Tag: MCA CRM

How CRM Software For Financial Services Industry Can Improve Customer Experience Effectively

For most of us, the financial service industry is a deeply personal zone. This is especially all because, customers entrust their financial advisors, banks, private lenders, and investment firms to safeguard or grow their hard-earned money. Irrespective of whether the money is slated for a child’s education, or on a home, or for a dream retirement, the stakes remain high. Hence, a customer’s choice of a financial institution or advisor may always have a lasting impact on their ability to attain their financial goals. Additionally, many of us still struggle with basic and fundamental financial knowledge, which is exactly the reason why millions of people across the globe may make critical decisions about who should manage their funds without fully understanding their options to choose wisely in the financial marketplace.

For most of us, the financial service industry is a deeply personal zone. This is especially all because, customers entrust their financial advisors, banks, private lenders, and investment firms to safeguard or grow their hard-earned money.
Irrespective of whether the money is slated for a child’s education, or on a home, or for a dream retirement, the stakes remain high.
Hence, a customer’s choice of a financial institution or advisor may always have a lasting impact on their ability to attain their financial goals.
Additionally, many of us still struggle with basic and fundamental financial knowledge, which is exactly the reason why millions of people across the globe may make critical decisions about who should manage their funds without fully understanding their options to choose wisely in the financial marketplace.
Hence for people working in sales in financial services, this situation presents a dilemma, whereby they fail to understand how they can persuade their prospective customers to buy their services when in reality their customers have very little knowledge of their offerings.
Now, part of the answer to this question may be solved by using a CRM software for financial services industry, which can help the sales reps to log in customer data and interactions consistently into the software, which can help them to better identify their prospect’s and customer’s needs and thereafter provide relevant information that is not only persuasive but all better-suited for their customers.

You don’t close a sale, you open a relationship if you want to build a long-term, successful enterprise – Patricia Fripp Click To Tweet

The Value Of Customer-Facing Knowledge

As stated above being one of the leading vendors of Merchant Cash Advance CRM we know how the financial service industry differs from others.
Consumers in the retail industry can try on clothing and access them for style, they can even determine by themselves whether they can enjoy the services of an expandable cable package, but they cannot understand the benefits of buying a financial service.

Hence much like an attorney or a physician professionals working in financial services are considered trusted experts in their fields, upon whom a customer may rely on their perceived expertise and trustworthiness to evaluate the value of a financial representative.

Thus in this landscape customer-facing knowledge has as a result become vital, not just for communicating but even for understanding when it is the right time to communicate with their customers.

Now the risk of manual management of customer and prospect data can easily overwhelm the sales staff in the financial industry and so to streamline this process a financial services CRM is what is needed to manage inputs and thereafter also retrieve information from the customer-facing data, without the requirement of tedious up keeping.

Hence the adoption of CRM software for financial services industry aids the staff in the financial sector to tailor their customer-representative interactions that can build trust for closing a deal in a meaningful way.

How A CRM Organizes Customer-Related Data

In modern times CRM software solutions are a cutting-edge outgrowth of early customer contact lists found in paper-files, and Rolodex machines of the pre-digital era.

In fact, the CRMs that are available for modern-day businesses have made a vast stride over its predecessors.

So what kind of information can an easy to use CRM house inside its database?

The answer to this is- Customer information.

Now customer information is more than a phone number with a name since it can also include a plethora of contact point data (like an office, residence, and cellular phone), as well as demographic data such as age or gender and transactional data like last purchase made or service-related data and more.

Detailed financial services CRM tools can even include notes from customer interactions with any employee within the company and also perform lead scoring that can help to rank customers and prospects for the sales teams to prioritize their efforts.

For managers working in a financial organization this data stored in the CRM database, can provide crucial insights into performance- such as their progress towards individual sales targets, or identify factors that are most important for retention of their existing customers.

Connecting CRM Data And Sales

According to research done by a major CRM vendor of global repute, it shows that CRM can boost sales by up to 29 percent.

Now an increase in sales is not the only improvement that CRM software can offer to its users. As one of the most popular vendors of MCA CRM tools, we know there are also several studies done on this business growth technology that shows using a CRM sales forecasting accuracy of the sales teams can grow by some 42 percent.

This is because while using CRM sales reps can spend more time on accomplishing high-value tasks and less time entering or searching customer information, which ultimately translates to happier sales staff in an organization that can help improve the bottom line.

Take Away

Hence the four most important ways that a financial institution can find more value from a CRM software for financial services industry is by harvesting more opportunities through immediate connection to the past conversation and requests that are done by a prospect or a customer, identifying key interactions that help build trust with the customers, find the right type of prospects that is in line with the services offered by the organization, and finally, by providing improved customer service through enhanced customer knowledge, since modern easy to use CRM is a tool that is capable of disseminating up-to-date knowledge in real-time to everyone involved that can boost marketing and sales efforts and more importantly help retain the customers years after their first agreement with any finance-related businesses.

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Things To Know: How Business CRM And Email Marketing Can Increase Your Revenue

When you are doing business online, you will find several things that require your attention. This is 2020, fully digital, everything is available online and if we talk about email marketing and business CRM solutions, according to research it shows that more than 82% of businesses in B2B and B2C are using email marketing automation nowadays. Now, this question might hit your mind: How email marketing can boost my businesses? What is Email Marketing? Generally speaking, email marketing is a part of internet marketing, which encircles online marketing via social networking, websites, blogs, and more. In fact, it is the same as direct mail but instead of sending the mails through postal services, over here messages are sent electronically through emails. Now once we are speaking about marketing, emails always stand out in the crowd and are still considered the best way for communicating with consumers in the marketplace.

When you are doing business online, you will find several things that require your attention. This is 2020, fully digital, everything is available online and if we talk about email marketing and business CRM solutions, according to research it shows that more than 82% of businesses in B2B and B2C are using email marketing automation nowadays.

Average expected ROI is $42 for every $1 you spend on email marketing. Click To Tweet

Now, this question might hit your mind: How email marketing can boost my businesses?

What is Email Marketing?

Generally speaking, email marketing is a part of internet marketing, which encircles online marketing via social networking, websites, blogs, and more.
In fact, it is the same as direct mail but instead of sending the mails through postal services, over here messages are sent electronically through emails.

Now once we are speaking about marketing, emails always stand out in the crowd and are still considered the best way for communicating with consumers in the marketplace.

Hence, email marketing is considered as a highly effective digital marketing strategy as it helps to communicate with all the prospects and customers through electronic channels, whereby using marketing automation found in easy to use CRM software tools email marketing empowers businesses to create campaigns that speaks to their audience on a much more personal level.

Therefore, in this era of digital communication, when marketers are required to do more with less, your marketing staffs need to connect with hyper-targeted buyers lurking within the crowd of prospects, which brings email marketing at the forefront of other strategies in the digital marketing field.

Why your company needs Email Marketing?

  • Better reach to your prospects and customers
  • Hyper-targeted segmentations
  • Beats social media platforms for selling online
  • Create dynamic personalized emails
  • Find easy email exchange at an affordable rate
  • Drive more revenue

According to marketing ninjas, emails are the best ways to hold your customers in-touch if you occasionally say – “Hi, we have got a special offer for you.”

It has been observed that using this technique gradually increases the customer’s interest in your brand, as it provides a favorable impression that you have been thinking about them.

Hence email listing based on demography, behavior, or social features of the prospects and customers provide highly relevant and contextual emails that really work for ushering business growth.

Do you know, according to a poll done by a major Salesforce Alternative CRM solution, it states that 91% of your target audience in the marketplace uses emails?

Additionally, as per polls done by Campaign Monitor, it states that 320% more revenue can be generated by automated emails using business CRM solutions, as against the non-automated ones.

This is because, the beauty of triggered emails is that, once they are programmed to run, they continue to mechanically drive earnings from the intended and targeted audience without you or your employees having to do anything more.

Hence email marketing is the weapon of choice for SaaS-based offerings and online stores as there are several CRM solutions that can help businesses to create startling email marketing campaigns, track the behaviors of their targeted audience and even optimize earnings through repeat purchases.

EMAIL MARKETING IDEAS FOR BOOSTING YOUR REVENUE

Now, in email marketing, it is not sufficient to simply send your prospects and customers plain vanilla emails, rather you need to have a good plan in place to make your emails work effectively.

