[CHAMP3]

Many ISO's and even the lenders that are getting into direct sales have hung their hats on the UCC list market and robo dialing. Unfortunately for us seasoned business owners, all the new ISO's that have started up with little to no training or actual experience in this industry have tainted the merchant's with their combative marketing ploys.

My question is this! What are some new approaches other Lending or Iso partners use today for customer acquisition? I am not asking for the secret sauce but more so for interest of market knowledge.

[Andy]

Best method by far is referrals, but takes time to build up a solid referral network. There are lots of other businesses that are in related industries that are not direct competition to us, that can be a valuable source of referrals.
Other working methods listed in no particular order-
direct mail
online marketing
email marketing

[GRP Funding]

Definitely referrals or an existing database of customers that you've sold other products to in the past

[DirectMedia_Scott]

I'll start my message by stating that I have an open bias as I am a marketing professional who actively works in this industry.

That said, there are many different ways of going about customer acquisition. The lowest cost per acquisition is always going to be networking and referrals as there are often no hard costs associated with them. Attend local events, shake a few hands, kiss a few babies.

As you stated in your post, UCC lists are often abused and worked over. These merchants have been cold called and sent mailers to both their home and business. Even if they do have the need, its more or less a matter of having really good timing and a unique selling proposition ( which can be difficult in this market).

A major shift I have seen for new client acquisition is an inbound campaign. You'll note that all of a sudden you are starting to see companies throw major money at radio and television. This gives them an edge in my opinion.

It's tough to sell lemonade when the customer is on a street with 25 other lemonade vendors. Instead, create a situation where when someone's thirsty, they come to you.

[MCNetwork]

Right now, the inbound live transfer campaigns are the best sources of new clients. The million dollar question is which firm to use because they are not all alike.

[JayBallentine]

We find that casting a super wide net to bring in partners with a diversity of experience to be effective. We look for reps with experience in other areas.

For instance; We have a gal who blew through the door with file after file from her previous experience and relationships in the medical field. The experience we provide these practitioners is such that it's tough for anyone to come behind us requesting an app and 4 months statements. She isn't even exposed to any of there personal stuff. Another guys' sister runs a B2B call center so her relationships are his... and she's allocating resources to invest in him. In short, look for relationships where you can get creative and derive value.

Face to face is gold though. The problem with face to face is you can't possibly make enough quality contacts to sustain yourself. How do you do face to face while keeping morale high? How do you prevent a guy from quitting on his first day after he "doesn't get anything?" We THINK we may have the answer. We want an army of iPad wielding reps going door to door nationwide anchored by an experience outlined in this Daily Funder post.