Once
the too-big-to-fail banks and the small community banks were locked
out of lending to businesses that are too-small-to-qualify for SBA
loans, a new group of lending institutions stepped up to help out.
Following the acceptance of these associations by the general public
and mainstream media, finding the right Merchant
Cash Advance Lead Generation
became a cost of doing business in order to sustain growth.
Small
businesses in the U.S., Canada and the U.K. are turning to merchant
cash advance lenders to sustain their enterprise until the economic
situation turns around. But, as Wesley
Yuhn,
one of the most notable authorities in the industry, reminds people
who are new to purchasing leads is to know what questions to ask
before you agree to purchase leads from a company that is new to you.
Questions
that Need Answers
If
you were deciding to buy a new home, you would do all the research
possible to make sure that you got the best possible product for what
you feel is a fair price. You ask the realtor if there has been a
home inspection and if so, what did it show. You would insist on
knowing what the schools and neighbour was like and when the roof was
last replaced. You should be as diligent when seeking a company that
sells leads. Here are some of the questions to ask:
- Does the lead generation company provide you exclusive rights to the leads that they sell or are they selling to your competition as well?
- Since you are asking about a specific industry and locale, expect to get a firm cost-per-lead quote in writing with the attached written stipulation that the leads are either your exclusive property or licensed to you (meaning not exclusive to you).
- How many leads can they sell you at one time? Good companies limit the number of leads that you can purchase within any one time period because they know that you can only process just so many leads anyway. If they sell you more than you can actually attend to, you will lose some really good potential leads because they sat too long.
- Are you offering just leads that are generated by your company or are you offering a complete system that includes advertising? If you are buying a system, find out who is responsible for advertising and what your minimum investment is expected to be.
- How is the advertising managed for lead generation? Each company sets its own fees and sometimes gives you a quote in dollars while others give you a quote in percentages. Analyse your cost-per-lead very closely for the first 90-days in any advertising program.
- How long has the lead generation been operating in this particular field? Some lead generation businesses may have experience in real estate or wine-making supplies but this is not equitable for your industry.
- Is the vendor willing to provide you with contacts for customers currently using their system or do they prefer not to do so? Either way, the response can be a double-edged sword. Do you want this vendor giving your name and contact information to the next person looking to buy their product or do you prefer a company that retains your information as sacred?
Most
of all, ask questions and don’t assume that you know the answers
because you’ve already spoken to three other companies. Then, make
an informed decision.
