Looking to get more leads this year? We get it. The factoring industry is not always easy to promote.
There are so many avenues a factoring company can take in order to appeal to potential clients. It is important to take into account all possible industries when you are promoting your factoring business. Every customer that comes to your site wants to feel included and have their voice heard.
Just think if you were a small business owner looking for funding, what would speak to you the most? It might not always be easy to do, but it’s crucial to getting the leads that your factoring company wants.
Don’t worry, you won’t have to think too hard. We have complied a list of best practices for increasing leads as clients come in contact with your business. Some you may already be doing, some you may need to increase, and some you may have never thought of before.
5 Ways Factoring Companies Can Capture More Leads
#1 – Write Content for All Industries
When it comes to your website’s home page, casting a wide net is important. This is the place where most of your customers land to look for answers. It is important to ensure that your content is inclusive, and worded in a way that any business owner can understand. Remember, if a potential client doesn’t feel that your factoring company is the right fit, they are not making it beyond the home page.
When writing content for your pages and blogs, make sure all industries feel included. If you are constantly writing for the trucking industry, other companies such as staffing or manufacturing might look elsewhere because they don’t find content that addresses their particular issues. Keeping a monthly schedule of what industries to write about can help your business stay on track and keep your blog updated.
#2 – Talk the Talk
We talked about what to write about, now to talk about how to write it. It is important to study who you are writing for. Take the time to do research using your current clients and their financial struggles. Pay attention to your conversations with prospects. What types of questions do they ask? What are the challenges they face? Answer all the questions right there in your content. If a business owner has to call and ask what your company does, you haven’t put enough information into your content. If your rates are competitive in the factoring industry, don’t be afraid to showcase it.
Want more inspiration? Visit websites of some of your clients to learn more about their services and their industry in general. For example, visit the website of your largest staffing client. What is important to them and their customers? Are there any hot topics in that particular industry? Learn from your clients and use that knowledge to improve your content for each particular industry. When business owners find familiar language and industry trends on your website, they’ll feel more confident that you can help with their unique challenges. Building trust increases the likelihood that they will reach out to you versus one of your competitors.
#3 – Understand Timeliness
Many business owners who seek invoice factoring need money FAST. They don’t have time to wait around hoping you will get back to them. Ensure that your lead strategy is built for speed and that your account managers are ready and waiting to fund. If your company waits an hour to get back to someone, they may already be onto the next one who was able to help them immediately. This small, but important, tactic could stand in the way of you clinching a lead.
The same applies if you are a factoring broker. If your company gets a lead, it is important to get it placed as soon as possible. Since a brokerage is not a direct funder, a potential client might already be pressed for time waiting to get in touch with the right match.
#4 – Keep the Contact Strong
It is also important to maintain contact with a client. Regular updates aren’t annoying, they’re helpful. If they stop hearing from you or have difficulty getting in touch with you if they have a question, they may get worried and seek out a different funder.
Remember, they’ve chosen to become your client. This means they trust you to provide them with as much support as you can.
It’s important to be available during your working hours to assist them with whatever they need. Being a responsive account manager will not only leave your clients happy, but they might be more inclined to tell other business owners about your factoring company. Just think if someone was in charge of your business’ funds, wouldn’t you want them to be on top of their game?
#5 – Go Mobile
Smart phones are becoming the way of the world these days and factoring companies should definitely cash in on that. Many industry workers, such as truckers, are constantly on their phones. Since truckers are always on the road, it is very rare that they are sitting on a computer somewhere. Making sure that your business has a mobile-friendly website is important. It should be as easy as possible for clients and prospects to contact you.
Want to take it a step further? Mobile apps are making waves for companies these days. If your factoring company has the tools to create a mobile app where clients can easily access their accounts, this could be a huge selling factor. While apps do take work to create and maintain, having one could be the deciding factor that turns a prospect into a client.
About the Author: Factor Finders specializes in finding factoring companies that can fund difficult-to-place deals. Our services help other factoring brokers capitalize on commissions that might otherwise be lost.
If you have a prospective transaction that you cannot find a funder then contact us at FactorFinders.com. We’ll find the factor for you and split commissions 50-50.