[MCNetwork]

Here's my problem with live transfer leads. Firstly, live transfer companies use telemarketers (usually from South America or the Philippines) who are compensated by the amount of leads they can generate. These low wage employees must produce or they are terminated. The goal of the telemarketer is to find a merchant with a minimal amount of interest in financing and push that to the client as a lead. Whether or not the merchant is actually in the market for immediate financing is of secondary importance. So a great majority of the live transfer leads are just tire kickers with no real interest in a merchant cash advance. They were just coerced into getting a free quote for financing so the telemarketer could make his daily quota and save his seat.

Secondly, the live transfer companies also re-sell these same leads to several other parties. They are not exclusive, and even if they say they are, there is no way to prove otherwise. You have to pray that the lead companies are honest and there's no honor among thieves. Let's face it, these guys are trying to make money and there is a big market for cash advance leads. So even though you may have a great first conversation with your lead, the lead will become cold and stop responding to your calls because he's already been inundated by 10 other broker calls between your 1st and 2nd conversation and it pissed him off so he stopped taking calls or he went with a smoother talking competitor. It's really dog eat dog out there in the live transfer business and unless you have exceptional sales skills and can do a one call close, you're going to be spinning your wheels. Otherwise, you have to pay a premium to make sure your live transfer leads remain "exclusive" to you. Some of the larger funders pay big bucks for armies of overseas telemarketers and this fairly guarantees that their leads stay exclusive (at least for a few weeks lol). The economics of the live transfer and MCA lead companies are not aligned with the client. The lead provider needs to maximize his revenue per lead and this means smaller clients will find themselves in a dogfight over a lead with other brokers.

So Bruce, I would say that most of your issues with live transfer leads come from the way the system is rigged. That's why I don't use them. There IS value in purchasing aged live transfer lists. Once all the sales calls have died down and the lead has had time to recover from broker shock, another voice can come in several months later and win the client. Plus they are much cheaper than live transfers so you'll get a healthy ROI. If you want to continue using live transfers, make sure you ask for copies of the initial conversation (the big companies can email the mp3 clip to you along with lead details) so you can get a refund if it sounds like the merchant was not properly pre-qualified. And also be sure to include the following line in your first conversation: "Now Bob, I don't want to alarm you, but you're about to get swamped by 50 other phone calls from brokers offering you the moon, so can you please give me the private number to your batphone so I can follow up with you?"