Tag: Merchant Cash Advance CRM software

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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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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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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Real Customer Retention Strategies That Works With MCA CRM Software Platform

Is your alternative funding business focused on acquiring new customers or is it that you are more interested in retaining your existing ones? Although it is always appealing to acquire new customers, nevertheless customer retention (that many companies ignore) is, in reality, the key revenue driver of any small business organization. Here are a few customer retention strategies that will aid you to maintain a competitive edge over other MCA businesses in your alternative funding market.

Is your alternative funding business focused on acquiring new customers or is it that you are more interested in retaining your existing ones?
Although it is always appealing to acquire new customers, nevertheless customer retention (that many companies ignore) is, in reality, the key revenue driver of any small business organization.
Now, if you are a user of Merchant Cash Advance CRM software, which is also popularly known as MCA CRM, for your Cash Advance business, here are a few statistics that you simply cannot ignore, to drive home the importance of customer retention strategy for your MCA business.

Americans borrowed an additional $17.5 billion outside of business loans to pay for business-related expenses in 2017- Finder.com Click To Tweet
  • You will spend 5 times more to get hold of a new customer than to keep an existing customer.
  • Existing customers spend 67% more on your offerings than new customers.
  • Increasing CRR by just 5% will amplify your company’s profits by anywhere from 25% – 95%.

Therefore, with so much importance on customer retention, it is most essential that you need to incorporate customer retention best practices in your alternative funding business strategy to increase your MCA businesses’ customer retention rate.

Here are a few customer retention strategies that will aid you to maintain a competitive edge over other MCA businesses in your alternative funding market.

  1. Deliver a robust onboarding program

It is a big mistake, if after sealing a deal with a new customer; you immediately turn your attention back to acquire another, elated by the win.

This is because, it is extremely important that you must engage your new customer right from the start, and never leave them to fend for themselves once they have signed your MCA contact, and the best way for doing it is to deliver a robust onboarding program.

Train your Cash Advance business customers how to use your alternative funding services successfully, and to its full potential, so that you can generate the maximum returns on your investments.

  1. Implement customer surveys

If you are using an MCA CRM software, use automation to conduct online customer surveys of your existing customers to find out where they are struggling and how you can improve their customer experience with your Cash Advance business.

According to a nearly proverbial quote and a sage advice by Bill Gates, it says:

“Your most unhappy customers are your greatest source of learning.”

Therefore, conduct customer surveys using your Merchant Cash Advance software, to let your customers voice their concerns.

You can also send one-off emails to the participating customers of your survey sharing the results and laying out the plans you made based on their feedbacks that will show your customers that you really care about their pain-points and you are taking proactive measure to address them, which increases customer retention by building enhanced customer loyalty.

  1. Form a CAB (Customer Advisory Board)

Select a group of customers from your most important customer’s list and form a Customer Advisory Board (CAB) to discuss with them about your MCA services and their experience using it.

Let CAB in your alternative funding firm, be an open forum, where your most important customers can voice out their concerns and satisfaction, which can provide valuable insights into the minds of your existing customer base.

Make it point that you share the key takeaways you receive from the CAB meetings and draft an email to all your MCA customers informing them about the changes in your business plans, which will get your entire customer base involved that will help build trust and boost customer retention for your Cash Advance services.

  1. Provide world-class customer service

Do you know more than seven out of ten customers are willing to pay better rates of interest if they receive a world-class customer experience from employees of your MCA firm?

Therefore, never make your customers wait when they require support. Since according to market survey more than 77% of consumers said that they value their time as one of the single most important things that any company can do to deliver excellent customer service.

Provide your customers to submit their help desk tickets through multiple channels (social media, phone, email, and live chat) and try to increase the FCR (First Contact Rate), by resolving customer support issues on the first attempt without escalating the support ticket and making the customer wait till you get back later on.

Hence, using a Merchant Cash Advance CRM platform like ConvergeHub that is capable of handling multi-channel customer support, and also aid in increasing the FCR by using its knowledge base for resolving frequently asked customer issue is the need of the hours for all small and medium-sized MCA firms looking for growth in their business and revenue.

  1. Incorporate personal touch using MCA CRM software

With so much information stored in your CRM Database, using an MCA CRM software, it is extremely simple to tailor every interaction that you have with your existing alternative funding customers.

Hence, suggest your sales, and support team members open the contact records in your best small business CRM software and view all the interactions your customers had with your MCA firm in the past, before trying to solve their pain-points and issues.