Hence here are a few concepts for email marketing, which can help you to increase the impact of your efforts:

Get Personal

The most successful emails are those that make the audience feel that they are customized just for themselves.
Now, it is natural that you just cannot manually customize all the emails that you send to your targeted audience in the marketplace.

Hence automation is essential if you would like to treat each of your targeted audiences in a private way that can elicit a reply from the recipients of your emails.

Therefore, firstly if you want to find more traffic through emails, then you should collect sufficient data about your prospects and customers, which you can easily do if you are using a business CRM solution that can provide you the information you can use like the name, date of customer sign up, contact numbers, birthdays, a conversion event, and much more.

Hence, by segmenting the customers and prospects into different groups that are stored in the CRM database, based on their interests, behaviors, buying patterns, and more you can create personalized emails that can fetch replies and actions from the recipients of those emails.

For example, if you are aware of your customer’s preferences, it is possible to notify them over emails when your brand has new items that can pique the interest of your customers and are on sale.

Remember, emails are less about making sales and more about building a trusting relationship with your customer base, so concentrate on the entire customer journey for finding a better response to your emails.

This is because by offering useful incentives and information to your prospects and customers, you can create a loyal customer base that can eventually bring in repeat sales and more revenue.

Moreover, since emails are a part of a set of interactions with your brand, do not create emails that will simply send users to your brand’s generic homepage. Rather invest time to create customized landing pages and take your email recipients to those pages for finding deals that they might consider worth once they click on the CTA (Call To Action) buttons in your emails.

Now, even a simple welcome email can be quite effective as a part of your email marketing strategy, when potential customers are first showing their interest in your brand.

Finally, in the realm of email personalization if your customers are young, make them laugh since inspiring them and teaching them will make them come back to your brand for more.
For this send assignment quotes, short clickable videos, and pictures embedded in your emails that can make your target audience get identified with your brand, which can make them much more likely to turn into loyal customers.

Reward Loyal Customers

Placing a loyalty program with the help of email marketing is a fantastic way to cultivate a relationship with your customers. As a company cannot ensure growth without loyal customers hence consider providing existing customers points for their future purchases which is just one means for creating a loyalty program for your customers.

For this, you can segment your customers stored in your easy to use CRM who have spent above a specific amount while purchasing from your brand and send them email campaigns with exclusive offers like early access to sale, special product bundles or discounts. You can also offer incentives to your existing customers on their special occasions along with their birthday emails or for their first anniversary of shopping at your store.

Moreover, you can also give special discounts to your customers who refer other customers, bring in new visitors, or incentivizes referrals for your brand.

Target Dormant Customers

Sending targeted emails for customers that have not purchased for a while, with incentives to re-purchase could act as a gold mine. For this use emails to remind your dormant customers that you are still around. Send then gift cards in their emails that can encourage them to come back for more.

Utilize Social Proof

The power of providing appropriate social evidence is huge in the digital marketing field. This is because there is no way around the fact that people always trust other people and so think about providing some user-generated reviews and testimonials of your loyal customers in your emails. You can always boost sales significantly by revealing how many customers have used and are happy with your brand’s offerings.

Final Thoughts

As one of the most popular vendors of MCA CRM software solutions, which is mostly used by alternative lending businesses, we trust these email marketing ideas shall surely help you to get the most out of your customer relationships.

Hence never forget to personalize your emails keeping the customer journey of your consumers in your mind and offer rewards to loyal customers which can provide stellar business growth.

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Features You MUST Look For In Your MCA CRM Software (Especially During This Pandemic)

Technology solutions for business practices do not usually involve reinventing the wheel, but so to speak add enhanced and efficiency and functionalities to existing business processes to boost accuracy, speed, and user experiences. And it is even more true- when we are looking for a solution to manage our businesses during this COVID-19 Pandemic times. MCA CRM is an important tool that allows Merchant Cash Advance businesses to communicate with and serve the requirements of their customers. The purpose of easy to use Merchant Cash Advance CRM is to engage customers and create a meaningful relationship with the customers, create lasting dialogues that enhance understanding of the customer base, and increase their loyalty for your business growth.

Technology solutions for business practices do not usually involve reinventing the wheel, but so to speak add enhanced and efficiency and functionalities to existing business processes to boost accuracy, speed, and user experiences.
And it is even more true- when we are looking for a solution to manage our businesses during this COVID-19 Pandemic times.
MCA CRM is an important tool that allows Merchant Cash Advance businesses to communicate with and serve the requirements of their customers.

The share of applicants approved for at least some financing is highest for merchant cash advances and auto/equipment loans. - SMALL BUSINESS CREDIT SURVEY (2020) Click To Tweet

The purpose of easy to use Merchant Cash Advance CRM is to engage customers and create a meaningful relationship with the customers, create lasting dialogues that enhance understanding of the customer base, and increase their loyalty for your business growth.

Merchant Cash Advance CRM platforms can aid in tracking and thereafter measuring campaigns and perform in-depth customer analysis, which can help in expanding knowledge beyond the core marketing and sales areas to incorporate customer support and even financial data, which can provide a 360-degree view of every individual customer and even measure experiences of the wider customer base in the Alternative Lending marketplace.

Apart from developing and maintaining customer relationship, most MCA CRM has three robust functionalities which include:

• Sales Force Automation (SFA)
• Data warehousing
• Opportunity management

SFA can automate tracking of customer account histories, implement sales analysis, and coordinate sales, marketing, and retail outlets borrowing from alternate lending businesses.

Data warehousing of MCA CRM software allows users to follow trends, aggregate transaction information, and determine value and KPIs by uncovering data from the CRM database.

Opportunity management aids cash advance businesses to manage unpredictable demand and growth through a forecasting model that integrates sales projections with sales histories.

Therefore, a robust MCA CRM software increases customer satisfaction while at the same time reduces the number of actions needed for managing the customers.

As mentioned even before, integration is the key to proper implementation and adoption of any CRM software.

This means, your easy to use CRM must be able to work seamlessly with your present and existing business software platforms.

For example, most MCA CRM software integrates with accounting packages like QuickBooks for leveraging the power and functionalities of QuickBooks CRM software like ConvergeHub that offers QuickBooks CRM integration free.

An effective CRM solution should inevitably increase sales without increasing overhead. If you find your CRM solution adds complexity without any benefits, you may be using a system that is not right for your business.

But do not give up. The best CRM solution is there for every business – it may take some customization and tweaking, but the benefits it can provide far outweigh the time it takes to calibrate a CRM system to fit your needs.

Now choosing the right MCA CRM for your alternative lending business depends mostly on the size of your organization.

For example startups and small businesses usually does best with customized CRM solutions that are scalable and meets the requirements of their organizations without adding an extraneous feature that bog the system and also most essentially your workflow as it happens when SMBs opt for CRM solutions like Salesforce and prefer not to use Salesforce Alternative CRM software platforms that are specially developed for small businesses.

Takeaway

Therefore to conclude, the key benefits of implementing the right MCA CRM for your Cash Advance business include customer loyalty that enhances the security of your future revenues.

That means, implementing the right MCA CRM solution like ConvergeHub for your alternative financing business during these troubled times, when every single customer counts, lets you simultaneously save resources and time while it helps to increase your customer base and ROI.

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How To Build A Custom Facebook Audience Using Your MCA CRM Software

In modern times, most owners of businesses in the Alternative Lending industry using MCA CRM software would effortlessly agree that social media marketing is an extremely important and effective advertisement tool nowadays. However, in spite of the growing rise in social media many small business owners might not be conscious of all the existing resources and tools that are freely available for building a custom and preset audience for their relevant ads. To elaborate, for example. Facebook is one of the most popular and trending social media platforms when anyone among us thinks about putting up an adv on social media, more so because Facebook freely provides such wide-ranging customer targeting tools.

In modern times, most owners of businesses in the Alternative Lending industry using MCA CRM software would effortlessly agree that social media marketing is an extremely important and effective advertisement tool nowadays.
However, in spite of the growing rise in social media many small business owners might not be conscious of all the existing resources and tools that are freely available for building a custom and preset audience for their relevant ads.

To elaborate, for example. Facebook is one of the most popular and trending social media platforms when anyone among us thinks about putting up an adv on social media, more so because Facebook freely provides such wide-ranging customer targeting tools.

