Buying Leads vs Cold Prospecting:Which Would be More Helpful for Merchant Cash Advance Firms?

Buying leads is a powerful strategy utilized by a lot of businesses nowadays. It proves to be a good way of generating revenue and strengthening a company’s foundation.¬† Compared to traditional marketing aides or strategies it assures quality and with that assurance, conversion is also assured. Now, will buying leads be also the best thing for merchant cash advance firms? Or would cold prospecting still be the way to go for merchant cash advance firms?cash advance leads, cash advance lead generation, cash advance appointment setting, merchant leads, pay per call telemarketing, telemarketing company

Common arguments pit buying merchant cash advance leads against the traditional cold prospecting. Cold prospecting is a pretty old way of getting clients. It involves random conversations with people with the hopes of hitting a possible client. It actually works in some occasions, but as they say, you will get a lot more no’s than yes.


In contrast, buying leads and lead generation is a much more modern concept. It involves outsourcing your marketing strategy to experienced and professional telemarketers. These telemarketers will do the marketing for you, its like having a personal shopper doing all the shopping for you. All you have to do is set a criteria, give it some time and it will turn to leads. Leads or sales leads is basically the identification of a person or entity that has the interest and authority to purchase a product or service.


1. Spend more time generating cold prospect lists


Cash advance leads save you the time of cultivating and building cold sales lists. Instead of time spent building the list, you could be talking to interested prospects.


2. Spend extra time training to prospect cold lists


Merchant cash advance leads save you the time of training your employees the skillset of talking to cold prospects. You can skip that and train them to talk to people who want to take advantage of a merchant cash advance right away.


3. Wasting time figuring out if people are interested


Merchant cash advance leads save you the time of talking to a large number of people who are not interested in merchant cash advance. Your time is of the essence. You make less money per deal if you have to allot a lot of time finding the right clients.


4. Low output of percentage deals closed with cold prospecting


Cash advance leads allow you to close a much higher percentage of clients. If you’ve closed a cash advance application before, you know that you’ve got to approach many cold prospects again before you get to the prospects who are a bit interested in your service. It’s frustrating to hear the word “NO” that often.


5. Cold prospects is slow to start up


Merchant cash advance sales leads allow you to get in touch with prospects who are interested now. This saves you months of warming up cold prospects and taking them through the whole sales process.


6. It’s a skill to prospect cold lists


Working merchant cash advance leads save you the time to train “cold prospecting skills”. These cold prospecting skills would require some time to work and to learn. Working with people who are interested bypasses this process altogether.


Taking all of these things in consideration. Buying leads will definitely give an edge to a merchant cash advance firm. In the case where marketing is a priority and allocation of funds would be no problem, it would be best to look into purchasing leads to help boost your sales revenue. As you can see, not only will it cut the time spent of training and looking for customers. It also cuts the overall operation expenses in the long run.

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