Sales prospecting is the number one challenge faced by business development teams, vetting on their ability to keep the sales funnel filled up on a consistent basis in Alternative Financing businesses.
Small and medium Merchant Cash Advance businesses cannot be a victim to slow times, owing to seasonal occurrences or lack of events to capture leads.
Although theoretically, it is necessary to keep the sales pipeline filled with prospects, there is also truth in the statement that this is something that cannot be attained overnight.
It takes immeasurable patience, dedication, practice, and hard work- but beyond all it requires consistent lead harvesting for keeping your sales funnel full.
Therefore, it is needed that you must establish a set of processes that can be automated within a Merchant Cash Advance CRM , to lay down a foundation on how you should manage the sales cycle for unswerving growth of your company.
Here are 4 golden tips on how you can fill and manage your MCA CRM software’s sales pipeline like a Pro:
1. Use All Possible Modes Of Communication
Develop a timeline of touches that include phone, email, and also in-person contacts. Next, roll out that timeline as a set of tasks in your MCA CRM system with requisite time in-between each touch. This way you will be able to create a calendar of events for each of your prospects without forgetting the quite leads. Reminding your prospects who you are often can keep a cold lead warm, which may have been on a greater priority earlier in the year.
Apart from this, you should also remember that everyone learns through different means. There are leads and prospects those who like to hear (on phone), while there are others who prefer to see (on emails), and there is a growing population those who demand a more interactive learning experience (on video tutorials or demo). Therefore, adapt to your prospect's needs while using your Merchant Cash Advance software, and do not only stick to your preferred channels for communication.
2. Proactively Ask For Referrals
Let us now discuss referrals which can be used as a highly effective means that can boost your Cash Advance businesses’ sales pipeline. Alternative financing businesses must not wait for the referrals to come to them. Rather they should be proactive and ask happy customers for referrals to increase the sales.
Now, once any of your customers send you a referral never forget to thank your connection for lending their help, and remember to keep them in the loop on the engagements so that your connection is capable of comprehending the significance of their actions.
Therefore, send business cards to your customers reminding them after every few months about your MCA brand’s referral programs, and then if any conversion happens to ensure that you send them a token of appreciation (like a gift card) to keep the connections send more referrals to your alternative financing company.
However, the most important thing is to remain sure that you must track all your lead sources in your Merchant Cash Advance CRM software so that you can find your reference back to the original referrer, whose efforts you mostly need to appreciate for vouching on your financing services.
3. People Do Not Like To Say No
As we spoke before, converting a prospect into a new customer takes efforts, time and patience, and so, most of the outcomes of your attempts for conversions are not usually seen on your first communication with a sales prospect.
It has been found in several types of research on sales processes that lead, prospects and customers do not prefer to say no. So keep contacting the prospects in your MCA CRM pipeline until they negate your offering. This is because; you may never know your prospect’s present need for finding finance, budget, and timeline that change along with time.
Too often sales reps deem leads as dead, just because they did not hear back on a proposal.
However, what happens if a lead did not remember you and therefore contacted your competition?
Hence, setting up a business growth technology once your buy CRM helps to remind you to contact all your fence-sitting prospects every month, just to make sure that you remain in their mind until the prospects tell you to go away.
4. Do Not Try To Avoid The Gatekeeper
Decision-makers in any organization are always inundated with sales calls, therefore, the office managers and receptionists are most often tasked with keeping such solicitors at a bay. Mostly, these gatekeepers screen the sales reps so that their manager’s times are not disrupted by unsolicited sales calls.
Hence, rather than trying to bypass or treating these gatekeepers as a barrier, befriend and educate them why their organization needs your alternative financing solutions. Performing this simple exercise might help you in reaching your prospects faster and closing your deals.
Takeaway
Filling your sales pipeline like a Pro does not have to be difficult or expensive; however, it needs consistency and a cutting-edge business growth technology and tools as the backbone to ensure nothing falls through the crack.
There are many MCA CRM software solutions that will easily integrate with your Merchant Cash Advance software platforms and enable your sales team to do more.
If you found this article helpful, contact ConvergeHub for a live demo today.
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