Seven out of ten (69%) adults in the U.S. claim that they use Facebook - Pew Research Center(2019) Click To Tweet

One of these targeting tools found in Facebook is its ability to upload your self-created customized audience list right from your Merchant Cash Advance CRM software.

Hence if you have a list of customers that have not been visiting your MCA website for a while and you are in a desperation to your lost customers a targeted ad as a simple reminder to visit the new offers that you have placed on your website, creating a list of the custom audience is a perfect way of doing so.
Now, there are several ways that you can approach to build your custom audience on social media platforms like Facebook.

Nevertheless, irrespective of how you choose to create the custom audience, the primary and the foremost thing that you need to ensure is that you have a saved list of your MCA customers which contains their phone numbers and their email addresses in your MCA CRM software platform’s database.

Thereafter, ensure that this list is saved as a CSV or a TXT file.

How to Build a Custom Audience Through Facebook Business Manager:

1. Log into your Facebook Business Manager.

2. Next, beneath the Business Manager Button (which is located in the upper left-hand corner), click on the Audiences.

MCA CRM

3. After this click on the Create Audience tab and select Custom Audience which you will find in the drop-down menu.

MCA CRM

4. Select Customer File in the list that appears on the screen.

5. Next click on “Add Customers From Your Own File or Copy and Paste Data”.

MCA CRM

6. Upload the previously created CSV or TXT and saved in the pop-up of the window.

MCA CRM

7. For the uploading process to complete permit Facebook at least 20-30 minutes and ensure that you name the list in the best way to describe its use.

8. You create now create a Facebook ad that is perfectly in accordance to the audience, once your data upload is completed.

How to build a Custom Audience Using Ads Manager:

1. To begin with, create a Facebook ad by logging into your Ads Manager on Facebook.

MCA CRM

2. Underneath the Custom Audiences (as you explore the audience section) click on Create New Tab and after that click on Custom Audience.

MCA CRM

3. Next, opt for Custom File in the box that appears on the screen.

4. Next just click on “Add Customers From Your Own File or Copy and Paste Data”.

MCA CRM

5. Now just like we did it even before, upload the previously created CSV or TXT and saved in the pop-up of the window.

MCA CRM

6. After initiating the upload to complete the entire process permit Facebook at least 20-30 minutes and ensure that you name the list in the best way to describe its use.

7. Once the upload is over, you can create a Facebook ad that is precisely in accordance with the audience.

Conclusion

Using a Custom Audience from a customer list that you have created in your Merchant Cash Advance software for your alternative lending business not only helps you to invite past customers to return to your MCA website, but it also aids in sending special offers to repeat customers or want to let people know of a special offer that you provide for a specific set of customers in your CRM database.

Hence once you are using an MCA CRM to reach your customers on two perspectives (Email marketing and also in Facebook Custom Audiences) you can be double sure of reaching an audience that is highly qualified and so is more likely to be your customers which results in consistent business growth.

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How Creating The Right Lead Nurturing Program Can Act As A Game Changer For Businesses

It is hard to reject the point the process of lead nurturing can be considered the most important process that all businesses require for developing their sales funnel. We say this since it is only a very trifling percentage of good leads that organizations capture by using their lead generation strategies ultimately become “ready for sales” if they fail to be nurtured properly. Therefore nurturing prospective leads for finding results for your business is a critical process that calls for applying an effective and efficient lead nurturing strategy to find business growth. Therefore, here are a few most essential lead nurturing best practices that can guide you on how you can use technology to fuel massive business growth.

It is hard to reject the point the process of lead nurturing can be considered the most important process that all businesses require for developing their sales funnel.
We say this since it is only a very trifling percentage of good leads that organizations capture by using their lead generation strategies ultimately become “ready for sales” if they fail to be nurtured properly. Therefore nurturing prospective leads for finding results for your business is a critical process that calls for applying an effective and efficient lead nurturing strategy to find business growth.
Therefore, here are a few most essential lead nurturing best practices that can guide you on how you can use technology to fuel massive business growth :

1. Use Email Messages

When you are sending emails to your prospective customers always ensure that your emails contain something that can be of value and interest to them. Else why would they waste their time reading the contents in your email?

For example, if you are into Merchant Cash Advance or alternative financing business you first lead nurturing emails might focus on a topic like “Difference between a Merchant Cash Advance and a Loan”.

Therefore, when you are using MCA CRM software to create an automated lead nurturing email campaign for your Cash Advance leads and prospects in your CRM database dish out something engaging and new and you can be sure that your prospects will be more than eager to receive your emails.

Ideally, for nurturing campaigns, your emails should contain one central topic and also just one predominant CTA (Call-to-Action).

It is important that you must necessarily remain focused on your subject or you may run the risk of putting your audience off with boring and irrelevant content.

Try to address directly to the problem that your lead is trying to solve, so that that you can get them to go through your email and understand your proposition clearly.

Like many other vital aspects of Inbound Marketing, efficient lead nurturing programs can be assessed and measured by evaluating certain parameters that can be found is most easy to use CRM software platforms.

Here are the three metrics that you must track regularly while conducting your lead nurturing programs to gauge the efficiency of your email campaigns:

• Email Open Rate- The percentage of people who opened your lead nurturing emails.

• Click Through Rate- The percent of people who clicked the CTA or any other link in the email.

• Unsubscribe Rate- The number of people who stopped receiving your emails.

11: 51% of email marketers say email list segmentation is the most effective way to personalise lead nurturing. - Ascend2 Click To Tweet

2. Use Telemarketing

Employing inside sales representatives who are specially trained in your offerings or appointing a telemarketing service vendor that specializes in B2B lead nurturing is another way for winning your leads.

Now, do not expect your telemarketing representatives to close the deals by making these calls since in most cases your prospects will not be ready to make a purchase yet.

Hence, always remember these calls are most essentially meant to provide additional information and extra educational resources that will assist in moving the leads and prospects for conversion through the sales funnel.

Moreover, you can even use these conversations to gather more lead qualifying information in your CRM database, such as a particular organization’s size and its business needs or a possible time-frame for closing the deal.

3. Evaluate Quality Of The Leads

In lead nurturing it is an extremely crucial element to judge whether the leads in your CRM database are good enough to be passed along to the sales team, which is a way that can help you to measure the effectiveness of your marketing campaigns.

Therefore you can implement a lead scoring system in your easy to use CRM software which can help you to find and segregate the sales-ready leads in your database.

However, before implementing your lead scoring parameters always consult with your sales teams before setting the criteria for scoring your leads.

Wrap Up

Lead nurturing with the help of easy to use CRM ought to be the priority for every company especially in the B2B landscape.

This the reason as to which with inbound marketing proving its salt and becoming extremely effectual in delivering pre-qualified leads to the sales teams, lead nurturing has become the magic pill for businesses that are ready to leave the world of mediocre growth, low sales and missed quotas behind and take a quantum leap in their business leadership to build a high growth sales engine that promises stellar revenue growth.

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How To Make The Best Use Of Inbound Marketing Skills For MCA Businesses In These Trying Times

The usefulness and popularity of the methodologies on inbound marketing in all sectors in the business including Alternative Lending businesses have been rising steadily since inbound marketing practices found its acceptance in the 2000s and thereafter evolved considerably, supported by the meteoric rise of the internet and introduction of fresh channels for marketing to deliver tailored and personalized contents to new prospects and existing customers, using MCA CRM software solutions which is more needed in this Pandemic times. However, do you know what is inbound marketing and what are the means by which you can excel in it? Well, in this article let us, therefore, dig into the nuances of this popular marketing strategy and discuss certain tactics that can be used in inbound marketing as we face this menacing COVID-19 tragedy along with some of the best practices that will help you to master it. Even not in the distant past, marketing was a totally different ballgame even in the MCA industry, than it is today.

The usefulness and popularity of the methodologies on inbound marketing in all sectors in the business including Alternative Lending businesses have been rising steadily since inbound marketing practices found its acceptance in the 2000s and thereafter evolved considerably, supported by the meteoric rise of the internet and introduction of fresh channels for marketing to deliver tailored and personalized contents to new prospects and existing customers, using MCA CRM software solutions which is more needed in this Pandemic times.

The global mobile CRM market will grow 11% to $15 billion worldwide this year as businesses seek to connect with their customers through their mobile devices. Click To Tweet

However, do you know what is inbound marketing and what are the means by which you can excel in it?

