[FUNd]

As I mentioned before in an earlier post most successful clients in the B2B Loan space are calling of course. If your Marketing budgets are tight then the next common step is to email. Then reinvesting the profits from your calls and emails into your direct mail campaign.

Everyone is attracted to email because it is viewed as inexpensive and easy. True, it is easy to send an email and you don't have to pay postage but you will need a Email broadcasting company that will send your emails out for you and good Business Owner email addresses. Then you need to set up a reoccurring email campaign that has fresh and engaging content.

With Direct Mail, again you need a good mailing list (deliverable, accurate, targeted Business Owners in need of Financial assistance) and a good mail piece. The over-sized full color postcards are simple, effective and relatively inexpensive.

The rule of thumb for response rate is anything over a 1% response rate is considered a job well done.

I hope this helped and best of luck out there.

What do you mean the "most successful clients in the B2B Loan space are calling of course"? Do you mean telemarketing? I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

[MCNetwork]

I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

Lol great post! Cold calling only works if you do it in large scale and don't mind having an ever revolving door of telemarketing reps.

[FUNd]

Yep. Merchants are pounded by telemarketers peddling business capital like nails at a habitat for humanity event. It's pathetic. If you're not a creative type with deep pockets or doing something illegal, you're probably not making much as an ISO. The space is becoming as populated as merchant processing. Ever make cold calls trying to sell that product?? You are ready to Robin Williams yourself after a few hours...(too soon?)...

[Lenders.Marketing]

What do you mean the "most successful clients in the B2B Loan space are calling of course"? Do you mean telemarketing? I have been experimenting with end user cold-calling and have funded a couple deals from that method, but it's tedious and soul crushing work. Not by any means worth the return on investment of my time and self-respect.

Phones have the highest response rates. The best way to utilize them is to have a mechanism (i.e. dialer, hot transfer, voice-mail broadcast, telemarketing company, etc.) in place to pick all the low hanging fruit.

You can always dial by hand but it is not efficient.

[JSL23]

Phones have the highest response rates. The best way to utilize them is to have a mechanism (i.e. dialer, hot transfer, voice-mail broadcast, telemarketing company, etc.) in place to pick all the low hanging fruit.

You can always dial by hand but it is not efficient.

Wow, way too soon on the Robin Williams joke!. Yes, inbound-dialer/hot transfer is a pretty efficient way to get the "low hanging fruit", no doubt. With that said, I am still not anti-cold call. I just think that now, in the information age and the industry getting over saturated you have to be a bit more strategic with how you approach it. Take 30 seconds to Google the person you call and maybe copy/paste something about them/their company in your CRM, first of all. If you come prepared that Cold Call gets just a little bit warmer. The days of making 300 dials by yourself without knowing anything about the person you are trying to reach died in the late 90s.

Instead of using the same exact lines every other ISO/Account Executive does, try to engage the person a bit more. Don't start with "Do you need working capital?" because the next thing you will usually hear is a click. Example: you're calling someone in Construction. Maybe start with something like" I've helped Construction companies who specialize in ______ get $_____ this year. If I was able to get you anywhere from 50%-150% of your gross, how would you use it?" OR "How many more projects would you be able to take on with an infusion of capital?" Something that can potentially engage them and IS NOT a (dumb) yes or no question. Yes, it is still a numbers game and you will deal with plenty of rejection, but if you can separate yourself, just a bit it can and does work.

Nowadays CC alone probably won't do the trick. I've only used email marketing a bit in MCA, but we are starting to utilize it a bit more. If you get a 1% response, as the prior poster mentioned it will be a success as long as you convert them to opportunities. Cold Calling, Email, Social and Face-to-Face networking are effective when combined with one another. I'm no Marketing expert, but the data is key, as is making sure these are all "opt in" leads.

[FUNd]

Wow, way too soon on the Robin Williams joke!. Yes, inbound-dialer/hot transfer is a pretty efficient way to get the "low hanging fruit", no doubt. With that said, I am still not anti-cold call. I just think that now, in the information age and the industry getting over saturated you have to be a bit more strategic with how you approach it. Take 30 seconds to Google the person you call and maybe copy/paste something about them/their company in your CRM, first of all. If you come prepared that Cold Call gets just a little bit warmer. The days of making 300 dials by yourself without knowing anything about the person you are trying to reach died in the late 90s.

Instead of using the same exact lines every other ISO/Account Executive does, try to engage the person a bit more. Don't start with "Do you need working capital?" because the next thing you will usually hear is a click. Example: you're calling someone in Construction. Maybe start with something like" I've helped Construction companies who specialize in ______ get $_____ this year. If I was able to get you anywhere from 50%-150% of your gross, how would you use it?" OR "How many more projects would you be able to take on with an infusion of capital?" Something that can potentially engage them and IS NOT a (dumb) yes or no question. Yes, it is still a numbers game and you will deal with plenty of rejection, but if you can separate yourself, just a bit it can and does work.

Nowadays CC alone probably won't do the trick. I've only used email marketing a bit in MCA, but we are starting to utilize it a bit more. If you get a 1% response, as the prior poster mentioned it will be a success as long as you convert them to opportunities. Cold Calling, Email, Social and Face-to-Face networking are effective when combined with one another. I'm no Marketing expert, but the data is key, as is making sure these are all "opt in" leads.

Great advice. I love the lazy managers in this biz that sit in their office eating a stick of butter, or whatever else satisfies the pallet of some fat ass in a suit, and count calls. It's the hourly email about who has the most dials and talk time, but they themselves never touch a phone. They write scripts all day and have meetings about production, yet they still pull a goose egg every month because they don't do ****. This is why I'm an independent ISO now. I do thank my former employer for giving me some paid education, however. LMAO.