MCA CRM software like ConvergeHub, which is capable of providing a 360-degree view of your customers, makes personalization of customer-facing interactions, even more, easier, allowing MCA businesses to form warmer and closer relationship that does wonders for increasing CRR (Customer Retention Rates) in your Cash Advance business.

  1. Develop educational resources continuously to ensure customers’ success

Last but not least, remember educating your MCA customers does not end with the onboarding program, being discussed at the beginning of this article.

Once the customer onboarding is accomplished in a proper manner, publish blogs articles on a regular basis (once every fortnight), which helps to continually educate the customer on emerging trends, and tips on how your customers can grow their revenue using your Cash Advance services.

If you are using the best small business CRM software like ConvergeHub, you can easily use your MCA CRM software to develop a knowledge base for your customers to house these educational resources and update the existing ones, which will not only increase the satisfaction level of your Cash Advance customers, but also boost customer retention rate, help treat your important customers like business partners and assure them that you are taking their opinions and suggestions seriously.

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Do you have a strategy that works well for increasing the CRR for your MCA business? Share it with us in the comments section below!

Ways A MCA CRM Can Help You Reach Your Business Goals

GOALS- are an essential element that every business be it big or small must have, as aptly quoted by Tony Robbins: “Setting goals is the first step in turning the invisible into the visible.” This is because, without goals, businesses will never be able to achieve new heights, or rather to say remain comfortably numbed with whatever happens around them. It is nice to sing “Hakuna Matata” in your daily life, but when it comes to business, not worrying about achieving new levels in sales and customer support can burn your entrepreneurial endeavors to the ground. So how can an MCA CRM help you reach your Merchant Cash Advance business goals?

GOALS- are an essential element that every business be it big or small must have, as aptly quoted by Tony Robbins:

Setting goals is the first step in turning the invisible into the visible.

This is because, without goals, businesses will never be able to achieve new heights, or rather to say remain comfortably numbed with whatever happens around them.

Setting goals is the first step in turning the invisible into the visible.- Tony Robbins Click To Tweet

It is nice to sing “Hakuna Matata” in your daily life, but when it comes to business, not worrying about achieving new levels in sales and customer support can burn your entrepreneurial endeavors to the ground.

So how can an MCA CRM help you reach your Merchant Cash Advance business goals?

 

Ways Merchant Cash Advance CRM Software Can Help You Reach Your MCA Business Goals:

  1. MCA CRM Improves Customer Retention

If you know what is CRM, we have discussed even before in greater details how an easy to use CRM software can enhance your in-house customer support, but at a higher level, a Merchant Cash Advance software can also help you to reach your customer retention goals.

Per say, using your MCA CRM software you can easily track all your customer satisfaction metrics and conjure sales promotional activities that can uncover new, and recurring revenues.

Leveraging features like activity history of the customers, taking notes, and using case management functionalities in an MCA CRM software like ConvergeHub allows your employees to monitor the conversation that your marketing, sales, and support teams have had with your existing customers. That in turn makes it simple for your alternative funding organization to provide apt solutions and promotions to increase the level of satisfaction for your customers.

Always remember, it is at least 50% more easier to sell to existing customers than selling your services to new prospects and that 80% of your future profits in your alternative funding MCA business come from your existing customers. Therefore, leveraging your Merchant Cash Advance CRM to reach your existing customer is a must for the growth of your business.

  1. Create Better Marketing Campaigns

Based on Top Marketing Automation Trends published by Software Advice, businesses that have already understood the impact, which a CRM for small business does for sales and marketing has leveraged lead scoring and lead segmentation features to create groups of customer targets to perk up the quality and reach of their marketing campaigns.

It is a common statement that easy to use CRM software platforms like ConvergeHub helps business to reach their goals by providing organizations with deeper insights into their leads, prospect, and customers.

More specifically MCA CRM software in alternative funding businesses provides your MCA firm to look at your opportunity pipelines so that you can very easily correlate each of the opportunities in your sales funnels to a specific marketing campaign.

This marketing automation functions in a CRM lets your employees quickly view which are the campaigns that are likely to result into opportunities and ultimately sales of your alternative funding services.

Therefore, using an MCA CRM like ConvergeHub, fine-tune your marketing campaigns in a manner that provides the opportunities to escalate your company’s goals and its bottom line.

  1. Increase Lead Quality

As you can easily reach your business goals using an MCA CRM software in Merchant Cash Advance businesses, you should instruct your marketing and sales managers to create pragmatic objectives to increase lead quality for higher sales. ConvergeHub CRM helps to score leads and determine which actions and strategies are most pertinent to lead to a sale. Using the CRM database for enhancing customer and lead information you can conveniently fast-track leads through the sales pipeline to help your managers more efficiently reach their predicted sales.