Well, in this article let us, therefore, dig into the nuances of this popular marketing strategy and discuss certain tactics that can be used in inbound marketing as we face this menacing COVID-19 tragedy along with some of the best practices that will help you to master it.

Even not in the distant past, marketing was a totally different ballgame even in the MCA industry, than it is today.

As before the rise of MCA CRM software and the internet, marketing for Merchant Cash Advance business mainly consisted of overtly trying to convince leads and prospective customers to buy their services, which in fact was not much different than traditional age-old advertising.

However, this marketing strategy changed as the internet and social media began to provide marketers with novel ways to deliver content to leads, prospects, and customers, shifting the focus from touting the advantages of their services to providing educational information that helped MCA prospects and customers to solve common problems.

Effective MCA inbound marketing tactics and best practices using Merchant Cash Advance software during this COVID-19 outbreak:

Although there are several common inbound marketing tactics that you have surely seen, nevertheless here are also a few of the most effective inbound marketing tactics that you can use for your Cash Advance business, especially when you are also using Merchant Cash Advance CRM software.

Content marketing

Content marketing is considered the bedrock of an inbound marketing strategy. Some of the most used content marketing tactics that can be used in Alternative Lending business are:
• Blogging
• EBooks
• Social media contents
• Videos
• Infographics
• Whitepapers
• Case Studies
• Email newsletters and others

Search engine optimization (SEO)

Next, once you have created your valuable content, you need to make it easy for your potential MCA customers to find and benefit from it.
This is where SEO (Search Engine Optimization) comes into play.
As most consumers use Google to search for content, SEO is a practice that helps in optimizing your Cash Advance website so that your web-pages appear higher-up in the search engine results.
However, although SEO remains a critical piece in every inbound marketer’s playbook, as Google constantly alters its search engine’s algorithms, nailing down SEO tactics for your Alternative Lending business is like aiming at a constantly moving target.
So learn more about updated SEO strategies that you can easily assimilate into your inbound marketing plans. Remember creating content without doing SEO is of no value, as content marketing is useless if you do not find a way to drive traffic into it.

Social Media Marketing

Social media has utterly altered the way present-day marketers approach their works. With the escalation of people using social media on a daily basis, social media platforms have become the primary channel through which MCA businesses can also reach their potential customers.
According to a report published by Social Media Examiner in 2018, it has been stated that social media marketing increase brand exposure by 87%, website traffic by 78%, and helps in generating more leads by 64% in the US markets.
Therefore, as an inbound marketing tactic, use social media to increase customer engagements and post your content on your social media platforms since if your content is outstanding, people will definitely share it and your Cash Advance businesses’ followers will grow.

Create buyer personas

Despite what many marketers may think, it is difficult to make a broad generalization about what your customers need or want without any research. Creating hypothetical profiles of your businesses’ ideal buyers or buyer personas helps to zero in on their requirements and deliver inbound content that addresses those needs.
For developing buyer personas, it is useful to launch a customer survey email campaign that allows you to focus on the most common pain-points that are felt across your customer base.
Using an MCA CRM software like ConvergeHub for collecting these data in the CRM database and for conducting these surveys helps in effectively address your customer’s needs.

Score Leads

Lead scoring is the practice of providing leads points for actions that they have taken and the demographic data they provide using MCA CRM software.
For example, when someone views or downloads your inbound contents, like eBooks, white papers, or visit your pricing page and others you can award them points for their interest to buy your services.
Lead scoring helps to view most sales-ready leads easily.

Develop engaging landing pages that convert leads

When someone clicks a link to view or download your content, ‘landing page’ is the place where they land on that offers the content for free but request personal information in exchange.
A landing page is a lead generation tactic, so make your Alternative Lending businesses’ landing pages engaging, which makes it amply clear what they are offering.

Takeaway
Unlike COVID-19, inbound marketing is here to stay. Since inbound marketing using Merchant Cash Advance CRM bridges the gap and enables modern, digital marketers to show that they care about the customer experience than anything else for creating a customer-centric business.

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The Role Of An MCA CRM Administrator While Using This Business Growth Tool

Talking about the rise of burgeoning use of cloud-based Merchant Cash Advance software systems over the last few years in the Alternative Financing companies, there has been a steadily growing necessity to find qualified and well-trained people who are capable of taking care of this business growth technology and perform the duties and responsibilities of CRM administration consistently for keeping it out of the harm’s way. Even though for larger organizations the job of the Administrator of a CRM is in most cases a full-time work. Ne, for startups and small or medium businesses, the job of a CRM administration can be just one of the many areas of responsibility for the employee assigned to the role.
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However, what set Merchant Cash Advance CRM apart are those functionalities that cater to MCA industry for meeting with their unique purposes.  MCA CRM is designed to help Cash Advance businesses run their front-end operations and at the same time improve their customer lifecycle management for retention of the clients by providing unsurpassable services.

CRM gives businesses a 65% boost in sales quotas- Innopple Technologies Click To Tweet

Apart from this Merchant Cash Advance CRM also enables the lenders to keep detailed client data and maintain timely customer follow up with loan pipeline management to stay in control of the business.

Comparing Merchant Cash Advances to Traditional Business Lending

MCA or Merchant Cash Advance are gradually becoming more mainstream as several small and medium businesses that are not being able to secure a bank loan are turning to alternative funding sources. This is because; a merchant cash advance can be availed by a business quickly and that too with minimal paperworks. Hence, as banks continue to be very tight with their loans; merchant cash advance is becoming extremely appealing to small business owners over time.

How MCA works?

To illustrate in layman’s terms, Merchant Cash Advance, or an MCA provides purchases a pre-defined amount of a business’s future credit card receivables in one lump sum in return for the receivables, which is paid back to the lending organization over a certain period of time, which is usually calculated as a daily percentage of the customer’s debit/credit card totals. This is the key benefit that distinguishes MCA from conventional loans.

In other words, Merchant Cash Advance is not loaning a business any money, rather it is a simple process of buying a portion of the customer’s future business revenue.

Advantages of MCA Borrowings Over Bank Loans

The primary advantage of MCA over bank loans is that Merchant Cash Advance, in general, does not require any collateral, and liens (although this is always subjected to certain conditions). Apart from this, the other ranges of benefits that small businesses receive from choosing this kind of funding are:

  • No rigid monthly payments
  • No upfront fees
  • No UCC-1 (Uniform Commercial Code-1) at the time of funding
  • No collaterals (subjected to certain conditions)
  • No limits on how you spend the fund
  • Minimal approval time for disbursement of the fund

Therefore, the greatest advantage of MCA is that the amount, which the business pays, is based on the sum total of the credit card transactions that the borrower receives every day. As there are no set fees that must be paid every month, so small businesses taking merchant cash advance still have an access to a greater portion of their own revenues. This implies, if your sale drops for a specific month, your MCA payment will also become low to reflect that change.

Why use a Merchant Cash Advance CRM?

While all CRM may work for any business, Merchant Cash Advance CRM is specially designed for MCA businesses, as it not only helps in easy collaboration with the funders but it also helps MCA business in the following ways, which include:

  • Find a central repository for merchant contact information, related documents and underwriting information
  • Escalate the power of communication by integrated with DocuSign, Email, and Fax application templates for merchants and funders
  • Track deals from underwriting to funded stages
  • Syndicate and track approval numbers, management fees and commissions
  • Increase agent’s productivity by using quick lead capture form, easy edits, 360-degree merchant profile view and one-click deal conversion
  • Multiple fund submission and tracking

Takeaway

Therefore as a small business owner, if you find that you have the opportunity of expanding your business, but you do not have the time for traditional funding to come through, it is the perfect time to consider Merchant Cash Advance to get the finance you need, especially just when you need them.

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Talking about the rise of burgeoning use of cloud-based Merchant Cash Advance software systems over the last few years in the Alternative Financing companies, there has been a steadily growing necessity to find qualified and well-trained people who are capable of taking care of this business growth technology as an MCA CRM administrator and perform the duties and responsibilities consistently for keeping the CRM out of the harm’s way.

Even though for larger organizations the job of the Administrator of a CRM is in most cases a full-time work. Now, for startups and small or medium businesses, the job of a CRM administration can be just one of the many areas of responsibility for the employee assigned to the role.

