[WestCoastFunding]

According to this logic, there is no need for any company to hire salespeople to perform outbound telemarketing sales since no business owner will just sit around twiddling their thumbs waiting for a cold caller to reach them.

That's not at all what I said. I simply stated that the percentage of business owners waiting around for cash advance brokers to sell them financing is a very small percentage, and the pool of brokers cold-calling is increasing. If you want to fight for cold calling market share, knock yourself out.

I do know that business owners do hundreds of thousands of searches on Google, Yahoo, Bing and other search engines for business lending options each month. Here are just 6 keywords and the number of monthly searches for each one:


Working capital: 27,000 monthly searches
Business loan: 6,600
Business loans: 18,100
Small business loan: 5,400
Small business loans: 45,000
Merchant cash advance: 3,600

Those are just a small fraction of search terms, and there are thousands of other keywords (as well as long tail search terms). And that only represents Google searches and not other engines.

Like I've said, it's 2017. There are more efficient ways to reach customers than cold calling. And those of us that aren't forced to spend endless amounts of hours dialing away, are able to focus on hiring finance professionals that are well-versed on all types of business and commercial lending, and not just MCA salespeople.

I'll say it again, when your customers come seaking-out your services (as opposed to cold calling) there is nothing to sell. There's no resistance. At that point all you have to provide is advisory, and let the solutions (financing options) sell themselves.

But hey, market how you wish. If one really believes that the "ONLY WAY" to reach prospective customers is to cold call, have at it. I just fundamentally disagree.

[MCNetwork]

Here are just 6 keywords and the number of monthly searches for each one:


Working capital: 27,000 monthly searches
Business loan: 6,600
Business loans: 18,100
Small business loan: 5,400
Small business loans: 45,000
Merchant cash advance: 3,600

Those are just a small fraction of search terms, and there are thousands of other keywords (as well as long tail search terms). And that only represents Google searches and not other engines.

Absolutely correct. Now tell me the cost per click of those terms for a PPC campaign and how much your average ISO would have to spend in order to rank a site properly (first 2 pages of Google). Then tell me how much it would cost and length of time to rank a website for all the industry long tail keywords to even get a miniscule slice of that volume. And then tell me what percentage of those searches are from people who even remotely qualify for a business loan (Hint: most of those clicks are from startups, no matter how well your ads are worded to discourage them from clicking). It's not pretty. That's why unless you have incredibly deep pockets and are willing to suffer through a negative ROI for a few years until your SEO campaigns are dialed in and renewals kick in, cold calling will always remain the most consistent way for a small shop to make it in the MCA industry. If they try to launch a PPC campaign they will be bankrupt after buying a few hundred clicks. The MCA/business loan keywords are among the most expensive search terms in Google...