Marketing The Right Way For Factoring Business

New clients, we all want them and we try everything in our power to find them. The internet along with social media has made it possible for almost anyone to get their message out to the masses at an extremely low cost. With an internet connection and a very small marketing budget you can create a web page, post content on Facebook, LinkedIn, YouTube and a variety of other outlets depending on your specific need or preference.

Our position in the factoring business has always been to keep a lot of irons in the fire when it comes to marketing on the internet. As important it is to have a great website, it is just as important to create useful content to educate our audience about what we do and how our services can benefit their business.

Unfortunately, the ease of marketing on the internet can be a double edged sword. How many us come to work every day and are inundated with pages of junk emails that contain useless information that isn’t even pertinent to our businesses? I’m not just referring to spam mail but also all of the newsletters, links and requests for conference calls from people we never met and most likely will never do business. Sometimes I get multiple emails from the same sender saying they were following up on our previous conversation when I never responded to any of their previous emails.

Whatever happened to researching your target audience and crafting a message that connects your business to theirs?

I find it disappointing that many internet marketing strategies are centered on the old adage of throw as much stuff against the wall and see how much of it sticks. From this business owner I can tell you that many of my colleagues look at this strategy as lazy and ineffective at attempting to find new clients.

Obviously, if there was some universal marketing campaign that magically makes your phone ring every business would be utilizing it today. Here are a few common sense tips we like to employ when trying to reach our targeted audience:

• Drill down – So often in our industry I see new factors that create vanilla campaigns that do not target a specific audience. For example, instead of targeting all of the transportation industry and competing with larger, well established factors, drill down further and look for opportunities within the industry. Maybe you will want to focus on specific niches like dirt haulers, or owner operators. Then go a step further by narrowing down a territory that you can actively pursue new business.

• Don’t be lazy – Potential new customers do not come in a one size fits all plan. To get them you are going to have to work hard to earn their business. Don’t just send a blanket email blast to a bunch of folks on a purchased list. In most cases they are going to delete it and ignore future attempts to communicate.

Make your marketing campaign have substance rather than taking the easy route. To quote Albert Einstein, “You have to learn the rules of the game. And then you have to play better than anyone else”.

Don D’Ambrosio is the president of Oxygen Funding, Inc., an invoice factoring company located in Lake Forest, California.

For more information, he can be reached at don.dambrosio@oxygenfunding.com or you can visit his company’s website at www.oxygenfunding.com