43% of businesses applied for additional financing over the past 12 months - Federal Reserve Survey (2019) Click To Tweet

Nevertheless, for either case, the job of CRM administrator in alternative financing business can be a set of new responsibilities for many people using Merchant Cash Advance software .

Therefore, here are a few vital best practices to consider for anyone new to this role among hundreds of our MCA CRM users in the Cash Advance business.

Best Practice #1

Perform Habitual CRM Database Cleaning

CRM database can very quickly become dirty within a few months. Errors like creating duplicate records and entry of loose data both contribute to the escalation of this issue.

Therefore, juxtaposing ongoing MCA CRM training for the users of the platform and the use of (technically imposed) data entry formats and necessary protocols can aid in ensuring that proper information is placed in the right fields inside the Merchant Cash Advance software.

Like, never enter add-on notes or other information into an address or phone number field.

If you are a user of MCA CRM, you can use its native CRM database cleaning functionalities, duplicate avoidance capabilities, or even a third-party tool to periodically scan for supposed duplicates in the CRM to stay on the top of your data cleaning process.

Best Practice #2

Make the interface of the MCA CRM appropriate to each user

We from our experiences as one of the most popular vendors of MCA CRM software in the US have found that one of the many factors that help in user adoption of CRM solutions is the relevant and clean user experience of the CRM.

For each group of users (marketing, sales, operations, support, and finance) remove the fields and tabs that do not apply to the people in that functional role.

This is because a ‘less-is-more’ approach to screen layouts of the Merchant Cash Advance CRM software will keep the user’s attention riveted on the main information they require to view and maintain in this cutting-edge business growth technology and tool.

Moreover, doing this will also make information easy to find through search functionalities, in the easy to use CRM whereby reports will be more meaningful and complete, making your CRM an easy to work with software.

Best Practice #3

Take Written Consensus Before Adding New Fields

As the adage goes ‘with great power comes greater responsibilities’, therefore, it is very easy for an MCA CRM administrator to add new fields in the MCA CRM software. However, owing to this, fields can be at times added to the CRM platform, with no internal discussion or a little forethought.

Therefore, before adding any new fields in the Merchant Cash Advance software, it is most important to run the rationale for the new field and obtain buy-in from the manager whose teams will be responsible for maintaining that field in the CRM system.

Best Practice #4

Obliterate Old CRM Users and Create New Ones

Like all other businesses, when a user of your MCA CRM software leaves your alternate funding organization and a new user record is subsequently needed to be added to the Merchant Cash Advance software, the record of the previous user ‘SHOULD NOT’ be simply updated with the name of the new user and his/her email address.

This is because; doing so will make all the previous users’ past emails and activities to get associated with the new user’s profile in the CRM database.

Therefore, it is extremely important that your CRM administrator should deactivate the old users so that their licenses are freed up and their name remains associated only with erstwhile past activities.

Best Practice #5

Annotate Your MCA CRM Configurations

Whether you are creating an email template, adding a new custom field, or setting up a new workflow process in your MCA CRM, ensure that you as the CRM administrator must key in the purpose of the modification or addition that you have done in the associated notes or description field in the business growth tool.

This is because, although the reason for this addition or modification may be clear to you and obvious in the moment, however, down the road you may forget the exact reason or purpose which made you do so, and then if the reason is not apparent to you as an administrator of the CRM, it will also not be clear to the other stakeholders using the software in your organization.

Now, if your CRM does not have the required annotation field, create another parallel document in your system, that will take a note of these modifications and the reasons for performing these activities.

Best Practice #6

Never Forget to Create Backups of Your MCA CRM Data

Finally, as an MCA CRM administrator, what will you do if a user of your Merchant Cash Advance software deletes a vital company record accidentally, and along with all its related contacts, historic activities, and also the emails?

Even though most popular cloud-based Salesforce Alternative CRM vendors much like Salesforce creates backups of your data, however, if your CRM database ever needs to be restored you would lose all the changes that were made by the users of your MCA CRM since the most recent backup occurred, and so use an export service in your CRM and create consistent backups of your most important information in the CRM database, before it is getting too late.

Takeaway

The role of a CRM administrator involves a range of very important responsibilities. Hence, using this set of best practices, which if followed up on a regular basis, will for certain optimize the user experience of your MCA CRM software, which will even increase the user adoption rate of this cutting-edge business growth technology and result in more meaningful reporting of information from your preferred CRM that you use for your alternative funding businesses.

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How To Improve The User Experience Of Your B2B Website

Your business website is in all probability the most vital digital modern-day asset your SMB or startup has in today’s world, as nowadays more small businesses than ever do their businesses exclusively online for business growth. Now, even if you do have just a brick-and-mortar operation, your web presence is probably still necessary as the primary method for reaching out to your customers. In fact, it is much easier now to compete with major players in business those that have a stronger and larger brand recognition than it was just a decade ago in the past. This is the reason as to why carving out a profitable niche for your business requires superior-quality web presence, and these standards for quality are getting higher as more-and-more of our everyday activities are moving online.

Your company website is in all probability the most vital digital modern-day asset your SMB or startup has in today’s world, as nowadays more small businesses than ever do their businesses exclusively online for rapid business growth.

Now, even if you do have just a brick-and-mortar operation, your web presence is probably still necessary as the primary method for reaching out to your customers.

The average CRM user adoption among sales professionals is 73% and the average ROI period is 13 months. - G2’s CRM Software Research (2019) Click To Tweet

In fact, it is much easier now to compete with major players in business those that have a stronger and larger brand recognition than it was just a decade ago in the past.
This is the reason as to why carving out a profitable niche for your business requires superior-quality web presence, and these standards for quality are getting higher as more-and-more of our everyday activities are moving online.

Hence positive UX (User Experience) is absolutely indispensable to succeed online. Since website visitors do not have the tolerance for viewing websites that do not work well, and therefore you got to make sure that you are engaging potential leads and customers, while you have the opportunity to sell them your offerings.

So are you ready to improve your business website and convert more customers?
Since once you get the handle on how you can boost and maintain your site’s UX, it will be easier than ever to build a relationship using an easy to use CRM with your prospects and customers online.

Therefore, before we dive into the big-picture strategies, it is extremely necessary to be familiar with the building blocks for creating a stronger UX that any website should offer in order to not unknowingly turn off new prospective visitors which can hamper your business growth.

  • Fast website loading speed

As all web-visitors are edgy when it comes to viewing websites these days, your business website needs to load quickly for better engagements on your site.

  • Intuitive and clear navigation

Make it easier for your visitors to find quickly what they need. For this ensure that all your web pages are clearly labeled with links to the main sections of your website and place your contact info in the header and footer section on every page.

  • Think about landing pages

Try to anticipate what your visitors needs from your business website and as sending someone directly to your homepage when someone clicks on a link of your site via a social media post or a particular ad might not always be the best way to keep them engaged, create spectacular and informative landing pages where you can collect the contacts of your visitors and store them in your CRM database for nurturing of the leads.

  • Optimize your site for mobile

The majority of website traffic nowadays comes via mobile devices. Therefore, your website needs to be optimized and responsive to work well on small screen devices as it does on desktops.

  • Do not forget about design

Simply put, your website needs to look good, bold and up-to-date. Hence redesign your existing website if it is cluttered and is of an outdated design that might turn away customers or even make them raise the question whether you are still in business.

Now having discussed the above-stated points, it is true that even the best-designed website can always be improved to create a more engaging experience for the users of the site.

Well, you might probably already know that your website could use improvements, so take the time now to find out exactly what those might be.
Therefore to do this try to determine at what point in the buying process do your visitors tend to drop off, or what are your most seen business pages and which are the pages that cause your website visitors to turn away.

This is exactly where web analytics services like Google Analytics can be of real help, so if you do not have Analytics set up on your business website, do it, right today.

In fact, Google Analytics provides your business a free and easy way to measure how your customers are interacting with your website and even point out technical issues that need are needed to be addressed for providing an enhanced experience to the users of your site.

  • Offer social proofs

When a friend, colleague or a family member recommends a brand, we are much likely to actually check it out, rather than if we would have simply seen it in an advertisement.

This is called social proofing- which can a game changer for startups and small businesses.

This is because viewing reviews from other real people (even if they are strangers) can go a long way in creating further engagements.

Hence, incorporate social proofs in your business website by creating a strong testimonial area in the main homepage, upload reviews of your brand on third-party aggregator websites, and mention or share them on social media sites.

