Are you someone working with aged merchant cash advance leads? Know that these leads are a perfect way to seek businesses that require funding. Even though they may not be brand-new leads, they still hold significant value if approached properly. Converting these leads into potential clients requires a strategic approach combining outreach, persistence, and timing.

That said, let’s look at steps that will help you convert aged merchant cash advance leads.

What to do When Converting Aged MCA Leads?

Here are the essential points to keep in mind when wanting to convert aged MCA leads:

1. Understand the Business’ Needs

​​The first step in converting aged merchant cash advance leads is understanding the business needs you would target. They may not have received funding earlier or experienced some change in the situation after their initial contact. You can tailor your offer with access to necessary business data like their industry, cash flow history, and credit card sales.

Start by getting every detail available about the business you intend to pitch to. Their current situation will enable a solution, like your merchant cash advance, to solve their specific problems.

2. Personalize Your Outreach

Aged leads are typically less responsive than new ones, so it should be obvious that your approach must be very personalized. General messages or calls won’t get you noticed. In contrast, customize your pitch by referencing their industry, previous inquiries, or potential working capital requirements. Explain how your MCA service can help grow their business.

Personalization demonstrates that you’ve put in the work, making the offer much more relevant to them. Explain in reaching out to them how this loan would facilitate immediate access to funds, helping them get to where they need to be daily or helping grow it for the future.

3. Use Working Capital Live Transfers

One of the best ways to increase your conversions is by using working capital live transfers. Live transfers will connect you in real-time with business people with an immediate and urgent need for capital. This gives you an advantage because you can start engaging with leads when they are connected and resolve their funding needs immediately.

Live transfers bridge the gap between older leads and live interest, giving you a direct opportunity to convert businesses that may be ready for a merchant cash advance now.

Aged merchant cash advance leads can be more tedious and demanding, but the appropriate approach can make them an asset to your client base. Personalize your marketing approach, consistently follow up, and utilize tools like working capital live transfers when approaching business. It will eventually give you a chance to create a long-standing relationship because what you do is actually of value to other business owners, and you’ll understand their needs.

That way, you would get the correct essential business data to make quality and informed decisions to help boost your chances of success by helping businesses secure funding and grow your MCA portfolio.

For more information, contact us today.