike those investments, you have direct control over the business.

So with that being said, when someone comes on this Forum and asks, "Can you guys tell me how you produce quality leads?" In a nutshell, they are asking other professionals on here that have spent time, energy, money, etc. in developing their formulas to share it for free, which is an insult. On top of sharing it for free, it also directly eats into the profits of said professional because you have just created your competition by telling them how to generate the same leads that you do.

If people want to come into this industry and succeed, they can review the amount of free articles, discussion and research already out there across Google. But they have to go out and do their own trial/error, formulate their own formulas, etc. to create a successful office.

[mcg168]

So with that being said, when someone comes on this Forum and asks, "Can you guys tell me how you produce quality leads?" In a nutshell, they are asking other professionals on here that have spent time, energy, money, etc. in developing their formulas to share it for free, which is an insult. On top of sharing it for free, it also directly eats into the profits of said professional because you have just created your competition by telling them how to generate the same leads that you do.

If people want to come into this industry and succeed, they can review the amount of free articles, discussion and research already out there across Google. But they have to go out and do their own trial/error, formulate their own formulas, etc. to create a successful office.

Just to clarify - the original post didnt ask how people produce quality leads, it was asking the forums opinion about lead generation companies and if anyone has had success with them. Being that there are many of these companies who come on here and post themselves, I figured I'd see what people had to say.

I've been in this industry for over 10 years and everything you said above is spot on and obviously any sales process is trial and error...The trial part in this case was asking for peoples opinions on this type of marketing.