You can also integrate tools on your website that displays your brand’s Instagram and Twitter feeds to encourage your website visitors to get engaged with your brand on social media as smart companies know their customers are their best marketers and so increase in public support means a lot for generating consistent business growth.

  • Focus on organically marketing your brand

Traditional email marketing with the help of the best small business CRM software, and digital advertisements can certainly be effective for startups and small business, but it is equally vital to remember that today’s consumers are bombarded by these promotional materials and are have so become somewhat blinded to them.

Now, by marketing by the term more “organically” we indicate creating a web strategy around inviting your consumers to get engaged with your business and brand rather than merely telling them about it.

Some of the ways you might do this for your SMB include:

  • Engaging followers and customers of your brand on social media websites
  • Proactively interacting with reviewers on aggregator sites
  • Building a business partnership with local brands, non-profits, and other related businesses

Now, SEO or Search Engine Optimization is another highly effective means to boost your business website’s visibility online around ‘key terms’ used for your business.

For example as a vendor of a cloud based CRM software vendor, we use “Easy to Use CRM”, “Best CRM for small business” or for the Merchant Cash Advance version of our software we use “MCA CRM” and similar keywords in our whitepapers, articles, social media posts and blogs which helps in attracting more qualified leads to our B2B website, and reduce the use of pop-ups and annoying lead capturing techniques that ruins the UX of the websites of most brands.

Therefore, work with a digital marketing agency or read on some basic SEO tips and strategies to get started on your own.

  • Streamline UX whenever possible

Never needlessly complicate how your customers and visitors engage with your website.

Remember the UX element of your business website need to offer a streamlined experience for the visitors of your site and support the goals for offering a deferential experience for any visitors to your website- existing and new customers alike.

It should also be noted over here as pop-ups and manipulative languages are also a big turn-off, therefore never coerce your visitors to complete an action like creating an account or to log in unless it is absolutely necessary for your lead generation and business growth.

Finally- Integrate with a business tool

On the tech side of things, integrating your website with business tools like an easy to use CRM software , makes it much easier for your business to manage your digital efforts across multiple channels and platforms as CRM is a software that can provide a comprehensive view of your data, which includes web analytics that helps in granting insights on your website’s engagements to further refine your UX strategies and thereby create an effective online presence of your brand that ultimately helps in increasing your businesses’ bottom line and revenue growth.

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The Utility Of Facebook For Lead Generation In MCA Businesses

Finding MCA (Merchant Cash Advance) leads for Merchant Cash Advance software has become a challenging task nowadays with the rise in demand and competition especially by owners of small businesses. This is over here the requirement for Merchant Cash Advance lead providers for MCA CRM software comes to play with high-quality leads that have the highest conversion rates. These MCA leads providers make use of various marketing techniques for harvesting a pool of reliable leads under one roof. Among these lead providing platforms for Merchant Cash Advance CRM software, Facebook is a wonderland for connecting and bonding with prospects to create a sense of trustworthiness that is capable of converting them into customers at some point of time.

Finding MCA (Merchant Cash Advance) leads for Merchant Cash Advance software has become a challenging task nowadays with the rise in demand and competition especially by owners of small businesses.
This is over here the requirement for Merchant Cash Advance lead providers for MCA CRM software comes to play with high-quality leads that have the highest conversion rates.

According to the Federal Reserve, 59% of business owners applied for financing to grow and expand their company - 2018 Click To Tweet

These MCA leads providers make use of various marketing techniques for harvesting a pool of reliable leads under one roof.

Among these lead providing platforms for Merchant Cash Advance CRM software, Facebook is a wonderland for connecting and bonding with prospects to create a sense of trustworthiness that is capable of converting them into customers at some point of time.

Are you aware of how many users log in to Facebook across the globe every day?

Well, according to recent statistics published by Hootsuite 1.47 Billion people log in daily on this social media platform, with over just half of them those that check-in even multiple times every day.

Therefore, with such a great number of daily users on this social media website application, Facebook since the last couple of years has grown to become the ‘numero uno’ choice and destination for marketers worldwide nowadays.

This is because using Facebook; you can generate high quality and authentic leads, increase web traffic to your alternative financing business website and thereby become the MCA market leader in your business space.

Now while there are several businesses that are still unaware of the true potential of Facebook for generating leads, there are also, on the other hand, many businesses that have tried their luck with this platform but hopelessly failed to find the returns the desired, with their Facebook lead generation strategies.

Hence as one of the award-winning vendors of Merchant Cash Advance CRM software for small businesses here are the basics that will certainly help you to execute marketing campaigns of your alternative funding business on Facebook to generate the best quality leads that can aid you in achieving rapid business growth.

Sharing Posts On Merchant Cash Program

The fastest and the easiest way to spread the word about your Merchant Cash Advance service is sharing it on the social media platforms.

This is because, the moment people comment, like, or share your posts; their activity automatically and instantaneously appears of their friends’ news feeds.

Therefore, social media is one of the most effective ways of promoting your alternative financing services and generate leads for your MCA CRM as it will be automatically referred to your social networks on the website.

Hence Facebook helps to easily promote your business and get referred to potential customers in your friends’ circle, which provides the prospect to generate more solid and reliable MCA leads, as well as secure new customers.

This is because, you can use ‘Page Insights’ to track your posts and shares on Facebook and thereafter learn more about your prospects.

Website Traffic Equates To Customers

Several companies use Facebook to increase their web traffic. Hence by posting engaging and appealing contents you can generate highly targeted web traffic and drive visitors who are genuinely interested in learning about your alternative financing services.

To generate high-quality leads for your MCA CRM software, create posts that provide information related to your Merchant Cash Advance business and share useful offers and advice on your services.

Additionally, as pictures catch more attention of the social media users which can help in finding a boost in share, comments and likes; it is advised to post contents with high-quality images.

Now, all website traffic that you get can be tracked and view in Google Analytics.
Hence always remember to keep an eye on the stats that are shown by this analytics tool to boost your posts for increased engagement and generating a way higher conversion rate.

Lead Generation Through Insights

It is equally important to add an appealing CTA (Call to Action) with all your Facebook posts. Since, with the help of this modern marketing strategy, potential customers can click on the provided link that will redirect them to your MCA businesses’ landing page which may provide complete information on your MCA offerings.

Moreover, you can even benefit from an increase in the number of article subscriptions by asking your visitors to fill in a short contact form for their respective names, email addresses and other information needed for providing financial services whom you can later on email at least once or twice every week to remind them of your offerings.

Easy Data Processing

One major benefit of using Facebook for generating MCA leads is the endless treasure of data available online.

Being a free social media platform Facebook is a place where you can find information from thousands of active users without much hassles, data that you marketers can use for trimming the niche of your target customers and thereby bring more business for your MCA firm.

This is because using Facebook Insight tools you can gather useful data about your audience, such as their age, language, gender, location, and others that can help in creating targeted email marketing campaigns on the right audience for improving your business growth .

Paid Ad Campaigns

Finally, paid Facebook ads are an extremely powerful marketing tool that can generate a very high number of qualified leads.

One major advantage of paid Facebook ads is that they are highly cost-effective and are priced much lesser than Google Ads, or any other traditional marketing campaigns on paper, media or TV.

As one of the most popular vendors of MCA CRM software for small business, there are several MCA businesses that we know who have earned millions in return after investing on Facebook ads as social media is the best place for finding an awesome return on investments.

Conclusion

Therefore to establish your brand image as one of the best MCA firms in your marketplace, you must opt for social media, since with so many available business owners surfing Facebook on a regular basis, it will not take long for your brand to create its awareness in the marketplace and thereby stand apart from the rest.

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How to Create a Comprehensive Buyer Persona with Your MCA CRM Software

In any business be it in Merchant Cash Advance or any other creating buyer personas are one of the main keys to business growth. Buyer personas which you can easily create using Merchant Cash Advance Software help understand who your ideal buyers are for your cash advance business, what they require, and how you can best sell your services to your customers. In fact, an elaborate buyer persona aids businesses to zero in on the challenges, pain-points, and needs of your customers. Buyer personas also help you to understand how you should appeal to your prospective buyers and make them generate interest in your offerings.

