Fort MyersFort MyersNew York Mon - Fri 9:00-5:00 239-274-7990 Mon - Fri 10:00-18:00 +34-354-5468-8
Email info@iacfb.com

List Building: Types and Categories

List Building and Lead Generation

List Building:  Types and Categories of Lists for Factoring Brokers

All factoring brokers will find the need to build lists which will primarily fall into one of three primary categories…

  • Suspect lists
  • Referrer lists
  • Lender lists

All lists are built, managed, and nurtured in your CRM (Pipedrive) and in some cases, also in your email marketing program (MailChimp).  Your lists are your most valuable asset as a broker and are the heart of your business and as you will find out, there is much more to list building than just inserting a name.  In fact, much of your success in marketing and business development can be directly linked to the “quality” of your lists

A Toggle Box Title

A toggle box content area

A Toggle Box Title

A toggle box content area

Building Lists for Business Development

Successful factoring brokers will also find they are successful list builders.  They will build and manage lists in both their CRM (Pipedrive) as well as their Email Marketing software (MailChimp).  Most factoring brokers will develop business through the use of both networking and direct marketing.  Local networking opportunities that are face-to-face are the most sought after but are not available 100% of the time.  Networking utilizing social media fills the gaps and provides relatively unlimited opportunities to develop relationships with those that can send business your way.  As a factoring broker, you will construct lists of referral sources such as accounting professionals and lending officers you meet through networking at local events.  You will also have opportunities to gather quality suspects for your compiled lists as you attend events such as after hours Chamber of Commerce meet and greets.  By far however, your largest list will be your compiled list of suspects which you will use for direct marketing lead generation.

 Types of Lists You Will Create

Shortly after you have opened your doors and launched your business as a freelance industry consultant, you will need to focus your time on marketing and it’s prerequisite, list building.  You virtually cannot market without creating lists and you will find that most brokers will deal with multiple lists including…

  • DATABANK LISTS:  These are commercially available lists you will purchase from a list vendor such as InfoUSA and will be based upon demographics or your choosing.  For those new to the industry, databank lists can be a great way to prime the pump.  You may, for example, order a list of various types of service providers in a dozen or so postal codes around you.  You are charged for the list based upon your demographic requests.  You may, for example, order a list of 1,000 names of businesses that include…
    • Business name
    • Owner’s name
    • Business address
    • Business phone
    • Minimum employees of 5  (weeds out very small operators)
    • Annual revenue of over $750,000

           Databank lists will typically only be housed in your CRM

  • COMPILED LISTS:  These are your “suspect” lists that you personally construct from internet research as well as trade magazines, professional association rosters, and after hours networking.  Compiled lists will usually be your largest list since, unlike databank lists, they are free.  It is not unusual for a factoring broker with several years in the industry to have several thousand names of business owners in their compiled list.  Successful factoring brokers with 10 years or more in the industry may well have 10,000 – 15,000 names of business owners in their compiled (suspect) lists.  IMPORTANT CONCEPT:  The goal of your various marketing campaigns is to move members of your compiled list and your databank listto your response list.
    Compiled lists will be constructed in your CRM
  • RESPONSE LIST:  Your response list is, by far, your most valuable list.  Members of this list are just one step away from becoming clients.  They have responded to one or more of your marketing campaigns, requested information from one of your offers, and have provided you with the opportunity to contact them directly through a phone call, or even better, an appointment.  Members of your response list are HOT PROSPECTS and should be treated as such.  Members of your response list represent future business and because they have responded to your offer, you should now have an email address for follow up.  This list is housed in both your CRM and Email Marketing software.
  • E-LISTS:  These are email lists made up of both those that have responded to one of your offers and those that have simply opted in and agreed to receive information from you.  E-Lists are important lists and will grow to be large lists as they will be primarily made of of those people that you meet through networking and other face-to-face opportunities and social media.  These are people that advocate for you and that can send business your way.  E-Lists are housed in your email marketing software (MailChimp) and are made up of…
    • Members of your response list
    • Advocates and Referrers (opt-ins)

Constructing Your Lenders Database

In addition to the above lists you will use for direct marketing, there is another list that is relatively important for all factoring brokers to construct and especially those new to the industry and that is a “lenders database”.  the lenders directory is housed in your CRM and will provide important information about industry lenders that will be at your fingertips when needed.  You will instantly be able to source which factors and lenders do unique niche deals and deals that are not that common.  Additionally, the time you spend building your lenders database and visiting their websites and learning more and more about all of the industry’s products will be part of your education as a factoring consultant.  To assist you in building your personal lenders database, IACFB has assembled a directory, The Directory of American Factors and Lenders, which provides basic category information and website links to over 500 industry lenders.