Developing your marketing skills to produce adequate leads is the first step to prosperity as a broker / consultant in the factoring and alternative commercial finance industry. Additionally important, however, is developing your prospecting skills to move leads along through the sales process. Understanding the formula, Leads = Prospects = Sales is important but the real question really becomes…how many leads do you need to qualify to
develop one prospect and how many prospects are required to develop one client (sale)? Make no mistake, though, in the business of developing clients for factoring and alternative commercial finance, it all starts with LEADS!!
Once you have “filled the bathtub” with pre-qualified names of businesses, you are ready to begin developing your leads or response list. A response list is a premium list developed as a result of suspects responding to your marketing efforts and subscribing to an offer. It is by far your most important list since it only includes those business owners that have shown a genuine interest in your financial services.
One of the more difficult concepts for most involved in sales to understand is the subtle difference between direct marketing (lead generation) and prospecting. While clarifying the difference can sometimes be challenging, the tasks are distinctly separate to true sales professionals.
The task of lead generation utilizes direct marketing methods to qualify a suspect, which for all practical purposes, is simply a demographically chosen name. In qualifying the suspect, you are basically attempting to determine whether the business owner is interested or has a need for your services. If interest or need is determined by the suspect receiving your direct mail or telephone solicitation and requesting additional information (your offer), that name is then added to your response list for prospecting. What you will learn is that true prospecting is a qualifying methodology that is actually designed to simply remove unqualified names from your various lists. Once you remove those unqualified, your list will be of exceptional quality containing only true prospective clients.
Offers are the most important component of any direct marketing campaign and are included specifically to elicit a response from members of your targeted group of suspects.
Because of the overall importance of the offer in the success of your campaigns and lead generation, you should become well acquainted with the various types of offers and how to phrase them. While there are four basic types of offers, all offers have two primary components:
The most common and popular form of offer for commercial finance consultants is probably the offer of a brochure or pamphlet describing a particular product area such as….
“For additional information on how factoring can , solve your company’s payroll problems, complete the short form and return today.”
What does the suspect / prospect get? …
What does the suspect / prospect have to do to get it?…
Fill out the web form.