In any business be it in Merchant Cash Advance or any other creating buyer personas are one of the main keys to business growth.
Buyer personas which you can easily create using MCA CRM Software help understand who your ideal buyers are for your cash advance business, what they require, and how you can best sell your services to your customers.

In fact, an elaborate buyer persona aids businesses to zero in on the challenges, pain-points, and needs of your customers.
Buyer personas also help you to understand how you should appeal to your prospective buyers and make them generate interest in your offerings.

Using a CRM can lead to sales conversation rate improvements of over 300%- Cloudswave Click To Tweet

Therefore, in this article let us find how we can effectively use buyer personas and evaluate how you can leverage them to increase your sales and revenue.
So, let us dig into this topic and start with the basics:

  • Their position in the company
  • Department which they represent
  • Their biggest challenges and pain-points
  • Their future goals and aspirations
  • Their gender, age, and personality types
  • How you should communicate with them
  • And finally, how your offerings can solve their challenges

What are the reasons for creating a buyer persona?

Mapping a detailed portrait of your most common and ideal type of buyers you can market to those prospective customers in a more personal and relevant way.
You can speak with your ideal buyers directly about their challenges and pain points and then present to them how your offering will help solve those issues.

You can use buyer personas in your MCA marketing efforts for:

  • Explaining to the prospective customers that they already have a problem and are not yet aware of
  • Reach out to your prospects in a manner that resonates and can engage them effectively
  • Kindle their interest in your offering
  • Provide knowledge about how your offerings will be able to solve their issues
  • Present real-life examples, how your offerings have helped their peers in MCA business
  • Convince the customers so that they use your offerings to solve their issues

Why buyer personas are so important?

Buyer personas are important since they allow you to deliver the right message to the right person, and not make the mistake of using assumptions about knowing your customer to drive outreach.

It also bars your sales and marketing teams from sending irrelevant messages to the wrong people, and therefore by delivering the right information to the right decision maker help to increase engagement and interest in your offerings, leading to more wins and growth in revenue.

To create a great buyer persona in any business, firstly you need to do a lot of research. Now, as mentioned before if you just run on assumptions you will mostly end up meeting leads that are inaccurate and do not capture the right details about the person involved in the buying process.

How to create buyer personas?

One of the most common ways for creating buyer personas is to send surveys using Merchant Cash Advance software to all in your present customer base to find out what they specifically need, where their challenges are, and how your MCA firm can solve those problems to make your prospective customers more successful.

After that, in the next step, you need to apply that knowledge to your buyer personas and use that learning to converse with your prospects in a more pertinent and engaging way.

You can also provide incentives to the participants of your survey for completing their task so that it can help you to find more data. Since the more data you have the better and accurate will be your buyer personas.

Nevertheless, what questions should you need to ask for creating your buyer persona survey?
The question may vary according to your unique business and its specific customer base. However here are a few general MCA related questions to get started, which are mostly used by our Merchant Cash Advance CRM users in the alternative funding business:

  • What is your gender, age, marital status, nationality, and other demographic info?
  • What is your sale per day in your business?
  • What is your role and job title in your organization?
  • How long you have been employed with your company?
  • Where is your retail outlet/company located?
  • What are the biggest challenges that you face while applying for a bank loan?
  • How many employees are there in your organization?
  • Which technology and tools you use every day?
  • Do you use CRM software for enhancing your customer relationship?
  • Have you applied for any bank loans/ if so when?
  • Why you prefer alternative funding over bank loans?

Well, these are just samples of the kind of questions that you could ask for a survey of your MCA customers when you want to create an ideal buyer persona for Merchant Cash Advance business by storing vital information of your present customers in you MCA CRM database.

However, always remember to keep your survey to 15 questions or less, since otherwise, your response rate will plummet down.

Moreover, do not ask for your participant’s names and other general personal information (as you already have them in your MCA CRM software) in the survey, as those data will be irrelevant to the task at hand.

Now, once you get all the information that you need, you can start looking for commonality in your participant’s responses and then start building your buyer personas based on the common traits that you will find in your customer base.

Remain cautious, when you send your survey to capture information for building your ideal buyer personas. Do not tell the customers your original purpose for sending the survey. Instead, tell your survey participants that you would like to understand better who your customers are so that you can serve them more efficiently, as per their requirements in the days to come.

Conclusion

Therefore, instead of shooting in the dark any more create buyer personas for your business as it is something that differentiates average companies from the exceptional ones.

Moreover, do not hesitate to create multiple buyer personas and save them in MCA CRM software platform. We as one of the most popular vendors of MCA CRM software have seen some companies that have 10 or more buyer personas in their system.

In a gist, armed with an accurate and solid buyer persona representative of your MCA firm will not only be able to reach out to your prospective customers and engage them more easily, but it will also aid in building trust with your prospect and therefore close deals more quickly, while maintaining a competitive edge in your MCA market.

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Left but Never Forgotten: Steps for Regaining Customer Trust and Revenue

There are a number of reasons that prompt departure of your customers. Therefore, how you react to the departure of your customers will either validate that your customers have left for a good reason, or since you still have all the data of your customer in your easy to use CRM platform, you can start the process of bringing back your customers and along with it the customer revenue that you generated from those customers in the past. In fact, businesses that perform a great job of winning back departed customers eventually results in creating a stronger relationship with their old customers with the passage of time. As a vendor of the best small business CRM software, here are time tested five steps we have found that can help your organization identify and regain the trust of your lost customers and build up an, even more, stronger relationship.

There are a number of reasons that prompt departure of your customers. Therefore, how you react to the departure of your customers will either validate that your customers have left for a good reason, or since you still have all the data of your customer in your easy to use CRM platform, you can start the process of bringing back your customers and along with it the customer revenue that you generated from those customers in the past which you can also check from your CRM database.

Reducing churn by 5% can increase profits by 25-125%. Click To Tweet

In fact, businesses that perform a great job of winning back departed customers eventually results in creating a stronger relationship with their old customers with the passage of time.

As a vendor of the best small business CRM software, here are time tested five steps we have found that can help your organization identify and regain the trust of your lost customers and build up an, even more, stronger relationship.

Track your departed customers

Although this is no brainer, yet most organizations only track their customer-retention (CRR) scores as a percentage of their overall business. This means businesses often do not get down for ascertaining the actual numbers of customers who have departed after interacting or purchasing just for once from their companies.

Therefore, in reality, your efforts must be about caring for the customers those who have departed- not merely the percentage or how their churn impacted your organization’s revenue balance sheet.

Hence, primarily quantify the volume of customers and business that has departed, which can be easily done once every month or in every quarter, depending on the volume of your business.

Identify and segment those who departed

If you have a high-volume business, you will surely acknowledge that all customers who have departed did not contribute the same value to your organization.

Now, you need to make a hard decision. Segment the low revenue generating customers from those who contributed higher revenues, and thereafter determine, the customers you will reach out for recovery.

Reach out for reconciliation with reasons and respect

Now that you know who you want to win back by analyzing past information in your CRM database , reach out to those selected customers with a phone call.

Our suggestion is to create two groups within your organization to make the calls.

The first group should consist of executives who should call a few (1-20) of the departed customers in every phase of the “rescue-cycle” to keep your company remain aware and close to the problems that are driving customers to leave your brand.

The second group, which is more important than the former one, should consist of a specially prepared team of people, who are already trained in recovery conversations to handle the departed customers.

Remember this is not a sales pitch.

Therefore, this primary part of the recovery conversation will be apologizing that the customer has left your brand, while the second part will be listening intently to the customer’s explanations.
The third part of the recovery conversation will be diagnosing and verifying back to the customer why they departed and cataloging that information in your easy to use CRM for the company, and thereafter in the fourth part extend unconditional support and offer immediate assistance in resolving the issues.

Finally, there should be an offer (never a sales pitch) extended to the customer for bringing them back to your brand.

The learning curve needed to hone the recovery conversational skills can be a very rewarding experience for your employees since we would suggest that you must not outsource this for regaining customer trust and revenue.

Categorize causes for departure and take actions

After these calls, organizations uncover a major opportunity to specifically identify the common issues that came from all these calls and therefore find a chance to trend and track these issues. Now, by attaching these problems to the revenue of the departed customers, organizations can prioritize these issues.

Within the second session of conducting your customer recovery program, the most critical problems will emerge and there will be no questions remaining on what you should focus on.
In fact, this program may also bring an opportunity from making these calls about the frontline service than your company can render immediately and provide specific feedback to the frontline employees in your organization those that serve the customers and the potentially contributed to the customer’s departure from your brand.