  1. Make your Business more Efficient

Your Merchant Cash Advance software can easily improve your efficiency to hit on goals by developing a better workflow for all your customer-facing processes. ConvergeHub MCA CRM software not only helps you with process workflow, but it even increases process efficiency and time management skills of your employees. Using an easy to use CRM software your team will be able to invest more time on value-added activities and thereby spend less time making communication blunders and loose information while making manual data entries in the software.

  1. Improve Sales Pipeline

Improving your alternative funding businesses’ sales pipeline through your MCA CRM software is a simple way to help you reach your goals.
In other words, plainly speaking, your company needs to reach its revenue goals and your Merchant Cash Advance CRM help you to reach it quickly.

Your sales pipeline gets a considerable boost from an array of areas, although it is a bit way around to include other sections in this list, nevertheless, improving the quality of your leads directly helps to enhance your sales pipeline, improve the quality of your marketing campaigns, and thereby improve your business workflow.
In addition to this, MCA CRM software also lets you segment lists by industries that help your sales teams to focus their outbound efforts on specific niche industries seeking alternative funding resources.

Conclusion

If you know what is CRM, then you must be aware of the fact that a CRM is more than just a piece of software. It is a tool that helps your business to reach its perceived goals, regardless of whether your primary objectives are improving sales, retaining your customers, increase inbound leads, or just reduce wasted time.

Therefore, to conclude, an MCA CRM is your always a silver bullet if you are in the Merchant Cash Advance business, which helps you to manage your entire operation, right from marketing and sales to customer support and project management by placing all of the pieces you need in a single platform to achieve your goals.

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Strategic Lead Management Tips To Keep Sales Moving Through Your MCA CRM Pipeline

Keeping track of what is going on in your MCA CRM pipeline is important for your Merchant Cash Advance business. Your Merchant Cash Advance CRM sales pipeline provides you an insight into how your sales strategies are performing, and if any improvement is required to increase your sales. Unfortunately, leads and fence-sitting prospects can get lost in the shuffle or suddenly becoming inactive. Hence, what do you do when you find that the leads in the CRM database are getting stuck or dropping out for a myriad of reasons. Here are some of the most effective tips on lead management strategies that can help you to make your MCA CRM sales pipeline going forward once again.

Keeping track of what is going on in your MCA CRM pipeline is important for your Merchant Cash Advance business.

Your Merchant Cash Advance CRM sales pipeline provides you an insight into how your sales strategies are performing, and if any improvement is required to increase your sales.

The CRM market has seen a steady growth in the recent past. For this reason, its value is estimated to stand at $19 billion. - GoalCast (2017) Click To Tweet

Unfortunately, leads and fence-sitting prospects can get lost in the shuffle or suddenly becoming inactive. Hence, what do you do when you find that the leads in the CRM database are getting stuck or dropping out for a myriad of reasons.

Here are some of the most effective tips on lead management strategies that can help you to make your MCA CRM sales pipeline going forward once again.

However, primarily do you understand what are the reasons that are causing your leads to get stuck in your sales pipeline?

Therefore, before you take any actions, the foremost thing that you need to do is to comprehend why leads are getting caught in the first place. Since, when you do a bit of pondering, you will most likely be able to link all your inactive leads to a few unambiguous causes for which they got halted in their progress.

Not find the proper person

If you are unaware of the right contact information and you do not know the proper decision-maker(s) in the company, you will hardly be able to make any sales.
In addition, a prospective customer may enter an email that the person may not use often when they fill out a web-form in your website.

Both these issues ultimately may lead to not letting your messages reach the right people who need to see them.

Therefore, measure the bounce rate for your emails using MCA CRM software, and if they are considered high, find a solution to your problem. As this can be an indicator that you are not selling to the right person, or rather to say, not selling at all.

There is a problem with your alternative lending service

Another pertinent reason why a lead might get jammed is that your prospects are having issues using your solution, or they assume that your services are too expensive when compared to other MCA businesses in town. Nevertheless, whatever the case may be, it is vital that you find and fix the problems that are within your control.

Although it is true that you just cannot please every prospect, however, making the right change can have a rocking impact on your bottom line.

For example, if you find that a majority of visitors are abandoning the account creation process on your website, do take up necessary steps to decrease friction at the steps.

Your buyer is not ready yet

It can always be that your prospects are not sure that they want to make a change and accept your solution. It is a known fact that most of the visitors on your website will not be ready to buy your service the minute they enter your sales pipeline, and therefore, not doing so can leave some of your prospects fence-sit without the confidence to make a purchase.