Therefore, creating a closed-loop process for this feedback is extremely important and the very specific information that comes out of these calls can also be very productive for coaching your employees once stored in the CRM database to reduce further churn.

Place returning customers into “Intensive Care”

Keep an eye on the customers individually once any customer has agreed to be rescued and has decided to come back into your business.

Conduct a review every quarter of your recovered customer’s existence with your brand. Tracking customer service and support calls, purchasing metrics, and other similar indicators will help in identifying the health of the restarted relationship.

We can assure you that your close attention towards your returning customers will not go unnoticed.

 Results That You Can Expect From Customer Recovery

The customer recovery process has been extremely fruitful in every business verticals, where we have seen this work.

As one of the most popular vendors of MCA CRM (Merchant Cash Advance) software, in alternative financing services with high levels of customer churn, we experienced as much as 35% customer recovery, for businesses that followed this practice.

Users of our easy to use CRM also registered an improvement in their frontline services as the feedbacks that gleaned from these recovery calls was provided immediately to the account reps and managers serving the customers who departed, using automation in the CRM for routing the support calls to the appropriate employees who can handle the recovered customers in the days to come.

Conclusion

Therefore the key to customer recovery in any organization is to ensure that there is a planned process, to get in touch, resolve and settle the problems with customers, who have churned, and a commitment and an intention to fix the issue which pushed the customer out through the door.

In short, the “customer rescue” practice is a boon for any organization that wants to re-establish relationships, bring back revenue and also prevent future revenue from departing from their company.

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Most Important Integrations That Every MCA CRM Must Have For Business Growth

If you are an owner of a Merchant Cash Advance business, chances are that you have sat in on a few meetings with your employees to help your teams understand the best approaches to manage their leads, contacts, customers, and opportunities. Now, what begun with a Rolodex machine, a date book, and a telephone has now evolved in MCA businesses to the use of sophisticated online lead management software applications- better known as MCA CRM platforms, like ConvergeHub, which is customized for Cash Advance businesses. If you are not aware of what is CRM, you might wonder what is exactly the purpose of Merchant Cash Advance CRM software, how it can help your business to attract and retain more customers, or how you can integrate your easy to use CRM with your MCA website for rapid and consistent business growth.

If you are an owner of a Merchant Cash Advance business, chances are that you have sat in on a few meetings with your employees to help your teams understand the best approaches to manage their leads, contacts, customers, and opportunities.
Now, what begun with a Rolodex machine, a date book, and a telephone has now evolved in MCA businesses to the use of sophisticated online lead management software applications- better known as MCA CRM platforms, like ConvergeHub, which is customized for Cash Advance businesses.

Integrating QuickBooks and CRM helps your business deliver a better customer experience. Click To Tweet

If you are not aware of what is CRM , you might wonder what is exactly the purpose of Merchant Cash Advance CRM software , how it can help your business to attract and retain more customers, or how you can integrate your easy to use CRM with your MCA website for rapid and consistent business growth.

So, here are the answers to your question.

What is Customer Relationship Management software?

The main task of any CRM software be it customized for Cash Advance or any other business, is that it is an application that helps your sales, marketing, support, and even accounts manage your leads, prospects, customers, leading to business growth and more sales.
It is a software that helps to keep track of your leads and customers, their relationship with your organization, keep a record of whom they work for, what they are doing, what they are thinking about buying, or keep a tab on how often they contact you, among an incredible number of other options that CRM also aids in business.

The major benefit of using Merchant Cash Advance software in your MCA business is to find the ability to streamline your sales process, increase interactions with your Cash Advance customers and prospects and finally nurture those relationships in a way you see it fit for your business growth.

Therefore, regardless of whatever easy to use CRM software that you use, for Cash Advance, Retail, Reality, Legal, or any other business, majority of CRM software platforms, gathers the same type of information and have identical types of goals, such as:

  • Perk up customer communication and customer retention plans
  • Enhance company profitability by ushering business growth
  • Increase focus in your business
  • Increase prospect and customer tracking abilities

What are CRM integrations?

The best and the most popular easy to use CRM software especially Salesforce Alternative CRM software solutions are the ones with the highest user adoption rates. This is because, the more your sales, marketing, support, and accounts are willing to input data, the better will be the CRM platform’s ability to enable your employees to engage more customers and perform better over time. Hence inputting more data in the MCA CRM leads to increased business growth.

As with most easy to use CRM software platforms there is no one-size-fits-all solution, as vendors of CRM software as a whole strive to meld different functions to accommodate the needs of individual employees, to personalize their workflow, and create a uniform system that better tracks performance, ensure consistency in customer engagement, and improve productivity for business growth.

Now, CRM platforms can achieve this above-stated feat, with official and third-party integrations.
While official integrations are native collaborations between the MCA CRM and external software solutions, third-party integrations need the use of APIs or web services such as Zapier.

Here are some of the most used integrations that your MCA CRM platforms must have for increasing your alternative lending business’s growth.

  1. QuickBooks (Online)

For organizations, especially the ones that cater to financial services, QuickBooks accounting software is one of the most popular third-party software used along with their CRM platforms.
MCA CRM software platforms like ConvergeHub, offers QuickBooks CRM integration free, and is widely accepted as one of the best QuickBooks CRM software for any alternative lending business who are looking forward to using the data from their QuickBooks accounting software to build a closer relationship with their customers and generate more sales.

Once you integrate QuickBooks and your MCA CRM together, there can be a free exchange of information and data between these two software applications, whereby you can continue to use QuickBooks for accounting purposes, and at the same time see all the customer’s details, products and services for sale, along with invoice and payment information directly in your CRM.
You can then use this data from QuickBooks CRM for reminders, follow-ups, customer service, and business process automation.

  1. DocuSign

A plethora of signing on documents is most essentially required in alternative lending businesses. Therefore, most Merchant Cash Advance software users prefer integrating their MCA CRM with DocuSign that can help them to manage every aspect of each contact from preparing and sending documents for signing to managing them in their CRM platforms.

Using DocuSign with CRM for your business growth helps in remaining rest assured that everything stays legal, secure, and visible with a complete audit trail, apart from saving money and time and enhance your customer’s experience with your organization, delighting your customers along the way.

  1. Ring Central

MCA CRM is a storehouse of information about communications between your teams and your leads, prospects, and customers. Therefore, most companies in alternative lending business integrate Ring Central, which is an external software that help users to dial and log calls through RingCentral inside the CRM in a smarter way to enhance productivity and enrich customer interactions. This integration between the MCA CRM and RingCentral is perfect for small businesses who want to have a reliable voice service inside their CRM and efficiently manage customer phone calls.

  1. Google Drive

Google Drive integration for Merchant Cash Advance CRM software allows the users of the MCA CRM to share, sync, manage and access files associated with records through Google Drive right from within the easy to use CRM account. All attachments from your respective CRM records gets stored and synced into your associated Google Drive account with the help of this most important integration, used by many in alternative lending businesses.

  1. Google Calendar

Integrating Google Calendar with your MCA CRM software helps to bring all of your events, tasks, and meetings from your Google Calendar to your Merchant Cash Advance software, allowing you to stay updated by referring to what you have planned so that you never miss out any opportunities.

Once you use this integration for your alternative lending business and edit the calendar of your choice in real time, you can make a decision if you want those alterations to be reflected in either the Google Calendar, or MCA CRM software’s calendar, or both.

  1. Lead Generator Tool

If you are using ConvergeHub, the best MCA CRM for small businesses, you can also download and integrate its Free Lead Generator Tool.

Using this integration allows you to visit any lead’s social media page and capture all information instantly with no manual typing and hereafter save qualified leads from social media, other websites and even Gmail with one click of the mouse for even more sales power and business growth.

This integration (which is most often liked by all ConvergeHub MCA CRM users) helps to capture qualified leads into the sales funnel in a flash and use the power of CRM to convert them into paying customers – all for FREE.

Conclusion

Hence, the only limit to the ways you can use ConvergeHub MCA CRM is your imagination. ConvergeHub CRM seamlessly integrates with more than 30 third-party integrations, helping you to integrate your billing, call management, e-signature solution, and others, for a complete customer data, smarter selling, leading to rapid business growth .

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