If you find this to be an issue, increase the chances of making the leads move through your Merchant Cash Advance CRM pipeline by being helpful towards your prospects.

 

Lead management tips to get prospects moving

Now, once you are aware of what is getting your prospects stuck; you are faced with another new challenge.

So, how do you remove these bottlenecks and advance your leads through your MCA CRM’s pipeline?

The good news is that when you adopt the proper lead management strategies into action, you can easily get all your inactive leads moving ahead again.

Here are a few time-tested tips that we recommend:

Revamp your communication strategies

Are you aware of your communication strategies with your prospects in the different stages of your sales pipeline?

Now, just sending an email blast to every prospect in your CRM database once or twice every month is not going to cut the knot, if you want to steadily encourage every leads to move towards a prospect.

Primarily, understand your sales process and think what is required for qualifying and pushing your leads at every stage of your sales pipeline.
Next, segment your leads using lead scoring tactics into different lists.

Find a lead scoring strategy that addresses to your lead’s concerns, curiosities, and pain points.

According to an article published by MailChimp, lead segmentation plays a major role in the success of any email marketing campaign.

According to MailChimp, it has been found that email campaigns with segmented leads using a Merchant Cash Advance CRM software, in alternative lending businesses gets cent percent more clicks when compared to non-segmented ones.

Know your leads better

Do you know if your prospective leads are casually considering your service or they are in urgent need of your solution?

Once leads are stuck in the sales pipeline, it can always imply that your leads do not need your services yet.

Maybe, they are doubtful if your answer to their pain points is a good solution for their needs. Knowing this allows you to nurture your leads properly.

Understanding where your leads are in the buyer’s journey aids in marketing to them more efficiently.

You can always find out what your prospective leads are thinking by asking them to reply to your emails or by sending them out a survey using an easy to use MCA CRM platform.

If needed, you can even consider setting up a feedback form for all your new leads so that you can without any problems, collect all the information about your leads and their businesses and store the data in your CRM database.

Lookout for stalled stages

Find out if most of the inactive leads are getting stuck in one specific stage of your sales pipeline. If it is so, reevaluate the stages of your sales process. However, to understand how to fix this stages, you need to find an answer to these two most pertinent questions:

-What is happening?

-What should be happening?

For this, find an answer to what are the specific goals for every stage in your sales process. Next, evaluate how close you or your prospects are coming close to meet these goals. Finally, find out what can you do to make it easier for your leads to move to the next step or fetch a decision to complete the deal.

Offer help

If you are determined that a prospective lead is facing trouble in making a decision or getting buy-in from other alternative funding companies, what can be done offer them help?
What can you do to make your leads generate more trust in your business?

Well, to redress this issue you can offer free trials, eBooks, consultation, coupon codes, and other similar ‘at no cost’ resources. However, you should always make these offers available to the right buyers and at the right time.

Again, the key to finding this proper moment is making sure that your contact list is properly segmented. Per say, you just would not want to email a guidebook of how Merchant Cash Advance business works and its benefits over conventional bank loans to a lead who is already in a decision making stage of the buyer’s journey.

Create urgency

In case your prospective leads are not feeling an urgency to go for your service, set an expiration date or offer a discount.

According to a study done by Experian, adding urgency to your email marketing campaign efforts can increase open rates of your emails by 14%, the click-through rates by 59%, and double the number of completed deals.

To do these include the offer and time limit in the subject line of your emails.

However, always make sure that your urgency is based on something real, and is not a trial offer which is supposed to remain for a week but remains beyond that time, which is one of the quickest ways for losing credibility.

Ask questions

Start listening, if you cannot get a lead to close the deal. Ask your leads questions so that you can apprehend their hesitations. Since, if you ask your prospective lead any question that can get them engaged, you always have a fair chance that they will certainly reply, and you can easily find out from their answers what is holding them back.

If you are using a survey or sending a short email with questions to do this work, always send something that your prospects can answer within a few minutes.

Bottom line

Therefore, you see, solving issues and pain points of your prospective leads are not as complicated as it apparently seems.

The key to keeping you leads moving forward seamlessly through your MCA CRM sales pipeline lies in simply understanding and apprehending what is holding them back. Hence, make sure that the sales process in your Merchant Cash Advance software is set up to support your leads, and prospects and not just you as the owner of the software.

Are you ready to take control of your Merchant Cash Advance CRM sales pipeline now!

Learn more about how ConvergeHub’s robust marketing automation and sales pipeline management features can aid you and your team to get the right message to your prospects and leads in the right time.

To get going, start a 14-days free trial of ConvergeHub- the award-winning MCA CRM software by clicking on the link below.

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